overcome challenges portuguese hospitality atlas 2019 - 14 ... · preface it is with great pleasure...
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Overcome challengesPortuguese Hospitality Atlas 2019 - 14th edition
Preface
It is with great pleasure that we release the 14th edition of the Portuguese Hospitality Atlas, a tool that has already assume itself as a reference in the tourism sector and that Deloitte is proud of.
In 2018 we saw an increase in hotel supply and demand as the number of guests increased. Moreover, Lisbon is in the top 5 of European cities with higher occupancy rate - only Paris, London and Amsterdam are overcoming the Portuguese capital. This positive evolution has led many international entities to classify Lisbon and other Portuguese cities as the best tourist destinations in Europe and worldwide.
A survey made for a group of investors, also included in this report, reveals that 48% of the participants believe that the national hotel market is at the peak of investment and that by 2020 Lisbon and Oporto will remain the most attractive cities for the hotel investment. The main sources of funding are expected to come mainly from international hotel groups and investment fund management companies.
Bearing in mind that the success of this initiative is due primarily to the players who act on it daily, I would like to thank the constant support and collaboration with the Portuguese Hospitality Atlas.
Overcome challenges
Jorge Sousa Marrão Real Estate Sector Leader
Contents
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National ranking
Breakdown by classification
Breakdownby type
Regionalanalysis
About
Contacts
Top 5 ranking evolution
Portuguese Hotel Investment
Survey
European benchmark
New hotel establishments
in 2019
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National ranking
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National rankingRanking of Hotel groups / Management entities in Portugal (number of accommodation units)1
1 Accommodation units represent the number of rooms and/or apartments. 2 Pousadas de Portugal only include the Monumental & Historical Hotels that are under management of Pestana Hotels & Resorts Group.3 This analysis was prepared based on public available information. 4 Data relating to the hotel establishments Sheraton Lisboa Hotel & Spa and The Fontecruz Lisboa (which are part of Marriott Hotels & Resorts) was based on public available information. 5 Data relating to the hotel establishments Crowne Plaza Vilamoura Algarve, Holiday Inn Express Lisboa Aeroporto, Holiday Inn Express Avenida da Liberdade, Hotel Holiday Inn Express Lisboa Alfragide, Crowne Plaza Porto, Holiday Inn Express Porto Exponor, Hotel Intercontinental Porto - Palácio das Cardosas and Holiday Inn Porto Gaia (which are part of InterContinental Hotels Group - IHG) was based on publicly available information.
Pestana Hotels & Resorts / Pousadas de Portugal
Vila Galé Hotéis
Accor Hotels
Minor Hotels
Hoti Hotéis/ Meliá Hotels & Resorts
SANA Hotels
VIP Hotels
InterContinental Hotels Group - IHG
DHM - Discovery Hotel Management
Dom Pedro Hotels
NAU Hotels & Resorts
HF Hotéis Fénix
Porto Bay Hotels & Resorts
Hotusa Hotels
Hotéis Real
Turim Hotéis
MGM Muthu Hotels
Luna Hotels and Resorts
Continental Hotels
73
23
32
16
19
12
13
12
10
16
7
10
9
9
14
9
14
6
13
8
3.6%
1.1%
1.6%
0.8%
0.9%
0.6%
0.6%
0.6%
0.5%
0.8%
0.3%
0.5%
0.4%
0.4%
0.7%
0.4%
0.7%
0.3%
0.6%
0.4%
325
513
1,196
16.0%
25.2%
58.8%
8,137
4,463
3,339
2,933
2,767
2,521
2,120
2,066
1,736
1,577
1,399
1,387
1,363
1,348
1,324
1,304
1,238
1,220
1,169
1,081
5.6%
3.1%
2.3%
2.0%
1.9%
1.7%
1.5%
1.4%
1.2%
1.1%
1.0%
1.0%
0.9%
0.9%
0.9%
0.9%
0.9%
0.8%
0.8%
0.7%
44,492
49,199
51,202
30.7%
34.0%
35.3%
16,596
9,237
6,598
6,241
5,501
5,822
4,177
4,252
3,596
3,618
2,915
3,778
2,728
2,674
2,628
2,806
3,142
2,596
2,614
2,273
5.4%
3.0%
2.1%
2.0%
1.8%
1.9%
1.3%
1.4%
1.2%
1.2%
0.9%
1.2%
0.9%
0.9%
0.8%
0.9%
1.0%
0.8%
0.8%
0.7%
93,792
106,095
110,033
30.3%
34.2%
35.5%
2,034 100% 144,893 100% 309,920 100%
2
5
3
Hotel group /Management entity
Hotelestablishments
Lodging capacityaccomodation units Beds International
presenceRanking
2018Current
Sub-total
No. % of total No. % of total No. % of total Yes / No
Other Hotel groups / Management entities
Independent
Total
1
3
6
2
4
5
4
2
6
7
8
9
14
11
10
12
15
-
17
16
18
19
13
1
3
5
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Ranking of Hotel groups / Management entities in Portugal (number of accommodation units)1
1
1
2
3
3
Marriott Hotels & Resorts 4
3
3
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Breakdown by type
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Breakdown by type
2%(34)
1%(1,256)
3%(60)
4%(6,057)
5%(107)
8%(156)
10%(213)
73%(106,286)
72%(1,464)
2,034 Hotel establishments
Accommodation units represent the number of rooms and/or apartments.
