HOTEL MARKET PERFORMANCE - Q4 2019
Oslo hotel market saw performance worsening in Q4 2019. The decrease in overall performance was solely carried by a large performance drop in November. Averaging the quarter, the occupancy and ADR performance dropped by 0.8% and 1.4% respectively, resulting in RevPAR decreasing by 2.2% to NOK 651.
In October, the market saw a performance improvement as occupancy increased by 1.6% to reach 71.1%, ADR levels remained quite stable varying only by 0.7% to NOK 1,073 and hence RevPAR increased by 2.4% to NOK 764.
In November, however, RevPAR suffered a notable setback decreasing by 7.8% to NOK 737. This drop in performance was caused by a large decrease in occupancy of 4.4% to 69.9% and a decline in ADR of 3.6% to NOK 1,055.
In December, the hotels’ performance levels remained unchanged. RevPAR remained at NOK 455 as a result of a small occupancy increase of 1% to 46.2% and a slight ADR decrease of 0.9% to NOK 984.
Source: Benchmarking Alliance
|ADR in NOK||1073||1055||984||1044|
|RevPAR in NOK||764||737||455||651|
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