STR’s global “bubble chart” update as of 9 March 2024 shows that 77% of markets increased revenue per available room (RevPAR) from the comparable period in 2023, which was 4% more than the last update. Occupancy and average daily rate (ADR) were also steadily higher than last year.
Among countries with 50,000 rooms and adequate hotel reporting levels, Singapore, the United Arab Emirates, France, Switzerland, and New Zealand led in RevPAR on an actual basis. Singapore recorded the highest ADR at $284, which was 17% higher year over year as the market hosted Taylor Swift’s Eras Tour. During the same period, occupancy increased mildly by 4.6%.
