Wyndham Grand Algarve Sets Ambitious 25% Growth Target for 2023

Wyndham Grand Algarve's Growth Ambitions

The Wyndham Grand Algarve is confidently aiming for a 25% growth compared to 2023, as revealed by Paulo Vicente, the hotel's commercial director, in an interview with TNews.

“This year, we had a very ambitious goal that we are managing to fulfill. The target was to grow by 25% compared to 2023, and so far, we are on track to achieve these results. Therefore, the year is proving to be quite positive and interesting,” said Vicente.

Occupancy Rates

When asked about the best month in terms of occupancy, Vicente mentioned August, which reached an impressive 93% occupancy rate. For November, he anticipates finishing the month with a 68% occupancy.

Market Insights

The English market continues to lead in guest numbers, followed by the Irish and German markets, which are increasingly present in Quinta do Lago, the tourist development where Wyndham Grand Algarve is located. In recent years, the Portuguese market has ranked between fourth and fifth place.

Pricing Challenges

However, Vicente noted some challenges regarding average pricing and seasonality, which have been meticulously addressed. “For August, we had a very ambitious target, which we achieved. I believe that the destination is increasingly being worked on in terms of average pricing, and currently, the Algarve is at a very interesting average price, almost reaching our desired level.”

Seasonal Strategies

Vicente emphasized that the hotel is less affected by seasonality due to its location and strong focus on golf tourism. “Quinta do Lago, given its offerings, helps us create a differentiated proposal, especially in winter with golf, which significantly complements the low season. Additionally, the beaches and pools support us during the peak season.”

Tourist Tax Impact

Regarding the recent introduction of a tourist tax in Loulé, Vicente believes it will not impact the hotel's profitability, viewing the new tax as “not a major issue.”