occupancy
U.S. Hotel Results for Week Ending 26 October
CoStar Group | October 31, 2024
WASHINGTON – 31 October 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 26 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 20-26 October 2024 (percentage change from comparable week in 2023): Occupancy: 69.0% (+4.5%) Average daily rate (ADR): US$168.69 (+4.6%) Revenue per available room (RevPAR): US$116.32 (+9.3%) Among the Top 25 Markets, Tampa saw the largest occupancy lift (+28.1% to 84.2%), due to continued displacement demand from Hurricane Milton. New Or...
HVS ANAROCK MONITOR, October 2024
Dipti Mohan | October 29, 2024
Read the latest edition of the HVS ANAROCK monthly industry update, MONITOR (Monthly Overview of National Industry Trends and Hospitality Report), for the key trends in the Indian hospitality industry. Key highlights include: September 2024: Sustained demand growth has led to consistent improvements in occupancy rates across key markets in September 2024, compared to the same period last year During the month, the average rates showed varied trends across key markets. Q3 CY2024: An increase in occupancy rates was seen during Q3 CY2024 over the same period in CY2023, across all markets except Mumbai. Goa stands out as the...
U.S. Hotel Results for Week Ending 19 October
CoStar Group | October 24, 2024
WASHINGTON – 24 October 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 19 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 13-19 October 2024 (percentage change from comparable week in 2023): Occupancy: 70.1% (+1.6) Average daily rate (ADR): US$169.85 (+2.5%) Revenue per available room (RevPAR): US$119.01 (+4.2%) Among the Top 25 Markets, Tampa saw the largest occupancy lift (+23.6% to 83.7%), due to continued displacement demand from Hurricane Milton. Miami ...
77% of Global Markets Grew RevPAR Against Last Year, Japan Generating More Momentum
CoStar Group | October 24, 2024
Analysis by M. Brian Riley Note: All financial figures presented in US$. 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...
Canada Hotels Record First Occupancy Decline in Nine Months
CoStar Group | October 22, 2024
WASHINGTON – 22 October 2024 – Canada’s hotel industry recorded its first month-over-month occupancy decline since January 2024, according to CoStar’s September 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2024 (percentage change from 2023): Occupancy: 74.0% (-1.8%) Average daily rate (ADR): CAD227.99 (+2.6%) Revenue per available room (RevPAR): CAD168.69 (+0.8%) “Declines in both group and transient demand resulted in softer occupancy across Canada hotels,” said Laura Baxter, CoStar Group’s director of hospitalit...
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...
U.S. Election Impact on Global Travel and Hotel Performance
CoStar Group | October 21, 2024
Analysis by Kelsey Fenerty American outbound travel was much stronger than anticipated across European markets this year, in part due to mega events such as the Summer Olympics and Taylor Swift’s Eras Tour. With the summer months past us, conversations are now swirling around how the U.S. presidential election will impact tourism outside of North America. Less international travel is standard this time of year There will be fewer Americans abroad this autumn and winter, which is entirely normal. U.S. schools resumed between mid-August to early-September with corporate conference season following swiftly thereafter. The U.S. h...
U.S. Hotel Performance for September 2024
CoStar Group | October 21, 2024
WASHINGTON – 21 October 2024 – The U.S. hotel industry reported mixed performance results from the previous month, according to September 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (percentage change from September 2023): Occupancy: 64.6% (-2.5%) Average daily rate (ADR): US$162.63 (+1.2%) Revenue per available room (RevPAR): US$105.04 (-1.3%) Among the Top 25 Markets, New York City experienced the highest occupancy level (-0.8% to 87.0%), driven by the United Nations General Assembly, Fashion Week, and the...
