Quarterly market performance report - Q2 2020
The Stockholm hotel market has not seen a significant improvement during the past quarter. Occupancy during Q2 2020 decreased by 82.7% compared to Q2 2019, to a level of 12.4%. Similarly, RevPAR plunged by 89.2% to SEK 99.
Furthermore, ADR in Q2 declined only by 37.7%, compared to the same period in 2019, to SEK 797.
April occupancy dropped by 84.4% to 9.7%, and ADR decreased by a more moderate 24.9% to SEK 811. RevPAR in April fell to new lows, a decrease of 88.3% compared to April 2019, resulting in a RevPAR of SEK 79.
In May, the drop in occupancy resembled that of April, a decrease of 84.3% to 12.3%. ADR also saw its most significant reduction of 42.8% to SEK 795. Driven by the decrease in ADR and occupancy, RevPAR plummeted by 91.0% to SEK 98.
In June, occupancy increased further slightly compared to May, nonetheless, occupancy dropped by 79.6% to 15.3%. Furthermore, ADR declined by 40.4% to SEK 790, while RevPAR plunged by 87.9% to SEK 121.
|ADR in SEK||811||795||790||797|
|RevPAR in SEK||79||98||121||99|
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