Citybox Hotels Plans Major Expansion, Doubling Revenue with Six New Properties, Including Tromsø's Largest Hotel
🏨 Eivind Hjulstad, CEO of Citybox Hotels, shared insights from Bergen, Norway, about the chain's growth since 2006 to nine properties across six countries. By 2027, Citybox aims to double its footprint, including a 351-room hotel in Tromsø, the largest in northern Norway. Citybox's budget model leverages Scandinavian design and self-service check-in, achieving staff costs around 15% of revenue. The strategy resists industry norms, targeting cost-effective, value-conscious travelers. This surge anticipates a doubling of revenue from 500 million NOK.
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