Horwath HTL Market Report: Portugal Future Outlook & Pipeline
Portugal's hotel, tourism and leisure sectors have been evolving favourably in the recent years with travel & tourism accounting for 16.5% of Portuguese GDP in 2019. The strength of the market, fostered by government policy, boosted investments in the country's tourism and hospitality assets, as evidenced by an increased number of transactions and new hotel developments.
Everything suggested that Portugal would continue benefiting from this positive trend. However, the coronavirus pandemic has caused serious, but hopefully temporary damage to tourism and the hotel industry.
With more than 120 hotel projects and more than 14,000 rooms in the pipeline, and with Lisbon considered the 4th most attractive European city in which to invest, we have carried out an analysis of projects under development and the results indicate that many still consider Portugal to be an attractive and strategic hub for hospitality investment. Feedback from experienced professionals in the Portuguese tourism and hospitality sectors has contributed to our analysis and a long-term positive outlook for Portugal.
About Horwath HTL
Horwath HTL is focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.
For more information, please visit www.horwathhtl.com.
