Monday, December 11, 2023

The hotel sector continues to add significant growth

A report by Amadeus revealed that the level of hotel occupancy in the world in 2023 will be 10% more than in 2022, with bookings in the fourth quarter of 11% of last year.

With these growth figures, optimism is the word that should describe the state of the hotel sector.
In addition, the global revenue per available room (RevPAR) has grown by an average of 17% worldwide this year so far, compared to the levels reached in 2022.
France leads the way, with RevPAR 123% higher than average around the world, with rates this June reaching $422, 220% more than the US in the same month.
Indeed, Europe leads in hotel occupancy, surpassed the US for the first time this year and is waiting for a good last quarter, where reservations are currently 20% above the average world occupancy.

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Major cultural hotspots such as Florence, Rome and Athens see strong occupancy during the summer, which will continue to increase in the cooler months. The report also highlights that Malaga is in the Top 5 European cities with the most reservations between September and November.

Destinations and cities that host major events are also seeing traction. This is the case, for example, in the Rugby World Cup held in France. A competitive factor in occupying peaks in host cities. According to Amadeus data, registrations in Paris and Nice increased by 5% compared to the same period in 2022, while Marseille increased by 7%.

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she Announce “Hospitality data trends 2023” It also highlights the main indicators obtained by combining Amadeus business intelligence with its partner Key Data, a leading provider of data for the short-term tourist rental market worldwide. .
The data shows that these rentals are usually booked about one month (31 days) in advance at hotels, while air travel reservations are usually made more than three months (98 days ) in advance. By combining this data with occupancy forecasting, hoteliers can anticipate peaks and troughs in demand and plan accordingly.

Also good data for Spain

According to Amadeus data, the The hotel market in Spain is also going through a good moment. Between 2022 and 2023, RevPAR in Spain increased by 23%. This represents an increase of 10% compared to RevPAR in 2019. What’s more, this percentage exceeds the average for the EMEA region.

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On the other hand, the average hotel occupancy between January and August 2023 increased by 11% and is only 6% lower than the average of 2019.

Occupancy forecasts, according to reserves, for the fourth quarter will be almost 21% higher than the same window in 2022 according to current data.
In addition, booking times are longer for hotels and short-term vacation rentals compared to 2022.

Nation World News Desk
Nation World News Desk
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