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New Years Eve gave Sydney hotels plenty of cause for celebration on December 31. Sydney hotels pulled in record high averagedailyrate 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%
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 Hotel Forecast in Final Revision of 2024 appeared first on LODGING Magazine.
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.
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 averagedailyrates and revenue per available room compared to April. Bulbul Dhawan Read the Complete Story On Skift
Skift Take: The ongoing live tourism boom provides compelling opportunities for hotels to maximize revenue by boosting averagedailyrates, extending stays, increasing guest volumes, and building long-term growth and loyalty. Robin Gilbert-Jones Read the Complete Story On Skift
percent increase in RevPAR for 2025, with occupancy and averagedailyrate (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.
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 Hotel Forecast of 2025 appeared first on LODGING Magazine. percent and +1.8
hotel industry reported record-high averagedailyrate (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.
TROY, Michigan—With an averagedailyrate (ADR) for a U.S. hotel room of $158.45 in October 2023 —virtually every traveler in every hotel price bracket is paying more for a hotel room. Power: 2024 NAGSI Study Shows Travelers Are Paying More for Hotel Rooms appeared first on LODGING Magazine.
Hotels in Asia-Pacific with water park amenities achieve higher revenues and guest satisfaction, demonstrating the growing trend of aquatic attractions as key to enhanced resort performance. For instance, data reveals that hotels in Asia-Pacific with WhiteWater installations achieved a RevPAR 119.6% higher than regional averages.
Powering hotels can be expensive. Energy accounts for 6 percent of all operating costs; on average, U.S. hotels spend $2,196 annually per available room on this line item, according to a report from the EPA’s ENERGY STAR program. But energy efficiency brings benefits beyond boosting the bottom line.
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.
Hotels in Queenstown, Christchurch and Rotorua have enjoyed a strong start to the year with increased room rates, driven by an uptick in international visitors, while New Zealands main centres of Auckland and Wellington saw a decline. This follows a record averagedailyrate of NZ$673 that was reached on 31 December 2024.
hotel industry posted its highest averagedailyrate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar. Hotel Performance During 2023 Percentage change from 2022:Occupancy: 63.0% (+0.6%)ADR: WASHINGTON—The U.S. ADR: US$155.62 (+4.3%)RevPAR:
RevPAR increase across the nations hotels during the month of April, according to Horwath HTL and Hotel Council Aotearoa data. The latest report, New Zealand Hotel Performance Focus, shows that this growth was achieved despite ongoing declines in key urban markets such as Auckland and Wellington.
DALLAS—CBRE is again raising its forecast for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains. Averagedailyrate (ADR) […] The post CBRE Raises Hotel Performance Forecast to Reflect Demand and Supply Growth appeared first on LODGING Magazine.
Group bookings are calculated using occupancy and averagedailyrate (ADR). The third quarter of this year shows the top 25 U.S. markets have recovered 99.1 percent for group business compared to the same time in 2019.
HENDERSONVILLE, Tennessee—Las Vegas hotelaveragedailyrate (ADR) is forecasted to reach $573 for Feb. 9-11, 2024, which would be the highest level for any Super Bowl weekend on record, according to STR. The market is projected for a Friday through Sunday night occupancy of 87.9
Hotel Industry Records Mixed Performance in April 2025, CoStar Data Reveals - The U.S. hotel industry reported a slight decline in occupancy rates in April 2025, with averagedailyrates showing a modest increase. Article - U.S.
Australias hotel sector is on track for a full recovery by the end of 2025, with all major cities recording occupancy growth, according to new CBRE data. National occupancy rates sit at 71%, up 2% year-on-year, while averagedailyrate (ADR) remains stable at AU$240 and revenue per available room (RevPAR) is up 3.8%
More than 120 hoteliers from New South Wales hotels were in attendance for the recent Accommodation Australia NSW Hotel Market and Economic Outlook Update at Hilton Sydney. The post NSW hoteliers buoyed by AA market outlook appeared first on Hotel Management.
May 22, 2025: AMT (By FANGCANG Group), the corporate hotel management and advertising platform, will support hotels to directly advertise to targeted corporate customers and travel management companies. This partnership reflects our focus to meet the unique needs of our hotel partners.
April 2025 saw a generally positive trend in the hotel industry across the Asia Pacific, with 10 out of 16 major countries reporting growth in occupancy, averagedailyrate (ADR), and revenue per available room (RevPAR).
