adr
U.S. Hotel Results for Week Ending 20 July
CoStar Group | July 25, 2024
WASHINGTON – 25 July 2024 – The U.S. hotel industry reported higher performance results than the previous week and positive comparisons year over year, according to CoStar’s latest data through 20 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 14-20 July 2024 (percentage change from comparable week in 2023): Occupancy: 73.5% (+1.0%) Average daily rate (ADR): US$165.91 (+2.4%) Revenue per available room (RevPAR): US$122.02 (+3.4%) The U.S. RevPAR level was the highest for any week on record. Among the Top 25 Markets, Houston saw the high...
Growth in Room Rates Continues To Drive Canada Hotel Industry
CoStar Group | July 24, 2024
WASHINGTON – 24 July 2024 – Canada’s hotel industry achieved continued performance gains through average daily rate (ADR), according to CoStar’s June 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. June 2024 (percentage change from 2023): Occupancy: 74.5% (+0.5%) Average daily rate (ADR): CAD231.04 (+3.7%) Revenue per available room (RevPAR): CAD172.10 (+4.2%) “ADR continues to be the main driver of RevPAR improvement in Canada,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. “The 3.7% increas...
U.S. Hotel Performance for June 2024
CoStar Group | July 23, 2024
WASHINGTON – 23 July 2024 – The U.S. hotel industry reported improved performance results from the previous month, according to June 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. June 2024 (percentage change from June 2023): Occupancy: 69.6% (flat) Average daily rate (ADR): US$161.30 (+1.5%) Revenue per available room (RevPAR): US$112.33 (+1.5%) Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+2.5% to 87.8%), ADR (+4.4% to US$317.91) and RevPAR ...
Pick Up Your Calls to Pick Up More Bookings!
Doug Kennedy | July 23, 2024
The more important the trip, the more likely they are to pick up the phone. Despite the pundits’ predictions, the phones continue to ring with incoming reservations leads even now in the mid-2020s, and yes, even at branded hotels across all segments. I’m sure some readers are thinking “Well not us. The majority of our rooms are booked online.” Yet if you listen to real phone calls from real callers, as KTN’s QA team does daily through our remote call scoring process, you realize that many people call with questions before booking online, whether at an OTA or the hotel’s direct website. Other guests book first and then call wit...
An Immediate Way to Drive Revenue to Your Hotel’s Top and Bottom Lines
Don Farrell | July 19, 2024
By Don Farrell Who wouldn’t want to make a few hundred thousand more in immediate room revenue and see most of that go to the bottom line? In fact, it may be the largest account your hotel can go after, particularly if you are a focused service property. Where can you find this low-lying fruit and how can you harvest it? Your Single Largest Account is at your Front Desk by Converting More Reservation Inquiries And this is the best form of revenue…..the single room requests that come into your front desk in the form of phone inquiries and walk-ins. Imagine what losing one of your top accounts would look like. With front desk reser...
USALI Global Finance Committee Members Provide Hotel Reporting Guidance Following New California Bill Banning Hidden Fees
HFTP | July 19, 2024
Written by HFTP Publications — Contributor “Whether buying tickets to a concert or sporting event or booking a vacation or a hotel, Californians deserve to know exactly how much they’re being asked to pay, and not be surprised later by hidden junk fees,” said California Senator Nancy Skinner (D-Berkeley) in regard to a proposed bill she coauthored called Senate Bill 478 (SB 478), which has since been enacted and just took effect in the state earlier this month. Designed to protect consumers from hidden fees, businesses and sellers must, as of July 1, 2024, list the price of any good or service to include all mandatory charges ...
U.S. Hotel Results for Week Ending 13 July
CoStar Group | July 18, 2024
WASHINGTON – 18 July 2024 – The U.S. hotel industry reported higher performance results than the previous week but lower comparisons year over year, according to CoStar’s latest data through 13 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 7-13 July 2024 (percentage change from comparable week in 2023): Occupancy: 69.2% (-3.7%) Average daily rate (ADR): US$158.21 (-1.5%) Revenue per available room (RevPAR): US$109.51 (-5.2%) Among the Top 25 Markets, Houston saw the highest year-over-year increases in each of the three key performance met...
U.S. Hotel Results for Week Ending 6 July
CoStar Group | July 11, 2024
WASHINGTON – 11 July 2024 – Due to the Fourth of July, the U.S. hotel industry reported lower performance results from the previous week and mixed comparisons year over year, according to CoStar’s latest data through 6 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 30 June through 6 July 2024 (percentage change from comparable week in 2023): Occupancy: 61.3% (-0.9%) Average daily rate (ADR): US$157.27 (+0.5%) Revenue per available room (RevPAR): US$96.35 (-0.4%) Among the Top 25 Markets, New Orleans saw the highest year-over-year increases...