Berlin/Lisbon, July 15, 2025 – NUMA Group today announces the acquisition of Lisbon Serviced Apartments (LSA), one of Portugal's most storied hospitality operators, significantly strengthening its presence in Portugal and expanding its European portfolio to more than 11,000 units across 42 cities in 15 countries. The transaction, completed through a joint venture with CoRe Capital, represents another milestone in NUMA's long-term strategy to build Europe's leading digital hospitality platform.
The acquisition adds 19 properties across Lisbon's most sought-after neighbourhoods, including Chiado, Príncipe Real, Alfama and Avenida da Liberdade. Built over more than 15 years, the portfolio has earned a strong reputation for high-quality accommodation and exceptional guest experiences, significantly strengthening NUMA's presence in one of Southern Europe's most attractive urban hospitality markets.
Portugal continues to be a strategically important market for NUMA, with strong long-term demand for professionally managed urban accommodation. The acquisition further expands the company's footprint in Lisbon while supporting its wider strategy of growing across Europe's leading gateway cities through a combination of strategic acquisitions, institutional partnerships and organic development.
The transaction also reflects a broader trend towards consolidation across Europe's urban hospitality sector, as independent operators increasingly integrate with technology-enabled hospitality platforms capable of delivering stronger distribution, operational efficiencies and long-term asset performance.
Christian Gaiser, CEO and Co-Founder of NUMA Group, said:
"Our ambition has always been to build Europe's leading digital hospitality platform by partnering with exceptional businesses in the continent's strongest urban markets. LSA has built an outstanding reputation over more than 15 years, and together with CoRe Capital we look forward to building on that foundation through our technology platform, operating expertise and long-term growth strategy.
Portugal remains an important market for NUMA and this acquisition represents another step in our continued expansion across Europe."
Founded in 2009 by Luís Milagres e Sousa, LSA has grown into one of Lisbon's most respected hospitality operators, developing a portfolio of 19 properties across the Portuguese capital and becoming recognised for its quality, service and local expertise.
Luís Milagres e Sousa, Founder of Lisbon Serviced Apartments, said:
"When I founded LSA, the ambition was simple: to create accommodation that reflected the character, quality and hospitality of Lisbon. I am incredibly proud of what our team has achieved over the last 17 years and excited to partner with NUMA and CoRe Capital as we begin the next chapter of the business."
Under the terms of the agreement, NUMA will hold operational decision-making authority over distribution and revenue strategy, and the LSA portfolio will be integrated onto NUMA's proprietary technology platform through a phased programme covering digital guest services, revenue optimisation and operational systems. The integration will further strengthen operational performance while preserving the character and quality that have made LSA one of Lisbon's most respected hospitality businesses.
Pedro Araújo e Sá, Senior Partner at CoRe Capital, said:
"Technology-enabled hospitality continues to represent an attractive long-term investment opportunity. NUMA has demonstrated an exceptional ability to combine technology, operational excellence and disciplined expansion, making it the ideal partner to support the continued growth of the LSA portfolio."
The acquisition reinforces NUMA's strategy of partnering with investors, developers and property owners to build one of Europe's leading digital hospitality platforms. As the company continues to expand across key European markets, strategic acquisitions will remain an important part of its long-term growth strategy.
About the NUMA Group
Berlin-based NUMA Group is the leading European operator of a fully digitized hospitality platform. The company offers modern travelers innovative design accommodations. As a reliable partner for investors, owners, and developers, NUMA utilizes proprietary technology-based operator solutions that largely automate operational processes, increasing cost efficiencies and revenues. NUMA successfully operates nearly 11,000 units in leading European A-cities, including Berlin, London, Paris, Rome, Milan, Madrid, Barcelona, Oslo, Prague, and Vienna.
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