National total:
144,893 Accommodation units
9%(12,587)
12%(16,556)
1%(2,151)
Hotel
Rural Hotel Tourist Village Lodging Houses
Tourist Apartment Hotel-apartment 2%(34)
1%(1,256)
3%(60)
4%(6,057)
5%(107)
8%(156)
10%(213)
73%(106,286)
72%(1,464)
2,034 Hotel establishments
Accommodation units represent the number of rooms and/or apartments.
National total:
144,893 Accommodation units
9%(12,587)
12%(16,556)
1%(2,151)
Hotel
Rural Hotel Tourist Village Lodging Houses
Tourist Apartment Hotel-apartment
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Breakdown by classification
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Breakdown by classification
1
2,034 Hotel establishments
Accommodation units represent the number of rooms and/or apartments.
National total:
Hotel establishments
Accommodation units 1
5 Stars
8%(172)
16%(23,381)
4 Stars
38%(771)
49%(71,427)
3 Stars
33%(677)
26%(37,154)
2 Stars
16%(329)
7%(10,557)
1 Star
3%(51)
1%(1,118)
Lodging house
2%(34)
1%(1,256)
144,893 Accommodation units
2,034 Hotel establishments
Accommodation units represent the number of rooms and/or apartments.
National total:
Hotel establishments
Accommodation units 1
5 Stars
8%(172)
16%(23,381)
4 Stars
38%(771)
49%(71,427)
3 Stars
33%(677)
26%(37,154)
2 Stars
16%(329)
7%(10,557)
1 Star
3%(51)
1%(1,118)
Lodging house
2%(34)
1%(1,256)
144,893 Accommodation units
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Regional analysis
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5%
11%
North
Lisbon
R. A. Açores
R. A. Madeira
Center
Alentejo
Algarve
2,034 Hotel establishments
Accommodation units represent the number of rooms and/or apartments.
National total:
144,893 Accommodation units
22%15%
20% 14%
8%
22%31%
16% 21%
5% 3%
7%
Regional analysisBreakdown by NUTS II
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Center Total(20,247)
4%(769)
3%(623)
3%(511)
2%(476)
2%(442)
86%(17,426)
Grupo de Desenvolvimento
das Termas de Portugal
Hoti Hotéis/ Meliá Hotels &
Resorts
Montebelo Hotels & Resorts
Fátima Hotels
Natura IMB Hotéis
Others
2
Porto Bay Hotels
& Resorts
R. A. Madeira Total(15,037)
24%(3,604)
5%(791)
5%(788)
5%(747)
5%(658)
56%(8,449)
Pestana Hotels & Resorts / Pousadas
de Portugal
Savoy Hotels & Resorts
Four Views Hotels
HotéisDorisol
Others2
R. A. Açores Total(4,848)
19%(935)
9%(446)
6%(274)
5%(229)
5%(229)
56%(2,735)
Bensaude Turismo
Azoris Hotels & Leisure
Grupo Ciprotur
Açorsonho Hotéis
VIP Hotels
Others2
A análise efetuada foi baseada em informação pública disponível.
