For the past several years, Portugal has welcomed a growing number of Americans who want to live in this stunning European country perched on the Iberian Peninsula. An excellent year-round climate, fantastic beaches a short distance from the capital, great food, high quality of life and low living costs are some reasons Americans move to Portugal. There are also some successful tax incentives that U.S. citizens can benefit from in addition to being able to own a palace!
While not everyone moving to Portugal is looking for a palace, these magnificent and historic structures represent some very intriguing investment, hospitality and business opportunities. At Luxury Hotel Advisors, we think this may be one of the best ways for an independent luxury hotel or luxury brand to garner immediate attention.
Here are a few reasons why you might want to consider buying a palace in Portugal for use as a luxury hotel.
Rich Cultural Heritage
Portugal’s palaces are a testament to the country’s rich cultural heritage. They were built during the country’s golden age, when Portugal was a dominant power in the world. These palaces are a symbol of the country’s grandeur and many have been impeccably maintained over the years. By purchasing a palace and turning it into a luxury hotel, you will be preserving a piece of Portugal’s history and culture that will be shared with travelers for generations.
A Truly Unique Palace
A luxury hotel housed in an 18th century palace is a unique selling point that will set it apart from other hotels in the area. Guests will be drawn to the hotel’s historical significance, architecture and splendid decor. The palace’s history and unique features will also provide an opportunity to offer guests a truly unique and memorable experience that can easily be showcased on social media platforms.
Location, Location, Location
Many of Portugal’s palaces are in prime locations in the heart of the city, offering stunning views of the surrounding landscape. They are easily accessible to guests who want to explore the local area and immerse themselves in the culture. There are also palaces located only about 10 miles away from Lisbon that offer hundreds of acres with an existing palace and significant development opportunities including options for residences that can be sold and added to the room count for rental.
A Legacy Investment
Investing in a palace and turning it into a luxury hotel can be a profitable venture and an enduring legacy in your portfolio. Portugal is a popular tourist destination and the demand for high-end accommodation is high. A luxury hotel housed in an historic palace is sure to attract high-end guests who are willing to pay a premium for the privilege of living like royalty.
Portugal offers a range of tax incentives to foreign investors who want to be involved in the country’s tourism industry. These incentives can include reduced corporate tax rates, tax exemptions, and other financial incentives.
Is a Palace Right for Your Portfolio?
So, if owning an historic palace for personal use or for use as an ultra-luxury hotel, appeals to you, give us a call. Luxury Hotel Advisors is working with several owners in Portugal and we have access to several of the most exceptional palaces in Lisbon and the surrounding area. These trophy assets are rarely made public and having the right connections is the best way to understand what is quietly available.
A palace in Portugal certainly presents a unique and exciting investment opportunity. Portugal’s palaces are a testament to the country’s rich history and culture, and by investing in them, you are also preserving a piece of Portugal’s heritage for future generations while providing travelers a once in a lifetime experience. To learn more about opportunities for luxury hotel investments visit our listings page and for more general information on investing in hospitality assets, visit our library.