Lodging

MAY 18, 2023

DALLAS—CBRE is again raising its forecast for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains. CBRE has revised its forecast for 2023 revenue per available room (RevPAR) to $97.89, up 6.0 percent year-over-year, and an increase of $0.43 from its previous forecast.

Forecasting 264

Forecasting Average Daily Rate Occupancy Revenue 264

Hospitality Net

OCTOBER 7, 2024

hotel revenue per available room (RevPAR) rose 3.9% After two months of declines, occupancy improved by 1ppt to 66.9%, which was 4.1ppts below August 2019. year over year (YoY) in August, following a lackluster July. Growth was driven by average daily rate (ADR), which increased 2.3%.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Hospitality Net

MAY 29, 2024

Produced jointly by STR and Cushman & Wakefield, the Hotel Sector Barometer confirms the upsurge in tourism and hotel activity in Spain, with outstanding results across all indicators showing growth over the figures for the first quarter of 2023. Spain’s hotels achieved occupancy of 68.5% between January and March (+4.9%

Average Daily Rate 246

Average Daily Rate Occupancy Hotels Tourism 246

Hospitality Net

MAY 15, 2024

Japan’s growth in hotel revenue per available room (RevPAR) has remained extremely impressive over the past 15 months – a function of a later opening post-pandemic, above-average inflation, and an influx of international demand.

Average Daily Rate 245

Average Daily Rate Occupancy Revenue Hotels 245

Hospitality Net

OCTOBER 31, 2023

hotel revenue per available room (RevPAR) rose 2.9% in September 2023, which was the strongest year-over-year (YoY) growth of the quarter, even as occupancy continued to decline modestly.

Occupancy 243

Occupancy Revenue Hotels 243

Lodging

NOVEMBER 20, 2023

HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. Occupancy was downgraded slightly (by 0.2 Occupancy was downgraded slightly (by 0.2 percentage points).

Forecasting 290

Forecasting Average Daily Rate Occupancy Tourism 290

Hospitality Net

OCTOBER 2, 2023

Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance.

Revenue Management 186

Revenue Management Revenue Management Forecasting 186

Hotel Management

FEBRUARY 13, 2024

Hotels across Melbourne and Sydney are feeling the star power of global music icon Taylor Swift as fans flock from all over to attend the sold-out Eras Tour concerts, taking place over the next two weekends. What we’re seeing with Taylor Swift tour is a phenomenon and particularly noteworthy,” Jones told HM. “In

Occupancy 290

Occupancy Tourism Events Accommodation 290

Hospitality Net

OCTOBER 10, 2024

In this episode, we look at where there is potential to drive more revenue in hospitality and accommodation businesses when the ADR has been maximised, other than occupancy - how can hotels increase spend per guest?

Revenue 188

Revenue Hospitality Occupancy Market 188

Hospitality Net

NOVEMBER 17, 2023

NH Hotel Group (NH), part of Minor Hotels, generated €1.61 billion of revenue in the first nine months of 2023, up 28.1% Strong demand drove occupancy up to 68%, while average daily rate (ADR) climbed further to €137 in 9M23, marking growth of 14.4% year-on-year. year-on-year and 25.2% compared to 9M19.

Average Daily Rate 189

Average Daily Rate Revenue Occupancy Hotels 189

Skift Blog

JULY 19, 2023

Skift Take: Industry experts are very bullish on the revenue growth of premium hotels owing to better operational parameters, largely due to domestic demand and global events like the G20 Summit and the Cricket World Cup 2023. Amrita Ghosh Read the Complete Story On Skift

Occupancy 189

Occupancy Events Revenue Operations 189

Hospitality Net

AUGUST 26, 2024

The rate of growth in occupancy, average daily rate (“ADR”) and revenue per available room (“RevPAR”), while robust, continued to decelerate. Luxury hotel occupancy benefitted from increased demand, while ADR growth levels for lower priced properties continued to show significant improvements.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotel Marketing 246

Hospitality Net

APRIL 17, 2024

In 2023, occupied room nights, as well as total occupancy (83.5%), continued to lag 2019 performance; however, like gaming revenue, the market’s ADR ($191.29) and RevPAR ($159.73) for 2023 reached record levels for the second year in a row.

Casinos 241

Casinos Hotel Marketing Market Marketing 241

Lodging

NOVEMBER 15, 2024

hotel performance is expected to reaccelerate in the fourth quarter and extend into 2025, according to CBRE’s latest forecast. 5 percent increase in revenue per available room (RevPAR) growth for 2024, down from the previously estimated 1.2 CBRE now forecasts a.5 percent in August. CBRE now forecasts a.5 percent in August.

