Oulu is experiencing a resurgence in its hotel accommodation market, with four new hotels set to be developed in the city center after years of waiting. One of the key projects involves converting an old office building near the Valkea shopping center and the railway station into a hotel featuring over 80 rooms. The renovation of the building, which includes extensive interior demolishing down to the concrete, has already begun and is estimated to cost over eight million euros, with completion expected by December. The project is being managed by Suomen Kuntakiinteistöt Group and Rave Rakennus, with an operator to be announced in the spring.

The increased interest in Oulu's hotel market comes after a notable decrease in hotel room availability in the early 2020s, unlike cities such as Tampere, Turku, and Helsinki where the market remained robust. Despite this past decline, hotel occupancy rates in Oulu have remained high, attracting the attention of operators looking to invest in the region. This winter, several hotel projects have either been completed or are in the planning stages, signaling a promising recovery for Oulu's hospitality sector.

If all planned projects come to fruition, Oulu could see a significant increase in its hotel room capacity, reversing the trend of reduced availability. This development not only addresses the local accommodation needs but also aims to enhance the city’s attractiveness as a destination for travelers and business visitors. The expansion is a critical step in positioning Oulu favorably within Finland's growing tourism landscape.