During the second quarter of 2023, the hotel market in several of the largest Swedish municipalities as well as the country as a whole has subdued from the strong recovery seen after the pandemic, which characterized most of 2022 and the beginning of 2023. Among other things, the number of occupied rooms in the country remained at the same level during the second quarter of 2023 as the same quarter the previous year, despite increased supply. However, this slowdown is anticipated as a return to more normal levels and can partly be derived to the unfavorable macroeconomic climate, including high inflation, despite extensive monetary measures.

The cautious optimism that characterized the previous quarter has been replaced by a more pessimistic outlook this quarter. As the period before the summer months often brings about a more positive perception of the overall state, the smoothed net figure provides a more accurate picture. During the second quarter, the seasonally adjusted net figure of demand for hotel services within 6 months fell to -1, just like the net figure of price expectations over a 3-month period. The view on profitability also significantly decreased to a net total of -11. This means that an increasing number of hotel companies experienced a reduced profitability during the second quarter and have become somewhat pessimistic about future demand and prices.

The report is in Swedish, please download here:
Hotellmarknadens konjunkturbarometer Augusti 2023.pdf