hotel occupancy
The Impact of Natural Disasters on Hotel Occupancy in Florida
Allison Fogarty | October 1, 2024
By Allison Fogarty For years, I’ve analyzed sharp fluctuations in hotel occupancy levels across several Florida markets, and one recurring explanation has been “disaster recovery.” In regions prone to hurricanes, fires, and floods, disaster recovery can significantly boost demand for hotels, even as some properties suffer damage or destruction. In the aftermath of Hurricane Helene, it's a timely reminder for lodging developers and analysts that the hospitality industry often experiences contrasting outcomes: while some hotels are devastated, others see a surge in demand. The Aftermath of Hurricane Helene Hurricane Helene touched grou...
U.S. Hotel Results for Week Ending 18 May
CoStar Group | May 23, 2024
WASHINGTON – 23 May 2024 – The U.S. hotel industry reported higher performance from the previous week and positive comparisons year over year, according to CoStar’s latest data through 18 May. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 12-18 May 2024 (percentage change from comparable week in 2023): Occupancy: 67.4% (+0.2%) Average daily rate (ADR): US$163.11 (+2.6%) Revenue per available room (RevPAR): US$109.93 (+2.8%) Among the Top 25 Markets, Houston saw the only double-digit occupancy lift (+10.5% to 67.9%). Atlanta reported the hig...
Canada Hotels Report First Occupancy Increase in Four Months
CoStar Group | May 23, 2024
WASHINGTON – 23 May 2024 – After four consecutive months of year-over-year declines, Canada’s hotel industry reported an increase in occupancy, according to CoStar’s April 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. April 2024 (percentage change from 2023): Occupancy: 64.0% (+2.7%) Average daily rate (ADR): CAD188.39 (+5.1%) Revenue per available room (RevPAR): CAD120.64 (+8.0%) “The year-over-year growth in occupancy suggests that downward pressure on hotel demand related to weaker economic conditions will not be linear, as the per...
US Solar Eclipse Hotel Occupancy Increases by Another 10 Percent
Amadeus | March 21, 2024
Amadeus Demand360+ data shows demand is still on the rise On April 8th, there will be a total solar eclipse that traverses North America. Being able to witness this from land is incredibly rare, with astronomers at NASA saying that it could be as long as 375 years before a similar event occurs in this North American pathway. Over the past few months, Amadeus has been tracking the impact of the eclipse on hotel booking patterns across America using forward-looking business intelligence data from Demand360+®. The highlights from the latest data drawn on February 29, 2024, are as follows: Average hotel occupancy across the 9 markets of...
Coldplay Concerts Drove Singapore Hotel Performance in January, Taylor Swift Up Next in March
CoStar Group | February 15, 2024
WASHINGTON – 15 February 2024 – Helped by Coldplay’s World of the Spheres Tour, Singapore hotels saw healthy performance growth, according to preliminary January data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. January 2024 (year-over-year % change): Occupancy: 72.8% (+9.6%) Average daily rate (ADR): SGD334.46 (+3.3%) Revenue per available room (RevPAR): SGD243.55 (+13.2%) Singapore posted its highest daily occupancy levels toward the end of the month, helped by six Coldplay performances that took place between 23-31 January. The ma...
U.S. Hotel Results for Week Ending 23 December
CoStar Group | January 2, 2024
WASHINGTON – 2 January 2024 – As anticipated ahead of the holidays, U.S. hotel performance fell from the previous week, according to CoStar’s latest data through 23 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 17-23 December 2023 (percentage change from comparable week in 2022): Occupancy: 43.9% (+0.5%) Average daily rate (ADR): US$131.97 (-0.9%) Revenue per available room (RevPAR): US$57.90 (-0.4%) Among the Top 25 Markets, Boston saw the largest year-over-year increases in occupancy (+21.5% to 46.2%) and RevPAR (+23.1% to US$65.68)....
Amadeus Data Reveals Los Cabos, Mexico to Be Top Hotel Destination for Christmas and New Year’s Travel
Amadeus’ Demand360+ | December 7, 2023
Unique forward-looking market insights show the top global destinations for holiday travel, with Mexico and APAC leading the way As we head towards the festive season, hoteliers are preparing for demand as people look to travel over Christmas and New Year’s Eve. Global technology provider Amadeus, with its unique forward-looking business intelligence data, is seeing a peak in demand over the Christmas and New Year period across major markets around the world. Amadeus’ Demand360+® data as of November 27, 2023, shows that global hotel occupancy for the weeks of Christmas and New Year’s is already at 23%. This is up 10 % fro...
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 ...
