According to Cushman & Wakefield (C&W), by the end of the year, investment in hotels should reach 720 million euros.

"Currently, around 720 million euros of hotel transactions are in the pipeline, in different negotiation stages, which are expected to be concluded by the end of this year", said Gonçalo Garcia, head of hospitality at Cushman & Wakefield Portugal, in statements to Dinheiro Vivo.

According to the official, "the investment pattern in the sector is usually more predominant in the second half" and, therefore, "the success observed in the volume of investment carried out in 2022 meant that operations did not slip into the first months of this year".

By all indications, this year's investment will surpass 2019's figures, but will lag behind 2022, the year in which a record 900 million euros of investment in hospitality was broken, namely due to the sale of ECS Capital's real estate portfolio to Davidson Kempner Partners.

In the first four months of this year, 10 new hotels opened in Portugal and, by December, consultants' estimates point to 50 more openings. By 2025, 110 projects are in the pipeline, totalling 9,800 rooms, according to C&W.

by TPN | The Portugal News