Newmark Hotels, Reserves, Lodges and Residences, the management company for a selection of luxury properties in Africa, is expanding its footprint by acquiring a stake in Unlock Boutique Hotels in Portugal.
After embarking on comprehensive research alongside a rigorous, long-term growth strategy, Newmark identified a strategic acquisition opportunity within Portugal – a country ranked ahead of some of Europe’s tried-and-tested markets as an investor landmark for development prospects.
The move into the Portuguese market, specifically having a presence Porto, Evora, Monchique, Lisbon, Viana do Castelo, Grandola and Amarante, is purposefully aligned to Newmark’s growth strategy.
Unlock Boutique Hotels is a curated selection of boutique hotels each representing unique experiences that set the benchmark for authentic hospitality and cultural richness.
“Our European expansion plans are now well underway and we are excited at the prospect of optimising our shared philosophies, networks and supplier partnerships with a view to grow our respective portfolios and maximise stakeholder value,” says Neil Markovitz, CEO of Newmark.