hotel occupancy
Qatar – Beyond the World Cup
Maria Quintero | October 23, 2023
By Maria Quintero The 28-day soccer event was a major success for Qatar. A cumulative of 3.4 million football fans attended the tournament and average occupancy across stadiums was recorded as 96.3%. The country welcomed 1.18 million international visitors, representing 412% and 318% year-on-year increase throughout November and December. Hotels and resorts achieved the highest-ever performance, registering a marketwide ADR of QAR 2,112 and RevPAR of QAR 1,281 in December 2022, a 328% and 286% year-on-year increase, respectively. Nonetheless, months after Argentina cheerfully lifted the trophy, for some, the uncertainty remains: what ...
U.S. Hotel Industry Reports Higher Performance for September 2023
CoStar Group | October 18, 2023
WASHINGTON – 18 October 2023 – The U.S. hotel industry reported higher performance results from the previous month, according to September 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2023 (percentage change from September 2022): Occupancy: 66.2% (-0.5%) Average daily rate (ADR): US$160.18 (+3.5%) Revenue per available room (RevPAR): US$106.07 (+2.9%) Among the Top 25 Markets, New York City experienced the highest occupancy level (87.6%), which was up 1.6% year over year. Markets with the lowest occupancy for the mo...
London Hotel Performance Growth Moderated in September
CoStar Group | October 12, 2023
WASHINGTON – 12 October 2023 – With the summer travel surge concluded, London’s hotel industry showed more normalized levels of growth, according to preliminary September 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2023 (year-over-year % change): Occupancy: 84.3% (+3.1%) Average daily rate (ADR): GBP208.51 (+2.6%) Revenue per available room (RevPAR): GBP175.75 (+5.7%) Measured against strong performance in September of 2022, the ADR and RevPAR increases were London’s lowest this year. The market’s occupancy ...
Dubai Hotels Posted Highest September Occupancy Since 2016
CoStar Group | October 12, 2023
WASHINGTON – 12 October 2023 – Dubai’s hotel industry posted its highest September occupancy since 2016, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2023 (year-over-year % change): Occupancy: 77.6% (+10.0%) Average daily rate (ADR): AED457.21 (+2.7%) Revenue per available room (RevPAR): AED354.94 (+13.5%) In addition to the high occupancy, ADR was Dubai’s highest for a September since 2017. Daily data shows the highest occupancy levels during the last three days of the month, led by Fri...
U.S. Hotel Results for Week Ending 30 September
CoStar Group | October 6, 2023
WASHINGTON – 6 October 2023 – As expected, U.S. hotel performance was lower than the previous week, but year-over-year comparisons were improved, according to CoStar’s latest data through 30 September. 24-30 September 2023 (percentage change from comparable week in 2022): Occupancy: 66.7% (+0.8%) Average daily rate (ADR): US$157.89 (+4.6%) Revenue per available room (RevPAR): US$105.31 (+5.4%) Occupancy was up year over year on the positive side of the Rosh Hashanah calendar shift. At the same time, the Yom Kippur observance led to lower levels on weekdays. The Top 25 Markets saw solid growth across all days of ...
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...
Double Digit Growth in Global Hospitality Industry for Q4, With Europe Leading the Way
AMADEUS | September 27, 2023
2023 global hotel occupancy levels are trending 10% ahead of 2022 with Q4 on-the-books reservations up 11% over last year, according to Amadeus data There is a sense of buoyancy in the global hospitality industry as we head into the fourth quarter of 2023. According to new Demand360® business intelligence data from travel technology leader Amadeus, global hotel occupancy levels up to the end of August 2023 have been an average of 10% ahead of 2022. For the fourth quarter of 2023, worldwide on-the-books occupancy data reveals that reservations are trending 11% ahead of those seen in 2022. In a further boost to hoteliers, global revenue pe...
HVS Outlook Fall 2023: Discovering a New Normal
Anne R. Lloyd-Jones | September 18, 2023
By Anne R. Lloyd-Jones, McKenna Luke The strong growth that characterized the last three quarters of 2022 continued through Q1 2023 to complete a full twelve months of recovery. Despite inflation, an active Fed, and persistent recessionary concerns, the lodging industry continued to benefit from robust leisure and “bleisure” demand, supplemented by accelerating group demand. Overall, total demand exceeded 2019 levels beginning in September 2022, and this trend continued through March 2023. Trends through the middle of the year have been mixed. Occupancy levels remained relatively stable to modestly lower from April through August 2...
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