Quarterly market performance report - June - August 2020
Helsinki
Between June and August, occupancy decreased by 73% to 22%. Consequently, RevPAR plummeted by 79% to EUR 20. Compared to the same period last year, ADR fell, by 24% to EUR 90;
In June RevPAR decreased by 91% to EUR 10. This was driven by the 87% drop in occupancy resulting to occupancy level in June of 11%, while ADR decreased by 30% to EUR 95;
July saw a rise as occupancy dropped only by 64% to 28%. In the same month, ADR decreased by 14% to EUR 88. Both these factors resulting at the RevPAR declining by 69% for the high season, resulting in a RevPAR of EUR 24;
Occupancy in August remained at similar levels as during the previous month. The drop in occupancy was 67% for August, resulting in an overall occupancy of 27%. Furthermore, ADR dropped by 24% to EUR 91 Consequently, RevPAR plunged by 75% to EUR 25.
| Jun | Jul | Aug | RTM | |
|---|---|---|---|---|
| Occupancy(%) | 11 | 28 | 27 | 22 |
| ADR in EUR | 95 | 88 | 91 | 90 |
| RevPAR in EUR | 10 | 24 | 25 | 20 |
NHC PUBLICATIONS
Helsinki Hotel Investment Guide 2019
Mar 2019
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/hotels/
READ ARTICLELarge-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