Overnatting og servering
FollowDownload sector report (PDF)2,060 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology
Ranking · 2025 · Morning class Large
| # | Company | Score | Change |
|---|---|---|---|
| 1 | Hurtigruten Svalbard AS | 79 | +1 |
| 2 | Ess Support Services AS | 73 | +3 |
| 3 | Strawberry Services AS | 71 | +22 |
| 4 | Scandic Hotels AS | 71 | 0 |
| 5 | Hotelldrift CL the Hub AS | 64 | −11 |
| 6 | Zero Five AS | 50 | +2 |
| 7 | 4Service Landanlegg AS | 50 | −20 |
| 8 | Olivia AS | 47 | −4 |
| 9 | Compass Group Norge AS | 46 | −23 |
| 10 | Oslo Plaza Hotel AS | 42 | −3 |
| 11 | Espresso House Norge AS | 41 | +2 |
| 12 | Radisson Hotels Norway AS | 41 | −2 |
| 13 | Peppes Pizza AS | 40 | −13 |
| 14 | Cares Workplace Services AS | 35 | −4 |
| 15 | Select Service Partner AS | 27 | +13 |
| 16 | Thon Hotels AS | 22 | +3 |
The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode
Biggest moves · Morning class Large
- Compass Group Norge AS−23
From 2024 to 2025: the operating margin fell from 4.9% to 2.5%.
- Strawberry Services AS+22
From 2024 to 2025: revenue grew by 139% and the operating margin rose from 3.2% to 17.4%.
- 4Service Landanlegg AS−20
From 2024 to 2025: revenue fell by 17% and the operating margin rose from 13.7% to 16.5%.
- Select Service Partner AS+13
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from 0.3% to 3.8%.
Overnatting og servering, Morning class Large: 16 ranked companies in fiscal year 2025.
Best in the sector: Hurtigruten Svalbard AS (score 79, operating margin 9.5%, equity ratio 58.6%). Ess Support Services AS (score 73, operating margin 3.4%, equity ratio 57.6%). Strawberry Services AS (score 71, operating margin 17.4%, equity ratio 24.5%).
Weakest in the sector: Thon Hotels AS (score 22, operating margin −13.1%, equity ratio 21.3%). Select Service Partner AS (score 27, operating margin 3.8%, equity ratio 4.1%). Cares Workplace Services AS (score 35, operating margin 1.3%, equity ratio 14.0%).
Worth a closer look
- The median operating margin rose from 3.2% in 2024 to 4.7% in 2025 (1.5 percentage points).
- The median equity ratio rose from 19.5% in 2024 to 27.5% in 2025 (8.0 percentage points).
- The median revenue growth was about unchanged: 5.0% in 2024 and 5.0% in 2025.
- The share with a loss went from 12% in 2024 to 6% in 2025.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
Top lists in the sector · 2025 · Morning class Large
The five largest companies account for 65% of the sector's revenue. Combined profit before tax for the 16 ranked companies: 1,735 MNOK.
Highest revenue
- Scandic Hotels AS 6,735 MNOK
- Radisson Hotels Norway AS 2,533 MNOK
- Compass Group Norge AS 2,157 MNOK
- Select Service Partner AS 2,154 MNOK
- Strawberry Services AS 1,514 MNOK
Operating revenue.
Highest operating margin
- Oslo Plaza Hotel AS 29.8%
- Strawberry Services AS 17.4%
- 4Service Landanlegg AS 16.5%
- Hotelldrift CL the Hub AS 14.5%
- Hurtigruten Svalbard AS 9.5%
Operating result divided by operating revenue.
Largest profit
- Scandic Hotels AS 631 MNOK
- Strawberry Services AS 335 MNOK
- 4Service Landanlegg AS 144 MNOK
- Oslo Plaza Hotel AS 138 MNOK
- Hotelldrift CL the Hub AS 101 MNOK
Profit before tax.
Largest loss
- Thon Hotels AS −79 MNOK
Profit before tax, the largest negative.
Most solid
- Hurtigruten Svalbard AS 58.6%
- Ess Support Services AS 57.6%
- Scandic Hotels AS 38.1%
- Olivia AS 35.5%
- Zero Five AS 33.8%
Equity ratio: equity divided by total assets.
Fastest growth
- Strawberry Services AS +138.7%
- Ess Support Services AS +22.2%
- Hurtigruten Svalbard AS +17.4%
- Zero Five AS +16.3%
- Scandic Hotels AS +8.8%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- 4Service Landanlegg AS −16.9%
- Olivia AS −3.5%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- Strawberry Services AS +22.5 points
- Select Service Partner AS +13.1 points
- Ess Support Services AS +3.3 points
- Thon Hotels AS +3.1 points
- Zero Five AS +2.3 points
Change in index points from the year before.
