Hotel prices continue to rise

 In News, Tourism

Hotels in Lisbon saw a slight decrease of 2% in room take-up rate in February compared with the same period in 2018, set at 65.33%.

However, the average price per room sold stood at €86.39, the equivalent of an increase of 2.9% like-for-like.
According to data from the Lisbon Tourism Observatory published on Wednesday, only 5-star hotels in Lisbon registered increases across the board. Three-star hotels saw slight decreases in occupation rates (-2%) and in room prices (-1.9%) and in terms of available rooms (-3.9%); while 4-star hotels saw growth in the Average category.
In terms of occupation, three-star hotels saw a take-up rate of 75.18%, 4-star hotels fell 3.5% in occupation like-for-like with a take-up rate now set at 67.49% while 5-star hotels stood at 54.41%.
As to the Average, this stood at €148.78 per room (+3.8%) for 5-star hotels, €72.75 for 4-star hotels (+2.1%) and €56.10 for 3-star hotels (-1.9%).
In terms of RevPar (Revenue per Available Room), 5-star hotels stood at just over €80 due to a growth of 6.1%, 4-star hotels stood at €49 while 3-star hotels fell slightly to €42.17.
Performance in the Lisbon region was driven overall by the positive demand for 5-star hotels while overall the average price per room sold for all hotels in the region stood at €83.63.