(29/09/23) According to the latest Demand360 business intelligence data from travel
technology company Amadeus, global hotel occupancy levels up to the
end of August 2023 have been an average of 10% ahead of 2022.
For
Q4 2023, worldwide on-the-books occupancy data
reveals that reservations are trending 11% ahead of those seen in
2022.
In a further boost to hoteliers, global revenue
per available room (RevPAR) has grown by an average of 17% year to
date, when compared to rates achieved in 2022.
France is leading
the way, with RevPAR sitting 123% ahead of the worldwide average.
A RevPAR spike was also recorded in June this year in France, with
rates hitting $422, some 220% more than in the US during the same
month.
Room at Four Seasons Hotel George V, Paris
The findings are explored in a new Amadeus report:
‘Hospitality data trends 2023: The opportunities ahead’. The
report reveals current and forward-booking on-the-books occupancy
data, alongside RevPAR and booking lead times for hotels and
short-term rentals.
Amid global growth, Europe is leading the
hospitality charge. Occupancy in Europe has for the first time
narrowly overtaken the US over the course of 2023 and is looking
forward to a strong last quarter where on-the-books reservations
are currently 20% ahead of the worldwide occupancy average for Q4.
Key cultural hotspots – including Florence, Rome and Athens – have
seen strong occupancy over the summer, with more to come heading
into the cooler months.
Destinations and cities with large-scale events on
the horizon are also seeing traction. Beyoncé is creating
headlines with the Renaissance World Tour. In Seattle, the
superstar played at Lumen Field on 14 September – driving a
spike in hotel demand. Hotel occupancy for 9-11 September in
Seattle stood at an average of 83%, increasing to an average of
96% for 12-14 September as fans arrived and stayed for the
show. Occupancy was boosted 36% on the night of the show compared
to the same night in 2022.
Similar spikes in occupancy are being seen in
France during the Rugby World Cup, with demand in host cities
increasing according to forward booking on-the-books occupancy
data. Paris and Nice are up 5% compared to the same period in
2022, while Marseille is up 7%, indicating increased demand for
hotel rooms during the event.
“Access to complete and credible data
that can be trusted, gives hoteliers the insights they need to
help drive bookings and guide marketing, revenue management and
operations strategies,” said Katie Moro, Vice President, Data
Partnerships, Hospitality, Amadeus. “For example, a shift in available
short-term rental properties in a market will have an impact on
potential occupancy for hoteliers. Market dynamics are constantly
shifting, and it’s important to track them closely and be able to
move quickly to seize competitive advantage. Delivering these
insights is what drives our business intelligence solutions at
Amadeus.”
Hospitality data trends 2023 also highlights
leading indicators uncovered by combining Amadeus’ unique business
intelligence with its partner Key Data, a leading provider of
short-term rental market data around the world.
The data shows
short-term rentals are typically booked around a month (31 days)
in advance of hotels, while air travel bookings are usually made
slightly over three months (98 days) ahead of travel.
By combining
these data insights with forward-looking on-the-books occupancy,
hoteliers can anticipate dips and spikes in demand and plan
accordingly.
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