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performance metrics

Home/Tag: performance metrics

performance metrics

performance metrics

U.S. Hotel Results for Week Ending 2 September

CoStar Group | September 8, 2023

WASHINGTON – 7 September 2023 – Following seasonal patterns, U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 2 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 27 August through 2 September 2023 (percentage change from comparable week in 2022): Occupancy: 62.7% (+0.2%) Average daily rate (ADR): US$150.52 (+1.8%) Revenue per available room (RevPAR): US$94.38 (+2.0%) Among the Top 25 Markets, Minneapolis saw the largest year-over-year inc...

U.S. Hotel Results for Week Ending 19 August

CoStar Group | August 24, 2023

WASHINGTON – 24 August 2023 – Following seasonal patterns, U.S. hotel performance declined from the previous week but showed most positive comparisons year over year, according to CoStar’s latest data through 19 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 13-19 August 2023 (percentage change from comparable week in 2022): Occupancy: 67.0% (-0.1%) Average daily rate (ADR): US$154.10 (+1.8%) Revenue per available room (RevPAR): US$103.22 (+1.8%) Among the Top 25 Markets, San Francisco saw the largest year-over-year occupancy increase (+...

Dubai Surpasses Pre-Pandemic International Visitation Levels in the First Half of 2023, With 20% Year-on-Year Growth

Dubai's Department of Economy and Tourism (DET) | August 23, 2023

NEW DELHI and DUBAI, UAE, Aug. 23, 2023 -- As per the latest data released by Dubai's Department of Economy and Tourism, it shows that the city is steadily advancing towards its goal of becoming the world's most visited destination. Dubai welcomed 8.55 million international visitors from January to June 2023, exceeding the pre-pandemic figure of 8.36 million tourists in H1 2019. Record H1 performance contributes to the goal of the Dubai Economic Agenda D33, which is to consolidate Dubai's status as one of the world's top three cities. It remains a first-choice destination for global travellers, with the city's hotels outperforming a...

U.S. Hotel Performance for July 2023

CoStar Group | August 21, 2023

WASHINGTON – 21 August 2023 – The U.S. hotel industry reported mixed performance results month over month, according to July 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. July 2023 (percentage change from July 2022): Occupancy: 69.1% (-0.5%) Average daily rate (ADR): US$160.31 (+1.3%) Revenue per available room (RevPAR): US$110.80 (+0.8%) Among the Top 25 Markets, San Diego experienced the highest occupancy level (86.5%), which was up 2.6% year over year. Markets with the lowest occupancy for the month included New Orleans (...

U.S. Hotel Results for Week Ending 12 August

CoStar Group | August 17, 2023

WASHINGTON – 17 August 2023 – U.S. hotel performance declined from the previous week but showed mostly positive comparisons year over year, according to CoStar’s latest data through 12 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 6-12 August 2023 (percentage change from comparable week in 2022): Occupancy: 68.3% (flat) Average daily rate (ADR): US$156.47 (+2.0%) Revenue per available room (RevPAR): US$106.89 (+2.0%) Among the Top 25 Markets, Los Angeles saw the largest year-over-year growth in each of the key performance metrics: occup...

STR, TE Lower Growth Forecast for U.S. Hotels

STR | August 10, 2023

NASHVILLE—STR and Tourism Economics lowered their year-over-year growth projections in the revised 2023-24 U.S. hotel forecast just presented at the 15th Annual Hotel Data Conference. For 2023, growth in revenue per available room (RevPAR) was lowered by 0.5 percentage points, due to a 0.6ppt downgrade in occupancy growth. While that RevPAR growth remains above the long-term historical average, most of the increase was frontloaded to the early portion of the year. For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy. Average daily rate (ADR) was upgraded 0.1ppts for 2023 but kept flat for ...

Labor Costs Kept U.S. Hotel GOPPAR Down in June

Costar Group | August 4, 2023

Labor costs reached highest growth rate of pandemic-era WASHINGTON – 4 August 2023 – U.S. hotel gross operating profit per available room (GOPPAR) fell year over year for a second consecutive month, according to CoStar’s June 2023 P&L data release. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. June 2023 per-available-room metrics (% change from June 2022) GOPPAR: US$91.37 (-1.4%) TRevPAR: US$237.12 (+4.8%) EBITDA PAR: US$66.78 (-5.6%) LPAR (Labor Costs): US$75.48 (+13.4%) “Labor costs continued to rise year over year, growing nearly th...

Global Hotel Industry Faces Mixed Fortunes Amid Rising Costs and Varied Demand

HotStats | August 3, 2023

The global hotel industry is experiencing mixed fortunes as it navigates the post-pandemic landscape. In the United States, the Gross Operating Profit (GOP) margin has seen a year-on-year (YOY) decline of three percentage points (ppt), primarily due to a three ppt increase in total labor cost margin and a 0.5 ppt rise in utilities cost margin. This has led to a 1% ($1.25) YOY drop in Gross Operating Profit Per Available Room (GOPPAR). Undistributed expenses, including Sales and Administration & General (A&G) expenses, have surged by 12.9% YOY, reversing the savings made in these areas during the pandemic. Specific cost items such a...

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