North Total(21,969)
AccorHotels
5%(1,183)
HF HotéisFénix
4%(819)
Axis Hotéise Golfe
4%(816)
InterContinental Hotels
Group - IHG
3%(655)
Hoti Hotéis/ Meliá Hotels
& Resorts
3%(650)
Others
81%(17,846)
Alentejo Total(6,497)
10%(638)
7%(454)
4%(266)
3%(205)
2%(155)
74%(4,779)
Sonae Capital
Pestana Hotels & Resorts / Pousadas
de Portugal
Vila Galé Hotéis
Blue & Green M'ar de Ar Hotels
Others
Lisbon Total(30,955)
6%(1,837)
6%(1,804)
5%(1,673)
4%(1,404)
4%(1,097)
75%(23,140)
VIP Hotels
SANA Hotels
Accor Hotels
Marriott Hotels& Resorts
Hoti Hotéis/ Meliá Hotels &
Resorts
Others
Algarve Total(45,340)
5%(2,139)
5%(2,121)
4%(1,688)
2%(1,211)
2%(1,050)
82%(37,131)
Vila Galé Hotéis
Pestana Hotels & Resorts / Pousadas
de Portugal
Minor Hotels
NAU Hotels & Resorts
MGM MuthuHotels
Others2
3
2
2
2
2 2
2
2
Regional analysisTOP 5 Hotel groups / Management entities by NUTS II
1 Accommodation units represent the number of rooms and/or apartments.2 This analysis was prepared based on public available information.3 Data relating to the hotel establishments Crowne Plaza Vilamoura Algarve, Holiday Inn Express Lisboa Aeroporto, Holiday Inn Express Avenida da Liberdade, Hotel Holiday Inn Express Lisboa Alfragide, Crowne Plaza Porto, Holiday Inn Express Porto Exponor, Hotel Intercontinental Porto - Palácio das Cardosas and Holiday Inn Porto Gaia (which are part of InterContinental Hotels Group - IHG) was based on publicly available information.
Center Total(20,247)
4%(769)
3%(623)
3%(511)
2%(476)
2%(442)
86%(17,426)
Grupo de Desenvolvimento
das Termas de Portugal
Hoti Hotéis/ Meliá Hotels &
Resorts
Montebelo Hotels & Resorts
Fátima Hotels
Natura IMB Hotéis
Others
2
Porto Bay Hotels
& Resorts
R. A. Madeira Total(15,037)
24%(3,604)
5%(791)
5%(788)
5%(747)
5%(658)
56%(8,449)
Pestana Hotels & Resorts / Pousadas
de Portugal
Savoy Hotels & Resorts
Four Views Hotels
HotéisDorisol
Others2
R. A. Açores Total(4,848)
19%(935)
9%(446)
6%(274)
5%(229)
5%(229)
56%(2,735)
Bensaude Turismo
Azoris Hotels & Leisure
Grupo Ciprotur
Açorsonho Hotéis
VIP Hotels
Others2
A análise efetuada foi baseada em informação pública disponível.
North Total(21,969)
AccorHotels
5%(1,183)
HF HotéisFénix
4%(819)
Axis Hotéise Golfe
4%(816)
InterContinental Hotels
Group - IHG
3%(655)
Hoti Hotéis/ Meliá Hotels
& Resorts
3%(650)
Others
81%(17,846)
Alentejo Total(6,497)
10%(638)
7%(454)
4%(266)
3%(205)
2%(155)
74%(4,779)
Sonae Capital
Pestana Hotels & Resorts / Pousadas
de Portugal
Vila Galé Hotéis
Blue & Green M'ar de Ar Hotels
Others
Lisbon Total(30,955)
6%(1,837)
6%(1,804)
5%(1,673)
4%(1,404)
4%(1,097)
75%(23,140)
VIP Hotels
SANA Hotels
Accor Hotels
Marriott Hotels& Resorts
Hoti Hotéis/ Meliá Hotels &
Resorts
Others
Algarve Total(45,340)
5%(2,139)
5%(2,121)
4%(1,688)
2%(1,211)
2%(1,050)
82%(37,131)
Vila Galé Hotéis
Pestana Hotels & Resorts / Pousadas
de Portugal
Minor Hotels
NAU Hotels & Resorts
MGM MuthuHotels
Others2
3
2
2
2
2 2
2
2
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4949
41
102
9471
102
53
NorthCenter
Alentejo
R. A. Madeira
LisbonNational average
Algarve
R. A. Açores
Regional analysisAverage size of the hotel establishments (no. of accommodation units)1
Accommodation units represent the number of rooms and/or apartments.1
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Regional analysisComparative analysis by NUTS II
1 2018 Forecast data.