As part of HM’s 2023-24 Development Outlook, CBRE Hotels Managing Director – Capital Markets, Michael Simpson, and Pacific Head of Hotels Research, Ally McDade, discuss the challenges and opportunities that lie ahead in the Australian hotel market.
percent increase in RevPAR for 2025, with occupancy and averagedailyrate (ADR) rising by 14 basis points (bps) and 1.2 This represents slightly softer […] The post CBRE Hotels Forecasts Modest RevPAR Growth in 2025 appeared first on LODGING Magazine. CBRE projected a 1.3 percent year-over-year, respectively.
Peak industry body Accommodation Australia (AA) has raised concerns over cuts to Victoria’s tourism marketing budget, saying the move will impact visitation to the state and ‘sends the wrong message’ to hotel investors. Accommodation Australia National Chair, David Mansfield, said the move will have a direct impact on hotels.
hotel forecast of 2024 at the Americas Lodging Investment Summit (ALIS). For 2024, growth in averagedailyrate (ADR) was raised by 0.1 For 2025, growth projections for each of the key performance metrics were downgraded due to the long-term, average trends beginning to […] The post STR, TE Adjust First U.S.
According to data from CoStar, Canadas hotel industry witnessed a record-breaking performance in February 2025, with the highest AverageDailyRate (ADR) and Revenue Per Available Room (RevPAR) for any February to date. HENDERSONVILLE, Tenn. The ADR for February was $189.27, a 4.2-per-cent per-cent rise. per cent, a 5.5-per-cent
Australia’s boutique hotel market is booming amid increased demand for unique and personalised stays. CBRE’s market analysis found that boutique properties have outperformed ‘big box’ international hotels on occupancy levels, AverageDailyRate (ADR) and Revenue Per Available Room (RevPar) since the onset of the pandemic in 2020.
hotels experienced slight declines in occupancy but increases in averagedailyrates and revenue per available room. For the week ending May 24, 2025, U.S.
Group bookings are calculated using occupancy and averagedailyrate (ADR). The fourth quarter of 2023 demonstrated that group business in 10 of the top U.S. markets has recovered 110 percent compared to the same time in 2019.
Sydney hotels had much cause to celebrate as 2023 drew to a close with record results achieved in the month of December. Helped by a New Year’s Eve Sydney’s hotel industry, Sydney’s hotel industry recorded its highest monthly averagedailyrate (ADR) on record, according to December preliminary data from property analytics platform CoStar.
Leading figures in the South Pacific’s hotel and tourism industry will gather on Fiji’s Denarau Island for the inaugural AHICE Fiji Islands Summit , as the nation’s tourism market continues to thrive. The post Speakers revealed for inaugural AHICE Fiji Islands summit appeared first on Hotel Management. Register for the 2024 event now.
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 Hotel Forecast ADR and RevPAR Projections appeared first on LODGING Magazine.
We have also seen incredible growth in yield (AverageDailyRate and RevPAR) and occupancy. This has led to our Deputy Prime Minister declaring Fiji needs 5000 new hotel beds to cater for demand. Register now for AHICE Fiji Islands Investment in Tourism Summit.
And hotels and resorts have definitely caught on to this, offering tons of discounts to get people to book. 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. Okay, so we all love a good deal, right?
First quarter worldwide RevPAR grew 34 percent year over year, with meaningful gains in both occupancy and averagedailyrate. Anthony Capuano, president and CEO, said, “We are off to a great start in 2023. International markets were particularly robust, with RevPAR growth of 63 percent.
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%
Hotels in cities across the UK are experiencing a significant boost in bookings and averagedailyrates (ADR) as Kylie Minogue’s 2025 Tension tour approaches, according to new data from SiteMinder
What is ADR (AverageDailyRate)? ADR , or averagedailyrate, is a key metric used to calculate a hotel’s profitability. It demonstrates the averagerate hoteliers can charge for a room during a certain period on any given day.
Amsterdam’s hotel industry reported its highest averagedailyrate (ADR) and revenue per available room (RevPAR) for any month on record, according to preliminary April 2023 data from STR.
Skift Take: India's hotel industry has gaps and enough potential to warrant significant growth over the next few years. But whether the players will be able to capitalize is a different question altogether. Bulbul Dhawan Read the Complete Story On Skift
The Index combines event data from Knowland by Cendyn with hotel booking data from Amadeus Demand360 business intelligence solution to provide aggregate views of the key drivers of hotel performance. percent increase in averagedailyrate (ADR) with ten consecutive quarters of growth. percent Philadelphia 117.1
Hotel Industry Faces Challenges With Declines in Key Performance Metrics for the Week Ending 31 May - For the week ending May 31, 2025, U.S. hotels experienced a downturn in occupancy, averagedailyrate, and revenue per available room. Article - U.S.
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