Quarterly market performance report - Q2 2021
- In comparison to the other Nordic capitals, during Q2, Reykjavik is significantly improving, with RevPAR levels for the quarter having increased by almost 600% compared to Q2 2020, to 3,186 ISK, mostly due to an increased occupancy of almost 500% for the period. All in all, performance levels are in line with performance across the Nordics.
- In April, Reykjavik hotels recorded occupancy rates around 8%, the lowest of the Nordic cities during this period. In combination with ADRs around 12,696 ISK, resulting in low RevPAR levels around 1,000 ISK.
- However, in May, Reykjavik showed improvement. Compared to May last year occupancy increased by approximately 700% to levels around 19%, in combination with a 26% increase in ADR, Reykjavik hotels achieved RevPARs around 2,800 ISK, an extreme increase compared to the low levels in May last year by almost 900%.
- Furthermore, the trend of improvement continued in June, where hotels in the region continued to outperform last year’s horrible results. Occupancy was at around 30%, with ADRs around 20,000 ISK, leading to an average RevPAR of approximately 5,800 ISK, a 500% improvement compared to June last year.
|ADR in ISK||12696||14637||19642||16929|
|RevPAR in ISK||1003||2819||5799||3186|
Helsinki Hotel Investment Guide 2020
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/helsinki-hotel-investment-guide-2020/
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