Hotel Market Update Oct/23

The key figures within the Swedish hotel market, alongside the macroeconomic indicators, reveal a sustained and enduring strain on the market. More specifically, confidence indicators for both businesses and households have notably declined from an already low level, the Swedish Krona exhibits a persistent downward trend and 77 percent of all hotels who participated the economic tendency survey made by Konjunkturinstitutet anticipate either unchanged or decreased demand during the next 3 months.

Additionally, several of the 25 largest municipalities experienced a challenging August, marked by several negative performance indicators when compared to August 2022. Among the 25 largest municipalities, 8 saw a decrease in their average room rate, 11 experienced a decline in their RevPAR, 15 reported fewer rooms sold, and 17 had a decrease in their occupancy rate.

Please download the market report here:
Hotel Market Update Annordia Oct/23.pdf