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NYU Conference: STR upgrades 2023 forecast, with ADR and RevPAR set to increase

Hotel Management

from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5% While top-line performance advances, growing operating expenses are projected to limit profit growth over the remainder of the year. The occupancy projection for this year was lowered 0.2%

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How to maximize hotel revenue without discounting

Hotel Speak

But a lot of hoteliers have gotten stuck in a loop of constantly slashing prices, offering direct channel discounts, OTA promotions, and special rate packages to drive occupancy. The problem is, this can actually hurt your brand, lower rate integrity, and compress margins. That feels way more special, right?

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Analysis: what investors want in South East Asia, according to JLL’s APAC chief

Hotel Management

Localized in Southeast Asia, RevPAR levels are just below 2019 levels by less than 2%, driven by high average daily rates (ADRs) as the market saw a shift in consumers’ willingness to pay for quality both product and experience.

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Phoenix forecasted for second-highest hotel RevPAR in Super Bowl history

Hotel Business

The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. Demand speaks for itself, especially with consumer behavior around the event free of pandemic concerns—unlike the last two Super Bowls. Even with 11.7%

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Running Up That (Inflationary) Hill: Why Hotel Profits Still Lag Behind

HotStats

When compared against the Consumer Price Index (CPI), which continues to trend upward, it becomes clear that inflation has silently eroded much of the apparent progress. Even as hotels report higher average daily rates and nominal revenues, GOPPAR has not kept pace with the increased cost base.

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Growth in Room Rates Continues to Drive Canada’s Hotel Industry

Hotelier Magazine

WASHINGTON — Canada’s hotel industry achieved continued performance gains through Average Daily Rate (ADR), according to CoStar’s June 2024 data. per cent) Average Daily Rate (ADR): $231.04 (up 3.7 With more mortgages being renewed at much higher interest rates, Canadians are feeling the pinch.

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Rise in hotel room rates outpaces inflation

Boutique Hotel News

UK: According to data from RSM Hotels Tracker, hotel room rates have increased by 13 per cent for the year to February 2023, beating the rate of inflation at 10.4 UK hotel occupancy rates were up from 56.1 That means that consumer spending will also probably drop after the one per cent q/q fall in Q3 2022.”