Quarterly market performance report - Q4 2020
- During the fourth quarter. RevPAR dropped by 95% to ISK 601, driven by the significant drop in occupancy. Occupancy plunged by 93% to 5%. Additionally, ADR declined by 23% to ISK 12,073 in 2020. As it is strongly relying on the American market, the latest travel restrictions have had a significant impact on the islandic market explaining why Reykjavik performance compared to other Nordic capitals.
- October occupancy declined by 92% to 6%, the highest level for the three months tracked. ADR decreased as well by 26% to ISK 12,454 , resulting in RevPAR drop of 94% to ISK 777;
- RevPAR in November dropped by 95% to ISK 521 driven by the 94% drop in occupancy to 5% and ADR dropping by 22% to ISK 11,515
- Finally in December occupancy dropped the lowest by 94% to 4%. ADR dropped by 23% to 12,057 resulting in a 95% drop in RevPAR to 488.
|ADR in ISK||12454||11515||12057||12073|
|RevPAR in ISK||777||521||488||601|
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