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Record high room rates for Sydney hotels on NYE

Hotel Management

New Years Eve gave Sydney hotels plenty of cause for celebration on December 31. Sydney hotels pulled in record high average daily rate and revenue per available room on the night, according to December preliminary data from CoStar. 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. hotel forecast revision of 2024. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Hotel Forecast in Final Revision of 2024 appeared first on LODGING Magazine.

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Star Hotels snaps up Rydges Gold Coast Airport amid ongoing terminal upgrade

Hotel Management

Rydges Gold Coast Airport Hotel has been acquired and settled by Star Hotels, a division of Star Group, Queensland’s largest independently owned and operated pub and liquor retail group. The property will continue to operate as a Rydges hotel.

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Hotel Signings Remain Strong in India Despite Slow May – India Report

Skift Blog

Skift Take: We're always talking about growth in India, and the hotel industry has had a significant number of branded signings and openings this year. But in May, there was a significant decline in average daily rates and revenue per available room compared to April. Bulbul Dhawan Read the Complete Story On Skift

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How 'Live Tourism' Events Can Drive Business for Hotels

Skift Blog

Skift Take: The ongoing live tourism boom provides compelling opportunities for hotels to maximize revenue by boosting average daily rates, extending stays, increasing guest volumes, and building long-term growth and loyalty. Robin Gilbert-Jones Read the Complete Story On Skift

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CBRE Forecasts Modest RevPAR Growth in 2025

Lodging

percent increase in RevPAR for 2025, with occupancy and average daily rate (ADR) rising by 14 basis points (bps) and 1.2 CBRE projected a 1.3 percent year-over-year, respectively. This represents slightly softer […] The post CBRE Forecasts Modest RevPAR Growth in 2025 appeared first on LODGING Magazine.

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CoStar, TE Slightly Adjust Growth Projections in First U.S. Hotel Forecast of 2025

Lodging

hotel forecast of 2025 released at the Americas Lodging Investment Summit (ALIS). For 2025, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were unchanged from the previous forecast, +1.6 Hotel Forecast of 2025 appeared first on LODGING Magazine. percent and +1.8