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NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. hotel forecast revision of 2024. For 2024, projected gains in averagedailyrate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 percentage points to +1.5 percent and down 0.6 ppts to +1.4
WASHINGTONCoStar and Tourism Economics made minimal adjustments to growth projections in the first U.S. hotel forecast of 2025 released at the Americas Lodging Investment Summit (ALIS). For 2025, projected gains in averagedailyrate (ADR) and revenue per available room (RevPAR) were unchanged from the previous forecast, +1.6
HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for averagedailyrate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. Recent RevPAR trends demonstrate that rate continues to be the primary driver of performance.
STR and Tourism Economics have upgraded the 2023 United States hotel forecast, released at the 45th Annual NYU International Hospitality Industry Investment Conference in New York this week (June 5). from the previous forecast, but projections for averagedailyrate (ADR) and revenue per available room (RevPAR) were lifted 1.5%
HENDERSONVILLE, Tennessee—STR and Tourism Economics made minimal adjustments to growth projections in the first U.S. hotel forecast of 2024 at the Americas Lodging Investment Summit (ALIS). For 2024, growth in averagedailyrate (ADR) was raised by 0.1 Hotel Forecast of 2024 appeared first on LODGING Magazine.
This follows a record averagedailyrate of NZ$673 that was reached on 31 December 2024. In Wellington, occupancy and averagedailyrates 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.
NEW YORK—STR and Tourism Economics upgraded the 2023 U.S. hotel forecast at the 45th Annual NYU International Hospitality Industry Investment Conference. percent from the previous forecast, but projections for averagedailyrate (ADR) and revenue per available room (RevPAR) were lifted 1.5 percent and 1.3
STR and Tourism Economics lifted year-over-year growth projections for averagedailyrate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023.
The final forecast revision for U.S. hotel growth in 2024 shows downgraded projections for averagedailyrate (ADR), revenue per available room (RevPAR), and occupancy.
Amadeus, a leading provider of travel technology solutions, and UN Tourism , have released a new report with comprehensive data on travel in Asia Pacific. The report presents a detailed analysis of passenger traffic and capacity trends from March 2023 to February 2025 and provides a forecast extending to August 2025.
hotel forecast Second-quarter slowdown and macroeconomic headwinds weigh on RevPAR outlook, with modest recovery expected in the second half of the year Jun 12, 2025 Consulting firm PwC has revised its 2025 U.S. hotel performance forecast downward, citing economic uncertainty, geopolitical tensions, and a soft second quarter.
For 2024, projected gains in averagedailyrate (ADR) were downgraded 0.1 percentage points, while revenue per available room (RevPAR) was held steady at +2.0% year over year.
Localized in Southeast Asia, RevPAR levels are just below 2019 levels by less than 2%, driven by high averagedailyrates (ADRs) as the market saw a shift in consumers’ willingness to pay for quality both product and experience. Trading should recover further, whilst real estate headwinds may ease.
STR and Tourism Economics lifted year-over-year growth projections for averagedailyrate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023.
STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for averagedailyrate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022.
STR and Tourism Economics lowered their year-over-year growth projections in the revised 2023-24 U.S. hotel forecast presented at the recent 15th annual Hotel Data Conference. While that RevPAR growth remains above the long-term historical average, most of the increase was frontloaded to the early portion of the year.
“Investors have consistently shown an appetite to play larger in the hotel sector in Asia Pacific and we see no signs that activity will wane in the last quarter of 2024, making us increase our investment volume forecast to $12.2 Given that investor interest is unlikely to wane, JLL forecasts in total sales of $4.7
One of the main challenges for hotels is creating accurate forecasts in the short, medium, and long term. Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. But traditional forecasting models no longer cut it.
According to the latest forecast by CoStar Group and Tourism Economics, U.S. The forecast also predicts a 1.6-per-cent per-cent growth in the AverageDailyRate, with an occupancy level of 63.1 The forecast suggests that the luxury RevPAR is expected to grow by 2.9 HENDERSONVILLE, Tenn.
