revenue per available room
U.S. Hotel Results for Week Ending 2 December
CoStar Group | December 7, 2023
WASHINGTON – 7 December 2023 – As expected, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 2 December. 26 November through 2 December 2023 (percentage change from comparable week in 2022): Occupancy: 54.2% (-1.6%) Average daily rate (ADR): US$144.88 (+0.8%) Revenue per available room (RevPAR): US$78.54 (-0.8%) Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (+6.8% to 83.5%) and RevPAR (+17.2% to US$319.18) Las Vegas posted the largest ADR lift (+11.2% to US$232.94). Due to the Miami Art Week/Art Base...
U.S. Hotel Performance for October 2023
CoStar Group | November 22, 2023
WASHINGTON – 22 November 2023 – The U.S. hotel industry reported mixed performance results from the previous month, according to October 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. October 2023 (percentage change from October 2022): Occupancy: 65.8% (-1.8%) Average daily rate (ADR): US$161.56 (+3.0%) Revenue per available room (RevPAR): US$106.38 (+1.2%) Among the Top 25 Markets, New York City experienced the highest occupancy level (86.8%), which was up 3.0% year over year. Markets with the lowest occupancy for the month in...
Canada Hotels Recorded Double-Digit RevPAR Growth in October
CoStar Group | November 22, 2023
WASHINGTON – 22 November 2023 – Following seasonal patterns, Canada’s hotel performance fell month over month, but continued a stretch of year-over-year growth, according to CoStar’s October 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. October 2023 (percentage change from October 2022): Occupancy: 68.1% (+2.2%) Average daily rate (ADR): CAD196.25 (+8.8%) Revenue per available room (RevPAR): CAD133.57 (+11.2%) “Following three months of single-digit, year-over-year growth, RevPAR grew double-digits for the first time since June,” ...
Canadian Lodging Outlook Quarterly 2023-Q3
HVS | November 22, 2023
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (Occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further information, please contact: [email protected] or +1 (615) 824-8664 ext. 3504. HVS Canada performs major portfolio appraisals and single-asset consulting assignments and valuations from coast to coast. Our professional team ...
STR, TE Upgrade U.S. ADR and RevPAR Forecast
STR | November 20, 2023
HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. For 2023, growth in RevPAR was raised by 0.3 percentage points, due to a 0.6ppt lift in ADR growth. Recent RevPAR trends demonstrate that rate continues to be the primary driver of performance. Occupancy was downgraded slightly (by 0.2ppts). For 2024, the growth projections for each of the key performance metrics remained flat from the previous forecast due to the above long-term average trends beginning to stabilize. ...
CBRE Hotels Expects RevPAR Growth Recovery Following Summer Slowdown
CBRE Group, Inc. | November 16, 2023
Dallas – November 16th, 2023 – CBRE is forecasting revenue per available room (RevPAR) growth to recover in 2024 as inbound international travel further improves and sector-specific headwinds moderate. CBRE’s forecasts 3.0% RevPAR growth in 2024, driven by a 40 basis-point (bps) occupancy improvement and a 2.3% average daily rate (ADR) increase. RevPAR in 2024 is expected to be 14% greater than 2019 levels. CBRE’s baseline forecast anticipates 0.8% average GDP growth and 2.9% average inflation in 2024. Given the strong correlation between GDP and RevPAR growth, stronger or weaker economic growth will directly impact lodging indu...
Riyadh Hotel ADR and RevPAR Reached Record Highs in October
CoStar Group | November 14, 2023
WASHINGTON – 14 November 2023– Riyadh’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) level on record, according to October 2023 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. October 2023 (year-over-year % change): Occupancy: 77.5% (+8.0%) Average daily rate (ADR): SAR1,055.28 (+38.3%) Revenue per available room (RevPAR): SAR818.05 (+49.3%) Riyadh’s hotel performance was helped by the World Combat Games, held 20-30 October and the Future Investment Initiative...
Madrid Hotels Post Highest ADR and RevPAR on Record in October
CoStar Group | November 14, 2023
WASHINGTON – 14 November 2023 – Madrid’s hotel average daily rate (ADR) and revenue per available room (RevPAR) reached the highest monthly levels on record, according to October 2023 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. October 2023 (year-over-year % change): Occupancy: 81.9% (+2.0%) Average daily rate (ADR): EUR204.35 (+23.1%) Revenue per available room (RevPAR): EUR167.26 (+25.6%) The market’s occupancy level was the highest for any month since October 2019. According to the daily data, Madrid saw...
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