Market report 2Q23

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September 7, 2023

Hotelia continues to believe that the Norwegian hotel market has an overall positive outlook, albeit several uncertain factors. The positive trend from 2nd half of 2022 continues into 2023.

The general increase of ADR is still high and lifts the RevPAR above 2019 levels.

The Leisure and C&E markets have been strong since the lifting of the Covid-19 restrictions in 2022, and the momentum has been kept through the first half of 2023, Hotelia believes the trend will continue for the remainder of 2023. The Corporate segment is still trailing 2019 levels.

Total number of sold guest rooms are on par with 2019, but increase in capacity results in reduced occupancy percentages.  

The considerable weakening of the Norwegian currency versus other major currencies, is expected to positively affect the return of international travelers.