The key indicators in Sweden were significantly worse in April 2025 compared to April 2024, driven by lower demand and ADR. A reason for the decline is the Easter effect as the demand for hotel rooms from the corporate segment drops sharply during holidays. The Easter holidays were partly in March in 2024 but entirely in April in 2025. The number of rooms sold decreased by 2.8 percent, the occupancy rate decreased by 2.5 percentage points and the ADR decreased by 4.3 percent, which led to a decrease in RevPAR of 8.7 percent.

Furthermore, almost all of the 25 largest hotel municipalities in Sweden saw negative developments across the main key indicators in April 2025 compared to the same month last year. ADR in Stockholm decreased by almost 10 percent and the occupancy rate decreased from 68 to 62 percent, which led to a 17-percent decrease in RevPAR. Gothenburg saw a slight increase in demand, while its ADR decreased by 4 percent. The key indicators decreased in Malmö as well.

The Swedish Krona continued to strengthen relative to the US dollar and the euro, and the unemployment rate in Sweden remained at around 8.6 percent.

Looking at the other Nordic countries, Norway and Finland had a similar development as Sweden. The number of rooms sold decreased by almost 6 percent in both countries in April 2025 compared to April 2024, which led to decreased occupancy rates.

• The value of the Swedish Krona continued to increase relative to the
US dollar – see exchange rates on page 2.

• The inflation with fixed interest rates remained at 2.3 percent in May
    – see inflation rates on page 2.

• The unemployment rate is steady around 8.6 percent
– see unemployment rate on page 2.

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