Hospitality Net

AUGUST 29, 2024

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. The occupancy rate reached 71% in the first half of 2024, up from 68% in H1 2023. Have operating costs and expenses increased?

Hotel Marketing 246

Hotel Marketing Market Marketing Occupancy 246

Hospitality Net

FEBRUARY 26, 2024

STR’s global "bubble chart" update as of 10 February 2024 shows that 74% of markets increased revenue per available room (RevPAR) from the comparable period in 2023. Growth was balanced with 64% of markets showing increased occupancy and 70% achieving a higher average daily rate (ADR) than last year.

Average Daily Rate 238

Average Daily Rate Market Marketing Occupancy 238

Hospitality Net

SEPTEMBER 13, 2024

This report delves into the intense rivalry between Singapore and Hong Kong, two of Asia’s most influential hotel markets, each vying for dominance in the post-pandemic era. Singapore, now leading the region with occupancy rates surpassing 83% in early 2024, is capitalising on its ability to attract major international events.

Hotel Marketing 237

Hotel Marketing Market Marketing Occupancy 237

Hospitality Net

AUGUST 20, 2024

With growing appetite among investors and liquidity in the debt markets, we expect to see a gradual yield sharpening for prime assets as we progress into 2025. Market Performance Despite ongoing supply growth, the occupancy and ADR in Irish hotels remained healthy in H1 2024, with only minor softenin.

Market 246

Market Marketing Occupancy Sales 246

Hospitality Net

MAY 1, 2023

STR’s global “bubble chart” update through 15 April 2023 shows continued improvement in the Asia Pacific region and more than half of global markets with better than 20% growth in revenue per available room (RevPAR) versus 2019.

Average Daily Rate 239

Average Daily Rate Occupancy Revenue Market 239

Hospitality Net

APRIL 11, 2024

Dublin’s hotel occupancy was helped by the Six Nations Men’s 2024 championship and St. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Patrick’s Day festivities, according to March 2024 preliminary data from CoStar.

Occupancy 183

Occupancy Real Estate Hotels Market 183

Hospitality Net

AUGUST 18, 2023

Since 2020, the Louisville hotel market has seen an increase in leisure travel associated with bourbon tourism, its nearby universities, and the Kentucky Derby. It is because of these large demand generators that the market has been able to recover most of its occupancy-based COVID-19 losses.

Hotel Marketing 246

Hotel Marketing Market Marketing Occupancy 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

Hospitality Net

APRIL 20, 2023

After two years since the COVID-19 pandemic started, the tourism market in Croatia has almost completely recovered in 2022, with only 2% fewer overnight stays than in 2019. Occupancy reached 79%, 25% above the 2021 season but still 9% below 2019.

Market 228

Market Marketing Occupancy Hospitality 228

Hospitality Net

APRIL 19, 2023

Key markets in the Middle East are showing a spike in hotel occupancy on the books during Eid al-Fitr, according to STR’s Forward STAR data.

Market 241

Market Marketing Occupancy Hotels 241

Hospitality Net

APRIL 18, 2024

Manhattan hotels have seen an increase in occupancy, average daily rate (ADR) and revenue per available room. But the growth rate has started to decline as the market stabilizes. Cheaper hotels gained from market fatigue, with midscale properties having three times the ADR growth than higher-priced hotels in Q4.

Average Daily Rate 202

Average Daily Rate Market Marketing Occupancy 202

Hospitality Net

MARCH 6, 2024

Travel demand is likely to stabilize in 2024 benchmarking record occupancy and rate. The Industry will see 65+ percent occupancy overall and even higher ADR in 2024.

Market 185

Market Marketing Occupancy Consumer 185

Hotel Management

JUNE 15, 2023

As part of HM’s 2023-24 Development Outlook, CBRE Hotels Managing Director – Capital Markets, Michael Simpson, and Pacific Head of Hotels Research, Ally McDade, discuss the challenges and opportunities that lie ahead in the Australian hotel market.

