Hospitality Net

JULY 6, 2023

This occurred despite the fact that the average occupancy for U.S. Based on our February 2023 Hotel Horizons® report, CBRE is forecasting that total hotel revenue for the average U.S. hotel returned to pre-COVID levels in 2022. hotels is not expected to exceed 2019 levels until 2026.

Occupancy 225

Occupancy Revenue Forecasting Hotels 225

Hospitality Net

NOVEMBER 13, 2024

Diwali celebrations helped Dubai’s hotel industry post its highest October occupancy level since 2012, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Occupancy 189

Occupancy Real Estate Hotels Market 189

Hospitality Net

MAY 26, 2023

At a market-level, New York City continued to hold down the top occupancy spot while markets like Boston, Washington, D.C. and Alaska joined the leaderboard.

Occupancy 245

Occupancy Market Marketing Travel 245

Hospitality Net

APRIL 11, 2024

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

Occupancy 183

Occupancy Real Estate Hotels Market 183

Hospitality Net

MAY 1, 2023

Gains continue to be driven by average daily rate (ADR) while occupancy trails pre-pandemic comparables in most corners of the world.

Average Daily Rate 239

Average Daily Rate Occupancy Revenue Market 239

Hospitality Net

MARCH 21, 2024

On April 8th, there will be a total solar eclipse that traverses North America. Being able to witness this from land is incredibly rare, with astronomers at NASA saying that it could be as long as 375 years before a similar event occurs in this North American pathway.

Occupancy 264

Occupancy Events Hotels 264

Skift Blog

APRIL 18, 2023

Skift Take: Strong leisure travel demand and resumption of international flights have been instrumental in reshaping the fortunes of the hospitality sector. But will the trend continue? Amrita Ghosh Read the Complete Story On Skift

Occupancy 260

Occupancy Hospitality Travel Hotels 260

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

Skift Blog

APRIL 27, 2023

Skift Take: When Accor sneezes, the global hotel industry catches a cold. The Paris-based hotel giant sounds healthy. Sean O'Neill Read the Complete Story On Skift

Occupancy 246

Occupancy Hotels 246

Skift Blog

JUNE 28, 2023

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

Occupancy 246

Occupancy Consumer Market Marketing 246

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

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

AUGUST 16, 2024

A recent post on LinkedIn claimed that word-of-mouth was a potent driver and could overcome hotel’s shortcomings like an abysmal website and poor booking engine experience. The post concluded When a guest wants to stay with you, they will make that booking.

Occupancy 223

Occupancy 223

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 ADR: US$155.62 (+4.3%)RevPAR:

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

Hospitality Net

NOVEMBER 4, 2024

Strong loyalty programs help hotel brands lower customer acquisition costs, increase direct-to-consumer access, and offset occupancy shortfalls during shoulder periods and weaker economic conditions.

Occupancy 278

Occupancy Consumer Branding Hotels 278

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

Hospitality Net

AUGUST 23, 2024

Canadian Hotel demand continues to outperform 2019 levels in terms of overall occupancy and is even neck and neck with 2018 which was Canada’s occupancy peak. ADR’s robust growth above inflationary rates at 4.3% YTD leads healthy RevPAR growth of 4.0% In spite of inflation, deflated RevPARs are higher than pre-COVID levels.

Occupancy 264

Occupancy Consumer Hotels 264

Hospitality Net

FEBRUARY 1, 2024

occupancy, a 6.8% This 6-point increase in occupancy is a result of the market accommodating 8.6% Peak season, May through October, monthly occupancies ranged between 84% and 89%, averaging 86%. The Boston/Cambridge lodging market ended 2023 at 76.4% variance over 2022’s 69.6%. more rooms in 2023 compared to the prior year; 0.6%

Market 244

Market Marketing Occupancy Accommodation 244

Skift Blog

MAY 13, 2024

Skift Take: With premium cabins typically delivering much higher profit margins than economy seats, good occupancy is a key performance metric for many airlines. Gordon Smith Read the Complete Story On Skift

Occupancy 290

Occupancy Business Travel 290

Hotel Management

SEPTEMBER 28, 2023

Accommodation Australia reported sporting fans from Queensland and around the country are jetting interstate to enjoy the action, resulting in “skyrocketing” occupancy levels for hotels. Northerners keen to see in the AFL on Saturday have also boosted Melbourne hotels with around 80% occupancy for both Friday and Saturday nights.”

