HOTEL MARKET PERFORMANCE - Q3 2019
In the third quarter of 2019, Oslo experienced an overall decrease in performance. Both the ADR level and occupancy level decreased, resulting in RevPAR to drop by 4,4% to NOK 751, Besides September’s occupancy increase, all other KPIs show lower values compared to the same period in 2018,
In July, RevPAR dropped with 7,4% to NOK 568, mainly caused by occupancy decreasing with 6,2% to 64,7% and by a drop in ADR, which changed less extensively with 1,3%. In August, the occupancy level decreased by 2,3% to 78,1%, ADR by 3,5% to NOK 1,040, and hence RevPAR decreased by 5,7% to NOK 812. In contrast to July and August, September recorded growth in occupancy of 0,4%, reaching 77,6%. However, RevPAR dropped by 1% since ADR decreased by 1,4% to NOK 1,040. RevPAR reached NOK 872
Data source: Benchmarking Alliance
|ADR in NOK||878||1040||1027||1022|
|RevPAR in NOK||575||812||872||751|
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