Former Navy Hospital in Alfama to be Converted into Luxury Hotel 'The Standard Lisbon'
The former Hospital da Marinha, a significant 19th-century edifice in Lisbon's historic Alfama district, is being repurposed into a five-star luxury hotel. The new establishment will operate under the international brand 'The Standard', marking its entry into the Portuguese capital. The redevelopment project, which covers an area of approximately 16,000 square meters, is being executed by the Portuguese construction company Ecoárea, a subsidiary of the Libertas Group.
The project will result in the creation of 'The Standard Lisbon', a hotel comprising 173 guest rooms. The architectural design for the rehabilitation is authored by Portuguese architect Samuel Torres de Carvalho, while the interior design has been assigned to Spanish designer Jaime Hayon. The hotel is part of the 'The Standard' chain, which operates in cities such as Miami, Bangkok, and New York and was recently acquired by the American Hyatt group. The completion of the construction work is scheduled for 2026.
This new hotel development is located adjacent to the 'Palácio Santa Clara – The Standard Residences', a private condominium featuring 32 branded residential apartments, which will also be managed by 'The Standard' brand. The promoters for both the hotel and the residential projects are Stone Capital and Libertas. The conversion of the historic hospital, which was in operation for more than 200 years, represents one of the largest rehabilitation projects currently underway in Lisbon.
A representative from the development team stated that the project aims to respect the building's heritage while introducing a contemporary hospitality concept to the area. The choice of 'The Standard' brand, known for its modern and lifestyle-oriented approach, indicates a strategy to attract a discerning international clientele to one of Lisbon's most traditional neighborhoods.
The construction company, Ecoárea, reported a turnover of 41 million euros in 2024 and has previously been involved in other significant rehabilitation projects in the Lisbon metropolitan area. These include the 'UNIQUE Chiado' building in central Lisbon and the 'Upon Vila' development in Alcochete. The current project in Alfama further establishes the company's role in the urban regeneration of historic properties in the region.
The introduction of a luxury hotel and branded residences in Alfama is expected to have a notable impact on the local real estate market. The project aligns with a broader trend of converting historic assets in Lisbon into high-value properties aimed at the tourism and luxury residential sectors. The development is anticipated to draw further investment interest to the Alfama district and surrounding areas.
Industry observers note that the combination of a historic building, a prime location, and a well-known international brand is a formula that has proven successful in other European capitals. The project is seen as a vote of confidence in the long-term strength of Lisbon's tourism industry and its appeal to international investors. The involvement of established promoters like Stone Capital and Libertas underscores the project's financial and strategic significance.
The announcement provides concrete details for market analysis, including the number of rooms, the scale of the development, and the key firms involved. The 2026 completion date sets a clear timeline for the project's delivery and its expected entry into the market. This information is critical for stakeholders tracking new supply in Lisbon's hospitality sector and for real estate professionals assessing property value trends in the historic center.
The development of 'The Standard Lisbon' and its associated residences will be closely watched as a benchmark for future rehabilitation projects in the city. It highlights the ongoing transformation of Lisbon's urban fabric, where historical preservation and modern economic development are increasingly intertwined. Monitor new development opportunities at realestate-lisbon.com.
