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U.S. hotel industry occupancy increased 0.4 percentage points (ppts) compared to last year, reversing the course of year-over-year (YoY) declines of the previous three weeks. Weekends delivered the strongest gains (+1.0ppts) followed by weekdays (Monday – Wednesday: +0.6 ppts). The shoulder days (Sunday and Thursday) were down 0.4ppts.
Findings from the Cushman and Wakefield Operator Beat 2023 indicate that capital cities throughout Europe continue to hold their allure for operators, with the recent addition of Vienna to this esteemed list. Notably, City markets in France, Germany, Benelux, and Turkey have experienced a surge in operator interest since 2021.
Article - Weekly Global Hotel Performance Trends from STR: 15-21 October 2023 - The top 10 countries, based on supply, continued to see strong performance, with this weeks occupancy reaching 73.8%, up 10.8ppts from a year ago, with ADR and RevPAR growing 7.9% and 26.3%, respectively.
U.S. hotel industry occupancy increased 0.9 percentage points (ppts) week over week to 68.5% but was down 1.6ppts versus last year. The year over year softness was somewhat surprising given the week had the most schools out of session for fall break, according to STR’s School Break Report, and it included the Columbus/Indigenous Peoples’ Day holiday.
Article - Weekly Global Hotel Performance Trends from STR: 8-14 October 2023 - Global occupancy, excluding the U.S, fell slightly WoW (-0.6ppts) to 68.9%. The decrease was in line with seasonal trends as calendar shifts impact global occupancy week over week, particularly in the last months of the year. However, global occupancy continued to grow versus last year, up 6.1ppts.