Lisboa, Lisbon

Hotel to renovate approved by Turismo de Portugal PROPERTY IN ITS CURRENT STATE: The property consists of 2 buildings side by side and an open plot (backyard). The external supporting walls are in excellent condition. Remodeling works started. This property was acquired with a preliminary approved project (PIP) for the construction of 6 large apartments for housing, an in-depth analysis of the business model was made. This analysis found an efficient way to improve the project by considering the following: BUSINESS CONCEPT: Reconstruction of the existing property in a 4-star hotel consisting of 34 independent units (rooms, apartments, commercial space, café/bar and restaurant and parking for 9 cars). Prime Location: Located in the historic center of Sintra, this property represents a strategic investment choice, maximizing its global appeal. Sustainable Tourism Growth: The local tourism industry is popular with over 5 million tourists per year and growing every year. This provides investors with the assurance of lasting allure and sustained returns. Exclusivity: There is only a finite amount of real estate in the historic center and it is protected by regulations that restrict development. This limits the supply of new properties and makes existing properties more valuable. The demand for real estate in the historic center is also high, which makes prices rise even more. As a result, properties in the historic center are highly sought after and exclusive. Housing Shortfall: The ongoing shortfall of tourist accommodation presents a lucrative niche market for investors, ready to meet this demand. Interest of the Municipality: The municipality supports the recovery of the historic center of Sintra (ARU zone), and offers tax benefits to developers (6% VAT instead of 23%). Untapped Potential of Areas: This property offers significant untapped potential, as its previous design underutilized the existing space. By exploiting the unused area, but maintaining the same volume of construction, the investor significantly increases the ROI of the project. Ideal business model: Short-term rentals in this prime location generate the highest revenue per square foot, making it a profitable and sustainable investment. In addition, dividing the property into smaller units increases financial flexibility and reduces risks. #ref: 112521