HOTEL MARKET PERFORMANCE - Q3 2019
In Q3, Stockholm saw a performance growth compared to 2018, although recording a slightly lower occupancy rate of 75,6%. A rise in ADR by 3,1% to SEK 1,223 resulted in RevPAR improving with 2,8% to SEK 924. While July saw lower performances compared to last year, August and September grew both with RevPAR levels above 5%.
In July, the city recorded a 5,8% decrease in RevPAR to SEK 669, which was mainly caused by a drop in ADR of 4,3% to SEK 972. The occupancy rate decreased by 1,6% to just below 70%. In August, the ADR level grew with 3,7% to SEK 1,277, and occupancy increased with 1.4% to reach a level above 80% - the peak of the quarter. In consequence, RevPAR improved with 5,1% reaching SEK 1,035. The performance growth continued in September, where RevPAR changed more significantly by 6,7% to SEK 1,074, caused by a considerable rise of 7,5% in ADR to SEK 1,395. However, the occupancy level remained rather stable with a small drop of 0,7% compared to the same period in 2018.
Data source: Benchmarking Alliance
|ADR in SEK||972||1277||1395||1223|
|RevPAR in SEK||669||1035||1074||924|
Helsinki Hotel Investment Guide 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/READ ARTICLE
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