Quarterly market performance report - Q1 2021
- During the first three months of the year, hotel performance in Copenhagen has remained at a halt due to a continued lockdown in the area. Compared to last year, occupancy has declined by 75% to a quarterly average of 12%, meanwhile, ADR has decreased by 23% compared to first quarter last year, thus resulting in a significant RevPAR drop of approximately 81%, causing a Q1 average RevPAR of 73 DKK.
- In January, occupancy was at an average 10% with an ADR of 570 DKK, levels which are similar to spring last year. Consequently, RevPAR saw a significant decline to 60 DKK, a decrease of 87% compared to January last year.
- In February, RevPAR was down by 83% at 78 DKK, which was mainly driven by a low occupancy of 13%, but also due to a low ADR of 620 DKK, an 18% drop compared to last year.
- Lastly, in March, RevPAR was at 83 DKK, due to a 13% occupancy in combination with the low ADR of 622 DKK.
|ADR in DKK||570||620||622||606|
|RevPAR in DKK||60||78||83||73|
Helsinki Hotel Investment Guide 2020
We have together with Helsinki Business Hub prepared a thorough investment guide for the Helsinki hotel market.
"The Greater Helsinki region is among the top cities in Europe in terms of tourism growth, and the most popular conference city in the Nordics. If you are a hotelier looking to grow, look no further. We’ll help you connect to the local ecosystem and find the perfect property."
What used to be a hidden gem is now a bustling hub of international tourists and business visitors. The Greater Helsinki region is attracting visitors at a staggering rate: the number of overnight stays has grown 28% in the past 5 years. The occupancy rate of hotel rooms in Helsinki is also one of the highest among Europe’s capitals (73% in 2018). To cater all the visitors, there is an eminent need for new hotels, especially in the budget and luxury range.
Helsinki is committed to developing the travel industry, especially focusing on sustainability and digitalization. This has earned Helsinki the title of the Capital of Sustainable Tourism 2019.
Read the entire publication here: https://www.helsinkibusinesshub.fi/helsinki-hotel-investment-guide-2020/
Large-scale hotel expansion under Northern Lights
The global hotel industry continues to show interest and optimism toward growth and performance of hotels in the Nordic region.
COPENHAGEN, Denmark—There is continued optimism about the growth and performance potential of the Nordics, as demonstrated through a survey of the delegates who attended the 9th annual NHC-Conference held in Copenhagen earlier this year.
Read the entire article here: http://hotelnewsnow.com/Articles/291995/Large-scale-hotel-expansion-under-Northern-Lights