Portugal May Overnight Stays in Hotels: Summary

Following is a summary of Portugal’s tourist activity report from the Instituto Nacional de Estatistica in Lisbon:

================================================================================
                               May    April    March     Feb.     Jan.      YTD
                              2014     2014     2014     2014     2014
================================================================================
                             --------------Year-on-year % change---------------
Overnight stays              12.3%    25.4%    -0.8%     6.5%    10.1%    11.4%
 Residents                   16.1%    36.9%    -3.1%     1.9%     9.6%    12.4%
 Non-residents               11.1%    21.3%     0.2%     8.6%    10.3%    11.1%
-------------------------------------------------------------------------------
Guests                       14.5%    21.5%     2.7%     7.2%    10.9%    12.3%
-------------------------------------------------------------------------------
Total revenue                18.9%    20.2%     2.9%     7.3%     6.4%    12.9%
 Hotel revenue               19.7%    20.4%     3.1%     7.6%     7.6%    13.6%
Avg revenue/room             14.9%    16.1%     0.8%     3.9%     5.8%     9.2%

================================================================================
                               May    April    March     Feb.     Jan.      YTD
                              2014     2014     2014     2014     2014
================================================================================
                           ------------------Number in thousands---------------
Overnight stays            4,425.5  3,851.1  2,739.6  2,011.0  1,724.1 14,744.4
 Residents                 1,055.7  1,090.9    800.9    601.4    567.9  4,092.7
 Non-residents             3,369.8  2,760.2  1,938.7  1,409.7  1,156.3 10,651.7
-------------------------------------------------------------------------------
Guests                     1,607.1  1,381.2  1,039.1    775.9    702.5  5,512.6
-------------------------------------------------------------------------------
Average nights stayed         2.75     2.79     2.64     2.59     2.45     2.67
Bed occupancy rate (%)        47.7     43.7     32.6     27.1     22.0     35.1
                         ----------------------Million euros-------------------
Total revenues               215.7    168.7    121.7     88.3     77.0    671.1
 Hotel revenues              150.3    115.2     82.1     58.2     51.7    457.8
Avg revenue/room (euro)       36.0     29.2     21.4     17.3     14.4     24.0
================================================================================

NOTE: Figures are preliminary and subject to revisions.

SOURCE: National Statistical Institute INE

(Portugal’s National Institute of Statistics)

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