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Lisbon`s hotel industry booms for 2001 and beyond

Friday, November 30, 2001

Lisbon<.>`s hotel industry is soaring to new heights as 2001 sees a total of six new properties open across the city with a further ten to be unveiled in 2002. Focusing on the three, four and five star brackets speciafically, the expansion in the industry marks a total investment of 196 million Euros and is a direct result of increasing demand from visitors to the capital of Portugal.

This year has already seen big name hotel group Marriott<.> International, Inc enter Lisbon - and Portugal<.> - for the first time ever, by re-branding the former Lisboa Penta Hotel to the Lisbon Marriott Hotel. The four-star 588room property opened its doors in October. Just ten minutes from the airport, this property offers one of the best Congress Centers across the city. In addition, the five star Carlton Palace Hotel - a Pestana Hotels & Resorts property - opened in March in a stylish 19th century building. Both target the discerning business and leisure traveler alike.

As a result, the end of 2001 will see another 624 rooms available to visitors to Lisbon - bringing the total up to 9,110. Consequently, hotel occupancy rates are forecast to increase 3.8% on the 2000 figure when it reached its best year ever for the city. Hotel occupancy rates in 2000 reached 74,8% with revenue breaking the 160 million Pounds.

On a worldwide scale, visitors to the city between January - June 2000 increased by 2.4% on the first half of 2000, reaching the 925.807 mark. For 2002, a total of ten four and five star properties are scheduled to open across the city. By the end of 2002, a further 2,014 rooms will become available in the city compared with the 2002 figure. This brings the total number of rooms across the capital up to a grand total of 10.510.

Based on room numbers, Turismo de Lisboa forecasts an average yearly growth of 5.5% on accommodation until the end of 2004. To maintain this level, 283 rooms are planned for 2005.

Vicky Karantzavelou - Friday, November 30, 2001

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