Quarterly market performance report - Q1 2021
Helsinki
- As the rest of the Nordics, Helsinki has been through a significant decline in occupancy, which has led to a weak RevPAR quarterly average of 11 EUR. Mostly driven by occupancy, which has plummeted by 76% compared to last year, and an ADR of 86 EUR.
- In January, Helsinki experienced an ADR of 85 EUR in combination with an occupancy of 12%. This decline in both ADR and occupancy generated a 11 EUR RevPAR.
- In February, the Helsinki market recorded its’ best occupancy and ADR in Q1, with an average 15% occupancy and 89 EUR ADR, resulting in RevPAR of a 13 EUR, an 80% decline in comparison to last year’s RevPAR.
- March was a difficult month for Helsinki as the government imposed stricter restrictions in certain parts of Finland, with Helsinki being one of them. This resulted in a 10% occupancy and an ADR of 85 EUR, causing a RevPAR of a meager 8 EUR, a 72% drop compared to last year.
| Jan | Feb | Mar | Q1 | |
|---|---|---|---|---|
| Occupancy(%) | 12 | 15 | 10 | 12 |
| ADR in EUR | 85 | 89 | 85 | 86 |
| RevPAR in EUR | 11 | 13 | 8 | 11 |
NHC PUBLICATIONS
Helsinki Hotel Investment Guide 2020
Jan 2021
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/
READ ARTICLE
Large-scale hotel expansion under Northern Lights
Dec 2018
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