Almost Half of Global Hotel Markets Recovered RevPAR With Challenging 2023 Ahead

STR | January 26, 2023

STR’s global bubble chart update for 2022 shows resilient performance and plenty of momentum to face a challenging 2023 ahead. Almost half of the STR-defined markets around the world fully recovered revenue per available room (RevPAR) to 2019 levels. Among the 64 countries with room supply of more than 50,000 rooms, Jamaica, Israel, Cyprus, Switzerland, and Singapore were the top five performers on an absolute RevPAR basis in 2022. In most regions, performance was driven more by hotel prices while occupancy lagged pre-pandemic levels. Israel led all countries with an average daily rate (ADR) of more than US$300. On the downs...