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This is a rare opportunity to secure immediate scale in a single capital city across three distinct hotel offerings,” said Savills Australia and New Zealand National Director – Hotels, Nick Lower. Each asset is underpinned by strong income performance, institutional-grade operations, and long-term value upside.
Adelaide hotels are reaping the benefit of a number of large-scale events across the city in 2024, according to recent data from CoStar. During the Santos Tour Down Under, between January 12-21, hotel occupancy reached 78.1%, while revenue per available room (RevPAR) increased 11.4% year over year to AU$179.18. yoy to AU$191.25.
Victorian hotels are also high on the popularity scale, with 39% growth year-on-year. Sport, in particular, is proving to be a powerful catalyst for weekend occupancies, and with the British and Irish Lions rugby tour set to take place over winter, we expect this trend to gain even more momentum.
Additionally, occupancy levels are only 10% lower than pre-pandemic levels, currently standing at 65%. This indicates a strong recovery in the hospitality industry, with both ADR and occupancy trending positively and approaching, or even surpassing, the levels seen before the pandemic.
“The announcement comes at a time when Perth hotels are experiencing their highest occupancy rates of any major city in Australia,” said Woods. For the month of May, Perth hotels had an occupancy rate of 77.3%, the highest of all Australia’s capital cities.
Move Beyond Syncing, Start Scaling 1) The New Age of Hotel Distribution The hotel distribution landscape has changed. Dynamic Pricing : Real-Time Revenue Optimization Channel Managers like STAAH enable rule-based pricing automation , adjusting your rates based on demand, occupancy, and even competitor pricing. No more repetition.
We have also seen incredible growth in yield (Average Daily Rate and RevPAR) and occupancy. Since reopening, Fiji’s tourism sector has seen record volumes of visitor arrivals, in particular from our key source markets of Australia, NZ, North America and China.
There is tremendous potential for us to further scale Lyf across more hospitality asset classes, whether as a full-service hotel or resort, especially with the growth pace we have seen over the year. Leading the next phase of development and growth of Lyf is Adeline Phua, who has been appointed Managing Lyf Partner.
Outsourcing valet services frees hotels from operational stress, enhances guest experience, reduces claims, and unlocks commercial opportunities, supporting premium pricing and increased occupancy through seamless, professional, and a trusted service delivery by experts. Q: Tell us about the services you offer hotels.
Higher Occupancy Rates : Encourage early reservations and fill vacant rooms with targeted discounts, ensuring optimal occupancy. Maximized Revenue During Low Occupancy : Fill rooms during off-peak periods with Last-Minute Deals, ensuring you make the most of every opportunity.
Compared to the previous iteration of this study in Q4 2023, overall business confidence for the next 12 months has held steady, with 35% of respondents rating their confidence at an '8' or higher on a 10-point scale.
Yet, despite the scale, much of the market still relies on on-premises property management systems. For RMS , the entry point was the budget and mid-scale segment a space less dominated by global tech giants and more open to change. India is home to roughly 2.5
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%
decrease in occupancy, which was driven in part by a 1.3% decrease in occupancy, which was driven in part by a 1.3% Luxury and upper-upscale posted the only positive chain scale performance during the month, up 2.7% RevPAR, occupancy down in Feb. Hotels State of the Union April 2024 Edition. drop in demand.
Originally published to the Amadeus newsroom 2023 global hotel occupancy levels are trending 10% ahead of 2022 with Q4 on-the-books reservations up 11% over last year, according to Amadeus data September 27, 2023 – There is a sense of buoyancy in the global hospitality industry as we head into the fourth quarter of 2023.
RevPAR growth next year, driven by a 40 basis-point (bps) occupancy improvement and a 2.3% inbound international travelers will boost occupancy and pricing power back toward their historical trend lines.” ” The best-performing lodging location type in Q3 2023 was urban, where occupancy improved 110 bps to 70.3%.
Scale That Works for Hotel Owners In a competitive high-cost landscape, scale and attracting more and different customers are essential. From negotiating reduced OTA fees and leveraging Choice’s scale with suppliers, the company delivers tangible results for its franchise owners.
Hotel occupancy, which is at a market average of 70%, is up 15% year-on-year, but remains down (-9%) on pre-pandemic levels. Rotorua’s hotel occupancy rate showed the most improvement, up 39% compared to 2022, slightly ahead of Queenstown, which was up 38%, and higher again than Auckland, which has had a 33% lift.
and occupancy +0.6% Our ability to capture demand across geographies and chain scales, as well as being heavily weighted to domestic stay occasions, are resilient strengths of our business. Highlights for the quarter include: Q1 global RevPAR +3.3%, with Americas +3.5%, EMEAA +5% and Greater China -3.5% YOY, +1.5% YTD; opened 14.6K
year-over-year, outperforming the chain scales in which the company competes by 60 bps. and 7.1%, respectively, compared to the same period of 2024, outperforming their respective chain scales by 30 bps and 440 bps. and occupancy levels increased by 30 bps. Choice Hotels International Inc. , Domestic ADR grew by 1.7%
and occupancy declined 0.8%, resulting in a 0.2% Business centric chain scales and location types outperformed, while leisure and resort locations underperformed. Q3 performance trends were weaker than expected. ADR continued to lag inflation at 0.6% decline in RevPAR.
It helps fill tables during off-peak times, maximising restaurant occupancy and revenue. With pressure mounting from rising costs, partnerships like this empower businesses to do more with less, smartly and at scale.”
