Industry · municipality
The Hotel Industry in Horten
An analysis of companies, statistics, and opportunities for entrepreneurs and local decision-makers
Executive Summary
The hotel industry in Horten consists of four companies employing a total of 146 people in 2026. The four companies are distributed across two districts: Horten (three companies) and Åsgårdstrand (one company). The total sales for the industry amounted to NOK 72.8 million in 2025, representing an annual decline of 11.9% compared to 2024. However, there is significant variation between the companies, with Sms Hotell Drift As reporting a positive EBITDA of NOK 708,000 in 2024, while other companies had negative or zero EBITDA.
The broader accommodation industry in Horten (which includes hotels, camping, and short-term cabins) had a larger number of companies (11) and higher sales (NOK 109.2 million in 2025) compared to the hotel industry alone. This shows that the hotel industry is part of a more diversified market, which can be both an opportunity and a challenge for new entrants.
Economic Overview
Sales and employees in the hotel industry in Horten (2016–2025):
| Year | Sales (NOK) | Employees | Annual sales change | Annual employee change |
|---|---|---|---|---|
| 2016 | 59.1M | 127 | - | - |
| 2017 | 55.4M | 120 | -6.3% | -5.5% |
| 2018 | 68.0M | 162 | +22.9% | +35.0% |
| 2019 | 72.5M | 143 | +6.6% | -11.7% |
| 2020 | 51.5M | 140 | -29.0% | -2.1% |
| 2021 | 43.4M | 136 | -15.7% | -2.9% |
| 2022 | 63.8M | 189 | +47.0% | +39.0% |
| 2023 | 75.7M | 173 | +18.6% | -8.5% |
| 2024 | 82.6M | 159 | +9.2% | -8.1% |
| 2025 | 72.8M | 147 | -11.9% | -7.5% |
Key points:
- Sales declined sharply in 2020 (29.0%) and 2021 (15.7%), likely due to the pandemic.
- There was a significant increase in 2022 (47.0%) and 2023 (18.6%), but sales have since fallen again in 2025.
- The number of employees increased significantly in 2022 (39.0%), but has since decreased.
- The average sales per employee in 2025 was NOK 468,000, which is lower than in 2022 (NOK 338,000).
Companies in the Industry
The following four companies are registered in the hotel industry in Horten:
- Grand Hotel Åsgårdstrand As (Åsgårdstrand) – 53 employees, 0 sales, 0 EBITDA.
- Horten Hotelldrift As (Horten) – 43 employees, NOK 43.0M sales, NOK 199,000 EBITDA.
- Rs Noatun As (Horten) – 36 employees, NOK 31.8M sales, NOK -135,000 EBITDA.
- Sms Hotell Drift As (Horten) – 30 employees, NOK 9.8M sales, NOK 708,000 EBITDA.
Organizational forms:
- All four companies are AS companies.
- There are no companies in the industry with other organizational forms (e.g., AN or property associations).
Key points:
- Sms Hotell Drift As has the best EBITDA-per-employee ratio (NOK 19,500) in 2024.
- Grand Hotel Åsgårdstrand As has no sales or EBITDA, which may indicate an economic challenge.
Business Geography
Distribution of hotel activity in Horten municipality:
| District | Number of companies | Employees | Sales (NOK) | EBITDA (NOK) |
|---|---|---|---|---|
| Horten | 3 | 109 | 84.6M | 772,000 |
| Åsgårdstrand | 1 | 53 | 0 | 0 |
Key points:
- Horten is the main center for hotel activity, with three companies and 109 employees.
- Åsgårdstrand has one company (Grand Hotel Åsgårdstrand As), but it had no sales or EBITDA in 2025.
- Horten has a higher average sales per employee (NOK 776,000) compared to Åsgårdstrand (0).
Business Dynamics
Bankruptcies and economic challenges:
- None of the four companies in the hotel industry in Horten are registered as bankrupt in 2025.
- Rs Noatun As had a negative EBITDA of NOK -135,000 in 2024, which may indicate economic challenges.
- Grand Hotel Åsgårdstrand As has no sales or EBITDA, which may be an indication of a weak position in the market.
Key points:
- Although no bankruptcies are registered, some companies' financial data indicate a certain degree of instability.
- Sms Hotell Drift As has the best EBITDA-per-employee ratio (NOK 19,500) in 2024, which may indicate efficient operations.
