Estudos de mercado
Portugal Hotel Markets Market Dynamics, Q3 2024
Summary and analysis of Portugal's current hotel real estate market conditions.
Novembro 05, 2024
Contributors:
- Karina Simões
- Nuno Silva
- Manuela Chen
Hotel guest numbers increased by 5.3% year-over-year and 21% compared to two years ago, indicating a robust recovery and expansion in the tourism industry.
While there was a 9% decrease in flight passengers compared to 2023, this is still an 11% above 2022 levels, suggesting a stabilization in arrivals after a post-pandemic surge.
Both occupancy rates and the average daily rate (ADR) are increasing across Portugal, with stronger growth in ADR nationwide (11%) compared to Lisbon (9%), indicating that regions outside the capital are driving national growth in the hospitality sector.
