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IHG focuses on Portugal

While tourism in Portugal posts steady performances, the hotel group announces the development of hotels in Lisbon and Porto.

InterContinental Hotels Group has set its sights on Portugal. The hotel group has announced the development, through a management contract, of two new hotels at the destination: the InterContinental Lisbon and the Crowne Plaza Porto. The prior should open its doors in a few weeks in the center of the Portuguese capital following renovation. Previously operated under the Le Méridien brand and then as the Tiara Park Atlantic Lisbon Hotel, it has 315 rooms and 16 suites. Moreover, the Park Atlantic Hotel Porto will also be renovated to reopen its doors as a Crowne Plaza Porto this fall. Located in the business neighborhood in the city, it will have 190 rooms and 42 suites.

"Lisbon is one of the most visited tourist destinations in Southern Europe and the signing of InterContinental Lisbon overlooking the city of Lisbon and Park Edouardo VII is a significant development for the brand in this region. Equally, Crowne Plaza Porto will be a meetings destination in its own right and well placed to provide quality accommodation and meeting support to business travelers and companies in the area," declared Robert Shepherd, Chief Development Officer Europe for IHG.

Recent tourism figures from Portugal, and Lisbon in particular, increasingly attract hotel investors. On the first six months of the year 2014, 1.5 million foreign tourists traveled to the Portuguese capital, meaning 14.3% more than during the same period last year. Supply markets with the strongest increases in occupancy on the period are France (+27.6%), the United Kingdom (+27.3%), Spain (+15%) and Germany (+13.9%). The recovery is also underway for hotel performances (read our article).
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