According to a report by ECO, the deal will be closed for around 75 million euros, a value that is below the 100 million that was being requested for the five-star hotel building, located on Avenida da Liberdade. The investor is reported to be a French group that will also buy the Sofitel Roma Villa Borghese building, for the same value as the Lisbon property.

With this sale, the Accor group – one of the largest hoteliers in the world – will become a tenant of the Lisbon property, with the hotel continuing to be operated by the luxury brand Sofitel.