Source: TP (Turismo de Portugal) - Travel BI e RNT, INE (December 2018 data - Information extracted on 02.04.2019 and on 11.04.2019); Analysis: Deloitte.
RevPAR
North
40.53€
Center
24.47€
Alentejo
29.60€
Algarve
52.62€
Lisbon
73.96€
R. A. Madeira
47.43€
R. A. Açores
38.81€
Occupancy rate
Lodging capacity (no. of rooms)
Lodging revenues (000€)
Overnight stays (000#)
Guests (000#)
Average stay
64.1%
22,138
425,879
9,654
5,226
1.8
45.0%
21,161
232,829
6,711
3,866
1.7
53.6%
6,404
105,099
2,604
1,443
1.8
64.0%
45,116
840,837
20,201
4,643
4.4
75.7%
31,108
995,756
17,296
7,469
2.3
74.0%
14,831
279,012
7,751
1,508
5.1
60.0%
5,016
73,886
1,876
634
3.0
1
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Lisbon(NUTS II)
Lisbon(City)
21
RevPAR
Lisboncity
Occupancy rate
Lodging capacity(no. of rooms)
Overnight stays(000#)
Guests (000#)
89.22€ 73.96€
31,108 21,936
17,296 12,9957,469 5,435
79.8%75.7%
Regional analysis
1 Lodging capacity for Lisbon Municipality.2 Forecast data (information extracted on 05.04.2019). Source: Associação de Turismo de Lisboa, Registo Nacional de Turismo and Portuguese Hospitality Atlas 2019; Analysis: Deloitte.
Comparative analysis Lisbon region vs Lisbon city
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RevPAR
North(NUTS II)
Porto(city)
Occupancy rate
Lodging capacity(no. of rooms)
Guests (000#)
Overnight stays(000#)
Portocity
1
2
65.00€40.53€
56.6%64.1%
22,138 6,990
9,654 4,001
5,226 1,959
Regional analysis
1 Lodging capacity for Porto Municipality.2 Occupancy rate - Bed.Source: Associação de Turismo de Lisboa, Registo Nacional de Turismo and Portuguese Hospitality Atlas 2019; Analysis: Deloitte.
Comparative analysis North region vs Porto city
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Seasonality index by NUTS II 1
Regional analysis
1 Seasonality index= # overnight stay by month by NUTS II / Average annual overnight stay by NUTS II.Source: INE; Analysis: Deloitte.
North Center Lisbon Alentejo
Algarve R.A. Açores R.A. Madeira
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
January February
March
April
May
June
JulyAugust
September
October
November
December
Winter
SpringAut
umn-
Fall
Summer
Base 1 index
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30% 30%
15% 15%
13% 13%
4% 4%
34% 35%
0% 0%
Lisbon
4% 4%
R. A. Madeira
R. A. Açores
178,677 Total rooms accommodation units
National total:
306,307 Total beds accommodation units
North
Center
Alentejo
Algarve
Regional analysisLocal accommodation
Source: Registo Nacional de Estabelecimentos de Alojamento Local; Analysis: Deloitte.
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New hotel establishments in 2019
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New hotel establishments in 2019
# Hotel establishments
Label:
Lodging House To be defined
1st Quarter
Subsequent quarters
Total
5
--
--
22--
1
-
R. A. Madeira
-
-
3
----
-3--
-
-
Alentejo
-
-
2
----
11--
-
-
R. A. Açores
-
-
4
--
11
-
1---
-
1
Algarve
-
-
16
13
--
1-
46
1
-
North
-
--
22
12--
--
563-
-
5
Lisbon
5
-
1-
-
-22-
-
-
-
-
-
-
-
--
-
-
-
--
--
-
Center
-
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European benchmark
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Amesterdam
London
PortoLisbon
ParisBrussels
Barcelona
Berlin
Frankfurt
RomeMadrid
Milan
Vienna
69.2%
71.8€
79.0%
81.9€
84.1%
122.6€
83.0%
138.5€
81.0%
149.0€
74.7%
87.5€
56.6%
65.0€ 79.8%
89.2€
76.5%
73.4€
77.3%
100.9€
74.8%
95.8€
73.5%
98.1€
78.8%
83.0€
1
2
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European benchmark
Label:
Occupancy rate
RevPAR
Source: Observatório do Turismo de Lisboa, Associação de Turismo do Porto, Observatoire du Tourism à Bruxelles, Madrid Destino, Visit Britain, Paris Office du Tourisme et des Congrès; Analysis: Deloitte.
