HOTEL MARKET PERFORMANCE - Q2 2019
In the second quarter of 2019 Oslo experienced a 3.7% decline in RevPAR to NOK 768 offset by an increase in the ADR by 2.1% and a decrease in Occupancy by 5.7%
The second quarter in Oslo was characterized by a large decrease in performance levels in April balanced out by growth in May and June. In April, the occupancy level decreased by 18.1% to 53.2%, ADR decreased by 6.3% to NOK 978 and hence RevPAR by 23.3% to NOK 575. In May, Occupancy increased by 4.0% to 69.4%, and ADR decreased by 2.6%, resulting in RevPAR increasing by 1.3% to NOK 759. June improved the most with an increase of 5.8% to NOK 1022 in RevPAR from 2018. This was driven by the increase in ADR of 10.3% to NOK 1027 and the increase in occupancy of 10.6% to 78.9%
|ADR in NOK||978||1093||1027||1141|
|RevPAR in NOK||575||759||1022||768|
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