International Hotel Chains Showing Growing Interest in Portugal

21 September 2017

The first half of 2017 saw the inauguration of 19 new hotels, reinforcing positive trends compared to the same period of 2016, with overnight stays and the number of guests showing increases of 11.6% and 13.4%, respectively.

Another 21 hotels are expected to open during the second half of the year. “This behaviour has been triggered by the trend of high demand and interest in the tourism market in Portugal,” according to Worx Research & Consulting.

The consultancy’s report also identifies that hotel supply should continue to be concentrated mainly in small/medium sized units, where differentiating factors are the priority, and products are directed towards niche segments, focusing on high quality and personalised service.

Regarding the number of guests, the first half of 2017 saw with 9.35 million visitors, and although the Portuguese domestic tourism market showed quite satisfactory results, growing 4.4% over the first semester of 2016, the international market increased by 74% and continues its prominence.  The United Kingdom, Germany, France and Spain together accounted for 41% of visitors.

“Hotel assets in the Portugal are on the radar of national and international investors looking optimise operations, look for deals or develop expansion plans,” the consultancy stated.

Original Story: Construír – Cidália Lopes

Translation: Richard Turner