Quarterly market performance report - Q4 2020
- For the last three months in the Oslo market, RevPAR dropped by 80% to NOK 98. ADR for the quarter decreased by 27% to NOK 564; occupancy plummeted by 73% to 17%;
- October´s performance was at a similar level to other Nordic capitals. RevPAR declined by 77% to NOK 131, driven by a 69% drop in occupancy to 23%. ADR, dropped by 27% to NOK 578;
- In November there was the biggest in RevPAR declined by 85% to NOK 85, driven by a 78% drop in occupancy to 16%. ADR, dropped by 30% to NOK 545;
- Finally in December RevPAR was down 79% to 76, driven by the 72% drop in occupancy to 13% and as well by the 23% drop in the ADR to 564.
|ADR in NOK||578||545||564||564|
|RevPAR in NOK||131||85||76||96|
Helsinki Hotel Investment Guide 2020
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/
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