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Press Releases

Listed below are the press releases that we have issued during the last month. They are listed in date order with the most recent first.

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Hôtellerie 04 October 2019

Christie & Co, the hotel real estate adviser, strengthens its transaction team in Bordeaux

"This recruitment is motivated by the hotel dynamism experienced by Bordeaux and the greater Southwest in general. Hugo's temperament and dedication to hotel real estate are some of the benefits he will bring to our customers, "said Yoann Vittoz. Coming from a family envi...

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Hôtellerie 03 October 2019

Christie & Co sells a portfolio of 5 hotels in France

The sale represents 442 rooms under the Holiday Inn and Holiday Inn Express brands located in Lille, Amiens, Clermont-Ferrand and Toulon. These establishments were sold freehold except for the Holiday Inn Express in Toulon Sainte Musse, which is held in leasehold. Located i...

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24 September 2019

Hotel Market Bucharest: Upward trends reveal market potential

Bucharest is Romania’s cultural and political centre, as well as economical and financial driving force, currently contributing approximately 30% to the country’s GDP. Hotel demand predominantly stems from business travel which is linked to the activity of the governmental ins...

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Hôtellerie 12 September 2019

The former home of the Marquis de Sade family sold by Christie & Co

Surrounded by landscaped gardens, this 4-star hotel consists of a castle and an 18th-century mansion, offering 30 guest rooms and suites. "The Lhermie family trusted us for the sale of the Château, the other "castle" of Marquis de Sade. It was a real pleasure to be ab...

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Hôtellerie 08 August 2019

Hotel in Italy for sale as part of Pan-European portfolio through Christie & Co

The Tulip Inn Turin – Moncalieri is a substantial asset offering 100 bedrooms, plus a restaurant, bar and meeting spaces, providing facilities to cater for a range of corporate and leisure guests and generating additional income streams. Situated on a main motorway in the t...

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Hôtellerie 10 July 2019

Hotel market Prague: positive sentiment in a contested environment

The Czech capital is the country’s cultural, financial and political centre. According to “Condé Nast Traveler”, the city is among the most beautiful in Europe. A majority of demand stems from leisure guests, which are attracted by the city’s picturesque landmarks including th...

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04 July 2019

Grand Tonic Hôtel**** on the Old Harbor of Marseille (13) sold through Christie & Co

The new owner is Vicartem group from Brittany. This new acquisition is the first one outside its territorial scope that is Western France.  "The prime location of the asset, facing the Old Harbour of Marseille, was the main trigger for Vicartem managers always looking for ex...

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19 June 2019

Christie & Co releases its new report: 'Spanish Hotel Market : Resort Destinations'

Spanish hotels registered a total of 105.3m arrivals in 2018, of which 43.4% (45.7m) went to hotels located in resort areas of Spain. Demonstrating the strong performance of the areas commonly known as “sun and beach” destinations, Christie & Co has released a new report looki...

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Hôtellerie 28 May 2019

Christie & Co and ÖRAG Immobilien conclude sale of the "Meininger Hotel Salzburg City Center" for CA

The property of sale comprises hotel, retail, office and storage areas, whereas the 3-star hotel with around 100 rooms covers 3,640sqm making up more than half of the property. Both the central location in the city of Mozart and a direct connection to the “Zentrum im Berg” sho...

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Hôtellerie 10 April 2019

The Portuguese Hotel Market: a Christie & Co report

International hotel property adviser, Christie & Co, has published an update of its “Portuguese Hotel Market” report, published for the first time in 2016.

Portugal has experienced remarkable tourism growth in recent years, reaching more than 12.7 million arrivals of international tourists in 2018. Demand has experienced an accumulated growth of 3.7% between 2016 and 2018, driven both by the domestic (+4.7%) and international (+3.3%) tourism. The hotel sector has also shown quality improvement in hotel supply, evidenced by the 4.7% increase in the number of 4 and 5-star hotels from 2015 to 2018. Improvement in supply is one of the main drivers of the sector's profitability, which has grown by 4% in 2018 compared to the previous year. Meanwhile, overnight stays have also increased throughout the country, registering 57.6 million overnight stays in 2018, with the largest portion accounted for by the international segment (71% international vs. 29% domestic tourism).

In 2018, Portugal maintained a total of 1,372 hotels (101,946 rooms), 18% of which were 5-star hotels, 46% of which were 4-star hotels and 24% of which were 3-star hotels, with only 12% from lower categories. Taking the total number of hotels in the country as a reference, Portugal reached a RevPAR of €52.2 in 2018 (+4.0% compared to 2017), an ADR of €79.8 (+5.7%/2017) and 65.4% occupation, which is the only indicator that has decreased compared to the previous year (-1.7%).

In addition to offering an overview of the country’s hotel sector , the report also analyses the areas of Portugal which enjoy high levels of tourism demand, including two urban destinations (Lisbon and Porto) and two resort destinations (the Algarve and Madeira), and considers the supply and demand levels, strengths and weaknesses, and key performance indicators of each.

Lisbon’s profitability is remarkable. Recording occupancy levels of almost 76% in 2018, an ADR of €103.3 and a RevPAR of €78.3, Lisbon leads the ranks among the four areas, although it is not the area with the highest number of hotels (275 hotels registered in 2018). Identified as the area with the largest hotel supply (351 hotels) Porto registered the highest RevPAR growth in Portugal, reaching €46.0 in 2018 (+9.0% with respect to 2017). It also obtained notable growth in ADR, reaching €71.7 (+8.7% versus 2017), while occupancy levels experienced a light increase, reaching an average of 64.2% (+0.3%/2017).

Regarding the resort destinations analysed in the report, the Algarve exceeds Madeira in terms of ADR (€83.0 against €69.0), as well as RevPAR (€54 versus €51). However, Madeira registered occupancy levels are higher than those of the Algarve (74% and 65% respectively) in 2018. In relation to hotel supply, Madeira had 85 hotels registered in 2018 whereas the Algarve accounted for 156 hotels.

Joan Bagó, Market Analyst at Christie & Co and author of the report, comments: “Demand growth and the improvements in the quality of the hotel supply have allowed the country’s main urban destinations to increase ADR, leading overall hotel performance growth. On the other hand, resort markets, penalised by the international demand drop, have registered lower occupancy levels than the previous year.” 

Complementary to previous reports, the report offers an outlook on the coming years for the hotel sector in Portugal. With a positive economy and rising operating levels, the Portuguese hotel market can look forward to strong conditions which will attract foreign investors to the country, presenting the potential for investment growth similar to that seen in Spain over recent years.
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