Colliers Denmark Market Report 2024

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HOTEL - COLLIERS MARKET REPORT 2024

Hotel summary

Despite socio-economic turbulence, the num ber of bednights in 2023 set a record for the sec ond year in a row. Foreign tourists are once again flocking to Denmark, and industry KPIs continue to improve. Both the number of foreign tourists and the number of busi ness-related bednights have been historically high throughout 2023, and continued improvement in KPIs has fuelled demand from operators and increased investor interest. Investors have been attracted by good cash flows and internationally high returns. However, hotel investments continue to be affected by difficult financing conditions.

Despite high construction costs and higher yield requirements, new Copenhagen hotel projects are once again on the horizon.