The recovery in the hotel sector slowed in August, compared to the previous month, mainly due to low revenues in Stockholm County.

During the month, accommodation revenues in the country were 28 percent lower than the corresponding month in 2019, according to the Stockholm Chamber of Commerce, which produced data via the Benchmarking Alliance. Total revenues amounted to SEK 1,522 million in August.

The Stockholm region is strongly affected by a lack of foreign tourists and business travelers. Stockholm County's share amounted to SEK 417 million, which is 55 percent lower than in August 2019.

”"The fact that global travel has not yet picked up obviously weighs on Stockholm, the region in Sweden with the clearest international profile," says Stefan Westerberg, chief economist at the Stockholm Chamber of Commerce, in a comment.

But even though the recovery takes time, there is a clear improvement compared to 2020, when accommodation revenues were at an unusually low level.

Source: TT