Algarve posts record hotel room rate

 In Associations, Hotel, News, Tourism

Hotels and guest accommodation in the Algarve have registered record room bookings not seen since the start of this century for the month of May.

May 2023 was a record for total average occupation rate with 72.7%, the best rate for that month in 22 years according to data from the Algarve Hotels and Tourist Developments Association Associação dos Hotéis e Empreendimentos Turísticos do Algarve (AHETA).
May outstripped the previous room rate take-up of 70.7% recorded in 2001. In May the rate was 2.8% higher than seen in 2019 and 5.1% higher than in 2022.
The markets that most contributed towards this growth was Ireland (+2.6 pp), and the US (+0.7%). However, the German market contracted -1.3 pp and the national market fell back -1.0 pp on May 2019.
In terms of locations in the Algarve Tavira saw the greatest increase in hotel bookings (+8.7%) and Lagos/Sagres (+2.4%), but Albufeira saw a fall of -2.4% on May 2019.