The group, which is dedicated to private capital investments dedicated to the hotel industry, indicated that, with the acquisition, it continues its expansion in Europe, at a time when it also acquired a unit in Rome, Italy.

“These two acquisitions mark the beginning of our partnership with Sofitel, a pioneering brand in French luxury hotels,” said Bertrand Pullès, deputy general director of Extendam.

In Lisbon, the hotel will now be renovated, with a focus on sustainability, “and will be updated according to the latest standards of the Sofitel brand”, according to the statement.

This operation is being carried out together with DG Invest, “one of Extendam's historical partners” who will be in charge of “the management of the hotel's assets”, and “the acquisition and renovation of the hotel are financed with a ' green loan' [loan for sustainable projects] granted by CaixaBank and BPI”.

Sofitel, in turn, said that the partnership with Extendam will “support the brand's influence” in Europe, said the group's executive president, Maud Bailly in the same note. The acquisition value was not disclosed.