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Hotels in non-gateway cities posted higher quarterly and yearly gains relative to gateway cities, with the non-gateway hotels’ prices increasing 4 percent for the quarter, compared to 2 percent for gateway properties.
Searches up 40% and International Beach Destinations Back on the Map
Revenue per available room (RevPAR): US$80.32 (+13.0%)
In the recently released Latin America Construction Pipeline Trend Report from Lodging Econometrics Econometrics (LE), analysts report that at the close of Q4 2022, the total construction pipeline stands at 536 projects/87,827 rooms.
Hotel revenue managers are trying to balance higher room rates that aren't consistently trickling down to the bottom line for owners as guests expect more out of their stays based on what they're paying.
Brand.com has taken share relative to OTAs vs. 2019 For the first time post-pandemic, Group share of demand reached 100% of 2019 levels.
The return of East Asian visitors will be a plus for the American hotels, especially in Hawaii, major West Coast markets, and premier leisure destinations like Las Vegas and Orlando. In addition to the hotel market’s surprising resilience in recent quarters, we expect further demand growth, especially from visitors from China and Japan, as more travel restrictions ease.
In line with the drop of international arrivals our monthly hotel performance survey on the performance of the Greek hotel sector showed a decline of room nights sold by 10.1% during 2022 compared to 2019.
According to the Q4 2022 Hotel Construction Pipeline Trend Report for Canada by Lodging Econometrics (LE), LE analysts report that Canada’s total construction pipeline stands at 267 projects/35,758 rooms, up 2% by projects and 1% by rooms year-over-year (YOY).
Southeast Asia sits at the lower end of recovery compared to other STR-defined subcontinents, exceeding only the gains of Northeastern Asia in terms of occupancy and average daily rate (ADR) in 2022. This was due to strict and long-lasting COVID mitigation strategies and the region’s reliance on international travel, particularly from China, which has been slower to resume international flight capacity.