The number of rooms sold in Sweden increased by 1.7 percent in November 2024, while the occupancy rate and the ADR increased by less than 1 percent compared to the same month in 2023.

Stockholm and Gothenburg saw positive key indicators, with a significant increase in the number of rooms sold (more than 5 percent). The occupancy rate and the ADR increased as well, leading to an increase in RevPAR of 4.7 percent in Stockholm and 3.6 percent in Gothenburg. However, a majority of the 25 largest hotel municipalities in Sweden saw negative trends in their key indicators in November compared to November 2023.

Inflation in Sweden decreased in December and has been steady below Riksbanken’s target of 2 percent since the summer of 2024. However, the unemployment rate remains relatively high and the Swedish Krona is still weak compared to the euro and the US dollar.

In general, the Nordic countries saw significant increases in the key indicators in November compared to the same month last year. RevPAR increased by 12.9 percent in Norway and 16.2 percent in Oslo, mainly driven by high ADR:s, while 12.7 percent more rooms were sold in Helsinki where the occupancy rate increased from 59.7 to 65.0 percent.

The value of the Swedish Krona continued to decrease relative to the US dollar but increased slightly relative to the euro. – see exchange rates on page 2.

The unemployment rate increased for the 24th consecutive month and reached 8.5 percent in November – see unemployment rate on page 2.

There is increased positivity in the business sector according to the confidence indicator. – see confidence indicators on page 2.

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