As Gustavo Castro, the man responsible for research at Colliers Portugal, observes, “the objective of all hoteliers is to combine a rapid acceleration of cost together with occupancy rate. In 2016, the occupancy rate, whether in Lisbon or Porto, will be over 70%, and the RevPar, in Lisbon will be over 70 euros.”
Propelled by the good market performance, the number of hotels in the main Portuguese cities continues to rise, and in Lisbon and Porto combined there should be at least 2,500 new hotel rooms over the next two years, a rise of 10% over the current supply, Colliers estimate. In the last three years, in fact, 3,500 new hotel rooms were registered in these cities.