LONDON—The Finnish hotel industry is showing growth across the board in year-to-date 2011 performance results in all three key performance metrics, according to data from STR Global, the leading provider of market data to the world’s hotel industry.
STR Global expanded their sample of participating hotels in Finland to 90 hotels representing more than 16,000 rooms. This is an increase of 23 percent in room count since December 2010.
STR Global now is reporting on four more markets in Finland: the coastal city of Turku, the southwest regional capital; Tampere, the third most populous municipality in Finland; and the sub-division of the Helsinki conurbation between the city centre and the surroundings.
The new markets of Turku and Tampere might show little growth in occupancy, yet ADR for both markets has performed well. The 5.1-percent increase in ADR in Turku also reflects the fact that the city had the lowest ADR of €74 in the previous period. Both markets fared well with demand grew 6 percent across Helsinki. (See table below.)
Finland Market Performance, year-to-date October 2011
|
|
Occupancy % chg |
ADR % chg |
RevPAR € |
RevPAR % chg |
|
Finland Regional |
2.5% |
3.0% |
€49 |
5.5% |
|
Turku |
0.7% |
5.1% |
€50 |
5.8% |
|
Tampere |
0.2% |
2.5% |
€57 |
2.7% |
|
Helsinki |
3.7% |
2.2% |
€66 |
6.0% |
|
Helsinki City Centre |
4.0% |
2.7% |
€68 |
6.8% |
|
Helsinki surroundings |
3.2% |
1.1% |
€60 |
4.3% |
Source: STR Global
