Please be aware that 2024 was a leap year which means that there was one more day in February compared to this year. That might have a slight effect on certain key indicators. However, the key indicators in Sweden were almost identical in February 2025 compared to February 2024. The change in occupancy rate, number of rooms sold, and ADR was less than 1 percent.

Stockholm saw negative developments across all key indicators with a 4-
percent decrease in the number of rooms sold, a 3.5-percentage point decrease
in occupancy rate and a 5-percent decrease in ADR, which led to an 11-per-
cent decrease in RevPAR. Furthermore, Gothenburg saw slight decreases in all key indicators, while Malmö saw an increase of almost 14 percent in RevPAR.

The value of the Swedish Krona strengthened significantly against the US dollar and the euro in March, which typically is not ideal for the hotel sector as it becomes more expensive for many tourists to visit Sweden. The inflation with fixed interest rates decreased in March after reaching almost 3 percent in February, while the unemployment rate continued to rise.

In the Nordic countries and capitals, both Norway and Denmark saw very positive key indicators in February compared to the same month in 2024. RevPAR increased by 21 percent in Oslo, driven by increased demand, ADR and occupancy rate. In Copenhagen, the occupancy rate increased from 50 to 56 percent.

• The value of the Swedish Krona increased significantly relative to the US dollar and the euro – see exchange rates on page 2.

• The unemployment rate continued to increase and reached 8.8 percent in March – see unemployment rate on page 2.

• CPIF decreased to 2.3 percent in March after significant increases the two previous months – see inflation rates on page 2.

Please download the market report here:
Hotel Market Update Annordia Apr/25.pdf