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STR Weekly Insights: 3-9 December 2023

U.S. hotel occupancy reached 58.7%, up 4.5 percentage points (ppts) compared to the prior week as holiday leisure travel kicked in along with the return of end-of-year business and convention travel. Occupancy, however, was down 0.7 ppts versus last year. Average daily rate (ADR) increased 4.5% year over year (YoY), resulting in a 3.3% increase in revenue per available room (RevPAR). ADR has been driving RevPAR growth for most of 2023 even as occupancy has slipped. This is more evidence of hoteliers continuing to price with a focus on margins rather than occupancy.

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Weekly Global Hotel Performance Trends from STR: 3

Article - Weekly Global Hotel Performance Trends from STR: 3 - 9 December 2023 - Global Occupancy, Excluding the U.S., Moved to 66.5%, Up 5.3ppts YoY and Flat from the Previous Week. Occupancy is Trending in Line with Pre-pandemic Norms As 2017, 2018 and 2019 All Showed a Similar Slowdown of Occupancy from Mid-November Toward the End of the Year.

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90% of global markets post RevPAR growth above 2019, most of China included : Monday, 23rd October 2023 : 4Hoteliers

90% of global markets post RevPAR growth above 2019, most of China included : Monday, 23rd October 2023 : 4Hoteliers
4hoteliers.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 4hoteliers.com Daily Mail and Mail on Sunday newspapers.

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90% of global markets post RevPAR growth above 2019, most of China included

STR s global "bubble chart" update (as of 15 July 2023) shows an exceptional 90% of markets with growth in revenue per available room (RevPAR) compared to 2019. This marks the highest proportion of markets in that category since the update began in May 2022.

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Staying Strong, 85% of Global Hotel Markets Continue to See RevPAR Growth Above 2019

STR’s global “bubble chart” update as of 17 June 2023 shows that 85% of markets experienced growth in revenue per available room (RevPAR) when compared to 2019. This reflects the same level as the previous update, which marked the largest share of markets with growth since the beginning of the pandemic. Additionally, occupancy continues to play a significant role in driving RevPAR growth.

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