Forecasting 290

Forecasting Occupancy Revenue Hotels 290

Hospitality Net

AUGUST 29, 2024

The hotel landscape is correspondingly lively - increasingly sustainable and with numerous modern, new and individual concepts. After expecting a slight revival in the hotel investment market at the beginning of the year, our latest Hotel Market Spotlight for Berlin now looks at the hotel performance itself.

Hotel Marketing 246

Hotel Marketing Market Marketing Occupancy 246

Hotel Management

APRIL 22, 2024

Adelaide hotels are reaping the benefit of a number of large-scale events across the city in 2024, according to recent data from CoStar. During the Santos Tour Down Under, between January 12-21, hotel occupancy reached 78.1%, while revenue per available room (RevPAR) increased 11.4% year over year to AU$179.18.

Occupancy 130

Occupancy Average Daily Rate Events Scale 130

Hospitality Net

MAY 13, 2024

hotels saw surprisingly modest performance this week following the previous down week during Passover. Revenue per available room (RevPAR) increased 0.5% year over year (YoY) as average daily rate (ADR) showed a slight increase (+1.3%) but was offset by an occupancy decline of 0.5 and occupancy down 0.2%.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Hospitality Net

FEBRUARY 12, 2024

year-over-year decrease in hotel demand and a 0.8% drop in occupancy in Q4 2023. Occupancy declines were partially offset by a 0.7% decrease in revenue per available room (RevPAR) during the quarter. increase in supply led to a 2.5% increase in average daily rates (ADR), resulting in a 1.9%

Average Daily Rate 196

Average Daily Rate Occupancy Revenue Hotels 196

Hospitality Net

APRIL 22, 2024

hotel performance ending 13 April 2024 reflected an easy comparison to Easter last year and the impact of the solar eclipse. Revenue per available room (RevPAR) rose 5.8% driven by nearly equal gains in occupancy and average daily rate (ADR). Similar to the previous week, U.S.

Average Daily Rate 264

Average Daily Rate Occupancy Revenue Hotels 264

Hospitality Net

AUGUST 4, 2023

Executive Summary Hotel fundamentals softened in Q2, largely due to a 1.5% year-over-year drop in occupancy. Revenue per available room (RevPAR) increased by just 1.1% Hotel wage growth slowed in June but at 5.2% Hotel wage growth pressures are likely to persist, at least for the near term. Petersburg.

Average Daily Rate 246

Average Daily Rate Occupancy Hotels Revenue 246

Hotel Management

NOVEMBER 14, 2024

Marriott Bonvoy has secured an exclusive multiyear contract extension with Tennis Australia which will see its return as the official hotel partner for the Australian Open and official lead-in tournaments around the country. We operated at high occupancy throughout the tournament, and are currently pacing in line with last year. “We

Occupancy 130

Occupancy Events Revenue Accommodation 130

Hospitality Net

JUNE 12, 2023

The hotel industry knows concerts “all too well,” as they have long been one of the top catalysts for high occupancy nights and premium room rates. million in room revenue to the U.S. hotel industry. That dynamic has been center stage over the last three months, as Taylor Swift’s “The Eras Tour” added $98.2

Occupancy 244

Occupancy Revenue Hotels 244

Hospitality Net

SEPTEMBER 8, 2023

revenue per available room (RevPAR) grew just 0.8% year over year in July, as growth in average daily rate (ADR) continued to decelerate and national occupancy declined for the fourth consecutive month.

Average Daily Rate 239

Average Daily Rate Occupancy Revenue Hotels 239

Hospitality Net

AUGUST 11, 2023

S Hotels and Resorts PCL (SET: SHR), the global hospitality company from Singha Estate PCL (SET: S), announced accelerating total revenue from services of THB 4,821 million (+28% YoY), and jumping adjusted EBITDA of THB 1,112 million (+74% YoY) for the first half of 2023.

Average Daily Rate 180

Average Daily Rate Revenue Occupancy Resorts 180

Lodging

JANUARY 29, 2024

HENDERSONVILLE, Tennessee—Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for Feb. The market is projected for a Friday through Sunday night occupancy of 87.9 That level combined with an ADR of $573 would result in revenue per available room (RevPAR) of $504.

