The Hotel Industry in Oslo: Key Data, Development, and Outlook

The hotel industry in Oslo is an important part of the municipality's economy, with 170 registered companies and over 5,400 employees in 2025. The industry has shown strong resilience after the pandemic, with a significant decline in 2020 (–56.8% in sales) that was offset by strong growth from 2021 onward. Key players such as Oslo Plaza Hotel and Scandic Holmenkollen Park have shown good results, while other companies such as Thon Holding Avd Oslo have negative EBITDA margins. SmartGrunder can help entrepreneurs find suitable addresses in Oslo for this industry.

The hotel industry in Oslo has had a dynamic development in recent years. The sales surplus had a significant decline in 2020 (NOK 1,527 million) due to the pandemic, but has since grown by 4.6% in 2025 (NOK 5,255 million). Employees have also grown from 3,083 in 2021 to 5,807 in 2026. The average EBITDA margin is 5%, with variations between companies. For example, Oslo Plaza Hotel had an EBITDA margin of 33%, while Thon Holding Avd Oslo had a negative margin of –11%.

In Oslo, there are 170 companies registered in the hotel industry, but only 16 of these are detailed in the data. The most important company forms are AS (94 companies) and STI (3 companies). Examples of well-known companies include:

• Sommerrogata Hotelldrift AS (385 employees, EBITDA: –NOK 3.8 million)
• Thon Holding Avd Oslo (360 employees, EBITDA: –NOK 96.9 million)
• Oslo Plaza Hotel AS (252 employees, EBITDA: NOK 178.1 million)
• Scandic Holmenkollen Park AS (152 employees, EBITDA: NOK 39.3 million)

Most companies have positive results, but some have negative EBITDA values that may indicate economic challenges.

The hotel industry in Oslo is concentrated in the municipality's central areas. The data show that all 97 companies and 6,028 employees are located in Oslo, with no distribution to other districts or municipalities. There is no information about specific geographic clusters, but it is likely that companies are located in tourist and cultural historical centers such as Karl Johans gate, Storgata, and Holbergs gate.

The hotel industry in Oslo has proven to be relatively stable in terms of bankruptcy. None of the listed companies have gone bankrupt, even though some have negative EBITDA values. For example, Thon Holding Avd Oslo had an EBITDA of –NOK 96.9 million, and Hotel Bristol had an EBITDA of –NOK 196,000. This may indicate that some companies have economic challenges, but there is no registered bankruptcy in the industry.

For entrepreneurs in the hotel industry in Oslo, it is important to note the increasing sales and the growth in the number of employees. The industry has shown strong adaptability after the pandemic, with a growth of 4.6% in 2025. This indicates that there is potential for new companies, especially in areas with high tourist activity. However, the competition is high, and it is important to focus on efficient operations and high quality to ensure profitability.

When comparing the hotel industry to the broader accommodation industry (accommodation), the data show that accommodation has more companies (309) and higher sales (NOK 5,971.8 million in 2025). However, the hotel industry has a better average EBITDA margin (5%) compared to accommodation (not provided). Examples of accommodation companies that are not hotels include camping and student housing companies such as Bogstad Camping and Anker Studentboliger. This may provide entrepreneurs with opportunities to diversify within accommodation, if desired.

The hotel industry in Oslo has proven to be a stable and growth-oriented sector with potential for new companies. With a strong recovery after the pandemic and a growth of 4.6% in 2025, it is clear that the industry has adaptability. Entrepreneurs should consider locating companies in central areas with high tourist activity and focus on efficient operations to ensure profitability. SmartGrunder can help find suitable addresses and develop strategies to compete in this dynamic market segment.