Despite economic challenges such as high inflation and rising interest rates, Portugal’s tourism sector remains a magnet for investment. The country ranks fourth in Europe for the number of hotel projects currently under construction or in the pipeline, with a total of 130 units set to open in the next 12 months. These developments will add an impressive 15,149 new hotel rooms to Portugal’s accommodation offerings, according to a report by Lodging Econometrics (LE), a consulting company.
LE’s report further reveals that across Europe, a total of 1,776 hotel projects (equivalent to 266,901 rooms) are nearing completion or in various stages of development:
- 814 hotels (125,657 rooms) are already under construction.
- 419 hotels (65,625 rooms) are slated to begin construction within the next year.
- 543 hotels (78,619 rooms) are in the early project phase.
Notably, Portugal follows only the United Kingdom, Germany, and France in terms of hotel project volume, with the United Kingdom leading the pack with 340 hotels (47,551 rooms).
Analyzing the data by city, the LE study highlights the following destinations for hotel openings in Europe over the next 12 months:
- London takes the lead with 90 units (15,393 rooms).
- Istanbul, Turkey, ranks second with 42 hotels (7,360 rooms).
- Dusseldorf, Germany, follows closely with 38 units (7,080 rooms).
- Lisbon claims a solid fourth position with 35 hotels (4,073 rooms).
- Dublin, Ireland, secures the fifth spot with 31 projects (5,873 rooms).
As Portugal’s tourism industry continues to thrive, these new hotel openings promise to meet the increasing demand and provide visitors with a wide range of accommodation options in captivating destinations throughout the country.
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