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NYC leading U.S. markets, Boston, D.C. and Alaska join occupancy leaderboard

Hospitality Net

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 207
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Boston/Cambridge Lodging Market – 2023 Year End Review

Hospitality Net

The Boston/Cambridge lodging market ended 2023 at 76.4% occupancy, a 6.8% This 6-point increase in occupancy is a result of the market accommodating 8.6% Seasonality appears to be in sync with what we typically expect for the Boston market. variance over 2022’s 69.6%. more rooms occupied as compared to 2019.

Market 200
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Amadeus: Hotel Occupancy Soars This Holiday Season

Lodging

Amadeus is seeing a peak in demand over the Christmas and New Year period across major markets around the world. Amadeus’ Demand360+ data as of November 27, 2023, showed that global hotel occupancy for the weeks of Christmas and New Year’s is at 23 percent.

Occupancy 299
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HVS Las Vegas Casino and Hotel Market Outlook 2024

Hospitality Net

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 187
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Manhattan lodging market stabilizes and grows in Q4 ‘23

Hospitality Net

Manhattan hotels have seen an increase in occupancy, average daily rate (ADR) and revenue per available room. But the growth rate has started to decline as the market stabilizes. Cheaper hotels gained from market fatigue, with midscale properties having three times the ADR growth than higher-priced hotels in Q4.

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74% of global markets increased RevPAR to start 2024

Hospitality Net

STR’s global "bubble chart" update as of 10 February 2024 shows that 74% of markets increased revenue per available room (RevPAR) from the comparable period in 2023. Growth was balanced with 64% of markets showing increased occupancy and 70% achieving a higher average daily rate (ADR) than last year.

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Top 5 Hotel & Lodging Market Trend Predictions

Hospitality Net

Travel demand is likely to stabilize in 2024 benchmarking record occupancy and rate. The Industry will see 65+ percent occupancy overall and even higher ADR in 2024.

Market 142