2020 was the most challenging year ever for the lodging industry in Portugal. After enjoying positive results in January and February, lodging suffered significant decline in reservations and sales with the outbreak of COVID-19 in March.
The pandemic has intensified direct reservations, made through websites or through call centres. Travellers want to be assured about safety and hygiene conditions, privileging direct contact with lodging players.
Recovery in the Portuguese lodging industry will be slow and gradual as tourism flows progressively return to pre-COVID-19 values. Contrary to what could be expected, the lodging industry knew how to defend its prices in 2020 and 2021, and despite some projects being postponed, players continued to invest in new openings, a trend that will continue in the forecast period.
Short-term rentals witnessed a drop in the overall number of listings and sites/outlets in 2020, and the totals have dropped further in 2021. The significant downturn in touristic flows due to COVID-19 has led many homeowners offering short-term rentals to find other solutions to face this period of uncertainty and gain time, such as removing the housing from the market and making it available in the traditional rental market with a maximum of 12-month tenancies on offer.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Portugal with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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