Construction of New Hotels Slows Down in 2021

9 December 2020A recently published study by Deloitte, which was included in the latest Atlas of Hospitality, noted that 89 hotels opened in Portugal in 2020, a significant increase over the year before when only 57 hotels opened their doors.

Starting in 2021, the trend will be reversed due to the pandemic crisis, leading to further delays in the construction of new units. At the same time, the owners of existing hotels will have to rethink their business models.

Portugal is still one of the most attractive European destinations for investment in hotels. However, the sector is only forecast to begin a recovery in the first semester of 2021.

Original Story: Jornal de Negócios – Rafaela Burd Relvas

Translation/Summary: Richard Turner