DoubleTree by Hilton, Lisbon Fontana Park hotel
Having already acted for Owner in relation to Operator and Brand search, as well as subsequently taking over the ongoing Asset Management services with the new operator Hilton responsible for the daily management, HotelAdvice is presently also advising owner in relation to two development projects including full feasibility work and financial appraisals. The first is an extension project of converting unsold adjacent apartment shells into 21 additional bedrooms, this project is already under construction, whilst the second project already has obtained planning permission for an adjacent site for a new build 80 executive bedroom addition which is being prepared for tender.
HotelAdvice is liaising with owner and owners architects on both projects whilst linking with the operators technical and development teams to ensure a smooth implementation of the new additional keys, eventually adding 101 additional keys to the existing DoubleTree by Hilton, Lisbon – Fontana Park hotel.
The first 21 bedrooms is already under construction and planned to commence within the room inventory from 1st September 2016 whilst the new build 80 bedroom executive wing and conference centre is planned to come online late 2018.
The DoubleTree by Hilton, Lisbon – Fontana Park has grown business very nicely since the hotels branding and turnaround commenced in 2013 and both occupancy levels and growth highlights the need for more room inventory – The hotels owner build a neighbouring block of very exclusive apartments which in present market conditions were difficult to sell. The top floor penthouse apartments had been sold, but the lower floors could be linked to the existing hotel and the feasibility studies clearly indicated a better return to go this route in the short and medium term.
At the same time, owner had been through a difficult process of obtaining planning permission for an adjacent land for further construction linking it to the existing hotel, however planning permission was granted after 6 years. This land is now earmarked for a deluxe development of 80 units averaging over 50m2.
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Jan and his team have been instrumental in the past years’ very positive repositioning of our hotel, connecting us with the right Operator and Brand, and continuing to assist us with Asset Management of the business.
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Joaquim Justino. Owner of DoubleTree by Hilton, Lisbon Fontana Park