In 2023, a record number of hotels will be inaugurated in Portugal, 75 in total, to be exact. This means a new hotel will technically be born every five days in Portugal, with almost 6,000 new rooms nationally.
In the last five years, almost 300 hotels opened around the country, according to Cushman & Wakefield’s data for CNN Portugal/TVI.
The 2023 predictions reflect a large growth in comparison to the pre-pandemic period.
Gonçalo Garcia, director of the hospitality sector of Cushman & Wakefield in Portugal told CNN, “Surely 2023 will be one of the years where we see the most hotels opening all over Portugal, from north to south. A growth of 75 new hotels a year is not normal. In fact, it is an extraordinary number.”
Cushman & Wakefield’s analysis also examined how this industry has grown in the last five years, despite the pandemic. From 2019 to 2023, 292 hotels have been inaugurated, adding up to almost 20,000 rooms.
In 2019, 63 hotels opened, while a year later in 2020, 40 hotels opened. In 2021, 70 hotels were integrated due to having been postponed the year before due to the pandemic.
In 2022, once again, only 40 hotels opened due to these effects. Therefore, the year 2023 is one of pandemic recovery that exceeds prior numbers.
In Portugal, there are around 1800 hotels. These figures include 1572 establishments of 1 to 5 stars, 43 lodges/inns, and around 153 apart-hotels.