Report
Portugal: Hotel Market Overview
Portugal, defined as a European destination of excellence, won the seal of Best European Destination for the fourth consecutive year by the World Travel Awards 2020.
According to European Best Destinations, Portugal is considered the Best Country to visit in Europe in 2021, highlighting the beauty of the landscapes, the gastronomy, the “magnificent beaches” and the historical wealth of Portugal, marked by the historical heritage classified by UNESCO.
In 2019, after reaching an exceptional 27.1 million guests and 70.1 million overnight stays, and with total hotel revenues growing since 2015, tourism declined in 2020, dragged down by the effects of the COVID-19 pandemic.
Despite a scenario of falling tourist activity, the expectations for recovery are strong as a result of Portugal’s international image as a sustainable and safe tourist destination.
Key Facts
Tourism Demand:
- 2019: Tourism accounted for 15.4% of GDP.
- 2020: Tourism demand dropped by 35-55% compared to the previous year.
Tourism and Economic Impact
The pandemic drastically affected the tourism sector in Portugal, with overnight stays plummeting to levels not seen since 1993. Domestic tourism contributed 13.6 million overnight stays (-35.3%), while international tourism added 12.3 million (-74.9%). Overall, the hotel industry saw only 6.5 million guests and 14.5 million overnight stays in 2020, leading to a 68.6% drop in revenue.
Market Analysis
Despite the severe impact, the primary source markets for Portugal remained consistent, with the United Kingdom, Germany, and Spain leading, accounting for 16.3%, 14.6%, and 14.5% of the market share, respectively.
Guest and Overnight Stay Trends
- 2019 vs. 2020:
- National overnight stays: 21.1 million (2019) to 13.6 million (2020).
- International overnight stays: 49.1 million (2019) to 12.3 million (2020).
Hotel Sector Performance
The hotel sector experienced a significant reduction in guests and overnight stays in 2020, affecting all categories of hotels. Lower-category hotels (three-star and below) saw an increase in overnight stays compared to 2019.
Key Performance Indicators (KPIs):
- Occupancy: Dropped from 47.3% in 2019 to 24% in 2020 (-49%).
- Average Daily Rate (ADR): Decreased from €89.2 to €78 (-13%).
- Revenue Per Available Room (RevPAR): Fell from €49.4 to €22.6 (-54%).
מחברים
הורד דוח
תובנות קשורות
ניתוח חדשני.
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