The hotel market in January 2023 shows great promise with strong key figures, especially in comparison to the corresponding month of 2022. However, the strong monthly figures are heavily affected by the restrictions that still were in place in January 2022. But the statistics from January 2023 are also strong compared to January 2019 where, for instance, the ADR was about 10 percent higher and the RevPAR level was about 4 percent higher.

Moreover, the GDP development in Sweden is expected to have a strong recovery following a forecasted decline in 2023/2024. Historically, the connection between GDP and the hotel industry has been strong. Furthermore, the confidence indicators for both households and businesses have recovered slightly which is the first time in over a year that they have increased in unison. 

Please download the report here:
Hotel Market Update Annordia Mar/023.pdf