Start with Hotel Palácio Príncipe Real, which is exactly the kind of base I’d recommend for you and your two adult children: central enough to get around easily, but tucked into a calmer, slightly elevated part of town so you’re not sleeping right on top of the New Year’s Eve chaos. This neighborhood has good restaurants, easy taxi access, and a more relaxed feel than Baixa or the waterfront. When you book, ask very specifically whether they can arrange a rooftop, terrace, or “fireworks-view” package for December 31 — those book out early, and the best setup is usually a table or private access rather than just “somewhere on the roof.” Expect check-in around mid-afternoon, with a bit of time to settle in, freshen up, and confirm your evening reservation. If you’re arriving by car, don’t count on street parking; use the hotel’s arrangement or arrive by taxi/ride-hail, which is the easiest way to avoid stress.
Head up to Miradouro da Senhora do Monte in Graça for a pre-dinner sunset stop. It’s one of the city’s best high viewpoints, with a wide sweep over the old center, the river, and the castle hill — and it gives you a real sense of where the fireworks will sit in the skyline later. From Príncipe Real, a taxi or ride-hail is the simplest option and takes about 10–15 minutes depending on traffic; buses and trams are possible, but on NYE I’d save the energy. Stay about 45 minutes, take in the view, and then head back down before the area gets too crowded. It’s a lovely, low-effort way to get that “Lisbon on New Year’s Eve” feeling without committing to the waterfront crush.
For dinner, go to Belcanto in Chiado — this is your splurge, memorable-night reservation, and it’s the right kind of place for a special family celebration. Book as far ahead as possible; on New Year’s Eve, a tasting menu can run roughly €150–€300+ per person, depending on wine pairing and menu choice, and the table turnover tends to be tightly timed. From Graça, a taxi back toward Chiado is easiest and usually takes 15–20 minutes. Plan on a long, unrushed meal of about 2.5 hours, then wander a little through Chiado and Baixa before making your way back to the hotel or up to your rooftop reservation.
Your best strategy for fireworks is not to join the masses at the river unless you really want the full public-party experience. Instead, reserve a well-reviewed rooftop bar or private rooftop event at your hotel in central Lisbon and confirm the exact view corridor in advance — you want a clear sightline toward the city and river, not just a “rooftop vibe.” Ask whether the package includes a standing terrace area, seated table, champagne, and whether access is ticketed for outside guests or just hotel residents. Good rooftop spots in central areas fill up fast, and many have minimum spends, so expect this part of the night to be the most competitive. Stay there through midnight and the first round of fireworks, then linger a bit while the biggest rush settles; it’s usually far more pleasant to watch from above than to fight for elbow room on the street. Dress warmly even if the day is mild — rooftops can get windy.
If you want to step out briefly after midnight, head to Praça do Comércio for the classic atmosphere, but keep your visit short. It’s the city’s iconic celebration square, and the energy is fun, but it gets very dense very quickly, so this is more for the experience than for comfort. A taxi or a short walk-down from central Lisbon works, but be prepared for slowed movement and crowded exits; I’d give it 30–45 minutes max before heading back. On January 1, ease into the day with Copenhagen Coffee Lab in Príncipe Real for excellent coffee and pastries — it’s an ideal reset after a late night, and you’ll spend roughly €6–€12 per person. Go early-ish if you want it quiet, then take the rest of the morning slowly.