Confidence indicators continued to decline in October for both households and businesses. The household confidence indicator has now reached historically low levels that surpass all declines since 1996. However, even though the outlook may be induced with negativity, the hotel market is still performing well and showing strong key figures. The RevPAR in September this year increased by approximately 64 percent compared to the corresponding month of 2021 and the number of rooms sold has increased by about 31 percent during the same period. 

Please download the report here:
Hotel Market Update Annordia Nov/22.pdf