STR’s global “bubble chart” update through 16 December 2023 showed 75% of markets with growth in revenue per available room (RevPAR) compared to 2019. Notably, 20 of 25 European countries recorded RevPAR growth in this run-up to the holiday season, wrapping up a strong performance year around the continent.
Among countries with 50,000 rooms and adequate hotel reporting levels, the United Arab Emirates, South Korea, Singapore, France, and Switzerland led in RevPAR on an actual basis. The UAE was the only country to achieve RevPAR above US$200, courtesy of hosting COP28 in Dubai.
