hotel performance
77% of Global Markets Grew RevPAR Against Last Year, Japan Generating More Momentum
CoStar Group | October 24, 2024
Analysis by M. Brian Riley Note: All financial figures presented in US$. STR's global "bubble chart" update for the four weeks ending 12 October 2024 shows 77% of markets with year-over-year growth in revenue per available room (RevPAR). That was a substantial 14-point increase in the proportion of global hotel markets experiencing matched period RevPAR gains in last month's update Among countries with 50,000 rooms and sufficient hotel reporting levels, Greece ($255), Singapore ($241), Italy ($240), France ($232), and Switzerland ($196) posted the highest RevPAR on an actualized basis. That was the same set of countri...
IHG: Q3 Trading Update to 30 September 2024
IHG Hotels & Resorts | October 22, 2024
Highlights Q3 global RevPAR +1.5%, with Americas +1.7%, EMEAA +4.9% and Greater China -10.3% Q3 global rooms revenue on a comparable hotels basis saw Groups demand +6%, Business +2% and Leisure broadly flat on same quarter last year YTD global RevPAR +2.4%, with Americas +1.8%, EMEAA +6.4% and Greater China -5.6% Average daily rate +1.7% and occupancy -0.1%pts in Q3, +1.9% and +0.4%pts respectively YTD Gross system size growth +5.9% YOY, +3.7% YTD; opened 17.5k rooms (98 hotels) in Q3, representing another quarter of sequential improvement and very significantly ahead of the 7.7k in the same period last year Net system s...
Hotel Assets: The Dark Horse in Real Estate Investing
Dancong 'Dannie' Li | October 21, 2024
By Dancong 'Dannie' Li , Jingjianxiong 'Charlie' Shi , Monique Rosszell Introduction Once considered the 'underdog' in the world of real estate investing, the hotel sector has experienced a remarkable resurgence over the past decade, with a particularly significant upturn since 2021, driven by the surge of pent-up demand resulting from the pandemic. Hotels were often perceived as risky investments due to their seasonality and reliance on short-term leases (i.e., daily rentals). In comparison, the multifamily and office sectors have often been considered safer real estate investments due to the stability of rental income, their resilien...
Auckland Hotel Booking Levels Topping 80% for Upcoming Coldplay Concerts
CoStar Group | October 11, 2024
WASHINGTON – 11 October 2024 – Auckland hotel booking levels are as high as 84% for Coldplay’s ‘Music of the Spheres’ World Tour next month, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Over the course of October and November, Coldplay is set to perform 11 times across three markets in the region: Melbourne, Sydney, and Auckland. As of 30 September, Auckland was showing the highest levels in occupancy on the books, peaking at 84.1% for Friday, 15 November. That represents a 33.9% increase from the same time last ...
U.S. Hotel Results for Week Ending 5 October
CoStar Group | October 11, 2024
WASHINGTON – 11 October 2024 – Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 5 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 29 September through 5 October 2024 (percentage change from comparable week in 2023): Occupancy: 65.6% (-3.4%) Average daily rate (ADR): US$156.25 (-4.4%) Revenue per available room (RevPAR): US$102.44 (-7.7%) Among the Top 25 Markets, Tampa saw the highest year-over-year increases in occupancy (+24.1% to 81.3%) and RevPAR (...
Hospitality America Strengthening Its Tech Stack to Enhance Business Intelligence and Decision Making
Hospitality America | October 10, 2024
Wes Cargen returns as Vice President of Business Intelligence to spearhead the effort Greenville, S.C., October 10, 2024 — Hospitality America is investing in its technology infrastructure aimed at revolutionizing business intelligence across its hotel portfolio. The initiative will empower leaders at both the property and corporate levels with real-time insights, actionable data, and robust forecasting capabilities to facilitate proactive and agile management. Spearheading the effort is Wes Cargen, newly appointed vice president of business intelligence and former operations manager for the third-party management company. Most recently wi...
Cogwheel Analytics Announces Launch of Hotel Digital Marketing Benchmarking Scorecard
Cogwheel Analytics | October 2, 2024
Denver, CO – We are pleased to introduce our latest innovation, the Benchmarking Scorecard. This enterprise tool is crafted to transform how hotels assess their digital marketing performance. Tailored to meet the needs of hotel management companies, ownership groups and digital marketing agencies for both branded and independent hotels. The Benchmarking Scorecard allows you to compare your hotels’ performance indexes against key performance indicators of similar hotels. The Benchmarking Scorecard leverages the latest advancements in automation technology and integrates seamlessly with our existing business intelligence and descriptive ...
The Hotelier’s Guide to Operational Excellence in 2025
Otelier | October 2, 2024
The operational landscape continues to shift as hotels increasingly rely on data and efficiencies to stay competitive and meet guest expectations. This whitepaper explores five key areas where hotels can optimize operations, improve guest satisfaction, and drive profitability by harnessing data-driven tools and strategies. By examining five key areas of hotel operations, this whitepaper serves as a comprehensive roadmap for hoteliers looking to thrive in a data-driven world. It highlights how leveraging data and technology can lead to more efficient processes, better decision-making, and improved profitability. Below, hotel managers...
