Quarterly market performance report - Q2 2020
The Helsinki hotel market is one of the worst-hit capitals in the Nordics. In terms of occupancy, the drop for all three months was staggering, and the total occupancy for Q2 dropped by 92.7% to 5.4%. Consequently, RevPAR for Q2 followed a similar trend and plummeted by 94.1% to EUR 5
ADR, on the other hand, was the strongest among the Nordic capitals. Nevertheless, during Q2, ADR decreased by 19.8% to EUR 99.
Occupancy in April reached an all-time low, a staggering 2.6%, signifying a drop of 95.9%. ADR in April increased by 6.0% compared to April 2019, to EUR 111. Therefore, the 95.7% decline in RevPAR was solely driven by the drop in occupancy, and RevPAR for April dropped to EUR 3.
May saw an insignificant improvement to April. Occupancy dived by 95.6% to 3.4%, and ADR for May declined by 19.5% to EUR 101. Driven by both the drop in occupancy and ADR, RevPAR decreased by 96.5% to EUR 3, thus no change from April.
Finally, with restrictions easing and summer holidays approaching, occupancy in June saw a smaller drop than during the two months prior. Nonetheless, occupancy decreased by 87.1% to 10.3%. ADR saw a more modest decline of 29.7% to EUR 95. Consequently, RevPAR saw the smallest drop of all the months in Q2 and decreased by 90.9% to EUR 10.
|ADR in EUR||111||101||95||99|
|RevPAR in EUR||3||3||10||5|
Helsinki Hotel Investment Guide 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 ARTICLE
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