The main key metrics for the Swedish hotel market improved in August 2024 compared to the same month last year. The number of rooms sold increased by 4 percent while the occupancy rate increased by 2 percent, and ADR and RevPAR increased by 3 and 5 percent respectively.            

Stockholm, Gothenburg and Malmö also saw increases. The trend was particularly good in Gothenburg with a 14.3 percent increase in the number of rooms sold, an 11.5 percent increase in occupancy rate and an 11.9 percent increase in RevPAR.

Looking at the macroeconomic statistics, the Swedish Krona continued to strengthen against the US Dollar and the Euro. In addition, CPIF in Sweden continued to decrease and fell to 1.1 percent in September compared to 4.0 percent in September 2023 and 9.7 percent in September 2022.

Furthermore, the main key metrics increased in all the Nordic countries and capitals. Norway saw an 11.4 percent increase in ADR which led to a 14.3 percent increase in RevPAR. Oslo saw a similar development. In Helsinki the number of rooms sold increased by 11.2 percent and RevPAR by 8.7 percent.

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

• The unemployment rate in Sweden remained at 8.4 percent.

• The number of rooms sold in August increased in all the Nordic countries and capitals compared to the same month last year. 

Please download the market report here:
Hotel Market Update Annordia Oct/24.pdf