Quarterly market performance report - June - August 2020

Reykjavik


During the rolling three months. RevPAR dropped by 90% to ISK 2,015, driven by the significant drop in occupancy. Occupancy plunged by 84% to 14%. Additionally, ADR declined by 40% from ISK 24,603 in 2019 to ISK 14,963 in 2020;

June occupancy declined by 93% to 6%, the lowest level for the three months tracked. ADR decreased as well by 32% to ISK 16,760, resulting in RevPAR drop of 95% to ISK 950;

July saw some improvements compared to the month of June. Occupancy increased to 17%, a drop of 79% compared to last year. ADR declined by 40% to ISK 15,360. This resulted in a RevPAR decrease of 88% to ISK 2,609;

Finally, in August, the decrease in occupancy followed a similar trend to June and declined by 80% to 18%. Additionally, ADR plummeted by 43% to ISK 14,007. Consequently, RevPAR plunged by 89% to ISK 2,454.

Jun Jul Aug RTM
Occupancy(%) 6 17 18 14
ADR in ISK 16760 15360 14007 14963
RevPAR in ISK 950 2609 2454 2015

NHC PUBLICATIONS

Helsinki Hotel Investment Guide 2019

Mar 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/

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Large-scale hotel expansion under Northern Lights

Dec 2018

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

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