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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. CoStar reports occupancy levels of 78.8% This is gained through the majority of individual days holding higher occupancy and not attributed to an event outlier, CoStar said.

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Parking Profits: As Occupancy Stalls, Hoteliers Increase Revenue From Drive-In Guests

Lodging

Based on our February 2023 Hotel Horizons report, CBRE reports that total hotel revenue for the average U.S. This occurred even though the average occupancy for U.S. hotel returned to pre-COVID levels in 2022. hotels is not expected to exceed 2019 levels until 2026.

Occupancy 289
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Marriott Bonvoy nets multiyear deal with Tennis Australia in boost to loyalty, occupancy and rates

Hotel Management

Nuell said the partnership over the past three years has resulted in more Marriott Bonvoy sign ups, increased brand awareness and increased hotel occupancy and revenue in the company’s 10 Melbourne hotels.  “The We operated at high occupancy throughout the tournament, and are currently pacing in line with last year. “We

Occupancy 130
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CBRE: U.S. Hotel Performance Expected to Accelerate at Year End

Lodging

5 percent increase in revenue per available room (RevPAR) growth for 2024, down from the previously estimated 1.2 This revision reflects a 40 basis point (bps) decrease in expected occupancy compared to the prior forecast, […] The post CBRE: U.S. CBRE now forecasts a.5 percent in August.

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Beyond Occupancy: Alternative Revenue Streams for Saturated Markets

TravelNet

Solid occupancy isnt enough anymore. Markets are saturated. While occupancy is still a core metric, relying on it too heavily can leave your property management business vulnerable to seasonal swings, economic uncertainty, and a volatile demand environment. Ancillary revenue to the rescue! Competition is fierce.

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STR, TE Downgrade U.S. Hotel Forecast in Final Revision of 2024

Lodging

For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Occupancy for the year was lowered 0.1 NASHVILLE—STR and Tourism Economics ​downgraded the growth rate in the final U.S. hotel forecast revision of 2024. percentage points to +1.5 percent and down 0.6 ppts to +1.4

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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. Hotel Performance 2024 (Percentage change from 2023): Occupancy: 63 percent (flat) ADR: $158.67 (up 1.7 WASHINGTONThe U.S.