Nordics Hotel Market Snapshot January 2026

Nordic Hotels 2026 – Capital Activity & Resilient Demand

CBRE’s latest Nordic Hotels report highlights an active and evolving market landscape. Transaction volume reached €1.85 billion in 2025, driven by Capman’s record‑breaking Midstar portfolio acquisition, while a broad range of city, resort, and northern destination hotels continued to attract capital. Despite longer deal processes and ongoing pricing gaps between buyers and sellers, investor interest remains resilient across the region.

Supported by strong travel fundamentals, hotel performance has been robust across the Nordics, with leisure‑driven destinations and internationally oriented cities delivering the strongest results. Limited future supply, increasing pricing power, and sustained infrastructure investment underpin supportive market conditions in the years ahead. This report provides a comprehensive overview of performance, transactions, and the key forces shaping the Nordic hotel market in 2026.