The hotel industry is showing a more positive outlook on future demand, but staff shortages remain low.
In the second quarter, Sweden’s average daily rate (ADR) and room revenue increased by 3.2% and 3.5%, respectively, compared to the same quarter the previous year. However, the number of occupied rooms increased by only 0.3%, while the occupancy rate dropped by 0.5 percentage points during the same period.
The hotel companies’ view of their profitability and room rates deteriorated in the second quarter. On the other hand, the outlook for demand over the next six months has improved compared to the previous quarter. The staff shortage remained low, with 91 percent of the hotel companies surveyed reporting no staff shortage. Furthermore, 83 percent of the hotel companies and 55 percent of the companies in the service sector expect the number of employees to remain unchanged over the next three months.
The report is in Swedish, please download here:
Hotellmarknadens Konjunkturbarometer augusti 2024.pdf