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Record high room rates for Sydney hotels on NYE

Hotel Management

Sydney hotels pulled in record high average daily rate and revenue per available room on the night, according to December preliminary data from CoStar. New Years Eve gave Sydney hotels plenty of cause for celebration on December 31. CoStar reports occupancy levels of 78.8% for December 2024, up 2.1%

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STR, TE Downgrade U.S. Hotel Forecast in Final Revision of 2024

Lodging

NASHVILLE—STR and Tourism Economics ​downgraded the growth rate in the final U.S. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 hotel forecast revision of 2024. percentage points to +1.5 percent and down 0.6 ppts to +1.4 percent, respectively.

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Rates drop in key New Zealand’s two largest cities

Hotel Management

This follows a record average daily rate of NZ$673 that was reached on 31 December 2024. In Wellington, occupancy and average daily rates are down due to the central Governments reduction in spending but we do not see this as a long-term shift and expect demand to bounce back in line with the broader New Zealand economy.

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Water Parks Boost APAC Hotels

Hotel Management

Properties equipped with aquatic attractions like water slides and play areas consistently outperform their counterparts in revenue metrics such as Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR). higher than regional averages.

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Origin, Lifetimes Tour drive record results for Perth in June, CoStar reports

Hotel Management

Perth posted its highest June average daily rate (ADR) and revenue per available room (RevPAR) on record, driven by sporting events and concerts, according to preliminary data from CoStar. Hotel occupancy was its highest for the month of June since 2015 at 77.7% for the month, up 8.6%

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Australian travellers drive RevPAR increase across The Tasman, Howarth HTL reports

Hotel Management

star segment recorded a significant 22% year-on-year increase in Average Daily Rate (ADR) with rates averaging NZ$405 for these premium properties, driving the overall 15% rise ADR for the market. Occupancy in this segment reached close to 78%.

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CoStar: U.S. ADR and RevPAR Growth Slowed to 2020 Rate in 2024

Lodging

hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the countrys growth rate was its lowest since the declines of 2020, according to CoStars 2024 year-end data. WASHINGTONThe U.S. percent) RevPAR: $99.94 (up 1.8 percent to 84.3 […] The post CoStar: U.S.