Hotel industry estimates €3.2M to €3.6M of revenue lost in 2020

  • Lusa
  • 4 June 2020

By the end of the year, losses of up to 3.6 billion euros are expected in the Hotel industry.

The Hotel Association of Portugal (AHP) on Thursday said it estimated revenue losses of between 3.2 billion euros and 3.6 billion euros this year, as well as 24.8 billion to 46.4 fewer overnight stays.

The data was presented by the executive president of the AHP, Cristina Siza Vieira, during the presentation of the third phase of the survey “Impact of Covid-19 on Hotel Business”, held between May 15 and 29 with members.

“We have no doubt that it will be a lost year for the hotel industry,” she said.

“It does not mean, however, that there will be no bookings and no movement during this summer, but let us not deceive ourselves: we will not have anything this summer that makes us think of effective recovery,” she added.