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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. New Years Eve gave Sydney hotels plenty of cause for celebration on December 31. 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. 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

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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%

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Rates drop in key New Zealand’s two largest cities

Hotel Management

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 average daily rate of NZ$673 that was reached on 31 December 2024. to NZ$239 in Queenstown for the year ending 31 March.

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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. WASHINGTONThe U.S. percent) RevPAR: $99.94 (up 1.8 percent to 84.3 […] The post CoStar: U.S.

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Origin, Lifetimes Tour drive record results for Perth in June, CoStar reports

Hotel Management

Perth posted its highest June average daily rate (ADR) and revenue per available room (RevPAR) on record, driven by sporting events and concerts, according to preliminary data from CoStar. Hotel occupancy was its highest for the month of June since 2015 at 77.7% for the month, up 8.6%

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How to maximize hotel revenue without discounting

Hotel Speak

The cherry on top is that it preserves your average daily rate (ADR) while elevating the guest experience, satisfaction, and loyalty. Instead of putting discounts everywhere, you could create loyalty programs, offer member only rates, and offer bespoke incentives. can result in a stable revenue stream.