The modest development of the key indicators from the two previous market reports both persisted and, in certain aspects, regressed notably. Specifically, 16 out of the 25 largest municipalities in Sweden exhibit a negative trend in terms of RevPAR, while 15 out of 25 have seen a decline in their number of occupied rooms.
Furthermore, a notable 21 out of the 25 municipalities have experienced a decrease in their occupancy rate. This development suggests that the hotel market is slowing down.
Additional indicators supporting this notion include persistent high inflation despite significant monetary measures, a consistently high and growing unemployment rate, and a low confidence
indicator for both households and businesses. As a result of this, an increasing
number of hotels anticipate a decline in demand for their services over the next 3 months.
Please download the market report here:
Hotel Market Update Annordia Aug/23.pdf