Portugal Hotel Revenue Drops 6.8% in April From Year Earlier
By Henrique Almeida -
2012-06-15T10:07:52Z
Portugal’s hotels recorded a 6.8 percent drop in revenue in April from the same month last year as overnight stays by Portuguese tourists declined.
Revenue fell to 143.3 million euros ($181 million) in April, the Lisbon-based National Statistics Institute said today in an e-mailed statement. In the first four months, revenue dropped 4.1 percent to 411.4 million euros.
Tourism represents about a tenth of Portugal’s gross domestic product, according to the Economy Ministry.
To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net
To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net
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