There were only small changes in the key indicators for the Swedish hotel market in September 2024 compared to the same month in 2023. The number of rooms sold increased by 0.8 percent and the occupancy rate decreased by 0.7 percent. The ADR increased by 2.1 percent which led to an increase of 1.5 percent in RevPAR. 

In the two largest municipalities, there were some significant changes. Stockholm in general had positive developments in their key indicators with a 6 percent increase in ADR, which together with a slight increase in occupancy rate led to an increase of 7.4 percent in RevPAR. Gothenburg, on the other hand, saw a decrease in RevPAR of 8.3 percent. 

Luleå saw the most positive development among the 25 largest hotel municipalities in Sweden with increases of around 20 percent in the number of rooms sold, occupancy rate and RevPAR, while Gotland saw the largest downturn in the same indicators.

Looking at the macroeconomic indicators, the Swedish Krona weakened against the Euro and the US dollar, and the unemployment rate reached its highest level since the pandemic. 

Most key indicators in Finland developed negatively in September 2024 compared to the same month in 2023. The development was generally positive in the other three Nordic countries and their capitals. 

• The value of the Swedish Krona decreased relative to both the   Euro and the US Dollar – see exchange rates on page 2.
• The unemployment rate increased for the 21st consecutive month and reached 8.5 percent in September – see unemployment rate on page 2.
• Neutral expectations for future demand in the hotel industry.

Please download the market report here:
Hotel Marke Update Annordia Nov/24.pdf