REVENUES OF PORTUGUESE HOTELS INCREASED BY 114.6%

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REVENUES OF PORTUGUESE HOTELS INCREASED BY 114.6%

REVENUES OF PORTUGUESE HOTELS INCREASED BY 114.6% Richard Moor - Apr 24, 2023 0 Listen to this article 00:03:37 Your browser doesn’t support HTML5 audio

In 2022, the Portuguese hotel establishments reached revenues of more than 5 billion euros, an increase of 114.6% compared to the previous year, according to the consulting firm Informa D&B.

According to their study, the 2022 Portuguese hotels revenues figure exceeds by 16.5% that of 2019, before the pandemic hit the country.

The data included hotels, local accommodation units, aparthotels, tourist flats, rural and residential tourism establishments, tourist villages, inns and ‘Quintas da Madeira’. It also shows that the number of both guests and overnight stays increased last year compared to the previous year.

The number of guests rose 83.3%, just over 26.5 million guests in national tourist accommodation units, while the total number of overnight stays was 69.5 million, a significant increase of 86%.

Local accommodation establishments reported the highest percentage growth in the number of guests; on the other hand, regarding overnight stays, the highest growth was in hotels. In absolute terms, hotels also achieved the highest number of guests: 17.5 million, 66% of the total. The number of overnight stays in hotels was 42.2 million, around 61% of the total.

The data also revealed that domestic tourists were responsible for approximately 23 million overnight stays, about a third of the total, 23% more than in 2021. The remaining overnight stays were the responsibility of foreign tourists, accounting for a growth of 150%.

Among foreigners, the biggest growth was demonstrated by residents of the United States (+327%), Brazil (+265%) and the United Kingdom (+192%). The UK remains the most important source market for Portugal, making up 13% of overnight stays, ahead of German and Spain.

At the end of 2021, the supply of tourist accommodation in Portugal had 405.000 beds, an increase of 17.5% compared to the previous year. According to the study, this shows the gradual recovery of the sector. About half of the total number of beds, around 211.000, was registered in hotels.

In terms of the country’s region, the Algarve represents the highest activity in this sector, offering close to 30% of the total beds in 2021, ahead of the Lisbon area with 19%.

As for the hotels only, the Algarve continues to be the region with the largest proportion, where there is also the highest number of beds. Each Algarve hotel offers an average of 263 beds, a number that has risen during the last year, as in 2021 this average was 150 beds per establishment.

According to the categories, the three- and four-star hotels represented 65% of the total number of units, i.e., about 70% of the total capacity of Portuguese hotels.

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