This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
STR’s latest data market report shows September 2024 occupancy was stable despite slowing growth, standing at 72.7% Year-to-date occupancy across the country was at 70.4% Hotel occupancy is a key economic indicator,” said Goodwin. up just 0.6% on September 2023 (72.1%). compared to 68.7% in the first nine months of 2023.
NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. Occupancy for the year was lowered 0.1 hotel forecast revision of 2024. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 percentage points to +1.5 percent and down 0.6 ppts to +1.4
Ahead of the inaugural AHICE Fiji Islands Investment in Tourism Summit on July 3-4 , Tourism Fiji CEO, Brent Hill, spoke exclusively to HM about the strong demand for holidays in the South Pacific. Brent Hill, Tourism Fiji Tourism in Fiji is booming! Register now for AHICE Fiji Islands Investment in Tourism Summit.
Luxury Escapes CEO Adam Schwab shares his 2025 travel outlook, from The Good to The Not So Good and The Bad news for hotel and tourism businesses. The 20% drop in the share prices of key hotel chains, including Marriott and Hilton off recent highs (despite a general market rebound) shows how this uncertainty has filtered to investors.
Occupancies are at unparalleled levels over the concert periods, and we have also seen a surge in regional demand as Swifties take the opportunity to travel further. For both the Melbourne and Sydney concerts we’ve seen a bump in hotel occupancy around the event dates, and our restaurants have also seen great reservation numbers.
The Australian Hotels Association WA CEO Bradley Woods praised the result and pointed to significant opportunities for growth ahead with airline capacity improving and traditional destination markets recovering. The post WA reports record $14 billion tourism spend in 2022 appeared first on Hotel Management.
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%
Event-related occupancy forecasts are particularly impressive, given STR and JLL report Melbourne has welcomed 81 new hotels and over 5,200 rooms in the five-year period between 2019 and 2024, with another 2,000 rooms still to come, said Accommodation Australia (Victoria) General Manager, Dougal Hollis.
Amadeus, a leading provider of travel technology solutions, and UN Tourism , have released a new report with comprehensive data on travel in Asia Pacific. Market level hotel occupancy rates, average daily rates (ADR), and revenue per available room (RevPAR) across various regions are also detailed in the report.
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% New Zealands international visitor numbers sit at 86% of pre-Covid levels, with the Tourism Export Council of New Zealand forecasting a full recovery by March 2027.
WASHINGTONCoStar and Tourism Economics made minimal adjustments to growth projections in the first U.S. Occupancy for the year was raised 0.1 hotel forecast of 2025 released at the Americas Lodging Investment Summit (ALIS). percent and +1.8 percent, respectively. percent and +1.8 percent, respectively. percentage points to 63.1
In fact, concert-goers often flood the local hotel market, with occupancy rates skyrocketing, and hotels seizing the opportunity to increase room rates due to heightened demand. This large influx of attendees, many traveling from neighboring countries, led to a 45% spike in hotel occupancy compared to regular weekends.
The latest report, New Zealand Hotel Performance Focus, shows that this growth was achieved despite ongoing declines in key urban markets such as Auckland and Wellington. Occupancy in this segment reached close to 78%. An uptick in Australian visitors to New Zealand has helped drive a 2.9%
Japan’s top hoteliers and tourism professionals are preparing to meet next week for the inaugural AHICE Far East Asia on Wednesday, September 5. The half-day event at The Tokyo EDITION hotel in Toranomon will unite leaders from the hotel, aviation, and tourism sectors to discuss challenges and opportunities in this rapidly evolving market.
HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. Occupancy was downgraded slightly (by 0.2 hotel forecast revision of 2023. For 2023, growth in RevPAR was raised by 0.3 percentage points, due to a 0.6
The Asia Pacific (APAC) region is experiencing growing travel demand across all markets, according to the latest data from Amadeus. In the first quarter of 2023 – helped by the reopening of Greater China – APAC hotel occupancy hit 61.7%, surpassing 2019 levels by 3%. in January 2023 to 76.5% in March 2023. in January 2023 to 76.5%
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 tourismmarket continues to thrive.
The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Domestic tourism is still going strong.
Nearly six months on from the formation of Accommodation Australia – an amalgamation of the Accommodation Association and Tourism Accommodation Australia – CEO Michael Johnson spoke to HM’s Ruth Hogan about what has been achieved this year and what’s top of the agenda for 2024. How did you go about tackling the Victoria tourism levy issue?
In short, they largely do, which could spell another strong year for Southeast Asia’s hotel industry from both an occupancy and investment point of view. Thailand’s well-established and diversified hospitality market also looks attractive. Investment volume is expected at THB9-10 billion, close to the 10-year average volume of THB11.7
An improvement in economic conditions is on the horizon with leisure and business tourism set to benefit, according to CBRE Director – Hotels and Leisure, Peter Hamilton. 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.
