Key Market Indicators
Latvian hotel occupancy rate fell to 18.6% in November 2021, down from 27.8% in October 2021. Compared to the same period a year earlier, this is a decrease of 15.2%. The occupancy rate in Latvia is one of the lowest in Europe. Hotel rooms in Latvia are expected to reach 13,330 by 2026, up 0.7% year on year. Since 1998, the supply of hotel rooms has decreased by 0.7% year on year. In 2021, Latvia ranked 32nd for available hotel rooms, behind Iceland with 12,390. The United Kingdom, Germany and Spain had the most rooms with 2, 3 and 4 in the ranking, respectively.