Outlook
Outlook for entrepreneurs
Opportunities and challenges:
- The hotel industry in Horten has proven to be resilient, with a strong sales increase after 2022 (47.0% in 2022 and 18.6% in 2023).
- However, there is a sales decline in 2025 (-11.9%), which may indicate increasing bankruptcies or weaker demand.
- Entrepreneurs should consider focusing on efficient operations and differentiation to compete with existing companies.
- It is also possible to leverage the broader accommodation industry in Horten, which includes camping and short-term cabins, to create a more diversified offering.
Recommendation:
- Entrepreneurs should consider thoroughly analyzing competitors and focusing on achieving a positive EBITDA-per-employee ratio, as Sms Hotell Drift As achieved in 2024 (NOK 19,500).
Outlook for the Accommodation Industry
Comparison between the hotel industry and the accommodation industry in Horten:
| Category | Hotel Industry | Accommodation Industry |
|---|---|---|
| Number of companies | 4 | 11 |
| Sales (2025) | NOK 72.8M | NOK 109.2M |
| Employees (2025) | 147 | 177 |
| Annual sales change (2025) | -11.9% | -2.3% |
Peer companies in the accommodation industry (non-hotels):
| Name | Address | Sales (NOK) | Employees | EBITDA (NOK) |
|---|---|---|---|---|
| Embra Omsorg As Avd Horten | Langmyra 2, 3185 Skoppum | 31.2M | 25 | 4.7M |
| Tretopphytter Oslofjord As | Veggeveien 19, 3180 Nykirke | 4.2M | 0 | 258,000 |
| Løvøya Drift As | Løvøyveien 54, 3189 Horten | 2.0M | 0 | 115,000 |
| Explore Event As | Adalsveien 21B, 3185 Skoppum | 0 | 0 | 0 |
| Norsk Bobil Og Caravan Club Avdeling Vestfold | Steinbrygga 30, 3184 Borre | 0 | 0 | 0 |
| Norsk Grend As | Langmyra 2, 3185 Skoppum | 0 | 0 | 0 |
| Rørestrand Camping Drift As | Parkveien 34, 3186 Horten | 0 | 10 | 0 |
Key points:
- The accommodation industry has more companies (11) and higher sales (NOK 109.2M) compared to the hotel industry (NOK 72.8M) in 2025.
- The most profitable peer companies in the accommodation industry are Embra Omsorg As Avd Horten (NOK 4.7M EBITDA) and Tretopphytter Oslofjord As (NOK 258,000 EBITDA).
Other companies in overnatting (not in hotel)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Embra Omsorg As Avd Horten | short stay apartments | Langmyra 2, 3185 Skoppum | NOK 31.2M | 25 | NOK 4.7M |
| Tretopphytter Oslofjord As | short stay cabins | Veggeveien 19, 3180 Nykirke | NOK 4.2M | 0 | NOK 258.0K |
| Løvøya Drift As | camping | Løvøyveien 54, 3189 Horten | NOK 2.0M | 0 | NOK 115.0K |
| Explore Event As | short stay cabins | Adalsveien 21B, 3185 Skoppum | NOK 0 | 0 | NOK 0 |
| Norsk Bobil Og Caravan Club Avdeling Vestfold | camping | Steinbrygga 30, 3184 Borre | NOK 0 | 0 | NOK 0 |
| Norsk Grend As | camping | Langmyra 2, 3185 Skoppum | NOK 0 | 0 | NOK 0 |
| Rørestrand Camping Drift As | camping | Parkveien 34, 3186 Horten | NOK 0 | 10 | NOK 0 |
Conclusion
The hotel industry in Horten has proven to be part of a larger accommodation industry with 11 companies and higher sales (NOK 109.2M) in 2025. The four companies in the hotel industry have combined sales of NOK 72.8M and 147 employees, with an annual decline of 11.9% in 2025. Sms Hotell Drift As has the best EBITDA-per-employee ratio (NOK 19,500) in 2024, which may indicate efficient operations.
Entrepreneurs should consider focusing on efficient operations and differentiation to compete with existing companies. It is also possible to leverage the broader accommodation industry in Horten, which includes camping and short-term cabins, to create a more diversified offering.
SmartGrunder can help entrepreneurs find suitable addresses in Horten for the hotel industry, based on natural conditions and market potential.