Remove Average Daily Rate Remove Market Remove Revenue
article thumbnail

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. CoStar reports occupancy levels of 78.8% for December 2024, up 2.1% year over year, while ADR stood at AU$314.15 (+0.9%) and RevPAR at AU$247.43 (+3.0%).

article thumbnail

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

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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. percent) Among the Top 25 Markets, New York City experienced the highest occupancy level (up 3.3

article thumbnail

CBRE Forecasts Modest RevPAR Growth in 2025

Lodging

DALLAS, TexasCBRE forecasted that revenue per available room (RevPAR) will grow modestly in 2025, driven by the continued outperformance of urban locations benefiting from increased group and business travel, as well as a projected rise in demand for drive-to and regional leisure destinations. CBRE projected a 1.3 CBRE projected a 1.3

article thumbnail

Water Parks Boost APAC Hotels

Hotel Management

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. higher than regional averages. For instance, data reveals that hotels in Asia-Pacific with WhiteWater installations achieved a RevPAR 119.6%

article thumbnail

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

Lodging

For 2025, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were unchanged from the previous forecast, +1.6 WASHINGTONCoStar and Tourism Economics made minimal adjustments to growth projections in the first U.S. percent and +1.8 percent, respectively. Occupancy for the year was raised 0.1

article thumbnail

Rates drop in key New Zealand’s two largest cities

Hotel Management

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 average daily rate of NZ$673 that was reached on 31 December 2024.