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Hotels on the Big Island reported revenue per available room (RevPAR) at $302 (-2.2% vs. 2022, +33.3% vs. 2019), with average daily rate (ADR) at $436 (+2.8% vs. 2022, +55.7% vs. 2019), and occupancy of 69.3% (-3.6 percentage points vs. 2022, -11.6 percentage points vs. 2019).
Article - HVS Report - The Rebounding San Diego Lodging Market Attracts Investor Interest - By Marcus R. Lee - In 2022 and the first half of 2023, San Diego hotels experienced unprecedented RevPAR growth, similar to much of California, as markets recovered from the impact of the COVID-19 pandemic. As a result, hotel development and transactions have been strong. However, construction of full-service hotels remains challenging amid a steep rise in development costs.
IDeaS, a SAS, company, the world’s leading provider of hotel revenue management software and services, released a special report in line with industry budget season. The report “Unlocking Hotel Performance: The Power of Revenue Management Technology Today,” includes key insights into how investors view revenue technologies, the role of artificial intelligence in hospitality, and how technology is reshaping hospitality commercial organizations.
The private sector, with the support of the government, must embrace sustainability
Bank official urges hoteliers to reduce tourism pressure on infrastructure by becoming more green