Buying a Hotel in Finland: Complete Guide and Checklist

Published on May 1, 2026 and written by Cyril Jarnias

Buying a Hotel in Finland: Complete Checklist

Buying a hotel in Finland can be an exciting and lucrative adventure, provided you are well-prepared. This guide offers a complete checklist to support you in this process, highlighting the essential aspects to consider.

From understanding the Finnish real estate market to the specifics of local legislation and the nuances of financing, each step is crucial for the success of your project.

Enjoy the country’s breathtaking landscapes, stunning northern lights, and a thriving tourism industry, while this checklist guides you through every strategic decision, ensuring a successful acquisition that meets your investment goals.

Overview of the Hotel Market in Finland

The Finnish hotel market is experiencing sustained growth in 2025, driven by the recovery of international tourism and stable domestic demand. Finland recorded 1.47 million overnight stays in April 2025, including 1.15 million domestic travelers and 310,000 international visitors, an increase of 3% compared to 2024. Overnight stays by foreign tourists rose by 14% year-on-year, confirming the recovery momentum.

Recent Statistics (2024-2025)

Indicator	Value (2024/2025)
Number of tourist establishments	1,364 (December 2024)
Number of rooms in Helsinki	13,000 (October 2024)
Average occupancy rate (May 2025)	53%
Average room price (June 2025)	€126.34
Total overnight stays (April 2025)	1.47 million
Growth in foreign overnight stays (April 2025)	+14%

Regions with High Tourist Concentration

• Uusimaa (Helsinki and its region): 490,000 overnight stays in April 2025, making it the busiest region, with a high proportion of international visitors and an expanding hotel stock.
• Lapland: 210,000 overnight stays, including a 20% increase in foreign visitors, thanks to the appeal of nature and winter tourism. Average rates are the highest here (€140/night), reflecting strong seasonal demand.

Factors Influencing Demand

• Domestic tourism: Represents the majority of overnight stays, with stable demand.
• International tourism: Growing strongly, particularly thanks to the Swedish, German, and American markets.
• Seasonal events: The high season in Lapland (winter) and Helsinki (summer, cultural events) generates peaks in visitor numbers.
• Government policies: Support for the hotel sector through measures promoting sustainable tourism and investment incentives.

Investor Profile and Acquisition Strategies

• Typical investors:
  • Nordic and international real estate funds.
  • European hotel groups.
  • Institutional investors seeking stable diversification.
• Acquisition strategies:
  • Targeting establishments in major cities and tourist hubs (Helsinki, Lapland).
  • Prioritizing new or renovated assets focused on energy sustainability.
  • Seeking partnerships with local or international operators to optimize occupancy and profitability.

Projections and Economic Trends

Sector growth is expected to continue, driven by the anticipated rise in international tourism and the development of new hotel capacity, particularly in Helsinki and Lapland. Public policies favor the growth of sustainable tourism and the upscaling of establishments, strengthening the market’s attractiveness for long-term investors.

Key Summary
Finland confirms its position as a dynamic tourist destination in Northern Europe, with solid growth in the hotel sector, an offer concentrated in the Helsinki and Lapland regions, and an attractive market for institutional investors betting on stability and innovation.

Essential Steps for Acquiring a Hotel in Finland

1. Preliminary Research and Study of the Finnish Hotel Market

• Analyze local and seasonal tourist demand, customer typology (business, leisure, international tourism), and existing competition.
• Evaluate market growth, average hotel sector profitability, and trends (digitalization, sustainability, cultural preferences).
• Examine investment opportunities through traditional or innovative methods like real estate crowdfunding.

2. Selection Criteria: Location and Hotel Type

• Choose a strategic location: city center, proximity to transport, tourist or economic hubs.
• Determine the type of hotel: independent hotel, chain, boutique hotel, aparthotel, inn, etc.
• Consider the quality of the infrastructure, the condition of the building, and the potential for evolution (renovation, expansion).

