Numa Group has acquired Lisbon Serviced Apartments, one of Portugal’s leading operators of holiday apartments, through a joint venture with the private equity fund CoRe Capital. The deal adds 19 properties to its portfolio, located in some of Lisbon’s most iconic areas, and strengthens the group’s presence in the Portuguese market.
The properties are spread across neighbourhoods such as Baixa-Chiado, Príncipe Real, Alfama and Avenida da Liberdade, enabling Numa to expand its footprint in a city where limited property availability and high tourist demand make it difficult to secure new assets.
Founded in 2009 by Luís Milagres e Sousa, Lisbon Serviced Apartments has spent nearly two decades developing a portfolio specialising in holiday apartments, which will now be progressively integrated into the European operator’s technology platform. The process involves the implementation of its revenue management tools, the digitalisation of the guest experience, and operational and brand integration under the Numa umbrella.
Under the agreement, the group will take over the operational management of the joint venture, with responsibility for commercial and distribution strategy, while the integration will take place in phases.
“Portugal is an important market within Numa's European growth strategy, and this acquisition marks another significant step in expanding across Southern Europe”, said the company.
With this acquisition, Numa’s European portfolio now exceeds 11,000 units spread across 42 cities in 15 countries, strengthening its position in the digitalised hotels and holiday apartments segment.