Hotel Marketing 276

Hotel Marketing Average Daily Rate Market Marketing 276

Skift Blog

JUNE 28, 2023

If not, we are looking at a softening market. Skift Take: Rising supply is a good as long as there is demand at a price that consumers are willing to pay. Srividya Kalyanaraman Read the Complete Story On Skift

Occupancy 246

Occupancy Consumer Market Marketing 246

Lodging

JANUARY 18, 2024

Hotel Performance During 2023 Percentage change from 2022:Occupancy: 63.0% (+0.6%)ADR: RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019. Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (up 8.8

Average Daily Rate 277

Average Daily Rate Occupancy Revenue Hotels 277

Lodging

MARCH 29, 2024

Hotel Performance March 17-23, 2024 Percentage change from comparable week in 2023:Occupancy: 65.3 percent) Among the Top 25 Markets, New Orleans reported the largest year-over-year increase in occupancy (up 13.6 percent (up 0.7 percent)ADR: $162.28 (up 2.5 percent)RevPAR: $106.01 (up 3.2 percent to 75.5

Occupancy 290

Occupancy Hotels Market Marketing 290

Skift Blog

JUNE 5, 2024

AirDNA showed how coastal, lake, mountain, small-town, and rural vacation rental markets are faring well compared to 2019.

Market 264

Market Marketing Occupancy Construction 264

Lodging

MAY 25, 2023

Hotel Performance May 14-20, 2023 Percentage change from comparable week in 2022:Occupancy: 67.5 occupancy level was the second highest for any week this year. Among the Top 25 Markets, Washington, D.C., Hotel Occupancy Reaches Second Highest Level This Year appeared first on LODGING Magazine. percent (down 1.5

Occupancy 147

Occupancy Hotels Market Marketing 147

Hotel Management

NOVEMBER 12, 2024

STR’s latest data market report shows September 2024 occupancy was stable despite slowing growth, standing at 72.7% Year-to-date occupancy across the country was at 70.4% Hotel occupancy is a key economic indicator,” said Goodwin. up just 0.6% on September 2023 (72.1%). compared to 68.7% in the first nine months of 2023.

Occupancy 130

Occupancy Accommodation Consumer Hotels 130

Lodging

NOVEMBER 22, 2024

Hotel PerformanceNovember 10-26, 2024 Percentage change from comparable week in 2023:Occupancy: 63.3 percent) Among the Top 25 Markets, Tampa saw the largest increases across each of the three key performance metrics: occupancy (up 30.3 percent (up 1.5 percent)ADR: $154.96 (down 1.1 percent)RevPAR: $98.11 (up 0.4 percent to 87.2

Occupancy 277

Occupancy Hotels Market Marketing 277

Hotel Management

JUNE 18, 2024

Since reopening, Fiji’s tourism sector has seen record volumes of visitor arrivals, in particular from our key source markets of Australia, NZ, North America and China. We have also seen incredible growth in yield (Average Daily Rate and RevPAR) and occupancy. Register now for AHICE Fiji Islands Investment in Tourism Summit.

Tourism 264

Tourism Average Daily Rate Market Marketing 264

Hospitality Net

JUNE 13, 2024

Picture this: Marketing campaigns are in full swing, beautifully crafted, and meticulously executed to entice guests. That is until occupancy rates falter or revenues don’t meet expectations, then the fingers begin to point. Meanwhile, the revenue management team is diligently fine-tuning pricing strategies to optimize profits.

Revenue Management 189

Revenue Management Revenue Market Marketing 189

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

Hospitality Net

JULY 23, 2023

Since the COVID-19 pandemic, Philadelphia’s ADR has fully recovered, but occupancy and RevPAR remain below 2019 levels. The primary factor limiting the recovery is the stagnant commercial and group demand segments.

Hotel Marketing 230

Hotel Marketing Market Marketing Occupancy 230

Hotel Management

FEBRUARY 13, 2024

Occupancies are at unparalleled levels over the concert periods, and we have also seen a surge in regional demand as Swifties take the opportunity to travel further. For both the Melbourne and Sydney concerts we’ve seen a bump in hotel occupancy around the event dates, and our restaurants have also seen great reservation numbers.