Selection Criteria	Importance
Location	Proximity to attractions, transport, business districts
Customer Typology	Business, leisure, groups, international tourism
Growth Potential	Possibilities for expansion, renovation, diversification of offerings
Compliance with Standards	Safety, accessibility, environment, hygiene

3. Due Diligence and Preliminary Checks

• Verify the legality of the property: title deed, absence of mortgages or ongoing disputes.
• Examine contracts related to operations: maintenance, personnel, suppliers, business partners.
• Ensure all operating permits and licenses are up to date.

4. Administrative and Legal Procedures

• For foreigners, check the need for specific authorizations (especially outside the EU/EEA).
• Obtain a Finnish personal identification number (mandatory for notarial formalities).
• Use a notary for signing the purchase deed and registering the transaction.
• Comply with national and local regulations: fire safety, accessibility, sanitary standards, hotel classification.

5. Licenses and Permits to Obtain

• Hotel operating license.
• Restaurant or liquor license if associated services are provided.
• Compliance with obligations regarding safety, hygiene, and accessibility for people with reduced mobility.

6. Financing and Purchase Negotiation

• Plan for a personal contribution (generally 10 to 30% of the acquisition price).
• Seek local bank financing (Finnish banks often finance up to 70-80% of the amount).
• Prepare a solid file: business plan, market study, financial projections.
• Negotiate the purchase price, payment terms, and any contingency clauses.
• Consider using real estate crowdfunding as a complementary lever.

7. Cultural and Linguistic Aspects

• The main language for procedures is Finnish; English is commonly used in the hotel sector, but some official documents remain in Finnish or Swedish.
• Consider local expectations regarding hospitality, personnel management, and customer service.
• Surround yourself with local professionals (lawyer, notary, accountant, hospitality expert) to facilitate the process.

8. Specific Regulations in Finland

• Obligation to comply with strict standards regarding ecology and sustainable development.
• Regulations on waste management, energy, and water.
• Obligations regarding fire safety and universal accessibility.

List of Key Documents and Procedures:

• Profitability analysis and market study
• Verification of title deed and associated contracts
• Obtaining a Finnish identification number
• Opening a local bank account
• Notarial signing of the purchase deed
• Application for licenses and operating permits
• Putting together the financing file
• Compliance with local standards and regulations

Specific Points of Vigilance:

• Seasonal market with significant occupancy variation depending on the time of year.
• Demanding administrative process and documentation often in Finnish.
• Importance of integrating environmental and safety standards.

The Importance of Due Diligence in Hotel Real Estate

Due diligence in hotel real estate is a process of in-depth analysis aimed at securing and optimizing the investment. It helps identify risks, validate legal and regulatory compliance, and assess the hotel’s financial potential before any acquisition.

Main Objectives:

Assessment of Financial Viability:

• Analysis of balance sheets, financial results, cash flow.
• Verification of tax obligations (VAT, corporate tax) to avoid any risk of reassessment or hidden debts.
• Review of declared revenue to ensure the accuracy of accounts.

Analysis of Local Market Data:

• Study of the average occupancy rate in the area.
• Comparison with competitor performance (ADR – Average Daily Rate, RevPAR).
• Identification of tourism trends in Finland and anticipation of future projections.

Legal and Regulatory Review in Finland:

• Verification of compliance with local and national urban planning standards.
• Check of the land title with the Finnish real estate register.
• Validation that all necessary administrative authorizations are obtained (hotel licenses, fire safety, etc.).

Potential Risks of Insufficient Due Diligence:

• Post-acquisition discovery of unresolved legal disputes or easements encumbering the property
• Existence of hidden mortgages or defects in the chain of title
• Non-compliance with health or safety standards leading to administrative closure
• Obvious overvaluation of economic potential leading to lower-than-expected profitability

Concrete Example	Description
Technical Inspection	Complete structural audit: general building condition, electrical/plumbing/heating systems
Title Deed Verification	Check for absence of mortgages/easements; validity of cadastral documents
Reputation Assessment	Analysis of online customer reviews; management history; study of business partnerships
Income Potential	Simulation of financial projections under different scenarios

Practical Tips for Buyers in Finland:

Before the Acquisition:

