Hotel prices up 70%
Portugal is the country in Europe which has experienced the greatest increase in hotel room prices since 2021 according to the business daily Negócios.
The conclusion is taken from a study by the economist Eric Dor of the IÉSEG School of Management that reveals that in the space of two years hotel prices in Portugal have risen by 70%, putting Portugal at the top of the list of euro zone countries that have most suffered from higher hotel prices.
The IÉSEG calculations indicate that between June 2021 (the peak of the inflationary period) and June this year, hotel prices were 70% higher.
In other words a night in a hotel that on average cost €100 in June 2021 cost €170 this summer. Other European countries which saw the price of hotel rooms soar were Croatia (63%), Spain 57%), and the Baltic countries Lithuania and Latvia (both 52%) and Estonia (48%).
Increases in hotel room nights rose across the board in 20 euro zone countries, and only Malta saw prices that did not increase by two digits, having only gone up by 3.9%.
In Portugal the EU price index for accommodation and eateries did fall in like-for-like terms to 12.6% while in MoM terms there was a slight fall of 0.4%, it being the first time since the beginning of the year that the prices of accommodation and restaurants fell and broke the general increase in the price of services.