RevPAR Growth Slowed Globally, Ireland Occupancy Breaks 90%, and China Recovery Softens
CoStar Group | September 28, 2023
Analysis by Eddie Yeung STR's global “bubble chart” update as of 16 September 2023 showed 86% of markets with growth in revenue per available room (RevPAR) compared to 2019. With summer travel season winding down in many parts of the world, this figure was expectedly lower than the previous update (by 2%) but well above the 2022 comparable (66%). Among all countries with a total supply of more than 50,000 rooms, Israel, France, Greece, Singapore, and Italy led in RevPAR on an actual basis. Greece sustained the top spot for the third consecutive 28-day period. Five countries recorded an occupancy rate above 80%—Irelan...
U.S. Hotel Performance Increased for Week Ending 23 September
CoStar Group | September 28, 2023
WASHINGTON – 28 September 2023 – U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 23 September. 17-23 September 2023 (percentage change from comparable week in 2022): Occupancy: 68.5% (-1.6%) Average daily rate (ADR): US$164.97 (+2.9%) Revenue per available room (RevPAR): US$112.96 (+1.2%) Occupancy remained down year over year due to the Rosh Hashanah calendar shift. Among the Top 25 Markets, Minneapolis saw the largest year-over-year occupancy increase (+7.4% to 71.3%). Helped by the United Nations General Assembly, New York City posted the highest jumps...
HVS ANAROCK Hotels & Hospitality Overview, September 2023
Akash Datta | September 28, 2023
By Akash Datta, Dipti Mohan, Dhwani Gupta Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry. Key highlights include: In August 2023, domestic air passenger traffic grew by nearly 23% year-on-year, marking the sixth consecutive month that domestic air traffic in the country has surpassed pre-COVID levels. Country-wide occupancy remained at similar levels from the previous month, indicating demand normalization. India-wide average rates are rising steadily, with a year-on-year growth of 13-5% in August 2023. Even be...
Catalysts for Growth – Tech Hubs Are Powering the Indian Hotel Industry’s Growth
Mandeep S Lamba | September 27, 2023
By Mandeep Lamba, Dipti Mohan, Dhwani Gupta The Indian technology industry, valued at a staggering USD 245 billion as of FY23, is a formidable pillar supporting the country’s GDP and overall economic growth. With continuous innovation driving its growth, this industry is poised to reach USD 500 billion by 2030. As one of the primary beneficiaries of the tech industry's influence, the hospitality sector is bound to experience the positive ripple effects of this growth. Tech hubs have globally been a catalyst for the hospitality sector’s expansion, attracting tech professionals, entrepreneurs, and business travelers in droves, which...
Fall Break and Homecoming Scheduling Provides Hotel Demand Opportunities Across the U.S.
STR | September 26, 2023
Analysis by Brannan Doyle School is now fully in session in the U.S., and upcoming fall schedules are the first opportunity this season for hoteliers to capitalize on an influx of traveling students and their families. More specifically, the hotel industry can plan on peak fall break demand during the first half of October 2023. Fall break, already STR’s thorough database of public school districts showed 11 September to be the latest K-12 start date of the year—except for those districts delayed due to contract disputes. Those starting during the second week of September were fringe cases as comparisons with a similar dat...
NTTO Updates U.S. States and Cities Visited Monitor to Calendar Year 2022
International Trade Administration | September 26, 2023
The International Trade Administration’s National Travel and Tourism Office (NTTO) has updated its U.S. States and Cities Visited Monitor, a data visualization tool highlighting overseas visitation to U.S. states and cities through interactive tables and maps, to calendar year 2022. Highlights for 2022 include: Top state visited by overseas visitors: Florida (7,145,000) Top city-MSA visited by overseas visitors: New York City (6,992,000) Biggest # gain of overseas visitors from 2021: New York (+5,034,000) Biggest % gain of overseas visitors from 2021: Guam (+1,928%) Top 5 states’ combined market share: 90.8% of oversea...
Business Travel in Asia Pacific Poised for Significant Rebound in 2023, Spending Forecast To Reach Almost $800 Billion by 2027
GBTA | September 25, 2023
GBTA reveals regional outlook data and insights during its sold-out 2023 GBTA APAC Conference held this week in Singapore After challenging years due to the pandemic, for 2023 and beyond, business travel in Asia Pacific is forecast for significant growth, with travel spending gaining 41% to USD $567 billion this year ─ and rising to $800 billion by 2027. China’s reopening and robust domestic demand will be a big catalyst for the growth. Solid rebound is also anticipated in Japan, South Korea, and Australia, along with the return of international business travel, which is anticipated to boost Singapore, Hong Kong and Malaysia. ...
UK Travel & Tourism Sector Now Worth More Than Quarter of a Trillion Sterling Says WTTC
The World Travel & Tourism Council | September 25, 2023
London, UK: The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the UK Travel & Tourism sector is forecast to exceed the 2019 peak this year. The sector is set to contribute £252.4BN to the UK economy this year, surpassing the 2019 pre-pandemic high of £248.5BN. WTTC is also forecasting that the sector will create almost 380,000 jobs this year, recovering almost all of the jobs lost due to the COVID 19 pandemic to reach more than 4MN, with around one in nine workers in the UK, in the Travel & Tourism sector. International visitor spend to the UK is forecast to reach £26.18BN...
1
Technology
2
Appointments/People on the Move
3
Operations
4
Industry Happenings
5
All Things Independent
Today's News
How Travelers Find Destinations for Their Trips
6 Marketing Tactics To Boost Revenue at Your Hotel Restaurant
RevPAR Growth Slowed Globally, Ireland Occupancy Breaks 90%, and China Recovery Softens
U.S. Hotel Performance Increased for Week Ending 23 September
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.