Hotel investment up 82% to €512 million – CBRE

Hotel investment in Portugal rose by 82% to €512 million in the first half of the year, property consultancy CBRE has said in a statement today.

According to the consultancy’s data, “Portugal accounted for around €512 million in investment, recording a significant year-on-year increase of 82%”, while Spain reached €2.1 billion – an 18% rise compared with the previous year.

“This is the highest volume recorded in a first half-year since records began,” said CBRE.

CBRE noted that during the first six months of the year, “88 hotel assets were transacted” in the two countries, compared with 74 in the previous year, totalling more than 10,100 rooms – 9% more than in the first half of 2025.

In 2025, the Iberian Peninsula accounted for 19% of total investment volume in Europe, compared with 14% in 2020, “positioning itself as the second most active market for hotel investment, behind only the United Kingdom”.

CBRE went on to explain that “five-star and ultra-luxury establishments accounted for 47% of all hotel investment recorded in the Iberian Peninsula” in the first six months of the year, noting that “the trend was particularly pronounced in Portugal, where this segment accounted for 85% of investment volume”.

Iberian investors accounted for around 55% of all hotel investment recorded in the region; in Spain, “domestic investors clearly predominated, with around €1.4 billion invested, while in Portugal almost all activity was led by international buyers”.

Buyers from France also stood out, with around €357 million, and from the United Kingdom, with over €225 million invested, “channelling a significant portion of this capital into the Portuguese market”, said CBRE.

Institutional investors also remained the most active during the first half of the year, “accounting for around €1.2 billion, equivalent to half of all hotel investment recorded in the Iberian Peninsula”.

According to CBRE’s data, hotel chains accounted for 25% of the volume, “with around €681 million, while private investors accounted for nearly 23% of total investment”.

As for the rest of the year, the outlook remains positive, CBRE notes, citing data from the European Hotel Investor Intentions Survey 2026, “in which Spain ranks as the most attractive market for hotel investment in Europe, with Portugal occupying fourth place” with France, and behind Italy (2nd place) and the United Kingdom (3rd).

Source: LUSA

Natasha Donn

Journalist for the Portugal Resident.