This document summarizes a content analysis of conference proceedings from the Portuguese Hotels Association between 1993-1999 to identify key trends in the Portuguese tourism and hospitality sectors. The analysis uses a SWOT framework to categorize strengths, weaknesses, and environmental issues identified. It finds that tourism in Portugal faced recession in the early 1990s due to various factors. There was an absence of clear long-term strategy around differentiation, marketing research, and product management. Strengths like natural and cultural resources were not effectively leveraged against threats due to issues like over-dependence on government and EU funding and difficulties expanding into new markets.