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Finland Hotels Show Improving Performance

News STR Global has issued its report concerning the state of the hotel market of Finland. The company has analyzed the data from 90 hotels all over the country with the total number of guestrooms exceeding 16,000. This is a significant increase comparing to the previous year (+23% in the number of guestrooms included in the report).

According to the data, October only followed the positive trend of the whole year. Hotels in Helsinki show the biggest increase in the occupancy – plus 3.7%. Hotels in the central part of the city (Helsinki City Centre) feature bigger growth of occupancy than hotels in the city’s surroundings (here the raise of occupancy reached 3.2%). Regional hotels have the average increase of occupancy of 2.5%. Other large cities of the country, Turku and Tampere, show more modest results in terms of occupancy +0.7% and +0.2% respectively. However, the raise of ADR of these two cities is the largest in the country - +5.1% and +2.5% respectively. Experts name low levels of ADR on previous periods as the main reason for such increase. Hotels in Helsinki still win in terms of the growth of RevPAR – additional 6% in October and €66. RevPAR in Turku rose by 5.8% and estimated €50, in Tampere – by 2.7% and estimated 2.7%.


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