The Hotel Industry in Vågan: Key Data, Companies, and Outlooks

The hotel industry in Vågan is an important part of the municipality's economy, with 16 registered companies and total revenue exceeding NOK 369 million in 2025. The industry has shown both strength and uncertainty over the years, with a significant increase in revenue after 2020 and stabilization in the number of employees. The broad accommodation company group (including camping and cabins) has an even greater presence in the municipality, which could provide a basis for diversification and collaboration.

Economic Trends

Revenue and Employees:

Revenue experienced a sharp increase from 2020 to 2022 (+57.4%), but has since shown a more gradual development. The number of employees increased significantly in 2022 (+52.1%), which may be due to the development of new hotels or expansion of existing companies. In 2025, revenue is NOK 369.2 million, an increase of 14.9% from 2024.

Companies in the Industry

Vågan has 16 registered hotel companies, 12 of which are organized as AS. The most well-known companies include:

• Thon Hotel Lofoten (Svolvær): 139 employees, revenue of NOK 154.0M
• Trevarefabrikken As (Henningsvær): 59 employees, revenue of NOK 28.9M
• Anker Brygge As (Svolvær): 51 employees, revenue of NOK 33.6M

Some companies have special characteristics, such as Scandic Svolvær and Henningsvær Bryggehotell, which had zero revenue and employees in 2024. This may indicate that they are in the startup phase or have encountered operational challenges.

Geographic Distribution

The hotel industry is most concentrated in Svolvær, where there are 6 companies and 330 employees. Henningsvær and Kabelvåg also have significant activity, but with fewer companies. Comparison of key indicators:

Svolvær clearly holds a leading position, but Henningsvær and Kabelvåg have higher EBITDA margins in some cases.

Operational Efficiency and Risk

The hotel industry in Vågan has no registered bankruptcies, which shows relative stability. However, some companies show negative EBITDA values, such as Lofoten Island Lodge As (-351K NOK) and Finnholmen Brygge As (-163K NOK). This may indicate economic challenges, but not necessarily bankruptcies. The most profitable companies have EBITDA margins up to 6%, such as Anker Brygge As.

Outlook for Entrepreneurs

The hotel industry in Vågan shows potential for growth, especially after 2022. The increase in revenue and number of employees indicates increased tourist activity and demand for accommodation. Entrepreneurs should, however, be aware of the variable EBITDA margins and competition from both existing hotels and other accommodation companies. It may be beneficial to focus on differentiation, such as cultural offerings or sustainable solutions.

The broader accommodation company group in Vågan (including camping and cabins) has 60 companies, showing that the hotel industry is part of a larger sector. Comparison of key data:

The most profitable companies in the accommodation sector include Svinøya Rorbuer As (short-term cabins) with an EBITDA of NOK 3.7M and Skårungen As (short-term cabins) with an EBITDA of NOK 1.8M. This shows that camping and cabins can be a competitive sector for hotels.

The hotel industry in Vågan has shown both strength and uncertainty over the years, but has overall been in growth. With revenue exceeding NOK 369 million in 2025 and a stable number of employees, there is potential for further development. Entrepreneurs should, however, be aware of the competition from both existing hotels and other accommodation companies. SmartGrunder can help find suitable addresses in the municipality for new hotels, based on local conditions and market needs.