• Rely on a local law firm specialized in Finnish real estate law
• Have a technical audit carried out by an accredited independent engineer
• Mandate an accountant to analyze financial statements and prior taxes

During the Process:

• Request all documents related to the land title from the national real estate register (“Maanmittauslaitos”)
• Consult the local municipality regarding required permits (renovation/extension/operation)

After Potential Acquisition:

Plan for regular post-acquisition audits to anticipate any regulatory changes

Recommended Specialized Resources/Consultants:

• Lawyers specialized in Finnish real estate law
• Approved technical firms for building inspection
• Local accountants with hospitality experience
• International real estate agencies active in the Nordic hotel market

Analysis of the Tourism Sector in Finland and Its Impact on Hospitality

The evolution of the tourism sector in Finland is characterized by sustained growth, a diversification of offerings, and increased attention to sustainability and customer experience.

Main Trends and Recent Statistics:

• Tourist arrivals averaged 191,494 per month between 1995 and 2025, with a historical peak of 423,155 in July 2017. After the pandemic shock (3,596 arrivals in April 2020), the recovery has been gradual, reaching 209,597 arrivals in May 2025, compared to 148,904 in April.
• In 2023, the country recorded 23 million overnight stays, an increase of 4% compared to the previous year. The strongest growth was among foreign tourists (+16%), while the domestic market remained stable.
• The sector experienced a slowdown in spring 2025: 5 million domestic leisure trips with overnight stays from January to April, down a fifth compared to the same period in 2024. Trips abroad and paid overnight stays also decreased.

Year	Tourist Arrivals/Month	Total Overnight Stays (millions)	Foreign Overnight Stays (millions)
2017 (July)	423,155	—	—
2019	—	—	7.0
2023	—	23.0	—
May 2025	209,597	—	—

Impact on the Hotel Market:

• The occupancy rate shows marked seasonal variations, with peaks in summer (especially July-August) and winter in the Arctic regions, linked to attractions such as the northern lights and Christmas markets.
• The most attractive regions are Lapland (winter, nature tourism, and Arctic experiences), Helsinki and its metropolitan area (business, culture, events), the lakes, and the coast (summer, outdoor tourism).
• In 2023, a third of overnight stays were generated by international clientele, making the sector sensitive to fluctuations in source markets and visa policies.

Influence of International Events and Government Policies:

• Major international events (conferences, trade fairs, sporting events) stimulate hotel demand, particularly in Helsinki and major cities.
• Government policies favor sustainable development, infrastructure improvement, and promoting Finland as a safe and innovative destination. Finland regularly ranks among the safest countries in the world, enhancing its attractiveness to international tourists.
• Public and private investments in hospitality (renovation, digitalization, alternative accommodations) strengthen the sector’s competitiveness.

Concrete Examples and Case Studies:

• The success of holiday villages in Lapland illustrates the sector’s ability to capitalize on international demand for “nature” and “authentic” experiences. Glass hotels for viewing the northern lights are often fully booked in winter.
• The stability of business tourism in Helsinki, even during periods of decline in leisure travel, shows the importance of customer diversification for hotel profitability.
• Challenges include dependence on seasonality, pressure on local resources, and the need to adapt offerings to new expectations (eco-responsibility, digitalization, personalization of services).

Opportunities and Challenges for Hotel Investment:

• Opportunities: growing market, strong international appeal, safe environment, public support for innovation, regional diversification.
• Challenges: seasonality, increased competition in some regions, sensitivity to international crises, adaptation to new ecological and technological requirements.

Essential Information for Buying a Hotel in Finland:

• Prioritize regions with high seasonal appeal (Lapland, Helsinki) or those developing tourism.
• Anticipate variations in occupancy rates depending on the season and diversify the clientele (leisure, business, international markets).
• Integrate sustainability and innovation criteria to meet customer expectations and regulatory requirements.
• Monitor public policies and international trends that may impact tourist flows (visas, promotion, security).

Key Takeaway:
The Finnish hotel market offers solid prospects, particularly in areas with high seasonal appeal and among international clienteles. Active monitoring of trends, policies, and traveler expectations is essential to optimize the investment.