FundBox Co-Investment Fund aims to invest 50 percent into Estoril 8023 SA, an existing hotel management company. Estoril 8023 already manages five luxury hotel operations including the Valverde Hotels, a luxury brand that won the World Travel Awards for 2020, 21 & 22. The plan is to expand the portfolio to manage a minimum of 15 hotels by the end of 2028.
In Portugal, many hotels are managed independently. These hotels often struggle to compete globally because they lack the professional skills and support.
Unforeseen changes such as increases in interest rates have left many hotels vulnerable to financial difficulties, potentially jeopardizing their long-term viability.
Transitioning leadership within family- owned hotel operations presents significant challenges, including maintaining operational continuity and adapting to changing market dynamics.
Preliminary results 2023: income from the tourist accommodation sector with growth of more than 20% – December 2023
In the three years prior to the pandemic, overnight stays in Q3 represented an average of around 40% of annual overnight stays. Therefore, whether tourism exceeds the pre-pandemic levels or not in 2023 depends largely on the sector’s performance in this period.
Portugal brought in more money than ever before from tourism in 2023, according to the country’s secretary of state, who expects that the sector will only continue to grow.
Hilton will open three more new hotels in Lisbon, following a management agreement with Feuring Asset Management GmbH.
The group, who have already purchased eight Dom Pedro Hotels and five golf courses in Vilamoura, have concluded the Hilton buy-up, while the deal to buy Palmares resort moves ahead.
The president of the Portuguese Hotel Association (AHP) states that diversification, both in markets and supply, continues to liven up Christmas and the end of the year in the hotel industry.
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