Lisbon properties see record business

Lisbon properties see record business

LISBON’S hotel sector enjoyed its best ever year in 2000 with revenue and occupancy rates reaching record levels, a new survey shows.

The report released by city tourist office Tourismo deLisboa showed hotel occupancy rates rose to 74.8% last year from 69.9% in 1999. This has placed Lisbon alongside Madrid and Amsterdam for the top hotel occupancy rates in European capitals. The most impressive increase has been among five-star properties

The strong growth has encouraged investors who are ploughing money into new projects. A total of 20 new hotels are scheduled to open over the next four years. The development will increase the number of rooms in the city by 25%, or 2,500 bedrooms.

The city has also seen room rates rise from an average of £45 per night in 1999 to £48 last year. Revenue in the sector increased significantly, exceeding the £160 million mark.

However, Paul Stanley, commercial director of city-break specialist Travelscene, said Lisbon remains one of the best value cities in Europe.

Travelscene’s lead-in price for a two-night break in a three-star hotel, including flights, is £234.

“It is very competitive compared with cities such as Amsterdam and Barcelona,” he said.

Travelscene saw a 54% increase in bookings to Lisbon last year, making the city one of its best performers and prompting it to add two new hotels to its 2001 programme. Stanley added: “The ABTA Convention in October will help raise even more awareness of the city.”

Lisbon: the strong growth in sales has encouraged investors to plough money into new hotel projects