Portugal's hotels project up to 800 mln euros in lost revenue due to coronavirus

The hotel sector in tourism-dependent Portugal could lose 30%- 50% of its revenues, or up to 800 million euros ($898 million) between March and June, if the coronavirus continues to spread at its current pace, the AHP hotels association said on Thursday.

In a report, it said 27% of Portugal's hotels expected their 2020 results to be much worse than in 2019 due to the coronavirus epidemic, with over 41% of hotels across Portugal having reported cancellations in early March.

($1 = 0.8912 euros)