Averagedailyrate (ADR) was upgraded 0.1ppts for 2023 but kept flat for 2024. For 2023, growth in revenue per available room (RevPAR) was lowered by 0.5 percentage points, due to a 0.6ppt downgrade in occupancy growth. For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy.
Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. For hotel managers and the industry as a whole, accurate forecasting is not just beneficial—it’s essential for maintaining competitiveness and profitability in a dynamic market.
First launched in September 2019, Crossroads Maldives is one of the most pivotal projects in the history of the Maldivian tourism industry. Just four months after its initial soft-opening, SO/ Maldives reached an occupancy of almost 60% in February, and expected averagedailyrates (ADR) in the region of US$750-$850 for 2024.
Niche OTAs let you target specific markets like eco-tourism or regional travel an excellent complement to the big OTAs. Identify high-performing channels, forecast demand, monitor acquisition cost per booking, and refine your strategy in real time. 5) Multi-Property and Group Benefits Managing a chain?
Canadas hotel industry reported positive performance year-over-year, driven by growth in room rates, according to January data from CoStar. per cent) AverageDailyRate (ADR): $180.04 (up 2.7 CoStar and Tourism Economics most recent forecast for 2025 projects RevPAR growth of two per cent, with a 1.8-per-cent
Sales and revenue-related tax documents: VAT/GST/sales tax returns , documents on hotel/room occupancy taxes , tourism levies, merchant transaction reports for card payments. Financial planning and forecasting The key to financial planning and forecasting? mortgage or loan interest statements.
WASHINGTON — Canadian hotels witnessed a significant landmark in October 2024, as the AverageDailyRate (ADR) surpassed $200 for the first time ever, according to data from CoStar. October’s occupancy rate was 68.5 Meanwhile, the lowest occupancy rate was recorded in Prince Edward Island at 58.2 The ADR rose by 2.4
Canada’s hotel industry reported its highest AverageDailyRate (ADR) and Revenue Per Available Room (RevPAR) for any month on record, according to CoStar’s July 2023 data. STR and Tourism Economics’ most recent forecast has been upgraded, with full-year ADR expected to be up 8.6 HENDERSONVILLE, Tenn.
UK: The UK’s travel and tourism sector is expected to see a boost of more than £200 million as a result of King Charles III’s Coronation weekend [6-8 May] and fortnight around those dates, as consumers travel across the country to celebrate with friends and millions across the UK make the journey to London to catch a glimpse of the historic event.
Bangkok, Thailand – It was a lucrative Songkran festival for Thai hotels as the average cost of a hotel room surged by 33% during the festival period in April. Between April 11-18, the averagedailyrate in Thailand increased to THB 5,421 (US$148), from THB 4,087 (US$120) in the corresponding period last year.
per cent); AverageDailyRate (ADR) came in at $197.10 (up 15 per cent) and Revenue Per Available Room (RevPAR) came in at $136.32 (up 25.7 STR and Tourism Economics launched an updated forecast in June and the new version remains similar to the last, projecting full-year occupancy to return to 2019 levels this year.
The contribution to GDP of the tourism industry on the whole is currently 1.6% (Statista). Other figures from Statista are as follows: Australia’s hotel segment specifically is forecasted to see revenues of US $6.75 According to Tourism Australia, there were 2.2 billion and is expected to grow by 13.3% in 2023 (IBISWorld).
Why eCommerce is important for lodging operators According to Statista , 69% of total revenue from the global travel and tourism market is booked online, representing approximately $475 billion in revenue in 2022 and forecasted to surpass $521 billion in 2023. Keep online listings current and consistent.
By Nicole Di Tomasso According to Avison Young’s Canada Hotel Market Report, Canada’s hotel industry demonstrated a strong recovery in 2023, surpassing pre-pandemic levels in key performance indicators (KPIs) such as AverageDailyRate (ADR), Revenue Per Available Room (RevPAR) and occupancy. billion, up from $3.09
Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. An annual revenue growth rate of 4.2%
Adjusting your room prices based on real-time forecasts and competitor data means you can seize every revenue opportunity, irrespective of whether you’re in a period of low or high demand. Some destinations may be evergreen tourism hotspots, while others may have fluctuations due to a newer craze.
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