The Hotel Industry in Nordre Follo: Current Status and Outlook

The hotel industry in Nordre Follo has shown both strength and uncertainty in recent years. There are 3 companies registered in the municipality, with a total salary expense of NOK 38.2 million and a combined operating income of NOK 121.4 million. Employee numbers have been volatile, with a significant increase in 2020 (from 38 to 93 employees) and a decline in 2025 (to 106 employees). The industry has an average EBITDA margin of 11%, with large variations between companies. The broader accommodation sector (including hotels, cabins, and camping) has 10 companies in the municipality, showing that hotels are part of a larger market.

Economic Trends

Sales and employees have shown large variations:

Highest sales achieved in 2022 (114.3M NOK), but with a sharp decline in 2025 (-36.4%). Employee numbers had a sharp increase in 2020 (from 38 to 93 employees) before a decline in 2021 and 2025. EBITDA margins vary significantly: Sørmarka As had 18%, while Thon Hotel Ski had 6%. Gjedsjø Gaard B&B had 0% due to lack of operational activity.

Operational Results

• Sørmarka As (Siggerud): Operating income of 52.9M NOK, EBITDA of 9.9M NOK, operating margin of 9%.
• Thon Hotel Ski (Ski): Operating income of 68.5M NOK, EBITDA of 4.5M NOK, operating margin of 2%.
• Gjedsjø Gaard B&B (Ski): No operational activity.

Registered Companies

There are 3 companies in the hotel industry in Nordre Follo:

1. Sørmarka As (Siggerud)

• Organizational form: AS
• Founded: 2000-12-27
• Employees: 67
• Operating income: 52.9M NOK
• EBITDA: 9.9M NOK
• Operating margin: 9%

1. Thon Hotel Ski (Ski)

• Organizational form: AS
• Founded: 2003-08-01
• Employees: 41
• Operating income: 68.5M NOK
• EBITDA: 4.5M NOK
• Operating margin: 2%

1. Gjedsjø Gaard B&B (Ski)

• Organizational form: ENK
• Founded: 2017-11-08
• Employees: 0
• Operating income: 0 NOK
• EBITDA: 0 NOK

Organizational Forms

• AS (2 companies): 108 employees, operating income of 121.4M NOK, EBITDA of 14.4M NOK.
• ENK (1 company): 0 employees, operating income of 0 NOK, EBITDA of 0 NOK.

Distribution by Sub-District

The hotel industry is distributed across two sub-districts in Nordre Follo:

Siggerud has a higher EBITDA margin (18%) compared to Ski (6%). Sørmarka As, the only company in Siggerud, has an operating margin of 9%, while Thon Hotel Ski in Ski has an operating margin of 2%. Gjedsjø Gaard B&B in Ski has no operational activity.

Operational Efficiency and Bankruptcy Statistics

None of the registered companies in the hotel industry have gone bankrupt in the municipality. However, data shows greater variations in operational results:

• Sørmarka As (Siggerud): Highest operating income (52.9M NOK) and EBITDA (9.9M NOK), but with negative sales growth in 2025 (-36.4%).
• Thon Hotel Ski (Ski): Highest sales (65.3M NOK), but low EBITDA margin (6%) and negative sales growth in 2025 (-36.4%).
• Gjedsjø Gaard B&B (Ski): No operational activity.

Bankruptcy risk is low, but greater uncertainty in 2025 due to a decline in sales and operational results.

Outlook for Entrepreneurs

The hotel industry in Nordre Follo has shown strength in 2022, with a sales growth of 109.7% compared to 2021. However, the industry has greater uncertainty in 2025, with a decline of 36.4% in sales and -1.9% in employee growth. For entrepreneurs, the following may be important:

• Siggerud has a higher EBITDA margin (18%) compared to Ski (6%), which could be an advantage for new companies.
• Thon Hotel Ski has the highest sales (65.3M NOK), but a low EBITDA margin (6%), which could indicate high costs.
• Gjedsjø Gaard B&B has no operational activity, which could be an opportunity for new companies in the area.

SmartGrunder can help entrepreneurs find suitable addresses and assess potential market opportunities in the municipality.

The broader accommodation industry in Nordre Follo has 10 companies, while the hotel industry has 3 companies. Economic trends show that the accommodation industry has a higher sales growth in 2022 (106.1%) compared to the hotel industry (109.7%). Employee development is similar in both industries, with a larger increase in 2020 (from 36 to 93 employees in the accommodation industry and from 38 to 93 employees in the hotel industry).

Peer Companies in the Accommodation Industry

The accommodation industry also includes short-term cabins and camping, which could provide diversification for entrepreneurs. EBITDA for peer companies is low, with many companies having 0 NOK.

The hotel industry in Nordre Follo has shown both strength and uncertainty in recent years. With 3 companies and a total operating income of 121.4M NOK, the industry is relatively small, but with high EBITDA margins in some companies. Outlooks are uncertain, with a larger decline in 2025. For entrepreneurs, Siggerud may be a better location due to a higher EBITDA margin compared to Ski. SmartGrunder can help find suitable addresses and assess market opportunities in the municipality.