Hospitality Net

SEPTEMBER 21, 2023

Canada’s hotel industry reported its highest occupancy level since August 2019, according to CoStar’s August 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

Occupancy 205

Occupancy Real Estate Hotels Market 205

Hospitality Net

APRIL 11, 2024

Dublin’s hotel occupancy was helped by the Six Nations Men’s 2024 championship and St. Patrick’s Day festivities, according to March 2024 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Occupancy 183

Occupancy Real Estate Hotels Market 183

Hospitality Net

JUNE 14, 2023

Helped by the Arab League Summit, Jeddah’s hotel industry posted its highest monthly occupancy since August 2016, according to preliminary May 2023 data from STR.

Occupancy 189

Occupancy Hotels 189

Hospitality Net

FEBRUARY 23, 2024

Canada’s hotel industry showed lower occupancy but continued growth in average daily rate (ADR), according to CoStar’s January 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

Average Daily Rate 177

Average Daily Rate Occupancy Real Estate Hotels 177

Hospitality Net

MAY 15, 2023

Dubai’s hotel industry saw its saw highest April 2023 occupancy levels during the Eid-al Fitr holiday period, according to preliminary data from STR.

Occupancy 188

Occupancy Hotels 188

Hospitality Net

MAY 24, 2024

After four consecutive months of year-over-year declines, Canada’s hotel industry reported an increase in occupancy, according to CoStar’s April 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

Occupancy 100

Occupancy Real Estate Hotels Market 100

Hospitality Net

MAY 26, 2023

hotel performance produced an incremental gain during the four weeks ending 13 May, a period that falls in between the heavy, summer travel season and earlier year peaks that include solid leisure travel, improved demand from conventions and group bookings, and returning business travel in larger markets. and Alaska joined the leaderboard.

Occupancy 245

Occupancy Market Marketing Travel 245

Hospitality Net

APRIL 12, 2023

Melbourne’s hotel occupancy was its highest for any month since February 2020, according to preliminary March data from STR.

Occupancy 189

Occupancy Hotels 189

Hotel Management

FEBRUARY 22, 2024

Global hospitality company Accor achieved a record result in 2023 with earnings reaching over €1 billion for the first time in its history. Accor’s net profit group share increased by 57% to €633 million. The post Historic result: Accor hit record €1 billion in EBIDTA for 2023 appeared first on Hotel Management.

Occupancy 264

Occupancy Pipeline Revenue Branding 264

Hospitality Net

APRIL 25, 2023

Canada’s hotel occupancy was its highest since October 2022, according to STR’s March 2023 data.

Occupancy 183

Occupancy Hotels 183

Hospitality Net

MARCH 21, 2024

On April 8th, there will be a total solar eclipse that traverses North America. Being able to witness this from land is incredibly rare, with astronomers at NASA saying that it could be as long as 375 years before a similar event occurs in this North American pathway.

Occupancy 264

Occupancy Events Hotels 264

Hospitality Net

DECEMBER 12, 2023

Jakarta hotels recorded their highest levels in occupancy and revenue per available room (RevPAR) since November 2011 and November 2013, respectively, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Occupancy 100

Occupancy Real Estate Revenue Hotels 100

Hospitality Net

MAY 31, 2023

More notably, however, the gains included a more significant contribution from occupancy growth, as half of all markets surpassed their 2019 comparables. That percentage represents a high mark since measurements against pre-pandemic times began.

Occupancy 130

Occupancy Revenue Market Marketing 130

Hospitality Net

MAY 1, 2023

Gains continue to be driven by average daily rate (ADR) while occupancy trails pre-pandemic comparables in most corners of the world.

Average Daily Rate 239

Average Daily Rate Occupancy Revenue Market 239

Hospitality Net

OCTOBER 7, 2024

hotel revenue per available room (RevPAR) rose 3.9% After two months of declines, occupancy improved by 1ppt to 66.9%, which was 4.1ppts below August 2019. year over year (YoY) in August, following a lackluster July. Growth was driven by average daily rate (ADR), which increased 2.3%.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Hospitality Net

SEPTEMBER 13, 2024

This report delves into the intense rivalry between Singapore and Hong Kong, two of Asia’s most influential hotel markets, each vying for dominance in the post-pandemic era. Singapore, now leading the region with occupancy rates surpassing 83% in early 2024, is capitalising on its ability to attract major international events.

Hotel Marketing 237

Hotel Marketing Market Marketing Occupancy 237

Xotels

MAY 30, 2024

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, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. Occupancy or ADR?

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Hotel Speak

JUNE 4, 2024

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, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. Which is it?

Revenue Management 47

Revenue Management Occupancy Revenue Average Daily Rate 47

Hospitality Net

MAY 29, 2024

Produced jointly by STR and Cushman & Wakefield, the Hotel Sector Barometer confirms the upsurge in tourism and hotel activity in Spain, with outstanding results across all indicators showing growth over the figures for the first quarter of 2023. Spain’s hotels achieved occupancy of 68.5% between January and March (+4.9%

Average Daily Rate 246

Average Daily Rate Occupancy Hotels Tourism 246

Hospitality Net

AUGUST 29, 2024

The hotel landscape is correspondingly lively - increasingly sustainable and with numerous modern, new and individual concepts. After expecting a slight revival in the hotel investment market at the beginning of the year, our latest Hotel Market Spotlight for Berlin now looks at the hotel performance itself.

Hotel Marketing 246

Hotel Marketing Market Marketing Occupancy 246

Hospitality Net

JULY 22, 2024

We take a look at how host market hotels performed during this year’s races and what occupancy on the books looks like for races set for later this year. Set on a global stage, Formula 1 spans across multiple continents, with 12 of the 24 races so far this year having taken place on F1’s biggest ever calendar.

