Key Market Indicators
Portugal's hotel industry is set for a modest expansion over the next five years, with the number of available hotel rooms projected to reach approximately 170,000 by 2028. This marks an increase from the 160,000 rooms available in 2023, reflecting an average annual growth rate of 1%. Since 1995, the country's hotel room supply has experienced a steady rise, averaging a 0.8% increase each year. As of 2023, Portugal ranked ninth globally in terms of hotel room availability, just behind the Czech Republic, which also boasted 160,000 rooms. The leading countries in this ranking are Germany, Spain, and France, occupying the second, third, and fourth positions, respectively. However, the Portuguese hotel occupancy level has shown some fluctuations. In November 2021, the occupancy rate stood at 43.1%, a significant drop from the 54.6% recorded in October 2021. This indicates a challenging period for the sector when compared to the previous year.
