CBRE expands Hotels team in Portugal

London, 4 January 2018 – CBRE Hotels has announced the appointment of Duarte Morais Santos to lead the new hotels team in Lisbon, as part of CBRE’s growth expansion of the hotels division in Portugal.

Duarte joins from Roland Berger and brings specialist knowledge and experience from the tourism and transport sector. He will be responsible for all advisory and transaction services in Portugal and will work closely with the Spanish hotels team, led by Jorge Ruiz, and the wider EMEA team, to support the increasing activity levels in the hotels market across Portugal. 

Duarte’s appointment will enhance CBRE’s Hotels’ service capability and provide a greater breadth of service for its clients.

Jorge Ruiz, Head of CBRE Hotels in Spain, commented: “The hotels market is an increasingly important component of our business platform in Southern Europe and I am extremely pleased to have someone of Duarte’s experience and capabilities leading the Hotels team in Portugal.  His previous experience will help strengthen our service offering in the hotels market and the wider business.”

Francisco Horta e Costa, Managing Director of CBRE Portugal, added: “We are pleased to welcome Duarte to our hotels team, his experience and knowledge will prove invaluable for both the hotels team and our clients.”

Duarte Morais Santos, commented: “I am delighted to be joining CBRE’s hotels team in Portugal to help establish and expand the service offer. It’s an exciting time for the hotels market in Portugal. The country’s tourism sector has demonstrated its resilience during the financial crisis and as a result the hotel market has experienced strong demand which has had a positive impact on performance and driven increase in hotel supply. We have been contacted by all types of international investors, interested in particular in Lisbon, Porto and the Algrave, but with growing appetite for new destinations.” 

Portugal's hotel market has experienced strong growth in demand over the past few years, which has had a positive impact on performance and has driven an increase in hotel supply. RevPAR has increased by 13% year-on-year from 2013 to 2016, contributing to an increase in investment volumes year on year.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue).  The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.