Since the beginning of the pandemic, hotels in Finland have suffered from the lack of inbound travel, there being less business travel (no MICE), there being no festivals, and domestic travellers in many cases preferring other lodging types, especially own and rented cottages and campsites. Many hotels have closed temporarily.
As well as the challenge of much fewer inbound arrivals, the strong increase in sales of cottages and domestic stays in rented cottages poses strong competition to hotels. Also, domestic overnight stays in campsites rose in 2020.
Although 2021 has seen little in the way of recovery for lodging, such establishments are long-term investments, and players thinking are looking to the future. The number of hotel outlets and rooms are expected to grow again, with overnights set to pick up as well when inbound travel becomes less restricted.
There are few traditional hostels in Finland, in the sense of offering dorms, and this segment is underdeveloped. For health security reasons, traditional hostels will continue to suffer until people feel comfortable again sharing rooms with strangers and socialising (although many guests are young people who are not at the biggest risk of COVID-19).
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This report originates from Passport, our Lodging research and analysis database.
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