LOCATION REPORT


w new portugal – a


as one of the sick men of Europe. Yet tourism remains one of the country’s most important industries. Prior to the recession, in 2007, according to Cushman & Wakefield’s Business Briefing on the Portuguese Hotel Market, an expected €5.7bn was earmarked for investment in 57 projects in the five regions identified by PENT(the Ministry of Economy and Innovation’s Plano Estratégico Nacional do Turismo). In particular, ‘residential tourism’ was identified as a lever for major hotel invesments outside the traditional area of investment – ‘sun & sea’, and golf. The country’s peripheral location on the edge of Europe, difficulties in obtaining planning permission for new projects, and the relative strength of its domestic hotel brands, had


P


ortugal has suffered a torrid time as the global recession has unfolded. Parcelled in with its partners in the PIGS economies, it has been viewed


stifled investment, with international brands relatively weak in the country. Nevertheless there are signs that Portugal’s hotel offer is diversifying and although numerous projects have suffered delays, if not outright cancellation, new hotel projects – particularly those funded pre-recession, have come to fruition over the past 18 months. Lisbon, The Algarve and Madeira remain the key centres for new hotel development, with other areas such as the West and the Alentejo Coast benefitting from residential tourism projects based around golf courses. Other projects have taken their natural


surroundings as the inspiration for their design and architecture. Noteworthy projects include Martinhal – a luxury family friendly resort and hotel which is the last development permitted in the region around Sagres on the Southwest coast, now denominated as a Parque Natural do Sudoeste Alentejano e Costa Vicentina. Unicer’s restoration and redevelopment of


048 NOVEMBER / DECEMBER 2010 WWW.SLEEPERMAGAZINE.COM


ave of hotels breaks out


the iconic Vidago Palace in the spa town of the same name near Porto has finally come to completion with the input of Paris based GLA International. Elsewhere the Champalimaud family, owners of the Quinta da Marinha estate within the Sintra Cascais National Park, have created a new luxury hotel, The Oitavos, with designs that maximise its views over the Atlantic.


Other properties to have opened in 2010


include Areias do Seixo Hotel & Spa on the West coast north of Lisbon – a ten suite boutique property designed by Vasco Vieira, formerly the Chief Architect of Vale do Lobo, on the West coast north of Lisbon; Inspira Santa Marta, an urban oasis in downtown Lisbon with a sustainable ethos and Feng-Shui interiors; and Monchique, the mountain village set a few miles inland from the Algarve coast, has seen the opening of Longevity Wellness Resort, a holistic eco-friendly resort with wellness at the heart of its offer.


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