Quarterly market performance report - Q1 2021
- Reykjavik has continued to be the worst performing market during COVID19, with occupancy having been around 7% and ADR at 11,947 ISK, the market has experienced an average RevPAR of 771 ISK, a 91% drop compared to last year’s quarter.
- In January, compared to 2020, occupancy declined by 93% to an average 5% while ADR decreased by 18% compared to last year leading to 11,897 ISK, consequently, causing a RevPAR of 586 ISK, a decrease of almost 94% compared to same period last year.
- February showed a slight increase in RevPAR compared to January, having increased to 790 ISK for the month. Nonetheless, this is still a decline of 93% in RevPAR compared to February last year, caused by an occupancy of about 7% and an ADR of 11,956 ISK.
- However, Reykjavik is showing a positive trend for the quarter, March continued to improve, with 8% occupancy and an ADR of 11,971 ISK, Reykjavik continues to improve RevPAR to an average of 938 for the month of March, a decrease of 83% since last year.
|ADR in ISK||11897||11956||11971||11947|
|RevPAR in ISK||586||790||938||771|
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