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New Years Eve gave Sydney hotels plenty of cause for celebration on December 31. Sydney hotels pulled in record high average daily rate and revenue per available room on the night, according to December preliminary data from CoStar. CoStar reports occupancy levels of 78.8% for December 2024, up 2.1% and AUD482.35, respectively.
hotel industry reported negative year-over-year comparisons, according to CoStars latest data through Feb. Hotel Performance February 2-8, 2025 Percentage change from comparable week in 2024 Occupancy: 55.9 Hotel Performance February 2-8, 2025 Percentage change from comparable week in 2024 Occupancy: 55.9
Skift Take: Hotels aren't full! Except in Manhattan.) One theory why is that corporate travelers who used to book rooms for days or weeks at a time are taking shorter trips because of hybrid work. Sean O'Neill Read the Complete Story On Skift
Live events drive more bookings and boost hotel profits, but to foster long-term loyalty, hotels must prioritise creating unforgettable guest experiences. When a global superstar like Taylor Swift announces tour dates, or a major sporting event is scheduled, hotels in those cities experience an immediate surge in demand.
Luxury travellers are seeking hotels that tell their own stories. Personalised design and dcor reflecting the essence of the destination with features like original art from local artists and localised hotel experiences are just as important as the hotels core luxury offering.
Skift Take: Increased occupancy rates for cities hosting campaign stops in advance of the 2024 U.S. Presidential election did not proportionally translate to higher hotel prices. Onyx CenterSource Read the Complete Story On Skift
Skift Take: Domestic demand in the form of weddings, business travel and MICE is leading to record occupancy levels in the Indian hotel industry. However, lack of foreign arrivals continues to be a sore spot. Bulbul Dhawan Read the Complete Story On Skift
Skift Take: In the July-September quarter, the occupancy remained consistent as last year, and the growth in revenue was driven by higher room rates: A positive sign indicating travelers' willingness to spend more on tourism. Bulbul Dhawan Read the Complete Story On Skift
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