The Hotel Industry in Askøy: Current Status and Outlook

The hotel industry in Askøy is a small but dynamic sector with a unique combination of challenges and opportunities. In 2021, the industry experienced a significant increase in sales (336% annual growth), but subsequent years have shown declines in both employees and operating profit. Only one business is registered in the industry, but that single business has shown variations in operating profit and employees over time. At the same time, data from the broader accommodation sector (which includes cabins, camping, and other forms of accommodation) shows that Askøy has a more diversified structure with a total of 11 businesses. This can provide a basis for comparisons and strategic considerations for entrepreneurs.

Economic Trends

• Sales: In 2021, the industry had a sales surplus of NOK 742,000, an increase of 336% compared to 2020. However, there is no data for 2022 and 2023.
• Employees: The number of employees dropped sharply from 17 in 2019 to 1 in 2022, a decline of 66.7% from 2021 to 2022.
• EBITDA Margin: The single business had an EBITDA margin of 19% in 2021, indicating relatively good operational efficiency.
• Operating Profit: The business had an operating profit of NOK 47,000 in 2021, but no sales in 2020 and 2019.

Registered Businesses

• Achb Drift As (Kvithovdvegen 7, Hetlevik):
• Organizational form: AS
• Founded: 2015-05-01
• Number of employees: 0
• Operating profit: NOK 47,000 in 2021
• Sales: NOK 0 in 2020 and 2019
• EBITDA: NOK 9,000 in 2021
• EBITDA margin: 19%
• Operating profit per employee: NOK 47,000 (no employees)
• EBITDA per employee: NOK 9,000 (no employees)
• Bankrupt: Not bankrupt
• Postal code: 5307
• Total debt: NOK 270,000
• Equity: NOK 77,000
• Sales growth: -56%
• Operating profit: NOK 9,000

Geographic Distribution

• Hetlevik: The only area with registered businesses in the hotel industry (Achb Drift As at Kvithovdvegen 7).
• Other areas in Askøy: No registered hotel businesses in other districts, which may indicate a concentration of activity in Hetlevik. This could be an opportunity for development in other areas if there is a need for more hotels in the municipality.

• Bankruptcy: No businesses in the hotel industry in Askøy are registered as bankrupt in the data.
• Operational Efficiency: The single business had a positive EBITDA in 2021, but no sales in 2020 and 2019. This may indicate uncertainty in income streams.
• Employees: A sharp decline in the number of employees from 17 in 2019 to 1 in 2022, which may be a consequence of economic challenges or changes in the business model.

Outlook for Entrepreneurs

• Short-term Growth: The single business had a significant sales growth in 2021, but it is uncertain whether this can be sustained. Entrepreneurs should consider analyzing the causes of this growth and how it can be maintained.
• Niche Market: With only one business in the industry, it may be possible to establish a presence in a niche market, but it is important to consider competition from the broader accommodation sector (which includes cabins and camping).
• Operational Efficiency: The single business had a relatively good EBITDA margin in 2021, which may indicate that it is possible to run a profitable business in the industry. Entrepreneurs should, however, be aware of the previous declines in sales and employees.

• Accommodation Sector in Askøy has a total of 11 businesses, showing a more diversified structure compared to the hotel industry (1 business).
• Sales: In 2021, the accommodation sector had a sales surplus of NOK 1.7 million, while the hotel industry had NOK 742,000. This shows that the accommodation sector has a larger market share.
• Employees: The accommodation sector had 4 employees in 2022, while the hotel industry had 1 employee. This may indicate that the accommodation sector has a more stable labor market situation.
• Peer Businesses: Examples of businesses in the accommodation sector that are not in the hotel industry include:
• Anjo Eiendom Holding As (Signalvegen 2, 5307 Ask): EBITDA of NOK 6.3 million
• Herdla Ferie Og Fritid As (Håpolden 2, 5315 Herdla): EBITDA of NOK 543,000
• Bindu As (Floridavegen 81, 5307 Ask): EBITDA of NOK 66,000
• Hefi Invest As (Håpolden 2, 5315 Herdla): EBITDA of NOK 19,000
• Campervan Eu As (Langafjellet 19, 5302 Strusshamn): EBITDA of NOK 0
• Eides Enkeltmannsforetak (Davangervegen 57, 5310 Hauglandshella): EBITDA of NOK 0
• Jm Utleie As (Signalvegen 2, 5307 Ask): EBITDA of NOK 0

• Parken Hytteutleie Wenche Våge (Holmavegen 69, 5310 Hauglandshella): EBITDA of NOK 0

The hotel industry in Askøy is a small but potentially profitable sector with a single business that has shown both growth and challenges. With a significant sales growth in 2021 and a relatively good EBITDA margin, it may be possible to run a profitable business, but it is important to be aware of the previous declines in sales and employees. The broader accommodation sector in Askøy has a more diversified structure with 11 businesses, which can provide a basis for comparisons and strategic considerations for entrepreneurs. SmartGrunder can help entrepreneurs explore addresses in Askøy for the hotel industry where it is natural (especially development).