Market report full year 2024

The Market report for the Norwegian Hotel Industry – Full Year 2024 is now available.

The report can be downloaded from our website, or directly via this email. It analyzes market developments in the eight largest hotel markets and Norway as a whole, presents key figures for the hotel industry with tables, graphs, and comments, and provides an overview of the largest cities in Sweden.

A weak Norwegian currency and low capacity growth have positively influenced the hotel market inNorway in 2024, resulting in more guests, higher prices, and increased occupancy. Consequently, RevPAR increased by 10.2%, which in turn led to significantly higher rental income for hotel owners. In 2024, the hotel industry's accommodation revenue grew to NOK 24.5 billion, a growth of 12% from 2023 and an increase of 86% since 2015.

The report shows that Bodø and Tromsø enjoyed the highest growth in market shares in 2024. Tromsø achieved a RevPAR of NOK 1,277 (+23.6%), while Bodø had an increase of 27.5% from 2023.

The report also evaluates various factors that may affect the hotel market over the next 12-18 months, providing insight into the industry's outlook.

We trust you will find the report informative and look forward to your feedback. Please do not hesitate to contact us should you have any questions or comments regarding the report.

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