Lisbon Hotel Prices Rise Over 13% in June, Reaching New Highs for the Month

31 July 2018

Hotels in the city of Lisbon reached a new high this year, with increases of 22.1% for 3-star, 15.8% in for 4-star and 13.2% for 5-star hotels, according to data released by the Lisbon Tourism Observatory.

The data noted that prices rose by 22.59 euros to 193.39 euros in 5-star hotels, 14.3 euros to 104.61 euros for 4-star hotels, and 16.34 euros to 90.37 euros for 3-star hotels.

The information compiled by PressTUR shows that in the case of the 5-stars, the rise exceeded the maximum reached in June 2008, at 176.88 euros, while 4- and 3-star hotels exceeds the previous highs in 2017, of 90.3 euros and 74.03 euros respectively.

The data does not show it, but the increases in June may reflect, to a certain extent, meetings of the Ismaili community to celebrate Aga Khan’s 60 years of leadership in Lisbon, in early July.

The price increases in June, however, did not differ greatly from the average increases in the first half of the year, which were 17.2% for 3-star, 12.3% for 4-star and 10% for 5-star hotels, reaching new highs for the period, at 172.38 euros for 5-stars, €91.71 for 4-stars and €77.12 for 3-stars.

As for RevPAR, which tracks the average price for the room occupancy, June’s figures indicate a significant acceleration, especially in high-end hotels.

According to the Observatory, in June, RevPAR for 5-star hotels reached €155, up 16.1% or €21.54, as the increase to the average price of 13.2% or €22.59, added to an increase in the occupancy rate of 2.6% to 80.15%, which is a new record for the month of June.

A similar situation occurred with 4-star hotels, which reached a record occupancy rate for the month of June of 92.29%, +1.7% or +1.57 points over a year ago, and with the rise in the average price of 15.8% or 14.3 euros, reached a record for RevPAR for the month of June of 96.54 euros, +17.9%, up by more than 14.62 euros over a year ago.

3-star hotels also reached a new record for RevPAR in June at 82.12 euros, +21.2%, or by 14.39 euros compared to a year ago. In this case, however, it was solely through an increase in the average price of 22.1%, or 16.34 euros, because they suffered a slight fall in occupancy of 0.7% or 0.62 points, to 90.87%, which is nevertheless the second highest ever for the month of June, down from 91.49% last year.

Original Story: PressTUR

Translation: Richard Turner