The luxury hotel industry, which traditionally heavily relies on international guests and large-scale business events, continues to be the most severely affected by the pandemic and existing travel restrictions in 2021. As of 20 September 2021, there were the following travel regulations set in place until 31 October 2021: travellers from many non-EU/EEA countries are obliged to provide a negative COVID-19 test; nationals travelling from an EU/EEA country need to show a EU COVID-19 certificate of vaccination or recovery; and only nationals of other Nordic countries, such as Finland, Norway, Denmark, and Iceland, are exempted from all regulations on entry to Sweden.
Luxury hotels in Sweden, which experienced a strong decline in 2020, is seeing a rebound to recovery in 2021 which is expected to continue into 2022 at a stronger rate. This is being driven by the aforementioned eased restrictions on international travel from Europe and the pent-up demand of Swedish nationals for domestic travel and luxury experiences.
Among the leaders in luxury hotels are Grand Hôtel, Hotel At Six, Nobis Hotel and Hotel Diplomat, all situated in Stockholm. To ensure the safety of guests staying in their premises, all luxury hotels reinforced their hygiene protocols.
Luxury hotels is expected to continue its recovery growth in the five-year prospective, recording the most dynamic growth in 2022 and then stabilising to historic levels of growth over the remainder of the forecast period. The industry is expected to benefit in 2022 from higher vaccination rates across Western and Northern European countries, as well as from lifted restrictions on big events and conferences in Sweden.
Remote working and virtual meetings as long-term trends are presenting a major challenge to luxury hotels, which are heavily dependent on physical events and large-scale conferences. The leading local players are at the forefront of innovations to provide new solutions for online events in hotel settings.
European travellers from Norway, Germany, Denmark and Finland, traditionally the largest providers of tourists to Sweden before pandemic, were among the first to resume their traveling in 2021. The number of international visitors peaked during the summer season of 2021, yet it was still below the pre-pandemic levels.
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Luxury: includes luxury and upper upscale hotels. Would generally include 5-star hotels and above, but may include some “4.5-Star” outlets, provided that the brands positioning warrants it. The luxury classification is primarily determined by the brand’s positioning and marketing, which will be at the high-end. Brand examples include Marriott, Hilton, Sofitel and InterContinental.
See All of Our DefinitionsThis report originates from Passport, our Luxury Hotels (5-star plus) research and analysis database.
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