Tourism is coming back. Only in April, the company has generated 1,3 M € in gross income for their owners and the goal, until the end of the year, is to overcome 18 million euros.
We can say that the best Summer ever will be in 2022! The trends at LovelyStay, the first company in the Tourist Accommodation market in the country, shows that tourism is not only back, but the market is already generating impressive results. Only in June, July and August of this year, the company estimates a gross income in bookings of over 7 million euros – more than 250% than the same period of last year, when LovelyStay had already hit a historic milestone. See the progression for the Summer of this year:
“We have been investing a lot with the goal of improving even more. When we started, we entered a growing market and we decided to professionalise the offer of management services, so as to provide better experiences to guests and a greater profitability to our clients. Today we provide a premium service, which helps Tourist Accommodation owners from the start, from the process of decorating the house, price strategies and all the daily aspects relative to the complete management of their property”, says William Tonnard – CEO at LovelyStay.
Regarding competition, according to the data provided by the Tourism of Portugal office, LovelyStay’s strategy has managed to, in 2020 and 2021, to overcome the average profitability of the market by more than 67% – proving that the knowledge and use of specialised tools were able to differentiate the owners’ results, even during the pandemic.
For 2022, which has already been considered one of the best years for tourism in Portugal, the expectancy is that the company continues to earn at least 30% more than the competition – this data is public and may be studied from the information of Tourism of Portugal.
Only in April this year, LovelyStay has had a gross income of more than 1,3 million euros in bookings, an incredible result for a pre-high season period. This way, the company finishes the first 4 months of the year with a profitability to its owners of more than 3 million and 180 thousand euros, a significant growth when compared to the previous years: in 2021 we have earned more than 585 thousand euros and in 2020 more than 657 thousand euros.
Our expectation is to close the year with gross profitability in bookings for its owners of over 18 million euros! Nowadays, with a portfolio of properties from all over the country, LovelyStay has a unique technology, where you can study all of the tourist accommodation market in the country and create strategies which will meet the expectations of our clients. Combining state-of-the-art technology and a specialised team, we are confident that this year we will hit 18 million euros!”, reinforces Tonnard.
If we consider the evolution of invoicing compared to the last two years, LovelyStay is confident of the success of the results of 2022. Taking into account the average profitability of the houses in the sum of the first three months of the year – low season months for tourism – in 2020 the company’s properties have invoiced 2.950 euros, in 2021, 1.360 euros and, this year, an average of 3.840 euros was met.
After much instability, tourism is in fact returning to Portugal and the expectations are as good as they get. Right now, the main goal of our company is to continue investing in the management of the properties in urban centres and in the coast, but also to grow its portfolio of properties in Portuguese towns and villages, where tourism is growing and where there is still a need for specialised management.
LovelyStay has been in the Tourist Accommodation market for over 7 years. With a broad client portfolio, the company works with investors and owners of accommodations who want to make their properties profitable, be it in big centres or in the rural areas of the country. With offices in Lisbon, Porto and the Algarve, with a total of about 60 employees, the company has a professional and personalised service, offering remote and complete management services, even consulting for many themes, from construction to the management of the price dynamics, from interior design to hospitality.
Translated by Joana Teixeira