Quarterly market performance report - Q2 2020
Similar to the rest of the Nordic capitals, Q2 2020 was the worst quarter the market has witnessed so far. Occupancy decreased by 83.1% to 11.6%, thus driving the 86.6% drop in RevPAR to NOK 107.
The ADR in Q2 saw a moderate decrease, and declined by 20.6% compared to Q2 2019, to NOK 918.
Hotel performance in April for the Oslo market was like the rest of the Nordic capitals. Occupancy decreased by 88.8% to 6.1%, a historical low. ADR declined only by 4.3% to NOK 934. Consequently, RevPAR dropped by a staggering 89.3% to NOK 57 for April.
May hotel performance picked up slightly from April. Nonetheless, occupancy plunged by 86.7% to 9.5%. Additionally, ADR for May declined by 17.0% to NOK 920. Finally, RevPAR decreased by 88.9% to NOK 87, a drop of NOK 701 compared to May 2019.
Similarly to other Nordic capitals, June hotel performance, saw a minor recovery from the past two months. However, occupancy still decreased by 75.9% to 19.3%, while ADR reduced by only 31.0% to NOK 912. Finally, RevPAR decreased by 83.4% to NOK 176.
|ADR in NOK||934||920||912||918|
|RevPAR in NOK||57||87||176||107|
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