As we enter 2025, we will continue to realize the earnings growth from our past investments, meaningfully expand the scale of our business and accelerate our growth in the coming years.” and occupancy levels increased by 80 basis points for fourth-quarter 2024, compared to the same period of 2023. Repurchased 3.1
Veriu Group CEO, Zed Sanjana, and developer Tim Gurner are celebrating a successful first six months of Veriu Collingwood, with the apartment hotel garnering strong occupancy and room rates since opening. Sanjana spoke to HM’s Ruth Hogan about the Collingwood project, mixed-use developments, opportunities in office conversions, and much more.
The biggest mistake a hotelier could make during an event of this scale was keeping their room rates static. As a result, they ensured full occupancy at premium rates, making record-breaking profits. Every room was priced optimally, ensuring maximum profitability while maintaining high occupancy. The smart ones knew better.
Hotels that cater to these guests by offering themed packages, sports-viewing lounges, wellness options for athletes and shuttle services to venues are standing out from competitors and driving increased occupancy and revenue. These efforts help turn a simple overnight stay into a memorable and engaging experience.
As a result, occupancy levels have declined in each of the past seven months, relative to comparable 2022 levels, and are expected to continue to be down during the remainder of this year and through at least the first quarter of 2024. Nonetheless, PwC expects annual occupancy for U.S. hotels this year to increase to 63%.
Our single-vendor ecosystem gives growing vacation rental companies all the enterprise-class tools they need to scale. With ongoing investment in the development of the platforms native features and 70+ integration partners, Track helps hospitality pros level up and scale in an increasingly dynamic market.
By analyzing booking patterns, guest behavior, and local events, hotels can anticipate occupancy rates and adjust strategies accordingly. Inventory Management: Adjust inventory levels and maintenance cycles to meet expected occupancy, reducing wear and reactive fixes. The richer the data, the more accurate the future planning.
vs 2019; occupancy +4.1%pts Group-wide occupancy was 72%, just one percentage point behind 2019 which further confirms the near-complete return to pre‑Covid levels of demand. As such, we’re confident in the strengths of IHG’s business model, scale and in our strategic priorities to capture sustainable, profitable growth.”
Advance Purchase : This discount type allows you to scale the discount based on the number of days a booking is made in advance. Multi Nights : With this discount type, you can scale the discount based on the number of nights a guest plans to stay. It encourages longer stays and increases the average booking value.
Increased consumer confidence and spending activity has fueled strong occupancy and rate growth throughout the last 12 months as well. At the Q1 close, 62% of projects in the total pipeline are concentrated within the upscale and upper-midscale chain scales. This is the fourth consecutive quarter of total pipeline growth for the U.S.,
It can directly impact revenue, guest satisfaction, and your ability to scale. Furthermore, the two-way connectivity ensures that all reservations made through any OTA are instantly updated in the PMS, enabling hoteliers to focus on improving guest experiences while maximizing occupancy rates.
When everyonefrom housekeeping to maintenance to the GMcan see the same occupancy targets, service goals or scheduling benchmarks, there is clarity across the organization. Data doesnt replace that magic, but it can make it easier to deliver, scale and maintain it. Data, however, creates a shared reality.
If occupancy is low, you might only have one or two associates at the front desk. The post How Four Sisters Inns manages diverse boutique hotels at scale appeared first on Hotel Operations. One of the largest controllable expenses in a small hotel is salaries. Staying on top of scheduling is critical.
According to new Demand360 business intelligence data from Amadeus , global hotel occupancy levels up to the end of August have been an average of 10% ahead of 2022. For the fourth quarter, worldwide on-the-books occupancy data reveals that reservations are trending 11% ahead of those seen in 2022. Hotel occupancy for Sept.
Global occupancy moved up to 62% and ADR increased by a further 2% as pricing remained robust, reflecting the complete return of leisure, business and group travel.” Occupancy was 63.1%, down 1.1 YOY, with occupancy up 2.7 YOY, with occupancy up 0.7 ” Other Q1 highlights: Gross system size growth up 5.0%
In this role, he will oversee distribution strategy and systems ecosystems, working with commercial teams to implement and administer a targeted distribution strategy, to lower channel costs, maximise occupancy, and enhance revenue. Josie Hungerford At Trilogy, she will drive portfolio growth strategy and large-scale corporate projects.
hotel occupancy on track to reach 63.8% The following are additional key findings of the study: High scores for hotel staff linked to low problem incidence: Overall satisfaction with hotel staff is 701 (on a 1,000-point scale), making it the single highest-scoring factor in this year’s study. With average U.S. According to the J.D.
Nicole Nguyen from CBRE pointed to a key challenge: “the battle of supply versus demand,” adding with 470,000 hotel rooms and peak national occupancy hovering at 66 per cent, the industry needs to unlock new off-season demand. Can we make winter our opportunity?” Technology alone won’t move the needle,” she said.
But doing it at scale is impossible without structured data and hospitality-driven tech tools. Instead of relying on gut feelings or broad averages, hoteliers can finally tie investments to outcomes with precision—and scale what works. How to Start Using Data Analytics in Your Hotel? Is your team still sending every message manually?
But doing it at scale is impossible without structured data and hospitality-driven tech tools. Instead of relying on gut feelings or broad averages, hoteliers can finally tie investments to outcomes with precision—and scale what works. How to Start Using Data Analytics in Your Hotel? Is your team still sending every message manually?
year-over-year (YOY) for FY2024, occupancy up 0.6 We enter 2025 with confidence in further capitalizing on our scale, leading positions and the attractive long-term demand drivers for our markets, all of which support the ongoing successful delivery of our growth algorithm. .” Trading and revenue EMEAA RevPAR increased 6.6%
Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. The bold line represents the average occupancy rate for the competitive set. Each point on the chart shows a specific day’s occupancy for the hotel.
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