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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 occupancyrates 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%
Following this wave of additions, higher debt cost and construction costs are anticipated to suppress the development pipeline, with activity being largely limited to key strategic sites usually having mixed use appeal. In addition, the new wave of supply is anticipated to play a role in driving rate performance over the next two years.
In short, they largely do, which could spell another strong year for Southeast Asia’s hotel industry from both an occupancy and investment point of view. There is some stress in the market which can favor incoming investors, and a slowdown in the development pipeline helps reduce the high level of supply growth.
New locations Lyf is currently present in 21 cities globally, with over 5,500 units both operating and in the pipeline. “Our ambition for Lyf, alongside our other brands, is to expand horizons, pushing boundaries across geographies while deepening our local presence in current and new locations.”
Sydney’s hotel market is the top performer nationally with occupancy above 75%, an averagedailyrate (ADR) above AU$300 and revenue per available room (RevPAR) above AU$200, according to STR and Colliers. Brisbane – the only market in Australia where occupancies are trending higher than 2019 – is another top performer.
Averagedailyrate +4.1% vs 2019; occupancy +4.1%pts rooms (123 hotels) in Q3, +27% vs 2022; global pipeline of 292k rooms (1,978 hotels), +5.1% Averagedailyrate +4.1% vs 2019; occupancy +4.1%pts Occupancy was 72%, up 0.7% vs 2019), while rate was up 3.1% (up 14.8%
vs 2019, with Americas +6.8%, EMEAA (0.1)% and Greater China (20.0)% Averagedailyrate +13% vs 2021, +11% vs 2019; occupancy +8%pts vs 2021, -6%pts vs 2019 Gross system size growth +4.3% rooms (51 hotels) in Q3, similar to Q2 and ahead of Q1 Underlying removal rate -1.7% Q3 group RevPARa +28% vs 2021; +2.7%
Recovery: A Mixed Bag STR’s latest data highlighted the UK’s global leadership in hotel occupancy, boasting a robust 77%. While occupancy remains impressive, it’s ADR (AverageDailyRate) that’s driving the real growth story here. Robert Shrimsley, Financial Times 2. in 2023 to 29.7%
WASHINGTON — Canada’s hotel AverageDailyRate (ADR) and Revenue Per Available Room (RevPAR) were the highest for any year on record, according to CoStar’s 2023 data. In 2023 (percentage change from 2022): Occupancy: 65.7 In 2023 (percentage change from 2022): Occupancy: 65.7 per cent (up 7.7 per cent (up 7.7
When asked to rate their top business objectives that are driving technology investment, 41% of hoteliers cited their desire to increase occupancy. Survey respondents also said data fragmentation (33%), data efficiency (32%), and data integrity (30%) are among the biggest challenges faced in business intelligence today.
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. per cent (up 7.7
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