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The good economy attracted investment to Sweden, which helped to drive sales of luxury hotels in 2017. Business trips to Sweden increased, positively affecting the sales of luxury hotels in Sweden, as many businesses, particularly American companies, have a policy that their employees should stay in 5-star hotels.
The proportion of sales from tourists is growing in luxury hotels. The number of foreign tourists increased rapidly in the last couple of years, therefore having a positive impact on the category.
In the forecast period, luxury hotels is expected to see a slower performance than in the review period in value terms at constant 2017 prices. The reason for this is the higher competition, as many more hotels are being built in urban areas, namely in the two largest cities Stockholm and Gothenburg.
Grand Hôtel led luxury hotels in Sweden in 2016. Not only does it offer more rooms compared with the other luxury hotels, it also has a strong reputation for its luxury heritage, as it is the only Swedish member of “The Leading Hotels of the World”.
There are only five luxury hotels in Sweden; albeit the number of 5-star hotels increased rapidly over the last decade. The newest addition, Upper House, opened in 2013, and stands as a challenger, taking share from the only other luxury hotel in the city of Gothenburg, Elite Hotel Plaza Göteborg.
Finding a niche is expected to be of growing importance for players in luxury hotels in the forecast period. Despite benefiting from high occupancy rates, the few hotels will see competition not only from the other luxury hotels, but also from 4-star hotels, which are increasingly focusing on niches to attract consumers.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Hotels (5-star plus) industry in Sweden with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.