Quarterly market performance report - Q4 2021
Reykjavik
- Reykjavik performed strong numbers during Q4 compared to 2020. The occupancy of the quarter was more than 58% and the ADR was ISK 16,319, which led to a RevPAR of ISK 9,507. The good performance indicated a recovery of the market, however, it should be noted that the RevPAR index was 0.75 compared to 2019.
- In October, the occupancy was 74%, and above 70% for the first time since 2019. Moreover, the ADR was at ISK 16,592, which led to a RevPAR at ISK 12,205, an increase of 1435% compared to 2020.
- The KPIs decreased a bit in November compared to October, however, in comparison to 2020, there was a positive trend for the month. The ADR was ISK 15,204 and the occupancy 57%, giving a RevPAR of ISK 8,707.
- In December, the ADR performance was the strongest of the entire 2021 with ISK 17,494. On the other side, the occupancy was not so strong and dropped down to 43%. As a result, the RevPAR ended at ISK 7.575 for December.
| Oct | Nov | Dec | Q4 | |
|---|---|---|---|---|
| Occupancy(%) | 74 | 57 | 43 | 58 |
| ADR in ISK | 16492 | 15204 | 17494 | 16319 |
| RevPAR in ISK | 12205 | 8707 | 7575 | 9507 |
NHC PUBLICATIONS
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/
READ ARTICLE
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