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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% The post Record high room rates for Sydney hotels on NYE appeared first on Hotel Management.
NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. For 2024, projected gains in averagedailyrate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Occupancy for the year was lowered 0.1 hotel forecast revision of 2024. percentage points to +1.5
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
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. percent) Among the Top 25 Markets, New York City experienced the highest occupancy level (up 3.3
But in May, there was a significant decline in averagedailyrates and revenue per available room compared to April. 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. Bulbul Dhawan Read the Complete Story On Skift
For 2025, projected gains in averagedailyrate (ADR) and revenue per available room (RevPAR) were unchanged from the previous forecast, +1.6 Occupancy for the year was raised 0.1 WASHINGTONCoStar and Tourism Economics made minimal adjustments to growth projections in the first U.S. percent and +1.8
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: RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019.
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. Recent RevPAR trends demonstrate that rate continues to be the primary driver of performance. Occupancy was downgraded slightly (by 0.2
According to Colliers Hotels New Zealand Hotel Market Snapshot for Q1, based on information from Hotel Data New Zealand, revenue per available room (RevPAR) was up 6.5% This follows a record averagedailyrate of NZ$673 that was reached on 31 December 2024. to NZ$239 in Queenstown for the year ending 31 March.
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. CBRE has revised its forecast for 2023 revenue per available room (RevPAR) to $97.89, up 6.0 percent year-over-year, and an increase of $0.43 from its previous forecast.
HENDERSONVILLE, Tennessee—Las Vegas hotel averagedailyrate (ADR) is forecasted to reach $573 for Feb. The market is projected for a Friday through Sunday night occupancy of 87.9 That level combined with an ADR of $573 would result in revenue per available room (RevPAR) of $504.
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. The problem is, this can actually hurt your brand, lower rate integrity, and compress margins. can result in a stable revenue stream.
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%
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).
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
Advanced Strategies to Maximize Revenue a. Dynamic Pricing: Real-Time Revenue Optimization c. Todays winners in hospitality are those who use tools like a Channel Manager not only to sync availability but to maximize revenue, streamline operations, and build a resilient digital strategy. A drop below 30% occupancy?
For 2024, growth in averagedailyrate (ADR) was raised by 0.1 percentage points, while occupancy and revenue per available room (RevPAR) were unchanged from the previous forecast. HENDERSONVILLE, Tennessee—STR and Tourism Economics made minimal adjustments to growth projections in the 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. However, the occupancyrate was slightly lower at 57.7 per-cent rise. per cent, a 0.5-per-cent
hotels experienced slight declines in occupancy but increases in averagedailyrates and revenue per available room. For the week ending May 24, 2025, U.S.
The occupancy projection for this year was lowered 0.2% from the previous forecast, but projections for averagedailyrate (ADR) and revenue per available room (RevPAR) were lifted 1.5% downgrade in occupancy coupled with a 0.7% and 1.3%, respectively. For 2024, a 1.4%
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. In December 2023, Sydney hotels achieved occupancy of 77.1%, up 9.9% increase year over year.
During the Santos Tour Down Under, between January 12-21, hotel occupancy reached 78.1%, while revenue per available room (RevPAR) increased 11.4% Over the three-week period of the Adelaide Festival, March1-17, alongside Adelaide Fringe, which ran from February 16 – March 17, hotel occupancy was up 6% yoy to 82.5%.
In fact, concert-goers often flood the local hotel market, with occupancyrates skyrocketing, and hotels seizing the opportunity to increase room rates due to heightened demand. This large influx of attendees, many traveling from neighboring countries, led to a 45% spike in hotel occupancy compared to regular weekends.
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.
The averageoccupancyrate for commercial accommodation increased across all states and territories in Australia in 2022 and was 65% on average across the year higher than in the past two years, which averaged 43% and 47%, but below the rate of 74% in 2019.
The occupancy projection for this year was lowered 0.2 percent from the previous forecast, but projections for averagedailyrate (ADR) and revenue per available room (RevPAR) were lifted 1.5 percent and 1.3 percent, respectively. […] The post STR, TE Update 2023 U.S.
Minor Hotels recorded 450% core net profit growth in 2023 compared to the previous year, after reaching a new full-year core revenue record of THB 121.4 Revenue was up 25% on 2022 figures with topline total system sales reaching THB 157 billion (approx. The post Major result for Minor Hotels as group hits record global revenue of US$3.4
hotels experienced a downturn in occupancy, averagedailyrate, and revenue per available room. 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.
hotel industry's weekly report up to 17th May shows a slight decrease in occupancy but an increase in averagedailyrate (ADR) and revenue per available room (RevPAR).
Occupancy levels for the month of August were reported to be 80.7%, a 26.0% year-over-year increase, while the Averagedailyrate (ADR) was AU$261.83, up 9.0%. Revenue per available room (RevPAR) was AU$211.19 in the month of August, representing a 37.3% year-over-year increase.
The right sales tactics can help increase revenue, boost occupancyrates , and ensure guests have a positive experience. By encouraging guests to book directly through your website, you can keep more of the revenue and build stronger relationships with your guests.
Secondly, international travel continued to bounce back, and the hotel sector in Asia continued to show strong revenue growth. 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.
hotel growth in 2024 shows downgraded projections for averagedailyrate (ADR), revenue per available room (RevPAR), and occupancy. The final forecast revision for U.S.
Group bookings are calculated using occupancy and averagedailyrate (ADR.) Q3 data shows that 13 of the top markets have recovered 100% of group revenue, including: Tampa 116.8% Q3 data shows that 13 of the top markets have recovered 100% of group revenue, including: Tampa 116.8%
Ive been in the revenue game for 20+ years, and let me tell you nothing grinds my gears like watching hotels leave money on the table. So, Im calling the mistakes out Here are 5 brutal revenue management mistakes I see hotels make all the time as a CEO of a revenue management consulting firm. Not because of the market.
The rate of growth in occupancy, averagedailyrate and revenue per available room decelerated considerably in Q2, with room rate fatigue effecting growth in the higher-priced hotel categories.
Sydney WorldPride 2023 drove the market’s hotel averagedailyrate (ADR) and revenue per available room (RevPAR) above pre-pandemic levels, while occupancy remained slightly below 2019, according to preliminary data from STR.
Averagedailyrate (ADR) remains an important metric to talk about within the hotel industry. ADR, which stands for averagedailyrate, is the average income per occupied room your hotel makes in a set period of time. The formula for ADR is generally presented as room revenue / number of rooms sold.
The rate of growth in occupancy, averagedailyrate (ADR) and revenue per available room (RevPAR), while robust, continued to decelerate. Luxury hotel occupancy benefitted from increased demand, while ADR growth levels for lower priced properties continued to show significant improvements.
Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, averagedailyrate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back.
The research shows these features could add around 12% to the averagedailyrate (ADR) charged by the hotel, which could increase revenues by over $5,300 per room*, per year, for an average mid-range hotel chain looking to sell these extra features. The channels now driving travel are changing too.
Optimizing Revenue per Available Room (RevPAR) is one of the key focuses of most hoteliers. Navigating the complex world of revenue management requires innovative solutions. While dedicated revenue management software is a component of this process, all of your technology must work together to increase your bottom line.
In comparison to the same week in 2022, occupancy came in at 64.2 per cent); AverageDailyRate (ADR) came in at US$155.33 (up 4.7 per cent); and Revenue Per Available Room (RevPAR) came in at US$99.67 (up 8.6 Among the top 25 markets, Minneapolis saw the highest YOY increase in occupancy (up 17.4
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