The development of the industry has pushed the economy forward. In 2019, hotels in Sweden generated a revenue of roughly 26.5 billion Swedish kronor, which was over 10 billion kronor more than in 2009. In comparison with other types of accommodation, hotels account for 90 percent of all accommodation revenues, making it the greatest source of income for the accommodation sector. Over the past decade, the occupancy rate of hotels in Sweden also increased and amounted to 58.3 percent in 2019. A similar tendency was seen for the revenue per available room (RevPAR), peaking at 1,039 kronor the same year.
Being the largest hotel company not only in Sweden, but in the Nordics, the average revenue per available room of the Swedish-founded hotel chain Scandic reached 707 Swedish kronor in 2019. By comparison, the revenue generated from one room at the second largest hotel operator, Nordic Choice Hotels, amounted to 679 Norwegian kroner. Since the outbreak of the coronavirus (COVID-19) in March 2020, however, the hotel industry in Sweden has been negatively impacted. As the number of overnight stays decreased significantly, so did hotel profits. While the RevPAR of hotels in Stockholm amounted to 61 euros in February 2020, it dropped down to as little as 12 euros in June.
