The performance of Brønsted-and Lewis-acidic La, Nb, and Zr phosphates (LaPO, NbPO, and ZrPO) during the aqueous phase conversion of dihydroxyacetone (DHA) to lactic acid (LA) is investigated using a fixed-bed reactor. Mass-transfer phenomena are thoroughly investigated, and the masstransfer coefficient is deconvoluted from the intrinsic kinetic constant for each catalyst to enable the quantitative assessment of both. NbPO is found to be masstransfer-limited. Despite this limitation, NbPO shows the highest yield of LA at 36%. The reaction over ZrPO is not transport-limited, allowing for a rigorous analysis of intrinsic kinetics. This analysis shows that the conversion of DHA into pyruvaldehyde (PVA) follows a second-order reaction mechanism via a dimeric intermediate, which consolidates previous reports in the literature. Additionally, a correlation between LA production and the carbon missing from the carbon balance (carbon loss) is observed. Finally, NbPO and ZrPO show stable performance up to 10 h on stream at 150 °C. After 15 h of reaction, the PVA yield increases at the expense of LA with NbPO. This is ascribed to the deactivation of the active sites necessary to produce LA, which are different from the sites that produce PVA. This hypothesis is supported by the characterization of the spent catalyst with 13 C magic-angle spinning nuclear magnetic resonance and attenuated total reflectance infrared spectroscopy.