MR 2018

65

Copenhagen Property Market Report 2018

Downtrending yield requirements on hotels let on lease agreements

Hotel KPI forecast for 2018-2019 KPI 2017

3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00%

E2018 E2019

Occupancy rate Regular

82.3% 81.4% 80.2%

Upscale

78.8% 77.6% 76.5%

ADR (DKK)

Regular

901

930

925

Upscale

1061

1100 1095

RevPAR (DKK) Regular

753

750

746

08 09 10 11

12 13 14 15 16 17 18

Upscale

848

850

837

Secondary

Prime

Note: Net initial yield requirements, Copenhagen hotels let on lease agreements carrying non-terminability periods of 15+ years.

Note: ADR = Average Daily Rate. RevPar = Revenue Per Available Room. DKK, excl. VAT. Sources: Benchmarking Alliance and Sadolin & Albæk

Source: Sadolin & Albæk

Pipeline: Initiated and announced hotel projects in Copenhagen

No. of rooms

Hotel

District

Type Expected opening

Concept

Scandic, Kødbyen

Copenhagen V

New

2018

Upscale

370

Citizen M, Dagmarhus

Copenhagen V

New

2018

Affordable luxury

230

Moxy Hotel

Sydhavnen

New

2018

Affordable luxury

204

Copenhagen Hospitality College CBD

New

2018

na

150

Hotel Falconer, Scandic

Frederiksberg Copenhagen Ø

Expansion Expansion

2018 2018

Regular - MICE

137

Charlottehaven

Apartments

37

Brøchner Hotels, Bremerholmen CBD

New

2018

Luxury boutique

31

CABINN, Kalvebod Brygge WakeUP Kalvebod Brygge

CBD CBD CBD

New New

2019 2019 2019 2019 2019 2020 2020 2020

Low price Low price Low price

1,200

585 250 250

WakeUP, Borgergade Hotel Scandiagade

Expansion

Sydhavnen

New New New New New New New New New New New

na

Hotel Ottilia, Brøchner Hotels

Carlsberg City District

Boutique

156

Comfort

Airport

Airport hotel

500 500

Comwell, Nordhavn

Nordhavn

Upscale - MICE

Project Green

Copenhagen S

Upscale

416

Postterminalen, Nordic Choice CBD

2020

Upscale

380

Scandic, Scanport

Airport

2020

Airport hotel

357 632

Scandic, Kalvebod Brygge

CBD

2021

Upscale

New hotel

Sydhavnen Nordhavn

na na na

na na

approx. 450

Copenhagen Gate

400 350

Tobaksbyen, Gladsaxe

Lyngby/Gladsaxe

Regular - suburban

Hotel on Redmolen

Nordhavn

New

na

Upscale

approx. 300

In total

7,885

Sources: HORESTA and Sadolin & Albæk