Portuguese hotels predict tourist revenue losses between 500 and 800 million euros over next 4 months
The Association of Hospitality of Portugal (AHP) foresees tourist revenue losses between 500 and 800 million euros, between March 1st and June 30th, 2020, according to a survey of its associates, presented today.
The forecasts presented by AHP, in a press conference at a Lisbon hotel, are the result of a survey carried out with its associates between the 3rd and the 9th of March, with data that has been updated daily to find out what impact Covid-19 is having on the national hospitality sector.
The most positive outlook seems to be losses of 30% for hotel revenues, totalling 500 million euros over four months. In the more negative scenario of a 50% drop in international revenues, losses could be 800 million euros in the same period.
The AHP noted that the numbers could get worse, as the calculations were made based on responses obtained from members between March 3 and 9, before, for example, US President Donald Trump’s announcement suspending travel from Europe to the States for a period of 30 days.