Investoc, the ‘family office’ company that owns the Inspira hotel brand is to develop two hotels in the historic Lisbon neighbourhoods of Alfama and Santos.
Filipe Osório de Castro, CEO of Investoc, told online tourism news agency ‘Publituris’ that the company purchased two hotel assets being developed in 2018.
One is located in Avenida Dom Carlos I in Santos which will become a 65-room three-star hotel. Still in the planning permission phase, the €14 million project aims to be different from competitors in the market.
Opening at the end of 2020, the hotel will be positioned in the market as a ‘lifestyle hotel’ aimed at young people.
The other hotel will be located in the historic centre of Lisbon’s Alfama district, in front of the Sé Cathedral and the church of St. Anthony of Alfama.
“We closed the deal in the last quarter and involves a building in Alfama which will become a 50-room five-star hotel. Still on the drawing board phase, the project has a view over the Tagus River and the city as well as “fantastic exposure to the sun,” says Osório de Castro.
The expected investment is €18.5 million with opening expected for 2021.