HOTEL MARKET PERFORMANCE - Q2 2019
In the second quarter of 2019, Reykjavik experienced negative growth in RevPAR. The Icelandic capital experienced a 6,6% RevPAR drop to 14515 ISK, the drop was influenced by the decrease in occupancy of 4.0%, and a decrease of 2.6% in ADR.
April was impacted with the largest changes, despite the 5.7% increase in ADR there was an 8.2% drop in the RevPAR to ISK 9805. This was the result of a 13.2% drop in Occupancy. In May, the ADR decreased by 3.9% to ISK 19541 and occupancy increased by 4.5% to 70.3% leading to an increase of 0.4% in RevPAR to ISK 13734. In June, the hotel market saw the largest decrease in RevPAR of 10.5% to 19939 ISK. This change was coursed by the ADR level that decreased by 6.7% compared to 2018, to ISK 24,928, and the occupancy level that decreased to 80% corresponding to a drop 0f 4.0%.
|ADR in ISK||16761||19541||24928||20837|
|RevPAR in ISK||9805||13734||19939||14515|
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