Occupancy 290

Occupancy Tourism Events Accommodation 290

Lodging

APRIL 19, 2024

Hotel Performance April 7-13, 2024 Percentage change from comparable week in 2023:Occupancy: 65.8 percent) Among the Top 25 Markets, Philadelphia reported the largest year-over-year increase in occupancy (up 23.2 percent (up 2.8 percent)ADR: $160.20 (up 2.9 percent)RevPAR: $105.48 (up 5.8 percent to 77.0

Occupancy 249

Occupancy Hotels Market Marketing 249

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. percent while Q2 increased 6.8

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotel Marketing 246

Hospitality Net

JULY 10, 2023

STR’s global “bubble chart” update as of 17 June 2023 shows that 85% of markets experienced growth in revenue per available room (RevPAR) when compared to 2019. This reflects the same level as the previous update, which marked the largest share of markets with growth since the beginning of the pandemic.

Market 188

Market Marketing Hotel Marketing Occupancy 188

Hotel Management

JUNE 20, 2023

We’ve got some other more lifestyle hotels coming to market over the next six to 12 months and we’re going to be adding about 200 rooms into the Sydney [hotels] landscape.” With its recently opened hotels, Public is seeing strong occupancy rates continue. We’ve seen the occupancies continue through these cooler months. “We’re

Business 242

Business Hotel Marketing Market Marketing 242

Hospitality Net

JUNE 4, 2024

RevPAR only increased 0.2%, as both demand and occupancy declined for the fourth consecutive quarter. economic growth slowed during 1Q-2024 with Real GDP increasing 1.6%, well below 4Q-2023 growth of 3.4%. Despite positive economic growth, U.S. January and February RevPAR increased by1.0%

Occupancy 233

Occupancy Market Marketing Hotels 233

Lodging

JANUARY 29, 2024

The market is projected for a Friday through Sunday night occupancy of 87.9 HENDERSONVILLE, Tennessee—Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for Feb. 9-11, 2024, which would be the highest level for any Super Bowl weekend on record, according to STR.

Average Daily Rate 278

Average Daily Rate Forecasting Occupancy Revenue 278

Hotel Management

NOVEMBER 14, 2024

Nuell said the partnership over the past three years has resulted in more Marriott Bonvoy sign ups, increased brand awareness and increased hotel occupancy and revenue in the company’s 10 Melbourne hotels.  “The We operated at high occupancy throughout the tournament, and are currently pacing in line with last year.

Occupancy 130

Occupancy Events Revenue Accommodation 130

Hospitality Net

OCTOBER 28, 2024

percentage point (ppt) increase in occupancy. RevPAR growth in the Top 25 Markets trailed slightly versus the remaining markets, which saw ongoing demand and ADR gains from areas impacted by Hurricanes Helene and Milton. In the week ending 19 October 2024, U.S. revenue per available room (RevPAR) advanced 4.2%

Average Daily Rate 263

Average Daily Rate Scale Occupancy Revenue 263

Hospitality Net

JULY 22, 2024

We take a look at how host market hotels performed during this year’s races and what occupancy on the books looks like for races set for later this year. Set on a global stage, Formula 1 spans across multiple continents, with 12 of the 24 races so far this year having taken place on F1’s biggest ever calendar.

Occupancy 259

Occupancy Hotels Market Marketing 259

Lodging

JUNE 16, 2023

Hotel Performance June 4-10, 2023 Percentage change from comparable week in 2022:Occupancy: 69.4 percent) Among the Top 25 Markets, Oahu Island saw the only double-digit occupancy lift over 2022 (up 13.0 percent (down 1.6 percent)ADR: $157.69 (up 0.5 percent)RevPAR: $109.38 (down 1.2 percent to 84.8 Washington, D.C.,

Occupancy 255

Occupancy Hotels Market Marketing 255

Hospitality Net

JANUARY 22, 2024

Thus, this week’s robust gain (+6.3%) in average daily rate (ADR) came as a surprise given occupancy was down 1.5 A closer look revealed that most of the growth was due to a single market—Las Vegas, which hosted the annual Consumer Electronics Show (CES) a week later than in 2023. percentage points (ppts). due to the ADR boost.

Average Daily Rate 260

Average Daily Rate Occupancy Consumer Revenue 260

Hospitality Net

FEBRUARY 5, 2024

Occupancy sat at 56.2%, essentially matching the same week last year, down just 0.2 As has been seen several times over the past couple months, the Las Vegas market with twice as many rooms as the next largest market and hosting large events had a significant impact on overall industry performance. percentage points (ppts).

Average Daily Rate 244

Average Daily Rate Occupancy Events Revenue 244