HOTEL MARKET PERFORMANCE - Q3 2019
Helsinki's hotel market recorded high growth in the third quarter. After a significant ADR improvement of 6,5% to EUR 123 and an occupancy change of 2% to surpass 80%, RevPAR increased with 8,6% to just below EUR 100.
In July, the city recorded an increase with 4,5% occupancy reaching 76,8% and ADR levels above EUR 100 after a little change of -04% compared to 2018. The improvement in occupancy resulted in RevPAR growing with 4,1% to EUR 79. August changed insignificantly compared to last year’s period as prices remained stable at EUR 121 and occupancy at 83,1%. RevPAR stayed unchanged, varying only by -0,1% to EUR 144. In September, the Helsinki market saw an impressive change in RevPAR. ADR increased by 19,5% and occupancy grew by 2%. This resulted in RevPAR increasing with 21.8% to EUR 117.
Data source: Benchmarking Alliance
|ADR in EUR||103||121||144||123|
|RevPAR in EUR||79||109||117||98|
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