Biggest fallers
- Compass Group Norge AS −23.1 points
- 4Service Landanlegg AS −19.8 points
- Peppes Pizza AS −12.6 points
- Hotelldrift CL the Hub AS −10.9 points
- Cares Workplace Services AS −4.1 points
Change in index points from the year before.
Most employees
- Scandic Hotels AS 5,425
- Compass Group Norge AS 4,338
- Select Service Partner AS 2,269
- Radisson Hotels Norway AS 1,504
- Zero Five AS 1,269
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Strawberry Services AS 5.1 MNOK
- Thon Hotels AS 3.9 MNOK
- Hurtigruten Svalbard AS 2.0 MNOK
- Oslo Plaza Hotel AS 1.9 MNOK
- Radisson Hotels Norway AS 1.7 MNOK
Only companies with at least 5 employees.
The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.
Positions in the sector · 2025 · Morning class Large
Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.
Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).
- Strawberry Services AS profitability 39 → 97, solidity 36 → 40
- Cares Workplace Services AS profitability 14 → 43, solidity 57 → 13
- Select Service Partner AS profitability 7 → 47, solidity 7 → 7
- Compass Group Norge AS profitability 54 → 20, solidity 71 → 60
- Hotelldrift CL the Hub AS profitability 93 → 87, solidity 79 → 47
Lion · LeaderHigh profitability, high solidity
Cheetah · SprinterHigh profitability, lower solidity
Elephant · StewardLower profitability, high solidity
Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
| Company | Profile | Profitability | Solidity |
|---|---|---|---|
| Strawberry Services AS | Cheetah | 97 | 40 |
| Hotelldrift CL the Hub AS | Cheetah | 87 | 47 |
| 4Service Landanlegg AS | Cheetah | 83 | 20 |
| Scandic Hotels AS | Lion | 77 | 87 |
| Oslo Plaza Hotel AS | Cheetah | 70 | 0 |
| Hurtigruten Svalbard AS | Lion | 67 | 100 |
| Peppes Pizza AS | Lion | 60 | 53 |
| Olivia AS | Lion | 57 | 80 |
| Select Service Partner AS | Beaver | 47 | 7 |
| Cares Workplace Services AS | Beaver | 43 | 13 |
| Ess Support Services AS | Elephant | 37 | 93 |
| Radisson Hotels Norway AS | Beaver | 27 | 33 |
| Zero Five AS | Elephant | 23 | 73 |
| Compass Group Norge AS | Elephant | 20 | 60 |
| Espresso House Norge AS | Elephant | 7 | 67 |
| Thon Hotels AS | Beaver | 0 | 27 |
Summary · fiscal year 2025 · Morning class Large
The sector's median operating margin is 4.7%. 0 of 17 companies have negative equity. The median equity ratio is 27.5%.
All figures are for fiscal year 2025. Ranked: 16 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
Climbers and fallers · Morning class Large
Change in rank from 2024 to 2025, for 14 companies ranked in both years.
Climbers
- 5Strawberry Services ASfrom rank 8 to 371
- 3Zero Five ASfrom rank 9 to 650
- 1Ess Support Services ASfrom rank 3 to 273
Fallers
- 7Peppes Pizza ASfrom rank 6 to 1340
- 4Hotelldrift CL the Hub ASfrom rank 1 to 564
- 4Compass Group Norge ASfrom rank 5 to 946
- 34Service Landanlegg ASfrom rank 4 to 750
- 2Scandic Hotels ASfrom rank 2 to 471
Awards · 2025 · Morning class Large
Needs attention · 2025 · Morning class Large
10 companies show at least one warning sign. Showing the 10 most important.
- watchSelect Service Partner ASVery low equity ratio (4.1%) · Current ratio below 1 (0.47)
- watchThon Hotels ASCurrent ratio below 1 (0.62) · Loss before tax
- watchOslo Plaza Hotel ASVery low equity ratio (2.0%) · Current ratio below 1 (0.62)
- watchScandic Hotels ASCurrent ratio below 1 (0.84)
- watchRadisson Hotels Norway ASCurrent ratio below 1 (0.71)
- watchZero Five ASCurrent ratio below 1 (0.58)
- watchCares Workplace Services ASCurrent ratio below 1 (0.89)
- watchOlivia ASCurrent ratio below 1 (0.08)
- watchPeppes Pizza ASCurrent ratio below 1 (0.46)
- watchEspresso House Norge ASCurrent ratio below 1 (0.91)
Sector map · 2025 · Morning class Large
Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.
