Portugal Hotel Revenue Rose 1.5% in July on Foreign Tourists

Portugal’s hotels recorded a 1.5 percent increase in revenue in July from the same month last year as overnight stays by foreign tourists rose.

Revenue rose to 240 million euros ($310 million) in July, the Lisbon-based National Statistics Institute said today in an e-mailed statement. In the first seven months of the year, revenue fell 2.5 percent to 1 billion 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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