hotel room rates
U.S. Hotel Performance Enchanted by Taylor Swift’s “The Eras Tour”
STR | June 12, 2023
Analysis by M. Brian Riley The hotel industry knows concerts “all too well,” as they have long been one of the top catalysts for high occupancy nights and premium room rates. That dynamic has been center stage over the last three months, as Taylor Swift’s “The Eras Tour” added $98.2 million in room revenue to the U.S. hotel industry. Remaining tour dates over the rest of the summer are also leading to spikes in bookings. Methodology The U.S. leg of the tour began in mid-March and will conclude in August. To measure the impact at the tour’s halfway point, STR analyzed hotel performance for the nights of the first 28 shows ...
West Palm Beach Among Priciest Destinations in Florida, Survey Reveals
Cheaphotels.org | February 3, 2023
MIAMI, Feb. 3, 2023 -- West Palm Beach is the third most expensive destination in Florida for hotel stays, according to a new survey by CheapHotels.org. The survey compared hotel rates across 30 popular Florida destinations for the period February-March 2023 – typically the high season for most destinations in the Sunshine State. In West Palm Beach, travelers will have to spend an average of $425 per night for the most affordable double room. Only hotels located close to the beach (or in downtown) and rated at least 3 stars were considered for the survey. Only Sarasota and Marco Island, the latter a barrier island located...
Adjusting for Inflation: Should You Raise Your Hotel Room Rates?
David Millili | February 1, 2023
By David Millili If you’ve scanned through the top news stories of the last few months, you’re likely well acquainted with the post-pandemic elephant in the room: record-high inflation. As expected, the collective (and prolonged) halt of global economies, the subsequent critical supply chain disruptions, and the ongoing war in Ukraine has placed significant pressure on the economic outlook. With inflation staying low over the last ten years (1.88% on average), the current rise (8% annual average in 2022) has begun to make ripples across industries, and hospitality is no exception. The latest set of inflation data, which the Bureau...
US Online Hotel Room Rates Edge up 1.5% from a Year Ago this May
e-forecasting.com | June 15, 2016
Durham, New Hampshire USA - Hotel room rates in the top-25 most popular U.S. destinations are averaging $216.25 this May, up from $213.85 in April, according to trivago hotel price indices¹ (tHPI) released today. The U.S. online average daily rate (oADR), the industry's best analytic for competitive pricing, currently ranges among the top-25 destinations from a high of $380 to a low of $123 this May. Based on industry surveys, e−forecasting.com estimates that in 2016 about 65% of all reservations are made online via brand websites and travel agent merchant websites, compared with only one-fourth eight years ago. On year-over-...
