International Hotel Brand Announces its First Luxury Hotel in Portugal

Meliá Hotels International and Discovery Fund have signed a joint agreement that will see Europe's third largest hotel chain open its first luxury hotel in Lisbon, Portugal.

The Meliá lisboa is part of an ambitious project that aims to return life to a strategic location in the city, with the hotel set on the corner of the central Antonio Augusto de Aguiar and Fontes Pereira de Melo avenues.

The hotel will open in early 2018 with 239 rooms, a 24-hour restaurant adapted to the lifestyle needs of guests, and a panoramic lounge-bar on the upper terrace with stunning views of the city.

The hotel is set to follow the 'bleisure' (business and leisure) concept, providing everything needed by guests visiting Lisbon for a combination of business travel and leisure, while also giving local residents a meeting point where they can 'see and be seen', with attractive options for dining, drinks and music. Meliá Lisboa will feature modern facilities for conferences and conventions for between 50 and 550 people, two floors of parking, and a health club and Yhi Spa, the chain's spa brand.

Portugal is considered one of the most important destinations for European tourism and with a growing strength in urban hotels; the Meliá Lisboa is set to mark the group's continued growth in Portugal. The hotel chain is working closely with Discovery Portugal Real Estate Fund who are focused on real estate and tourism assets management in Portugal.

Pedro Seabra, partner of Discovery Fund, highlighted the importance of the agreement in bringing an international brand into the hotel's management:

"This alliance and the Melia Lisbon's project represent the continuation of the excellent work of the Discovery team, with the aim of revaluating the Fund's assets," he said. "We are also excited to be able to count with the best professionals to make this project a successful reality from 2018".

Gabriel Escarrer, vice chairman and CEO of Meliá, added: "We are very excited about the Meliá Lisboa because it combines architectural innovation in a hotel with the highest standards of quality and service, with the history of such an emblematic corner of the city of Lisbon, with the attractiveness that you only find in the centre of the great historic capital cities in Europe".

Portugal remains one of the most popular destinations for property investors in Europe and despite some economic and political instability in recent years, considerable growth now seems to be back on the agenda for 2016.