The hotel the Portugal team will stay at is called Hotel Beau-Rivage.
Image Source: http://ww1.rtp.pt/desporto/?t=Neuchatel-vai-receber-Portugal-no-Euro-2008.rtp&article=139145&visual=5&tm=16&Top=17
It's at the very heart of Switzerland's watch-making district according to their website www.beau-rivage-hotel.ch/e/hotel.asp. Address, European style: 1, Esplanade du Mont-Blanc, CH-2000 Neuchâtel - P +41 32 723 15 15 - F +41 32 723 16 16
The veranda-bar "offers a splendid view of 
the lake and the Alps. During the day, the Veranda-Bar is the place to enjoy sweet and savoury snacks and, in the evening, it becomes a Piano- Bar"
In December 2007, the Portuguese FA announced at the hotel, that this hotel would be the headquarters of the Portugal national team. I found an article that talks about the many portuguese employees in the Hotel who can't believe they'll be so close to the team! Some of it:
Out of the 70 staffers, 12 are Portuguese. One of the Portuguese, 30 year-old Delfim Santos, was chosen to be the coordinator of the Portugal team during the EURO 2008 tournament. He was born in Vila Nova de Paiva, near Porto. At 17, he arrived in Swiztzerland to be with his family. A Benfica fan. He said "My son already asked me to get an autograph of Cristiano Ronaldo, but I said I can't promise anything. My job is to, above all, make sure they [the Portugal team and staff] don't have any problems during their stay in Switzerland."
Other Portuguese employees of the Hotel Beau Rivage. Cacilda Trani, 25, already said she plans to personally go to some of the games. She married an Italian. Felipe Lourenço, from Viseu (where {Portugal has its EURO 2008 training camp) has been living in Switzerland for 6 years.
Source: www.swissinfo.org/por/capa/Recepcao_de_cinco_estrelas_para_a_selecao_portuguesa.html?siteSect=105&sid=8805655&cKey=1206711493000&ty=st