Remove Market Remove Occupancy Remove Tourism
article thumbnail

Australia’s hotel occupancy stable in September but growth slow

Hotel Management

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.

Occupancy 130
article thumbnail

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

Lodging

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

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Exclusive: Tourism Fiji CEO Brent Hill talks record results in a thriving market

Hotel Management

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.

Tourism 264
article thumbnail

Exclusive: The Good, The Not So Good and The Bad news for travel and tourism

Hotel Management

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.

Tourism 130
article thumbnail

Exclusive: hoteliers reveal impact of Taylor tourism as Swiftsteria takes hold

Hotel Management

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.

Occupancy 290
article thumbnail

WA reports record $14 billion tourism spend in 2022

Hotel Management

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.

Tourism 235
article thumbnail

CBRE predicts 2025 will be a ‘pivotal year’ for growth and investment in Australia’s hotel sector

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%