hotel performance
Six Nations, St. Patrick’s Day Drove Dublin Hotel Occupancy in March
CoStar Group | April 10, 2024
WASHINGTON – 10 April 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. March 2024 (year-over-year % change): Occupancy: 81.0% (+0.2%) Average daily rate (ADR): EUR164.04 (-5.5%) Revenue per available room (RevPAR): EUR132.81 (-5.3%) The market’s highest daily occupancy level was seen on Saturday, 16 March (98.6%)—the night of the final round of the Six Nations champi...
Eras Tour Led to March Records for Singapore Hotels
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – The host of six Taylor Swift concerts, Singapore’s hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 79.1% (+5.1%) Average daily rate (ADR): SGD358.91 (+12.7%) Revenue per available room (RevPAR): SGD284.03 (+18.5%) Historically, Q1 and Q2 daily occupancy levels are lower post-Chinese New Year and prior to events pick...
Jeddah Room Rates Jumped During Formula One
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – Helped by the annual Saudi Arabian Grand Prix, Jeddah’s hotel industry reported performance growth across the metrics, according to March preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 66.3% (+2.2%) Average daily rate (ADR): SAR929.94 (+3.2%) Revenue per available room (RevPAR): SAR616.63 (+5.5%) Jeddah hosted the 2024 Saudi Arabian Grand Prix between 7-9 March, which drove daily performance in the market. Occupancy was the highest on Wed...
More Global Hotel Markets Growing RevPAR
STR | March 25, 2024
Analysis by Eddie Yeung Note: All financial figures presented in US$. STR's global "bubble chart" update as of 9 March 2024 shows that 77% of markets increased revenue per available room (RevPAR) from the comparable period in 2023, which was 4% more than the last update. Occupancy and average daily rate (ADR) were also steadily higher than last year. Among countries with 50,000 rooms and adequate hotel reporting levels, Singapore, the United Arab Emirates, France, Switzerland, and New Zealand led in RevPAR on an actual basis. Singapore recorded the highest ADR at $284, which was 17% higher year over year as the market hosted Tayl...
European Hotel Values See Modest Rise in 2023 but Fail to Reach Pre-Pandemic Levels, Reveals Latest HVS Valuation Index
HVS | March 11, 2024
11 March 2024, London: Hotel values across Europe remained steady in 2023 buoyed by the consolidation of the post-pandemic recovery and a steady desire to travel keeping average room rates strong, according to the annual European Hotel Valuation Index (HVI) published this week by global hotel consultancy HVS. These influences combined to offset the impact of a number of geopolitical challenges including the war in Ukraine, the war between Israel and Hamas and the shaky Chinese economy as well as increasing operating costs and high interest rates. The result was a modest uplift in hotel values of around 1% across Europe keeping them...
Will 2024 Go Up, Down or Sideways for Hoteliers?
Robert Rauch | March 6, 2024
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74% of Global Markets Increased RevPAR to Start 2024
CoStar Group | February 27, 2024
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2024 Total Solar Eclipse: How Will the Hotel Performance Impact Stack Up to 2017?
CoStar Group | February 16, 2024
In early-April 2024, a Total Solar Eclipse will once again pass over cities across North America and drive an influx of spectators in need of overnight accommodations. That means a lift in hotel performance is once again on the horizon, but there are key differences from the last Total Eclipse in 2017. With a duration of totality almost double that of the eclipse in August 2017, the number of spectators looking to be a part of the experience is expected to increase. The eclipse will also reach more larger hotel markets than 2017, which means more available rooms and more well-known destination offerings for travelers to ...
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