Colliers Denmark Market Report 2025

87

HOTEL - COLLIERS MARKET REPORT 2025

HOTEL INDUSTRIAL AND LOGISTICS RETAIL RESIDENTIAL OFFICE

In Copenhagen, foreign hotel guests accounted for almost two thirds of hotel stays in 2024

Copenhagen

Denmark, excl. Copenhagen

39 % Domestic guests 61 % Foreign guests 39 % Domestic guests 61 % Foreign guests

60 % Domestic guests 40 % Foreign guests 60 % Domestic guests 40 % Foreign guests

Note: Includes data up to and including October 2024. Source: Statistics Denmark, Colliers

Danish hotels are benefitting from an unprecedented increase in the number of tourists and business travellers flocking to the country. Tourists returned quickly after the pandemic, and in 2024 they once again set a record number of overnight stays - for the third year in a row, both in Copenhagen and nation wide. Copenhagen alone registered 5.8 million leisure-re lated overnights up to and including October, representing 8.35% growth relative to the same period in 2023. Several major European cities are facing challenges with ‘overtourism’, which has resulted in a series of measures in the most affected areas. Many cities have implemented a tourist tax, and in Amsterdam the authorities have even introduced a cap on the number of hotel rooms, effectively limiting the construction of new hotels. In Denmark, opinions are divided among political parties as to whether Copenhagen is approaching a similar level of overtourism. However, there is still broad public sup Has ‘overtourism’ hit Copenhagen?

port for tourism. According to VisitDanmark’s annual anal ysis, 78% of Danes surveyed believe that tourism has more positive than negative consequences, both nationally and in their local area. The government has also presented a new tourism strategy to strengthen tourism, which today is one of Denmark’s most important industries and con tributes thousands of jobs across the country. The ambi tion is to increase tourism revenue from DKK 164 billion in 2023 to DKK 200 billion in 2030. In the short term, we therefore believe that restrictions on the number of Copenhagen hotels are unlikely. However, if the growth in leisure-related overnight stays continues, it is possible, in the longer term, that the government will begin to speculate on restrictions on new hotel construction in central Copenhagen, as seen in Amsterdam, for example. All other things being equal, such political intervention would have a significant favourable effect on the current central Copenhagen hotel stock in terms of higher occu pancy rates and rising room rates.