Jehan Numa Group has acquired Lisbon Serviced Apartments by Numa (LSA) for an undisclosed amount. The deal transfers ownership of the Portuguese short-stay apartment operator to the Indian hospitality group, which is known for its heritage hotels in Bhopal. LSA will continue to operate under its existing brand and management structure.
LSA, founded in 2009, manages more than 400 apartments across 20 buildings in central Lisbon. The company does not own the properties it operates; instead, it manages third-party buildings for a portfolio of investors, ranging from institutional players to individual owners. Its model focuses exclusively on short-term rentals, with daily maid service, linens, and complimentary internet included in every booking. Jehan Numa Group, by contrast, has built its reputation on full-service hotels, including the Jehan Numa Palace and Jehan Numa Hotel in India.
The acquisition gives Jehan Numa Group a direct entry into the European short-stay market, a segment that has grown steadily in Lisbon due to tourism demand. For LSA, the deal provides access to the group’s operational expertise and financial resources, which could support further expansion of its managed apartment network. The transaction also diversifies Jehan Numa’s portfolio beyond traditional hotels, adding a scalable asset-light model that does not require property ownership.
Both companies have indicated that LSA’s day-to-day operations will remain unchanged, with existing staff and partners staying in place. The combined entity will now span two distinct hospitality formats: heritage hotels in India and serviced apartments in Portugal. The group is expected to explore cross-selling opportunities between its hotel guests and LSA’s apartment clients, though no specific plans have been disclosed. The acquisition positions Jehan Numa Group to build a broader European presence, while LSA gains the backing of an established hospitality operator.