The Hotel Industry in Vestvågøy: Companies, Statistics, and Outlooks

The hotel industry in Vestvågøy is an important part of the municipality's economy, with 13 registered companies and a mix of established businesses and newer initiatives. The most actively operating companies are located in Leknes, Bøstad, and Ballstad, with an average profit margin of 69% and an EBITDA margin of 10%. The industry has experienced both strong growth and challenges, especially after 2020, and shows a mix of stable businesses and recently started companies with uncertain revenues. SmartGrunder can help entrepreneurs find suitable addresses in Vestvågøy for this industry.

Economic Trends

The hotel industry in Vestvågøy has shown a complex development in recent years. The sales surplus has increased from 14.4 million NOK in 2016 to 63.7 million NOK in 2024, before declining to 56.6 million NOK in 2025. The development of the workforce has been more variable, with a peak of 146 employees in 2023 and a decline to 108 employees in 2025. This shows fluctuations in the industry's capacity and the need for adaptation to market conditions.

Key Figures in Table Form

Development in Percent

• Sales: Largest growth from 2017 to 2018 (+72.8%), but a decline in 2025 (-11.1%).
• Number of Employees: Largest growth from 2021 to 2022 (+12.1%), but a decline in 2024 (-15.8%).

Registered Companies

In Vestvågøy, there are 13 companies registered in the hotel industry. The most well-known companies include:

• Lofoten Hotelldrift As (Leknes) – 43 employees, 26.4 million NOK in sales.
• Hattvika Lodge As (Ballstad) – 31 employees, 31.8 million NOK in sales.
• Unstad Arctic Surf As (Bøstad) – 24 employees, 14.4 million NOK in sales.

Organizational Forms

Most companies are organized as AS (5 companies), with an average profit margin of 69% and an EBITDA margin of 10%. There are also registered companies with 0 employees and 0 sales, such as Ure Lodge As and Fjelljo As, which may be newly started or in a transitional phase.

Distribution of Business

The hotel industry is most concentrated in Leknes, Bøstad, and Ballstad, with the following development:

Leknes and Bøstad have the most stable businesses, while Ballstad and Sennesvik show more variable development. Sennesvik has no activity in 2025, which may indicate a temporary decline or a recent start.

Stability and Dynamics

The hotel industry in Vestvågøy has not registered any bankruptcies in recent years, showing relative stability. However, there are several companies with 0 sales and 0 employees, such as Fjelljo As and Ure Lodge As, which may indicate a temporary decline or a recent start. This shows a mix of established businesses and companies in a transitional phase. There are no indications of major bankruptcies, but it is important to monitor the development of these companies.

The hotel industry in Vestvågøy shows both opportunities and challenges for new entrepreneurs. With strong sales growth up to 2024 and a decline in 2025, it may be a good time to establish oneself in areas with high activity, such as Leknes and Bøstad. However, it is important to be aware of companies with uncertain revenues, which may affect market conditions. There are also opportunities to develop within a broader accommodation context, including camping and short-term cabins.

Broader Accommodation Context

The hotel industry is part of the broader accommodation group in Vestvågøy, which includes camping, short-term cabins, and other accommodation. This group has 58 companies, with a higher sales volume (117.1 million NOK in 2024) compared to the hotel industry. The key figures show that the accommodation context has more stable growth, with an increase from 97.9 million NOK in 2023 to 117.1 million NOK in 2024. This shows that the hotel industry can be part of a larger market key, with opportunities for collaboration and development in a broader context.

The hotel industry in Vestvågøy shows a mix of stable businesses and recently started companies, with strong growth up to 2024. The most actively operating companies are located in Leknes and Bøstad, with an average profit margin of 69% and an EBITDA margin of 10%. The industry is part of the broader accommodation context, which includes camping and short-term cabins, and shows potential for development in a more diversified market key. SmartGrunder can help entrepreneurs find suitable addresses in Vestvågøy for this industry.