STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022. Revenue per available room (RevPAR) remains on track for full recovery this year on a nominal basis but not until 2025 when adjusted […]
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U.S. hotel demand as well as average daily rate (ADR) on a nominal basis will near full recovery in 2022, according to the upgraded forecast just released by STR and Tourism Economics at the 43rd Annual NYU International Hospitality Industry Investment Conference. Additionally, revenue per available room (RevPAR) on a nominal basis is projected to […]
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Europe’s hotel industry posted growth across the three key performance metrics during January 2018, according to data from STR. Euro constant currency, January 2018 vs. January 2017 Europe Occupancy: +3.4% to 58.6% Average daily rate (ADR): +2.2% to EUR97.89 Revenue per available room (RevPAR): +5.7% to EUR57.39 Local currency, January 2018 vs. January 2017 Greece […]
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The European hotel industry recorded positive April 2016 results in the three key performance metrics when reported in euro constant currency, according to data from STR. Compared with April 2015, Europe reported a 3.5% increase in occupancy to 71.4%, a 3.8% rise in average daily rate to EUR109.54 and a 7.4% lift in revenue per […]
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The different passenger yields are related to conditions that affect them either positively or negatively, although domestic demand retreating and smaller regional airports underperforming. European airport trade body ACI EUROPE released its air traffic report for January 2024. Passenger traffic across the European airport network increased by +7% in January compared to the same month […]
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InterContinental Hotel Group (IHG) operating profit increased 23% to exceed $1 billion for the first time in 2023. While, after-tax profit increased to $750 million in 2023, up from $376 million a year earlier. Key indicator revenue per available room (RevPAR) rose 16% year-over-year thanks to strong trading following the lifting of travel restrictions imposed […]
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-Although the technology has advanced significantly in recent years, the real revolution in Artificial Intelligence occurred only last year. But in the tourism industry its real impact will be based on how it is implemented and the changes it brings. A panel of experts from leading hotel chains spoke about this recently at FITUR, read […]
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ACI EUROPE releases its air traffic report for September and the third quarter (Q3) of 2023 – a peak period for European air travel. Passenger traffic across the European airport network increased by +12.1% in Q3 compared to the same period last year. Despite persistently higher air fares and enduring pressures from rising inflation, the […]
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Ryanair Holdings reported a strong half-year profit of €2.18bn, compared to a prior year H1 PAT of €1.37bn, thanks to a strong Easter in Q1, record summer traffic and higher fares which offset significantly higher fuel costs in the half year. H1 highlights: • Traffic grew 11% to 105.4m (95% load factor). • Rev. per […]
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London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022, according to preliminary May 2023 data from STR. May 2023 (year-over-year % change) Occupancy: 80.5% (+3.5%) Average daily rate (ADR): GBP204.52 (+18.9%) Revenue per available room (RevPAR): GBP164.54 (+23.1%) May was the first month this year with the market’s ADR above GBP200. […]
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