Australia’s boutique hotel market is booming amid increased demand for unique and personalised stays. CBRE’s market analysis found that boutique properties have outperformed ‘big box’ international hotels on occupancy levels, Average Daily Rate (ADR) and Revenue Per Available Room (RevPar) since the onset of the pandemic in 2020.
Despite the slow return of international travellers to Queensland, occupancy levels at Accor’s 96 hotels across the state are surging beyond 2019 occupancy levels thanks to strong domestic travel and the lure of major concerts and events. We’ve also got big markets we can tap into like India.”
Australia and New Zealand’s hospitality sectors led the world in terms of occupancy in 2024, achieving occupancies of 78.1% As we step into 2025, the hospitality markets in Australia and New Zealand are seeing continued growth, fuelled by strong domestic demand and a rebound in international tourism.
Data shows strong growth, especially in the Caribbean and Central America April 30, 2024 – Demand for travel to destinations across the Americas is on the rise, a new report released today by Amadeus in collaboration with UN Tourism shows. UN Tourism data shows that an estimated 1.3
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.
A bumper crowd of over 330 leading owners, investors, operators, suppliers and advisors were at the Sofitel Fiji Resort and Spa this week (Jul 3-4) for the 2024 AHICE Fiji Islands Investment in Tourism Summit , where record performance numbers were the talk of the major conference. Fiji the top performing market for Accor,” he said.
“This event will not only facilitate collaboration and knowledge sharing but also showcase the tremendous potential of the Japanese market to a global audience. “We AHICE Far East Asia will unite leaders from the hotel, aviation, and tourism sectors, fostering collaboration and knowledge exchange in this rapidly expanding market.
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.
Joint report with UN Tourism highlights growing popularity of Azerbaijan, Kazakhstan and Czech Republic June 18, 2025 – A host of emerging destinations in Western and Central Asia are catching the eye of international travelers this year, as demand for thought-provoking travel continues to rise.
Leisure travel is back, but while most markets are shaking off the shackles of the pandemic, China has only just opened its borders. As such, we are still largely focused on serving the domestic markets within the countries that we operate. We are in interesting times.
We have great confidence in the outlook for Hervey Bay and Sunny Beach Land’s project presents the opportunity we have been waiting for to enter the market,” said Marriott International Vice President Hotel Development Australia, New Zealand and Pacific, Richard Crawford.
Lunar New Year has failed to lure high numbers of visitors from China to Australia with the Australian Tourism Export Council (ATEC) reporting a slower than expected recovery.
The long-term outlook for Australia’s visitor economy remains bright, despite the impact of interest rate rises and lower household savings rates in the near term, but a full recovery may take until 2025, according to Tourism Research Australia’s 2022 State of the Industry report. Australia welcomed 3.4 billion, which was down by 59% on 2019.
With consumer behaviours evolving, and the lines between tech platforms, marketing, and operations blurring, a modern strategy goes far beyond just listing rooms on online travel agents (OTAs). A drop below 30% occupancy? Push a ‘3D2N Getaway’ deal across selected markets in minutes. And timing matters.
Accor has reported strong recovery in its Western Australian hotels with occupancies of 68% year-to-date (YTD), marking a 7.5% Speaking to media in Perth last week, Accor Pacific CEO, Sarah Derry, said Perth was Accor’s second-best performing city in Australia (just behind Sydney), with 71% average occupancy YTD, 11.6%
Asia Pacific’s hotel market is capturing the attention of institutional investors with competition heating up for prime hotel assets in tier one markets including Australia, Japan and Singapore, according to a new report from CBRE.
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
Over two days, hoteliers, real estate experts and took to the stage to share business updates and insights into the local market. STR Regional Director, Matthew Burke, set the scene with a detailed presentation on the New Zealand market. Minister’s address New Zealand Minister for Tourism and Hospitality, the Hon.
However, its been hard in the last 18 months, to achieve the same levels of occupancy, the same room rates, as we were prior. People are more value-driven, waiting for that last minute deal, whichever end of the market youre operating in. Were coming into a time where our brands and the market direction are absolutely as one.
Domestic tourism definition Domestic tourism’s definition is much the same as domestic travel, except it takes into account only those who are travelling for leisure. Domestic tourism example An example of domestic tourism might be an American family travelling from another state to visit California and stay at Disneyland.
Surging inbound tourism will help boost Australia’s hotel occupancy levels this year and next while spurring room rate growth in most markets, particularly Sydney and Brisbane, according to new CBRE forecasts.
Air capacity is well over 100% of 2023 volumes across all regions, demonstrating increased opportunities for travel January 24, 2024 – A new report released today by Amadeus in collaboration with UN Tourism shows a positive trend for air travel and hospitality in the Americas at the start of 2024.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content