Market report 4Q22

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February 27, 2023

In spite of the fact that January and February in 2022 was effected by pandemic restrictions, the full year of 2022 became a good year for the hotel industry. In the second half of the year the growth in revenue was high, particularly inQ3.

Both the leisure- and the conference market were in the second half back on the same level as in 2019.

The positive numbers in 2022 are driven by extensive increase in average room rates by 21,8 % compared to 2019. In the same period the CPI growth was 10,8 %.

Total room revenue in 2022 was 17,1 % higher than 2019. The quick recovery was far away fromwhat the industry and other experts expected from the market in 2022.