Colliers Market Report Denmark 2023

Hotel - Colliers Market Report 2023

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Increased competition for hotel apartments

Hotel I ndustrial & logistics Retail Residential Office

Stay Copenhagen, Nordhavn, Copenhagen Ø. Photo: Stay Copenhagen

Hotel apartments offer flexibility Hotel apartments or serviced apartments with a hotel like booking system are becoming increasingly popular, allowing guests to check in and out when they please. Hotel apartments can be rented for a period ranging from a few days to up to 12 months. As a rule, the apart ments are furnished like small-sized traditional residen tial lettings, albeit offering hotel-like services and facilities such as a reception desk, room service, housekeeping and laundry services as well as access to fitness facilities. Hotel apartments typically appeal to highly qualified for eign workers or experts posted in Denmark for a short period. Another target group is tourists preferring a homely setting to a traditional hotel. From an operator perspective, one of the advantages of hotel apartments is a certain flexibility: When demand is weak, hotel apartments may be let for lengthier stays at relatively high occupancy rates, and when demand is strong, the operator may focus on short-term stays to maximise room rates and compete with hotels. For instance, hotel apartments remained open for business

during the pandemic because they allowed for social dis tancing and offered rooms equipped with kitchens and self-serve facilities. The number of Copenhagen hotel apartments is on the rise. In Ørestad, Dutch Zoku has added 160 rooms, fea turing in-room kitchens, fitness and laundry facilities, etc. and a 24-hour kiosk. The hotel targets not your average tourist but business people looking for a place to stay for five days or even as long as three months. In Postbyen, a new neighbourhood in the district of Vesterbro, UK hotel chain Edyn is opening its first Copenhagen boutique-style aparthotel with 236 rooms under the Locke brand. In 2023, Marriott introduces its first Danish aparthotel under the Residence Inn brand in the Copenhagen district of Nordhavn. Targeting business and leisure guests alike, the hotel features 95 hotel apartments offering a home away-from-home in terms of separate living room, study and bedroom facilities. All apartments come equipped with wide office desks and fully functional kitchens.