The hotel market in Sweden exhibits a persisting strain which partially can be derived from the high inflation rate and lower economic activity. Fortunately, strong foreign tourism has supported the hotels as Sweden has become an increasingly cost-effective destination. Statistical data reveals that when compared to 2022, the number of guest nights among Swedish nationals declined by 3 percent during the months of May, June, and July. In contrast, the number of guest nights among foreign visitors during the same comparative period increased by 14 percent.

However, when compared to the pre-pandemic year of 2019, the number of guest nights remains almost identical. This suggests that the increase in foreign guests is not radical but indicates a recovery following the pandemic.

When analyzing the macroeconomic indicators, the anticipated demand and the confidence indicators have declined. Yet, the inflation rate has regressed, which is a positive note amid the uncertain outlook.

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