Quarterly market performance report - June - August 2020
For the last three months in the Oslo market, RevPAR dropped by 72% to NOK 236. ADR for the three months decreased by 20% to NOK 880; occupancy plummeted by 65% to 27%;
June performance was at a similar level to other Nordic capitals. RevPAR declined by 83% to NOK 176, driven by a 76% drop in occupancy to 19%. ADR, on the other hand, increased slightly by 31% to NOK 176;
July saw an unprecedented decline in occupancy, which dropped by 52% to only 32%. Consequently, RevPAR plunged to NOK 275, a decrease of 54%. ADR remained relatively unscathed and decreased by 3% to NOK 869;
Finally, the occupancy for August picked up as it decreased only by 64% to 29%. ADR decreased by 18% to NOK 870. Consequently, the drop in ADR drove the 70% decline in RevPAR, dropping it to NOK 254 for the month of August
|ADR in NOK||913||869||870||880|
|RevPAR in NOK||176||275||254||236|
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