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CBRE’s From Runway to Room Nights report found that 56 new routes have added 10,500 annual flights into key Australian cities, which could lift Australia’s hotel occupancy by an average of 3.4% CBRE Hotel’s Troy Craig says supply constrained markets such as Brisbane, Perth and Cairns are particularly well positioned to benefit.
Australia’s hotel sector, whilst choppy, continues to demonstrate remarkable resilience with national occupancy rates at 71% and RevPAR up 3.8% Scott Boyes, Trilogy Hotels Sydney leads the recovery charge with occupancy at 78% and RevPAR growing to an impressive $215, making this market our standout performer.
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 average daily rate (ADR) remains stable at AU$240 and revenue per available room (RevPAR) is up 3.8%
and occupancy also ticking up slightly. Regional highlights: The Northeast and Central regions led the country in occupancy growth at 1.3%, as cities like New York, Chicago and Nashville benefited from both leisure and business travel. From April 2024 to March 2025, U.S. hotels saw RevPAR rise 2.4%, ADR increase 1.9%
TORONTO Canadas hotel investment market saw significant growth in 2024, with total transaction volume reaching $2 billion, a 16 per cent year-over-year increase, according to Colliers INNvestment Canada Hotel Report Q4 2024. Overall occupancy levels remained flat, increasing by just 0.1 per cent year-over-year. travel is anticipated.
growth in international markets. He added, “In the fourth quarter, worldwide RevPAR rose 5%, driven by gains in both ADR and occupancy. from year-end 2023, as the company added roughly 109,000 net rooms globally during 2024, including more than 45,000 net rooms in international markets. Marriott International Inc.
. “All segments drove RevPAR outperformance, with strong trends in leisure occupancy, as well as continued growth in business transient and group results, and we expect favorable trends to continue into 2025. compared to the same period in 2023 due to increases in both occupancy and ADR. 31, 2023 Diluted EPS was $2.06
Occupancy and ADR are predicted to rise by 14 bps and 1.2% This represents slightly softer growth than had been anticipated in CBREs February forecast, which projected 2% RevPAR growth, based on a 21-bps boost in occupancy rates and a 1.6% CBRE forecasts a 1.3% year-over-year, respectively. increase in ADR.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotel marketing. So the three that you mentioned, hospitality, travel, and wellness, are the markets that I have the privilege of running. I mean, the market’s in an interesting spot. I’m your host, Ryan Embree.
With more than 20 years of high-end industry experience, prior to Woods Bagot, Cross held leadership roles such as Principal Architect at KPF, Design Director at Prime Development, and Director at Squire and Partners, where he gained understanding in the UK, European, and Middle Eastern markets.
Occupancy has a strong foothold in the Canadian marketplace today, said Nguyen, forecasting that 2025 will be a year of moderation with limited room for occupancy growth and slower ADR momentum. per cent in 2024, 2025 will likely bring more muted gains, with supply returning to pre-COVID levels in key markets.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotel marketing. Now, it might be social media now, it might be chat, GBT or other AI technologies to essentially create an entire itinerary for you without taking one look at any of your digital marketing. Hello everyone.
The company forecasts a 2% increase in RevPAR growth in 2025, with occupancy improving by 23 basis points (bps) and ADR increasing by 1.6%. hotel market is poised for steady growth in 2025, primarily led by continued outperformance of the urban segment, which should experience RevPAR growth of 2.8%
Reach an annual occupancy of 90%”). Industry Analysis Information on the current industry trends and the current state of the market and how this will impact your hotel. Customer Analysis In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details.
From selecting the right location to managing construction and hiring staff, the pre-opening phase is about laying the groundwork. Instead, start with 3–5 well-chosen OTAs that cater to your target market and region. Offer personalized pricing for niche markets, like long-stay guests or special events.
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. Melbourne is the primary recipient of new room supply (35% of total).
Following an initially strong recovery in demand following international border openings in mid-2022, demand growth slowed in most New Zealand hotel markets from early 2024. This will provide a boost to the market, particularly outside the peak periods when it is desperately needed.
With a little creativity and lots of data and insights, low occupancy periods can be more efficiently managed Low occupancy is largely driven by seasonality with off-peak times being marked by fewer bookings and even lower forward bookings. To conclude Optimising revenue during low occupancy doesn’t have to be difficult.
In the hotel’s first week, even without a heavy marketing campaign, occupancy was circa 60% with one night over the weekend hitting 80% occupancy due to compression on the CBD, thanks to the hotel’s close proximity, Hunt shared. Elsewhere in the Australia Pacific region, Marriott is experiencing strong growth. “I
Almost a year on from the opening of its first Australian property in Melbourne’s trendy inner-city suburb of Collingwood, and with another under construction in Bondi Junction, the brand is exploring further opportunities for growth – in dynamic metropolitan neighbourhoods. We’re not aiming to be this high-end lifestyle brand.
“Every decision is grounded in meeting current market trends and future needs of our modern-day travellers.” The Collingwood property has seen occupancy double to 72% and RevPAR grow by $50 in Q1 FY23, when compared to the opening three months May-July FY22. Ascott is aiming for a mid-2025 opening.
Evolving market With the rise of the sharing economy, the vacation ownership model is evolving with more and more instances of shared ownership of vacation properties, Robinson said. What’s affecting our growth is the cost of construction and the price of flying interstate.