Occupancy 264

Occupancy Accommodation Events Hotels 264

Skift Blog

APRIL 21, 2023

Skift Take: Slower supply growth and high demand aren't always necessarily bad, quite the opposite: They translate into high occupancy rates, and more revenue per booking. Srividya Kalyanaraman Read the Complete Story On Skift

Occupancy 312

Occupancy Revenue 312

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

MAY 13, 2024

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%. Revenue per available room (RevPAR) increased 0.5% percentage points (ppts).

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Skift Blog

OCTOBER 23, 2024

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. This unexpected trend invites further examination into how hotels and agencies can analyze data to set up smart, dynamic pricing strategies for one-time events.

Occupancy 289

Occupancy Events Hotels Travel 289

Hospitality Net

MAY 15, 2023

hotel industry occupancy showed an expected and modest decline of 1.4 Performance remained strong relative to last year with occupancy of 65.2% As we move into the period between spring and the post-Memorial Day summer kickoff, U.S. percentage points (ppts) from the prior week. ppts from the matched week last year.

Occupancy 262

Occupancy Hotels 262

Hospitality Net

MARCH 4, 2024

hotels continued to see week-on-week occupancy growth, however, the rate of growth has slowed. The most recent level (62%) was the highest weekly occupancy of the year, up 2.8 As a lead up to spring, U.S. percentage points (ppts) from the prior week, but down 2.1ppts year over year (YoY).

Occupancy 245

Occupancy Travel Hotels 245

Hospitality Net

MAY 27, 2024

Occupancy was up 0.1 percentage points (ppts) at 67.4%, which was the highest weekly occupancy of 2024 but still 3.0 Once again group and midweek demand across the upper chain scales drove performance. The increase in RevPAR was driven almost entirely by average daily rate (ADR), which rose 2.6%. ppts below the 2019 comparable.

Average Daily Rate 241

Average Daily Rate Occupancy Scale Revenue 241

Hospitality Net

APRIL 29, 2024

Dubai’s hotel occupancy and average daily rate (ADR) reached elevated levels during Ramadan and Eid al-Fitr, according to recent data from CoStar.

Average Daily Rate 242

Average Daily Rate Real Estate Occupancy Hotels 242

Skift Blog

NOVEMBER 20, 2024

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

Revenue 274

Revenue Occupancy Tourism Travel 274

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 percent) and RevPAR (up 45.7

Occupancy 249

Occupancy Hotels Market Marketing 249

Hospitality Net

JUNE 5, 2023

hotel occupancy (66.8%) exceeded the matched week last year by a slim margin of 0.4 While generally unchanged for the week, there were changes by day of week pointing to stronger mid-week occupancy and softer weekend occupancy compared to last year. Weekly U.S.

Occupancy 237

Occupancy Hotels 237

Skift Blog

DECEMBER 13, 2023

Skift Take: Online travel agencies have been sued for occupancy taxes since 2004, before Airbnb's founding. Two decades later, the issue is ongoing around the world. Dennis Schaal Read the Complete Story On Skift

Occupancy 287

Occupancy Travel 287

Hospitality Net

MAY 23, 2023

hotel industry occupancy plateaued at 65.1%, basically matching the level achieved the week prior (65.2%). While average occupancy did not change, day-of-week dynamics tell a tale of two opposite forces. Travelers opted to stay home for Mother’s Day, putting a damper on weekend occupancy, which was down 4.7

Occupancy 228

Occupancy Travel Business Hotels 228

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. The positive revision is predicated on a 65-basis-point (bps) increase in expected occupancy compared with the previous forecast issued in February 2023.

Forecasting 264

Forecasting Average Daily Rate Occupancy Revenue 264

Lodging

APRIL 14, 2023

A record number of loyalty program members should help hotel brands lower their customer acquisition costs, increase direct-to-consumer engagement and offset any occupancy shortfalls during an economic downturn, according to a recent CBRE report. Loyalty members can help drive occupancy during off-peak periods or weaker economic conditions.

Occupancy 262

Occupancy Consumer Branding Hotels 262

Hospitality Net

MAY 30, 2023

hotel industry occupancy came in at 67.5%, which tied for the highest level of the year with 12-18 March 2023. Occupancy increased 2.4 percentage points (ppts) from the previous week but dipped 1.0 ppts year over year. Most of this decline was due to the calendar shift around Mother’s Day.

Occupancy 243

Occupancy Hotels 243