Hyatt lands both Andaz at Praça do Comércio and The Standard in Alfama, Six Senses and Nobu arrive in 2026, and HVS counts 32 projects for 2,600 rooms by 2028 — Lisbon's biggest supply wave, aimed squarely upscale.
The 2025–2028 wave is Lisbon's largest since the 2010s expansion: 32 projects, ~2,600 rooms, concentrated in upscale and upper-upscale branded product. Entries below are operator- or analyst-confirmed.
Hyatt's first Andaz in Portugal converts the former Banco Português de Investimento offices steps from Praça do Comércio: 170 rooms and suites, a rooftop Andaz Lounge and a signature restaurant — a statement address on Lisbon's grandest square.
Newly acquired by Hyatt, The Standard transforms Alfama's 19th-century Palácio Santa Clara — the former naval hospital — into 197 rooms and suites plus long-stay apartments, with the rooftop terrace and gardens over the Tagus as the centrepiece.
Six Senses brings its wellness-first formula to a Lisbon city hotel — 114 rooms with the brand's signature spa and sustainability programming, one of the year's most watched European debuts.
Nobu's restaurant-first luxury model arrives in Lisbon with 72 rooms — targeting the same transatlantic, gastronomy-led traveller that has made the city America's favourite European gateway.
Marriott adds its Tribute Portfolio flag beside Eduardo VII Park — 98 rooms with a rooftop pool and bar — as 80%+ of the pipeline lands in branded upscale and upper-upscale tiers.
Lisbon's pipeline is priced scarcity meeting pent-up brand demand. ADR held flat in 2025 after years of double-digit climbs — HVS reads that as the market testing its ceiling — yet 32 projects and 2,600 rooms are still coming, 80% of them branded and upscale. That is capital betting the ceiling is a pause, not a top. For the traveller: this is the best opening-season market in Western Europe — Andaz and The Standard will price their first seasons below the established palace hotels, and the Alfama and Baixa conversions put luxury beds inside the most walkable historic fabric. For the watcher: the flag mix is the story — Hyatt alone opens two lifestyle brands the same year, and Six Senses plus Nobu confirm the wellness-and-gastronomy axis. If 2026 absorption holds occupancy near 74%, expect the pipeline to swell again; if it slips, the Alcochete decade gives the market time to digest. Watch HVS's 2026 read.
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