The building is located in Lisbon, at Avenida 24 de Julho next to the Tagus river. Although no detailed information was provided concerning the hotel project, the company’s CEO Kike Sarasola remarked on his Twitter account that this «likely won’t be Room Mate’s only» investment in Portugal.
Last January, the company had already revealed its intentions to invest in Portugal. At the time, Spanish newspaper Expansión revealed the company’s investment plans until 2020: to build 15 new hotels, with 3.000 new rooms.
Since then, Room Mate acquired 6 more hotels, increasing its portfolio to 28 assets. According to news agency EuropaPress, these buildings are spread out across 5 Spanish cities (Madrid, Barcelona, Malaga, San Sebastián and Granada), six European cities (Amsterdam, Florence, Milan, Rotterdam, Paris and Sicily) and 4 non-European cities (Miami Beach, New York City, Mexico City and Istanbul).