Occupancy 259

Occupancy Hotels Market Marketing 259

Hospitality Net

APRIL 29, 2024

Dubai’s hotel occupancy and average daily rate (ADR) reached elevated levels during Ramadan and Eid al-Fitr, according to recent data from CoStar.

Average Daily Rate 242

Average Daily Rate Real Estate Occupancy Hotels 242

Hospitality Net

AUGUST 23, 2024

Canadian Hotel demand continues to outperform 2019 levels in terms of overall occupancy and is even neck and neck with 2018 which was Canada’s occupancy peak. We have faced many headwinds with consumer disposable income constraints and geopolitical uncertainty; however, hotel performance continues to roar forward!

Occupancy 264

Occupancy Consumer Hotels 264

Hotel Business

JANUARY 12, 2024

JRK Property Holdings , through its $350-million hospitality fund, has acquired a two-property, 275-key Hyatt-branded hotel portfolio in San Juan, Puerto Rico, from the PRISA Group for an undisclosed price. The hotels benefit from numerous demand drivers including their proximity (one block) from the 600,000-sq.-ft.

Occupancy 111

Occupancy Hotels Construction Dining 111

Hospitality Net

AUGUST 26, 2024

The rate of growth in occupancy, average daily rate (“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. percent while Q2 increased 6.8

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotel Marketing 246

Hospitality Net

MARCH 27, 2024

A Certificate of Occupancy (C.O.) is a vital requirement prior to opening your hotel after a new build/renovation (without it you’re subject to massive, compounding fines!). Because of the necessity of this certification, you’ll want to work it in to your construction plans from the very beginning to avoid any project delays.

Construction 240

Construction Occupancy Hotels 240

Hospitality Net

JULY 24, 2024

Bookings for the Grand Prix began as early as December 2023, significantly impacting hotel demand. This early surge in reservations has led to an unprecedented increase in hotel occupancy rates, with many premium and centrally located hotels reporting near-full bookings months in advance.

Occupancy 239

Occupancy Hotels Hospitality 239

Hotel Management

FEBRUARY 20, 2024

Ahead of the inaugural AHICE South East Asia, which takes place in Singapore on February 27-29, JLL Hotels and Hospitality Group CEO APAC, Nihat Ercan, discusses the latest developments in hospitality across the region. In 2023, two consistent headlines emerged. Do these themes play out closer to home?

Real Estate 245

Real Estate Average Daily Rate Occupancy Marketing 245

Hospitality Net

SEPTEMBER 10, 2024

Maestro PMS, the hotel industry’s leading Web Browser-based cloud and on-premises all-in-one property-management system, has teamed with industry-leading financial management platform Data Plus to elevate the technology offerings at the famed Francisco Grande Hotel & Golf Resort.

Resorts 231

Resorts Occupancy Revenue Management 231

Hospitality Net

MAY 15, 2024

Japan’s growth in hotel revenue per available room (RevPAR) has remained extremely impressive over the past 15 months – a function of a later opening post-pandemic, above-average inflation, and an influx of international demand.

Average Daily Rate 245

Average Daily Rate Occupancy Revenue Hotels 245

Hospitality Net

OCTOBER 11, 2023

Japan’s hotel occupancy is still yet to reach full recovery, with July’s 73.4% When looking at daily data, the highest occupancy level was on Saturday, 15 July (at 89.2%), which was the first day of Marine Day, a three-day-long national holiday in Japan. That occupancy level was the highest in Japan since 15 December 2019.

Average Daily Rate 230

Average Daily Rate Occupancy Hotels 230

Hospitality Net

FEBRUARY 12, 2024

year-over-year decrease in hotel demand and a 0.8% drop in occupancy in Q4 2023. Occupancy declines were partially offset by a 0.7% increase in supply led to a 2.5% increase in average daily rates (ADR), resulting in a 1.9% decrease in revenue per available room (RevPAR) during the quarter.

Average Daily Rate 196

Average Daily Rate Occupancy Revenue Hotels 196

Hospitality Net

OCTOBER 31, 2023

hotel revenue per available room (RevPAR) rose 2.9% in September 2023, which was the strongest year-over-year (YoY) growth of the quarter, even as occupancy continued to decline modestly.

Occupancy 243

Occupancy Revenue Hotels 243

Hotel Business

MAY 3, 2024

InterContinental Hotels Group PLC (IHG), for the first quarter ended March 31, reported global RevPAR increased 2.6% Global RevPAR in the first quarter of 2024 continued to grow, up 2.6%, reflecting the strength of our globally diverse footprint,” said Elie Maalouf, CEO, IHG Hotels & Resorts. and Greater China up 2.5%.

Pipeline 109

Pipeline Occupancy Travel Branding 109

Hospitality Net

OCTOBER 14, 2024

hotel performance for the period ending 5 October 2024 showed the effects of Rosh Hashanah and Columbus Day/Indigenous Peoples Day calendar shifts as well as the impact of Hurricane Helene. and occupancy falling 2.3 On the heels of strong gains the previous week, U.S. Revenue per available room (RevPAR) dropped 7.7%

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Hospitality Net

OCTOBER 16, 2023

Hotel occupancy was up and an expectation to serve 3.9 The year 2023 was promising. million tourists this year was encouraging.

Occupancy 245

Occupancy Hotels 245

Hospitality Net

APRIL 17, 2024

In 2023, occupied room nights, as well as total occupancy (83.5%), continued to lag 2019 performance; however, like gaming revenue, the market’s ADR ($191.29) and RevPAR ($159.73) for 2023 reached record levels for the second year in a row.

Casinos 241

Casinos Hotel Marketing Market Marketing 241