Newmark Hotels has acquired a stake in Unlock Boutique Hotels in Portugal and will now partly own properties in Porto, Evora, Monchique, Lisbon, Viana do Castelo, Grandola and Amarante.
The agreement took two years to finalise and is expected to significantly expand the company’s presence in Europe.
Unlock Boutique Hotels is a selection of boutique hotels and suite and apartment properties. Its 10 hotels all feature wellness, conferencing and event facilities.
Newmark has also set its sights on other high-growth countries including the United Kingdom, France and Spain – an imminent move in line with its European expansion strategy.