Show the map's figures as a table
| Company | Operating margin | Equity ratio | Revenue |
|---|---|---|---|
| Hurtigruten Svalbard AS | 9.5% | 58.6% | 522 MNOK |
| Ess Support Services AS | 3.4% | 57.6% | 825 MNOK |
| Strawberry Services AS | 17.4% | 24.5% | 1,514 MNOK |
| Scandic Hotels AS | 8.4% | 38.1% | 6,735 MNOK |
| Hotelldrift CL the Hub AS | 14.5% | 27.1% | 673 MNOK |
| Zero Five AS | 1.6% | 33.8% | 845 MNOK |
| 4Service Landanlegg AS | 16.5% | 17.3% | 863 MNOK |
| Olivia AS | 5.8% | 35.5% | 677 MNOK |
| Compass Group Norge AS | 2.5% | 32.7% | 2,157 MNOK |
| Oslo Plaza Hotel AS | 29.8% | 2.0% | 535 MNOK |
| Espresso House Norge AS | 1.0% | 33.3% | 516 MNOK |
| Radisson Hotels Norway AS | 2.5% | 24.3% | 2,533 MNOK |
| Peppes Pizza AS | 5.6% | 27.8% | 537 MNOK |
| Cares Workplace Services AS | 1.3% | 14.0% | 708 MNOK |
| Select Service Partner AS | 3.8% | 4.1% | 2,154 MNOK |
| Thon Hotels AS | −13.1% | 21.3% | 536 MNOK |
Holding and investment companies · 2025
82 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 31 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | Food Folk Norge Holdings AS | 80 | 99.9% | 21.2% | 7.61 | 607 MNOK |
| 2 | Arian Holding AS | 78 | 99.6% | 108.4% | 0.19 | 12 MNOK |
| 3 | Facesico Holding AS | 77 | 99.3% | 18.9% | – | 10 MNOK |
| 4 | Cws Holding AS | 73 | 86.3% | 42.4% | 2.61 | 20 MNOK |
| 5 | Rowan Brown Holding AS | 70 | 79.8% | 38.5% | 5.18 | 32 MNOK |
| 6 | Holtebu Holding AS | 68 | 89.3% | 26.8% | 1.72 | 12 MNOK |
| 7 | Samir Sharma Holding AS | 63 | 95.9% | 6.2% | 50.00 | 75 MNOK |
| 8 | Svadla Holding AS | 60 | 95.0% | 4.2% | 1,014.35 | 11 MNOK |
| 9 | Søraas Invest AS | 58 | 99.8% | −4.6% | 617.49 | 11 MNOK |
| 10 | Danora Holding AS | 58 | 88.1% | 7.9% | 4.76 | 70 MNOK |
| 11 | Paresa Holding AS | 57 | 84.4% | 7.1% | 23.61 | 98 MNOK |
| 12 | PB Norge Holding AS | 55 | 72.7% | 27.3% | 1.26 | 487 MNOK |
| 13 | Pizza Holding AS | 52 | 77.6% | 23.3% | 1.06 | 52 MNOK |
| 14 | Frich's Holding AS | 52 | 70.1% | 21.7% | 1.94 | 10 MNOK |
| 15 | Food Folk Group Holdings AS | 52 | 84.1% | 13.2% | 1.60 | 5,521 MNOK |
| 16 | Craftsmanship Holding AS | 50 | 31.4% | 29.4% | 4.60 | 11 MNOK |
| 17 | Ghebremeskel Holding AS | 48 | 56.1% | 12.6% | 7.93 | 19 MNOK |
| 18 | K & F Holding AS | 47 | 44.4% | 9.7% | 164.15 | 18 MNOK |
| 19 | Laaven Holding AS | 45 | 20.2% | 59.0% | 1.15 | 12 MNOK |
| 20 | Fleischer's Invest AS | 43 | 88.7% | 2.0% | 4.45 | 38 MNOK |
Show all 31
| Rank | Company | Score | Total assets |
|---|---|---|---|
| 21 | Mounir Bensaid Holding AS | 42 | 11 MNOK |
| 22 | Restauranthuset Holding AS | 42 | 21 MNOK |
| 23 | Ksha Holding AS | 38 | 11 MNOK |
| 24 | Tre Holding AS | 36 | 19 MNOK |
| 25 | Thon Holding AS | 34 | 19,077 MNOK |
| 26 | 4Service Holding AS | 32 | 354 MNOK |
| 27 | Fylkesnes Invest AS | 32 | 51 MNOK |
| 28 | Nordlys Sport Holding AS | 32 | 18 MNOK |
| 29 | Hankø Invest AS | 30 | 62 MNOK |
| 30 | Culinary Holding AS | 27 | 15 MNOK |
| 31 | Emr Invest AS | 25 | 12 MNOK |
Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology
Scenario analysis: the sector's weakest year
The sector's weakest year was 2022, with a median operating margin of 2.2%.
Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2017 | – | – |
| 2019 | – | – |
| 2020 | – | – |
| 2021 | – | – |
| 2022 · weakest year | 2.2% | 12.7% |
| 2023 | 2.8% | 19.2% |
| 2024 | 3.3% | 18.7% |
| 2025 | 3.8% | 21.3% |
| 2026 | 11.3% | 34.6% |
In 2022, 18 ranked companies did better than the sector, 4 about the same and 22 weaker.
Held up best in 2022
- 1Mattis Mat ASequity ratio 80.2%40.8%
- 2Sandvika Sushi ASequity ratio 61.5%34.0%
- 3Asian Wok ASequity ratio 70.4%30.5%
- 4GREEK & Grill ASequity ratio 11.9%27.4%
- 5Vågå Hotel ASequity ratio 22.9%21.4%
- 6Mai Sushi ASequity ratio 8.1%18.8%
- 7Makalaus ASequity ratio 61.2%10.6%
- 8Cesar Bar og Cafe ASequity ratio 71.6%10.0%
- 9Burger'n ASequity ratio 62.7%8.8%
- 10Kocu Eiendom ASequity ratio 18.3%8.3%
Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology
Drivers in the sector
Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| Sector's median operating margin | – | 2.2% | 2.8% | 3.3% | 3.8% | 11.3% |
Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the sector's median operating margin rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| Sector's median operating margin | – | 2.2% | 2.8% | 3.3% | 3.8% | 11.3% |
Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 1 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.14 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.16 percentage points |
| Sector's median operating margin | – | 2.2% | 2.8% | 3.3% | 3.8% | 11.3% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026
When policy rate fell in 2025, 1,021 of 1,994 ranked companies kept their operating margin at or above the year before. Among the largest: Scandic Hotels AS (6.6% → 8.4%), Radisson Hotels Norway AS (2.5% → 2.5%), Select Service Partner AS (0.3% → 3.8%), Strawberry Services AS (3.2% → 17.4%), 4Service Landanlegg AS (13.7% → 16.5%).
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
The sector in Norway (SSB)
The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.
Enterprises, employment and turnover · 2024
- Enterprises
- 13,724
- +1.2% from 2023
- Persons employed
- 118,290
- +0.6% from 2023
- Turnover
- NOK 131.9 bn
- +6.1% from 2023
- Gross operating margin
- 7.1%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
399 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −5.0% against the four quarters before (420). That is about 29.1 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 1.7%
- Share of persons employed
- 13.9%
- Share of turnover
- 18.2%
SSB publishes this for groups of industries only. The figures are for the group “Overnattings- og serveringsvirksomhet”.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.
Latest bankruptcies and liquidations
- Arctic Tide AS 936039758 Voluntary liquidation · 31 October 2026
- Aroy Thai TO AS 926599992 Voluntary liquidation · 31 October 2026
- Chicken House AS 927520680 Forced dissolution · 31 October 2026
- Fanky Oysters and Champagne Restauration AS 935234115 Voluntary liquidation · 31 October 2026
- Fjellhjerte AS 938537038 Voluntary liquidation · 31 October 2026
- Kronajordet AS 896897462 Voluntary liquidation · 31 October 2026
- Levanger Sentrum AS 928026167 Voluntary liquidation · 31 October 2026
- Mirchi Lillestrøm AS 937415354 Voluntary liquidation · 31 October 2026
Industry codes (NACE)
| Code | Description |
|---|---|
| 55* | Hele hovedgruppe 55 |
| 55.100 | Drift av hoteller |
| 55.200 | Drift av vandrerhjem og ferieleiligheter |
| 55.300 | Drift av campingplasser |
| 55.400 | Formidlingstjenester tilknyttet overnattingsvirksomhet |
| 55.900 | Annen overnattingsvirksomhet |
| 56* | Hele hovedgruppe 56 |
| 56.110 | Drift av restauranter |
| 56.120 | Drift av mobile serveringssteder |
| 56.210 | Catering for arrangementer |
| 56.220 | Kantinedrift og annen cateringvirksomhet |
| 56.300 | Drift av barer |
| 56.400 | Formidlingstjenester tilknyttet serveringsvirksomhet |