Hotel industry at the top

The most recent report on the hotel market by Colliers International confirms the excellent moment in Lisbon and Porto’s hotel market, where prices have been increasing at a staggering pace, unparalleled with any of the major European touristic destinations.

Although occupancy has slowed down, Lisbon and Porto occupancy rate will close the year, nearing 80%. “After increasing 20% in the past 5 years and given the remarkable increase in room supply (more than 4.500 rooms in both cities), it is astonishing that Porto and Lisbon are able to consolidate occupancy close to 80%, given constraints inherent to seasonality, geographic scattering and externalities” informs Gustavo Castro, Research, Colliers International.

In their annual report, Colliers highlights Lisbon’s ascent to the top of the main European touristic cities. Occupancy in Lisbon is among the highest in Europe and ARR, no longer pales to comparison with the best performing cities in Europe. And Lisbon is not alone, “Porto preserves a growth potential without comparison in Europe, with RevPAR expected to continue its upwards path in the near future” continues Gustavo Castro.

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Gustavo Castro

Head of Porto Office

Porto

Gustavo joined Colliers in 1999 as a Junior Consultant. Gustavo's work was highly appreciated and in 2000 became Senior Consultant. In 2001, Gustavo was appointed head of the Porto office. In 2007 and 2008, he assisted Colliers' local offices in Africa (Mozambique and Angola).

Since 2008, Gustavo is not only responsible for the Porto office but also for the Research Team.

The Research Team has vastly improved their performance, covering several types of properties and periodically monitoring the most important property markets.

You can connect with me on LinkedIn.

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