May confirmed the paralysis of the Local Accommodation (AL) market, with average occupancy rates dropping to 5% in Lisbon and 3% in Porto. Despite the fact that in the last month there have been a few days of lack of clarity in the context of the pandemic outbreak of covid-19, the figures show an aggravation in view of the already low occupancy levels observed in April, when Lisbon registered an average occupancy rate of 10% and Porto 11%, data meanwhile revised downwards.
In March, the average occupancy of LA in the two cities was also revised downwards, to around 40%, also reflecting the dynamics of a month that combined pre and post-covid periods, according to the data, of SIR – Local Accommodation , from Confidencial Imobiliário (CI), a company specialized in the production and dissemination of analysis indicators for the real estate market.
The year-on-year comparison leaves no doubt about the strong reduction in occupation, a period in which the average occupation in Lisbon was 73% and in Porto 66%.
“Another indicator of the pandemic pressure in LA, strongly affected by the global suspension of tourist flows, is the 94% drop in Lisbon and 96% in Porto in the number of nights sold, aggravating the drops observed in April, which had been, respectively, 75% and 67% ”, reveals CI in a statement released this Monday market.
According to the same source, and as a result of the slowdown in occupancy, revenue per available room (RevPAR, in the acronym in English) decreased again in May, reaching 11 euros in Lisbon and seven euros in Porto. These figures compare, respectively, with the 15 euros and 14 euros registered in April. In the same period, RevPAR in Lisbon reached 58 euros and Porto in 44 euros.
