Azores Short-Term Rentals Surpass Hotels in July Overnight Stays
The Alojamento Local (AL) sector in the Azores achieved a landmark in July, recording more overnight stays than the region's traditional hotels. According to the latest data from the Regional Statistics Service of the Azores (SREA), the short-term rental market is demonstrating significant growth and increasing its share of the archipelago's tourism economy. In total, the Azores registered 638,500 overnight stays across all tourist accommodation types in July, an increase of 2.5% compared to the same month in the previous year. The AL sector was responsible for 310,500 of these stays, accounting for 48.6% of the total market. This figure represents a 4.9% year-over-year growth for short-term rentals. In contrast, the hotel sector registered 293,100 overnight stays, or 45.9% of the total, marking a slight decrease of 0.5%. The remaining 5.5% of stays were in rural tourism establishments. João Pinheiro, the president of the Azores Local Lodging Association (ALA), highlighted the significance of these figures in a press release. He stated that the data confirms a growing preference among visitors for the type of accommodation offered by the AL sector. The association emphasized that this growth has occurred despite the recent opening of new hotel units in the region. However, the ALA also used the occasion to draw attention to ongoing administrative challenges. The association claims that the registration process for new AL properties is excessively slow and bureaucratic, with delays in municipal inspections sometimes reaching up to two months. These delays, according to the ALA, can prevent new properties from operating during the peak tourist season, causing financial losses for investors. The report from SREA also noted that foreign tourists accounted for 82.1% of all overnight stays in July, with this market segment growing by 4.5%. Conversely, the domestic Portuguese market saw a 6% decline in overnight stays for the fourth consecutive month. Discover rental property opportunities and regulations at realestate-lisbon.com.
