Quarterly market performance report - Q3 2021


  • Reykjavik performed strong numbers during Q3, where the occupancy increased by 307%, ADR by 39% and RevPAR by 468.6% compared to 2020. Moreover, during the quarter the city performed the highest monthly RevPAR since October 2019, but still at an index 0.55 compared to Q3 in 2019.
  • In July, the occupancy was 52%, an increase of 209% after Iceland was closed almost entire July last year for tourists. The ADR also increased and ended at ISK 20,526, which led to a RevPAR at ISK 10,673, an increase of 322% compared to 2020.
  • The KPIs continued to grow in August, and the occupancy, ADR and RevPAR had a positive change compared to 2020 with respectively 255%, 38% and 393%. In fact, the RevPAR at ISK 13,487 was the highest since October 2019.
  • In September, the performance, as every year, decreased a bit compared to August. However, compared to 2020, the city delivered remarkable strong numbers, where occupancy increased with 641% and ADR with 55%. Leading to a RevPAR increasing by 1050%, up to ISK 11,744.
Jul Aug Sept Q3
Occupancy(%) 52 62 59 57
ADR in ISK 20526 21738 19852 20739
RevPAR in ISK 10673 13487 11744 11967


Helsinki Hotel Investment Guide 2020

Jan 2021

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

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