The Hotel Industry in Ringerike: Current Status and Future Prospects

The hotel industry in Ringerike is an important part of the municipality's economy, with a clear focus on Hønefoss as the main area for activity. In 2025, there are 9 companies in the industry, with a total of 221 employees. The economic development has been variable, but shows a strong decline after 2020 and a gradual increase since 2022. The industry is dominated by AS companies (5 companies) and one ANS, with a mix of established businesses and newer companies. The most significant companies are Klækken Hotell and Hønefoss Hotelldrift, which together account for a significant portion of the industry's total revenue. There are no bankrupt companies in the industry, but some businesses show negative EBITDA or zero revenue, which may indicate operational challenges.

Economic Trends

• Revenue: The industry had revenue of NOK 120.1 million in 2025, with an annual growth of +8.7% compared to 2024. There has been a gradual increase since 2020, although there was a sharp decline of -24.4% in 2020 due to the pandemic.
• Employees: The number of employees has increased from 138 in 2021 to 232 in 2026, with a rise of +75% over five years. The most significant increase occurred between 2022 and 2023, with +19.3%.
• Margins: The average gross profit is 83%, while the operating margin is 7%. The most profitable companies have EBITDA margins of 17% (Hønefoss Hotelldrift) and 10% (Klækken Hotell).

Key Players in the Industry

• Klækken Hotell AS (Hadelandsveien 386, Hønefoss): 92 employees, NOK 62.1 million revenue, EBITDA of NOK 6.6 million.

• Hønefoss Hotelldrift AS (Kongens gate 3, Hønefoss): 24 employees, NOK 32.0 million revenue, EBITDA of NOK 5.8 million.
• Skigaarden Servering AS and Løvlia AS have reported zero revenue and EBITDA, which may indicate operational challenges or recent establishment.
• Hemag AS and Kastet Eiendom AS have negative EBITDA, but no employees, which may indicate specialization in property services or property management without direct guest offerings.

Geographic Distribution

• Hønefoss is the only area in Ringerike with activity in the hotel industry, with 6 companies and 210 employees. Key economic figures for Hønefoss:
• Revenue: NOK 122.8 million
• Operating profit: NOK 9.2 million
• EBITDA: NOK 14.1 million
• Gross profit: 83%
• There is no activity in other parts of Ringerike, which shows a clear concentration of hotel operations in Hønefoss.

Operational Efficiency and Bankruptcies

• Bankruptcies: There are no registered bankrupt companies in the hotel industry in Ringerike.
• Vulnerable companies: Skigaarden Servering AS, Løvlia AS, Hemag AS, and Klækken Hotell AS have reported zero revenue or negative EBITDA, which may indicate operational challenges or recent establishment. This should be carefully considered by new entrants.
• Stable companies: Klækken Hotell and Hønefoss Hotelldrift have high EBITDA margins and stable revenue, which demonstrates good operational efficiency.

Outlook for Entrepreneurs

The hotel industry in Ringerike shows signs of gradual recovery after a sharp decline in 2020. With +8.7% annual revenue growth and +5.0% growth in the number of employees in 2025, it may be an attractive market opportunity for new entrants. Hønefoss is the only area with activity, which provides opportunities to fill established market positions. However, it is important to be aware of operational challenges, as indicated by some companies' negative EBITDA or zero revenue. New businesses should consider differentiation, quality, and adaptation to local needs to compete with established players such as Klækken Hotell and Hønefoss Hotelldrift.

Comparison with Accommodation

• Accommodation (parent category) has 22 companies in Ringerike, compared to 9 companies in the hotel industry. This shows that accommodation includes more subcategories, such as camping and short-term cabins.
• Revenue: Accommodation had NOK 120.1 million in 2025, while the hotel industry had NOK 120.1 million. This shows that the hotel industry is a significant part of accommodation, but not the only one.
• Peer companies: Examples of accommodation companies that are not hotels:
• Buttingsrud Camping AS (camping): NOK 0 revenue, NOK 0 EBITDA.
• CBA 100 AS (camping): NOK 924,000 revenue, NOK -2.5 million EBITDA.
• Dalen & Tangen Utleie (short-term cabins): NOK 0 revenue, NOK 0 EBITDA.
• Conclusion: Accommodation includes both hotels and alternative accommodation forms, which provides opportunities for collaboration or differentiation for hotel businesses in Ringerike.

The hotel industry in Ringerike shows a gradual recovery after a sharp decline in 2020, with stronger operational results in 2023–2025. Hønefoss is the only area with activity, which provides opportunities to develop market positions in the municipality. New entrants should consider operational efficiency, differentiation, and local needs. SmartGrunder can help entrepreneurs find suitable addresses in Ringerike for hotel operations, based on nature and development trends.