1
1 An exchange rate from pound sterling to euro was applied (0,90155 - December 2018).2 Occupancy rate - Bed.
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National Top 5 Historical Evolution
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National Top 5 Historical Evolution1
1 Ranking based on the number of accommodation units.2 Pestana Hotel & Resorts / Pestana Pousadas and Pestana Hotel & Resorts / Pousadas de Portugal are the same Hotel group / Management entity. The entity’s designation was changed.3 Groups Espírito Santo Hotéis and Tivoli Hotels & Resorts are the same Hotel group / Management entity. The entity’s designation was changed.
2019
1
2
3
4
5
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
Starwood Hotels & Resorts
Vila Galé Hotéis
Espírito Santo Hotéis 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
VIP Hotels
Vila Galé Hotéis
Espírito Santo Hotéis 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
VIP Hotels
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
VIP Hotels
Vila Galé Hotéis
Espírito Santo Hotéis 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
VIP Hotels
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
VIP Hotels
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
ECS Capital
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
SANA Hotels
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
SANA Hotels
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
Marriott Hotels & Resorts
Vila Galé Hotéis
Tivoli Hotels & Resorts 3
Pestana Hotels & Resorts / Pestana
Pousadas 2
Accor Hotels
Marriott Hotels & Resorts
Vila Galé Hotéis
Hoti Hotéis/ Meliá Hotels
& Resorts
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Pestana Hotels & Resorts/
Pestana Pousadas
Vila Galé Hotéis
AccorHotels
Minor Hotels
Hoti Hotéis/ Meliá Hotels
& Resorts
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Portuguese Hotel Investment Survey
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Key messages
Hotel industry at the “peak of investment” – Almost half of the respondents (48%) believe that the national hotel market is at its peak of investment phase. Porto (57%) and Lisbon (57%) were referred as the most attractive cities for hotel investment in 2020.
Who will invest? – 62% of the survey participants believe that international hotel chains will be the main capital source of Portugal’s hotel industry. 57% and 29% have also pointed out asset management funds and Private Equities, respectively, as relevant funding sources for the hotel sector. It is expected that capital will come mostly from Europe (62%), in particular from Portugal (48%).
The attractiveness of the European market – 43% of the respondents selected Lisbon as the most attractive European city to hotel investment in 2020. Other European cities like Amsterdam, Dublin, London and Barcelona are also among the most attractive cities to investors in this sector.
Risks in the next 5 years – Competitive markets growth (81%) and the shortage of qualified labour force (62%) were considered as the main risks to the Portuguese hotel sector in the next 5 years. In Europe, possible terrorist attacks (67%), the economy growth (63%) and potential political tensions (58%) are the risks that worry investors the most.
Challenges for the next 5 years – Retaining highly qualified human resources is, for most investors (79%), the major challenge within the hotel industry in Europe. Attracting and retaining new customers arises also as a very relevant challenge for many respondents (59%), mainly due to the preferences of the young Millennials.
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57%Porto
57%Lisbon
5%Algarve
19%Others
Recession
5%
Recovery
19%
Investment
28%
Investment peak
48%
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Portuguese Hotel Investment Survey
Investments stage for the portuguese hotel industry
Most attractive portuguese regions for hotel investment in 20201
1 Question with possibility of multiple answer.
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Institutional investors
International hotel chains
Asset management funds
Sovereign wealth funds
Pension funds
Insurance companies
19% 62% 57%
5% 0%5%
Private equity/ venture capital
29%
Skilled labour force
Labour legislation
Interest rates
62%
14% 5%
81%
Competitive markets growth
Other
24%
Economy growth
19%
Portuguese Hotel Investment Survey
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Main capital sources for Portugal’s hotel industry1