Average Daily Rate 278

Average Daily Rate Forecasting Occupancy Revenue 278

Hospitality Net

FEBRUARY 12, 2024

hotels took an expected seasonal pause with occupancy 1.0 year over year (YoY), resulting in a gain in revenue per available room (RevPAR) of 1.7%. year over year (YoY), resulting in a gain in revenue per available room (RevPAR) of 1.7%. percentage points (ppts) lower compared to the prior week and flat from a year ago.

Average Daily Rate 263

Average Daily Rate Occupancy Revenue Hotels 263

Hotel Management

MAY 23, 2024

A recent report by STR on Japan’s hotel market shows impressive growth in revenue per available room (RevPAR) over the past 15 months amidst above-average inflation and an influx of international demand following its later reopening post-pandemic. Historically, pricing power in Japan has correlated with high actual occupancy levels.

Occupancy 130

Occupancy Marketing Market Travel 130

Lodging

NOVEMBER 19, 2024

hotel forecast revision of 2024. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Occupancy for the year was lowered 0.1 Occupancy for the year was lowered 0.1 Hotel Forecast in Final Revision of 2024 appeared first on LODGING Magazine.

Forecasting 262

Forecasting Average Daily Rate Occupancy Tourism 262

Hospitality Net

SEPTEMBER 10, 2024

Maestro PMS, the hotel industry’s leading Web Browser-based cloud and on-premises all-in-one property-management system, has teamed with industry-leading financial management platform Data Plus to elevate the technology offerings at the famed Francisco Grande Hotel & Golf Resort.

Resorts 231

Resorts Occupancy Revenue Management 231

Hospitality Net

JANUARY 22, 2024

Early January is generally a slow period for the hotel industry. Thus, this week’s robust gain (+6.3%) in average daily rate (ADR) came as a surprise given occupancy was down 1.5 revenue per available room (RevPAR) advanced 3.3% percentage points (ppts). due to the ADR boost.

Average Daily Rate 260

Average Daily Rate Occupancy Consumer Revenue 260

Hospitality Net

MAY 6, 2024

hotel performance paused due to the Passover observance that began on Monday 22 April. Revenue per available room (RevPAR) declined 2.5% as occupancy fell 0.8 percentage points (ppts) and average daily rate (ADR) declined 1.3%.

Average Daily Rate 234

Average Daily Rate Occupancy Revenue Hotels 234

Hotel Business

DECEMBER 12, 2022

Hotel management system provider RoomRaccoon has unveiled its annual global report, RoomRaccoon Report 2022, “A Year of Impact: What’s Next?” In August, RoomRaccoon’s clients in Europe had record-breaking occupancy levels averaging 64% in comparison to 61% in August 2019. Hotels are generating better revenue.

Occupancy 115

Occupancy Ancillary Revenue Upsell Revenue 115

Hospitality Net

DECEMBER 18, 2024

Event-driven travel is undeniably booming, with its influence seen in hotel occupancy and room rates. trillion suggesting that events are set to become an even more important revenue source for the hospitality industry.

Events 130

Events Revenue Management Revenue Market Research 130

Hospitality Net

OCTOBER 14, 2024

hotel performance for the period ending 5 October 2024 showed the effects of Rosh Hashanah and Columbus Day/Indigenous Peoples Day calendar shifts as well as the impact of Hurricane Helene. Revenue per available room (RevPAR) dropped 7.7% and occupancy falling 2.3 On the heels of strong gains the previous week, U.S.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

eHotelier

MARCH 21, 2024

Fortunately, price isn’t the only tool available to hoteliers looking to improve their occupancy rate. Here's a look at how to increase hotel occupancy with some tried-and-true approaches and introduce some important considerations to keep in mind when monitoring this common hotel performance metric.

Occupancy 119

Occupancy Hotels Revenue Management Revenue 119

Hospitality Net

OCTOBER 16, 2023

decline in occupancy. Total revenue growth continued to outpace RevPAR growth. In July, total revenue rose 2.5%. Hotel spreads narrowed to 419 bps from 478 bps in July and below the post-pandemic average of 458 bps. Hotel job openings continue to d. Key Takeaways: Top Line Metrics August RevPAR declined 0.7%

Occupancy 238

Occupancy Revenue Hotels Operations 238

Hospitality Net

SEPTEMBER 9, 2024

revenue per available room (RevPAR) increased for the seventh consecutive week, boosted by both average daily rate (ADR) and occupancy. Group demand in luxury and upscale hotels rose for the seventh straight week as well. In the week ending 31 August 2024, U.S.

Average Daily Rate 244

Average Daily Rate Scale Occupancy Revenue 244