Veriu Group CEO, Zed Sanjana, and developer Tim Gurner are celebrating a successful first six months of Veriu Collingwood, with the apartment hotel garnering strong occupancy and room rates since opening. A lot of the target [market] was around project-focused corporate opportunity. It is a mix. More and more so.
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. Register for the 2024 event now. The post Speakers revealed for inaugural AHICE Fiji Islands summit appeared first on Hotel Management.
Market challenges Upward pressure on construction costs There’s no doubting the last few years have been challenging ones for the property sector, which has experienced significant increases in the price of commercial construction since the pandemic.
Accor Pacific is anticipating continued growth in travel and development activity in the Queensland market following a positive result for its network in the first half of the year. occupancy points to 70.7% Leisure markets are slightly ahead of last year (+0.4 Leisure markets are slightly ahead of last year (+0.4
Hotel occupancy, which is at a market average of 70%, is up 15% year-on-year, but remains down (-9%) on pre-pandemic levels. Rotorua’s hotel occupancy rate showed the most improvement, up 39% compared to 2022, slightly ahead of Queenstown, which was up 38%, and higher again than Auckland, which has had a 33% lift.
What is hotel construction? Hotel construction refers to the process of designing, planning, financing , and building new hotel properties, or significantly renovating existing ones. Table of contents Why does hotel construction cost so much? Construction projects are notoriously prone to overruns.
San Juan is one of the strongest RevPAR markets in the U.S., with consistently strong occupancy and a healthy growth trajectory,” said Bhatia. San Juan trails only New York City and the Hawaiian island of Oahu in average occupancy, commanding a 74.7% This is the first investment outside the continental U.S.
The corporate and MICE hotel sectors are evolving rapidly, driven by shifting market demands and emerging trends. Hybrid spaces that can host large conferences and provide exceptional leisure experiences are on the rise, allowing owners to maximize occupancy and rates throughout the week.
A year on from opening in April 2022, boutique Queenstown hotel The Carlin is celebrating increasing occupancy amid a strengthening luxury tourism market locally.
Marketing strategies in the hotel sector are designed to enhance brand visibility and broaden reach. A r obust local SEO strategy helps travelers find your hotel when they’re searching for accommodations in your vicinity, making it a critical component of your digital marketing efforts. Let Mediaboom guide you.
January 2025 (percentage change from 2024) Occupancy: 49.8 Among the provinces and territories, British Columbia recorded the highest occupancy level (52.9 Among the major markets, Vancouver saw the highest occupancy (60.7 The lowest occupancy among provinces was reported in Prince Edward Island (28.5 per cent).
4 (percentage change from comparable week in 2019*): Occupancy: 55.3% (-7.3%) ADR: $145.35 (+13.9%) RevPAR: $80.45 (+5.6%) While none of the top 25 markets saw an occupancy increase over 2019, Las Vegas came closest to its 2019 comparable (-1.4% The market also reported the highest ADR (+79.5% 29 through Feb. to $69.47).
Year-to-date, we’ve returned over $250 million to shareholders, representing 4% ofour beginning market capitalization this year.” RevPAR results were driven by growth of 90 basis points in occupancy, partially offset by a decline of 50 basis points in ADR. APAC occupancy declined 7% and ADR declined 5%. In the U.S.,
ANZ’s Tim Addison countered by observing that “non-banks are seen as semi-complementary to the market.” On the back of over 90% hotel occupancy and $8.3 Salter Brothers’ Joel Zanoni reminded the packed room that “borrowers sitting outside the bank criteria can still find funding”. Don’t go to the bank and say, ‘we’re in trouble’.
Consumers have always appreciated a well-priced product or service that delivers good value – and in our current market, good value can be felt through an experience of well-being, an appreciation of good design, or genuine, heartfelt service. Tribe is another fast-growing brand in the midscale segment.
the company lapped the most difficult YOY comparisons during the first quarter, resulting in a decline of 440 basis points in occupancy and 50 basis points in ADR. Internationally, the company generated YOY RevPAR growth for the first quarter in all regions primarily driven by continued pricing power, with ADR up 12% and occupancy up 2%.
Since 2020, WichitaÕs hotel market has experienced a rebound in occupancy and average rate, supported by strong levels of leisure and commercial travel.
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 (Average Daily Rate) that’s driving the real growth story here. Robert Shrimsley, Financial Times 2. See also: The State of Hospitality 2024 (Free Report) 3.
in international markets, compared to the same period last year. First quarter worldwide RevPAR grew 34% year-over-year [YOY], with meaningful gains in both occupancy and ADR,” said Anthony Capuano, president/CEO. “International markets were particularly robust, with RevPAR growth of 63%. . & Canada and 63.1%
in international markets. For the year, the company added more than 65,000 rooms globally during 2022, including approximately 40,000 rooms in international markets and nearly 17,500 conversion rooms. Approximately 199,000 rooms in the pipeline were under construction as of the end of 2022 “In our largest region, the U.S. &
In summation, Sterns warned that there existed insolvency risks among builders, as seen in the recent residential market worries. THSA’s Rodger Powell, never shy in his predictions, observed that “the market has no more tolerance for paying more for less” with regard to these COVID-driven practices.
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