Category: Markets

November 20, 2023

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. hotel forecast revision of 2023. For 2023, growth in RevPAR was raised by 0.3 percentage points, due […]

November 10, 2023

A total of 621 deals* were announced in the travel and tourism sector globally during January-October 2023, which was a decline of 31.8% compared to the announcement of 911 deals during the same period in the previous year, finds GlobalData. […]

November 1, 2023

Saudi Arabia Sovereign Wealth Fund PIF to acquire 49% stake in Rocco Forte Hotels Saudi Arabia’s Public Investment Fund (PIF) is close to acquiring a 49% stake in Rocco Forte Hotels, valuing the stake at approximately €1.5 billion. Sir Rocco […]

October 24, 2023

Gruppo Statuto acquires Six Senses Rome from Orion Capital Italian investor Gruppo Statuto has acquired the ultra-luxury, 96-room Six Senses Rome for a reported €245 million (€2.6 million per room), from London-based real estate investment manager Orion Capital. The trophy […]

October 19, 2023

Despite current economic headwinds and constraints on airline seat availability, hotel performance in Asia Pacific has continued to improve in 2023. The recovery continues to be largely driven by domestic demand, although the return of mainland Chinese tourists at the […]

October 12, 2023

With the summer travel surge concluded, London’s hotel industry showed more normalized levels of growth, according to preliminary September 2023 data from CoStar. September 2023 (year-over-year % change): Occupancy: 84.3% (+3.1%) Average daily rate (ADR): GBP208.51 (+2.6%) Revenue per available […]

September 28, 2023

Blackstone acquires the Cascade Wellness Resort in Lagos, Portugal, from Fliptrel Blackstone, through its Luxembourg-based subsidiary Magma Pledgeco, has acquired the five-star, 164-room (including apartments) Cascade Wellness Resort in Portugal from Fliptrel Portugal, for a reported €50 million (€305,000 per […]

September 15, 2023

Helped by the FIFA Women’s World Cup, Sydney’s hotel industry recorded its highest monthly performance levels since March 2023, according to preliminary August 2023 data from CoStar. August 2023 (year-over-year % change): Occupancy: 80.7% (+26.0%) Average daily rate (ADR): AUD261.83 […]

September 14, 2023

Continuing seasonal patterns, U.S. hotel performance showed mixed results from the previous week, according to CoStar’s latest data through 9 September. 3-9 September 2023 (percentage change from comparable week in 2022): Occupancy: 60.3% (-1.9%) Average daily rate (ADR): US$150.66 (+1.8%) […]

September 13, 2023

India’s outbound travel sector has experienced significant growth in recent years. The number of Indian travelers heading abroad reached approximately 27 million in 2019, growing at a CAGR of ~ 9% during 2011-19. Although the pandemic temporarily clipped the wings […]

September 8, 2023

Following seasonal patterns, U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 2 September. 27 August through 2 September 2023 (percentage change from comparable week in 2022): […]

September 5, 2023

Pricing Power Lags 2019 While Labor Costs Increase A presentation on inflation’s effects on hotel profitability at the 2023 Hotel Data Conference highlighted hotel rates on a real basis are still down compared to 2019 while hotels continue to face […]

September 1, 2023

Data from SiteMinder, the world’s leading open hotel commerce platform, reveals that hotel bookings for September in Spain are off to their strongest start in five years. SiteMinder’s World Hotel Index shows that hotel bookings in Spain are currently at […]

August 24, 2023

The World Travel & Tourism Council (WTTC), together with WTTC members ForwardKeys and Mabrian Technologies, today unveiled new insights into the strong expansion of the U.S. Travel & Tourism sector. According to WTTC’s Travel & Tourism Economic Impact 2023 Global […]

August 21, 2023

The U.S. hotel industry reported mixed performance results month over month, according to July 2023 from CoStar. July 2023 (percentage change from July 2022): Occupancy: 69.1% (-0.5%) Average daily rate (ADR): US$160.31 (+1.3%) Revenue per available room (RevPAR): US$110.80 (+0.8%) […]

August 14, 2023

Singapore Firms Are Investing In Timor Leste’s Hospitality Sector Singapore-owned businesses are investing millions in Timor-Leste’s leisure and hospitality sectors such as five-star hotels, serviced apartments, and an entertainment centre. For instance, Pelican Paradise Resort (“hotel”), a five-star hotel, part […]

August 8, 2023

The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals Germany’s Travel & Tourism sector is recovering at pace to recover to within 95% of pre-pandemic levels. The sector is set to contribute €355BN to the […]

July 24, 2023

Global occupancy (excluding the U.S) reached another post-pandemic high of 72.4%, 1.5 ppts higher than the previous high achieved a week ago. The week’s occupancy was 5.7ppts higher than the level seen a year ago. ADR increased 9.3% YoY to […]

July 14, 2023

UK Market Spotlight Monthly Trends: United Kingdom Hotel Market Performance (Year to Date 2023 vs Year to Date 2022 & 2019) In the latest updates on the regional market performance of the hotel industry in the United Kingdom, we share […]

July 13, 2023

The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Portuguese Travel & Tourism sector is projected to exceed the 2019 peak this year. According to the report, the sector is set to contribute €40.4 […]