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2025 was, for Real Hotels Group, a year of consolidation.

The reporting perimeter widened to 17 units, with the three Amazónia units acquired in 2024 and the August opening of Holiday Inn Express & Suites Lisbon – Príncipe Real. In the Algarve, Real Bellavista Hotel & Spa reopened in June under the Holiday Inn Algarve Albufeira brand. The Group reached €93.4 million in revenue, with 560 108 room nights sold, 1 054 323 guests and occupancy of 75.3%.

On units comparable across both years, energy consumption fell, as a result of the lighting and HVAC work described in Operate Smart. Renewable sources were 53% of the electricity the Group consumed. On people, the Group averaged 986 employees, delivered 8 869 hours of training, 12.5% more than in 2024, and welcomed 106 interns.

External recognition followed. In March, Hotel Real Palácio and Grande Real Villa Itália Hotel & Spa received the HEART “We Share” seal from AHP, for goods donated to social-solidarity institutions. In May, Grande Real Santa Eulália Resort & Hotel Spa and Grande Real Villa Itália Hotel & Spa were nominated for the Prémios Líderes do Turismo, in Best Family Hotel and Best Luxury Hotel. In October, 11 units received Green Key 2025. In November, Grande Real Villa Itália Hotel & Spa was distinguished as Best for Meetings & Events at the Condé Nast Johansens Awards for Excellence 2026, the unit’s second consecutive distinction in that standard, after Best for Romance in the 2025 edition.

Dear stakeholders,

In the previous report we set out a new vision of committed hospitality for 2025-2027.

This report says what we learned by applying it.

The Group is not a model copied from one unit to the next: it is the sum of hotels that matter for what each of them is. A Group-level strategy gave everyone the same plan, but left out precisely what distinguishes them — and it is that singularity that gives a guest a reason to choose, a community a reason to want us, and a team a reason to stay.

We reversed the direction. Strategy now starts in the place and rises to the Group, guided by one question: what do we owe the site where we exist? We ask it of four addressees — ourselves, the place, Portugal and the world. That is what Belonging means: not merely being somewhere, but belonging to it and answering for that.

The answer cannot be the same in Olhão, in Porto or on Avenida da Liberdade, so each unit will have its own Neighbourhood Pact, built with the people who live there. Shared are the method and the standard; specific is the content.

None of this is fulfilled without the people who make our hotels: it is in them that the first of the four questions finds an answer. My thanks to them; and to all of you — employees, partners, guests and communities — the invitation to go on, together, building hotels that truly belong to their places.