Local Accommodations Begin Slow Recovery

14 September 2020 – The local tourist accommodation market in Lisbon and Porto saw a slight uptick in activity as occupancy reached, an admittedly awful, 12% and 17%, respectively, in July.

According to figures from Confidencial Imobiliário’s report SIR – Local Accommodations, it is the sector’s best performance since the pandemic began. Though occupancy remains depressed compared to 69% and 66% in July 2019, it is an improvement compared to May, when occupancy levels touched 3% in Porto and 5% in Lisbon.

Average monthly rates for local accommodations have held steady, however. In July, the rate stood at 91 euros/night in Lisbon and 75 euros in Porto.

Original Story: Vida Imobiliária – Ana Tavares

Translation/Summary: Richard D. Turner