performance metrics
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...
Hotel Forecasting: Why It Is Important to Your Business
CoStar Group | October 4, 2024
Hotel forecasting plays a vital role in strategic decision-making, shaping both the short and long-term success of a property or portfolio. By understanding the key components and dynamics of accurate forecasting, hoteliers can implement more effective strategies, optimizing efficiency and maximizing profitability. This article is part of a series on hotel benchmarking data sets and use cases. Reach the other editions here: The hospitality industry’s historical KPIs | The role of profitability data in a comprehensive hotel benchmarking experience | Using business on the books in a complete benchmarking approach ...
U.S.Hotel Results for Week Ending 21 September
CoStar Group | September 26, 2024
WASHINGTON – 26 September 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 21 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 15-21 September 2024 (percentage change from comparable week in 2023): Occupancy: 68.9% (+0.5%) Average daily rate (ADR): US$168.80 (+2.0%) Revenue per available room (RevPAR): US$116.22 (+2.5%) Among the Top 25 Markets, Houston saw the highest year-over-year lift in occupancy (+10.7% to 69.0%). Driven by Dreamforce 2024, San Francisco...
U.S. Hotel Results for Week Ending 14 September
CoStar Group | September 20, 2024
WASHINGTON – 20 September 2024 – The U.S. hotel industry reported mostly negative year-over-year comparisons, according to CoStar’s latest data through 14 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 8-14 September 2024 (percentage change from comparable week in 2023): Occupancy: 66.6% (-1.7%) Average daily rate (ADR): US$162.05 (+0.2%) Revenue per available room (RevPAR): US$107.86 (-1.4%) Among the Top 25 Markets, San Diego saw the highest year-over-year increase in occupancy (+10.5% to 79.9%). Chicago reported the largest ...
U.S. Hotel Performance for August 2024
CoStar Group | September 19, 2024
WASHINGTON – 19 September2024 – The U.S. hotel industry reported lower performance results from the previous month but positive comparisons year over year, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. August 2024 (percentage change from August 2023): Occupancy: 66.9% (+1.5%) Average daily rate (ADR): US$157.84 (+2.3%) Revenue per available room (RevPAR): US$105.67 (+3.9%) Among the Top 25 Markets, New York City experienced the highest occupancy level (+5.2% to 87.3%). Markets with the lowest occupancy ...
Canada Hotels Record Highest Occupancy Since 2018
CoStar Group | September 19, 2024
WASHINGTON – 19 September 2024 – Canada’s hotel industry recorded its highest occupancy level for any month since August 2018, according to CoStar’s August 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. August 2024 (percentage change from 2023): Occupancy: 79.7% (+3.1%) Average daily rate (ADR): CAD235.85 (+3.6%) Revenue per available room (RevPAR): CAD187.93 (+6.8%) “After occupancy contracted marginally in July, the metric returned to a level normally seen prior to the pandemic,” said Laura Baxter, CoStar Group’s director o...
