- Annual Report 2022
BALTIC HOTEL MARKET OVERVIEW 2022
Baltic hotel market overview 2022 supplemented with economy and investment overview and tax&legal latest updates.
51 pages in total
Following a depressing start to the year, the hospitality
sector in Estonia has started to recover since April 2021, driven by growing
domestic demand, easing of travel restrictions, relaxed restrictions, and the
previous year’s low reference base.
Riga airport, which plays a vital role in attracting the tourist stream, continued to recover, and in the last quarter of 2021 passengers served had reached 50 per cent of the pre-pandemic level. Government grants helped larger hotel chains to remain operational; however, for smaller hotels that support might not have been sufficient.
Local tourism became a major driver of Lithuanian hotel industry with Lithuanian flows demonstrating robust growth and recording almost 85% of the 2019 level. Compared to other cities, hotels at seaside and health resorts had more opportunities to demonstrate better KPIs last year.
Get more insights and forecasts, as well as economy and investment updates, in our latest Baltic hospitality sector market overview.
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