1 Question with possibility of multiple answer.
Portugal hotel industry main risks (5 year horizon)1
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North America and South America
24%
Portugal
48%
Europe
62%
Others
14%
Portuguese Hotel Investment Survey
Most attractive european cities for hotel investment in 20201
1 Question with possibility of multiple answer.
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Amsterdam
London
Lisbon
Paris
Dublin
BarcelonaMadrid
14%
14%
0%
43%
0%14%
14%
Portuguese Hotel Investment Survey
Most attractive european cities for hotel investment in 20201
Label:
Hotel investment
1 Question with possibility of multiple answer. 19% of the participants also identified as more attractive other cities than those above mentioned.
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Very important Important Less important
Very important Important Less important
63%
11% 11%
26%
Economy growth Politic tensions
Investment opportunities in Europe
Growth opportunities(augmented operational margins)
New technologies adoption Attract and create loyalty among new customers
(millennials)
58% 67%
42%
Terrorist attacks
22%
Overtourism phenomenon Black and grey swans
Ability to retain highly qualified human resources
11%
47%
42%
25%
50%25%
41%18%
12%
41% 35%
40% 44%25%
44%
5%
57%
38%
21%
79%
Portuguese Hotel Investment SurveyRisks associated with the hotel industry in the european context, over the next 5 years
Challenges for the hotel industry in the european context, over the next 5 years
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Notes
Notes | Local AccommodationWere considered the following types of establishments:
• Apartments; • Lodging Establishments; • Lodging Establishments – Hostels; and • Dwellings.
The information was collected from the Registo Nacional do Alojamento Local (RNAL), available through the website of Turismo de Portugal, on first week of April 2019. The original information had a total of 82,205 establishments, but for the purpose of Atlas da Hotelaria 2019 we have considered a total of 78,010 establishments.The selection of establishments was based on the year of registration in the RNAL, therefore all establishments registered before 2000 and after 31st december 2018 were disregarded.According to information provided informally by Turismo de Portugal the registration of each establishment in the RNAL is performed autonomously and independently by the respective owners, so the accuracy of the information available is not the responsibility of the Turismo de Portugal.
Were considered the following types of hotel establishments:
• Hotels; • Tourist apartments; • Apartment hotels; • Tourist village; • Lodging houses; and • Rural hotels.
For ranking purposes it was considered the total number of accommodation units in hotel establishments at 31st December 2018, including those which were temporarily not operating at that date. It should be noted that the units that compose the hotel complexes were considered disaggregated, i.e., they are recorded individually as hotel establishments.Accommodation units refer to the number of rooms and/or apartments.A double bed represents 2 beds, a T0 has 1 bedroom (2 beds), a T1 has 1 bedroom (2 beds), a T2 has 2 bedrooms (4 beds) and a T3 has 3 bedrooms (6 beds).The aggregation of hotel establishments in hotel groups / entities management complies its integration in a Group (entities that owns more than a hotel establishment) and / or the existence of a common denominator in their operation. Accor Hotels, Hoti Hotéis and Pestana Hotels & Resorts Group include tourism developments that are in a franchise system.The geographical division of Portugal complied with the NUTS II defined by National Institute of Statistics.The data collection from the 20 largest groups was completed in the second week of April 2019.The remaining information was collected through the websites of the Groups and independent hotel establishments, the databases of Turismo de Portugal and Regional Tourism Entities, as well as other public information.Tourist apartments with less than 10 apartments have not been considered.The information regarding the new hotel establishments expected for 2020 was collected until the last week of March 2019 and was based on Regional Tourism Entities information and public information.
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Rui GidroConsulting PartnerTel: +351 933259269 [email protected]
Miguel Eiras AntunesConsultingPartnerTel: +351 969658255 [email protected]
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Jorge Sousa MarrãoFinancial Advisory PartnerTel: +351 963902674 [email protected]
Inês Cintra CostaFinancial AdvisorySenior ManagerTel: +351 962103923 [email protected]
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Duarte Galhardas ConsultingPartnerTel: +351 965065615 [email protected]
Pedro Santos RosaFinancial AdvisorySenior ManagerTel: +351 962103497 [email protected]
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