January's total revenue growth of 3.0% failed to offset the 220-basis point contraction in margins, causing a 5.7% decrease in GOP dollars as labor costs from rising wages continued to pressure operating profit.
Most of the largest global countries saw RevPAR decline as well, which is in line with past years and the Easter holiday.
As Brazil gears up for its mid-year holidays in July, destination managers and businesses are turning to travel intelligence to gain a competitive edge by effectively forecasting demand. With domestic travel within Brazil showing increased interest during this year?s holiday season, having access to accurate and timely data is crucial for success.
The market's highest daily occupancy level was seen on Saturday, 16 March (98.6%) - the night of the final round of the Six Nations championship between Scotland and Ireland at Aviva Stadium. The market's daily occupancy levels were above the 70% mark throughout the month apart from two days.
U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 6 April.
Helped by the annual Saudi Arabian Grand Prix, Jeddah's hotel industry reported performance growth across the metrics, according to March preliminary data from CoStar.
The host of six Taylor Swift concerts, Singapore's hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar.
The Knoxville hotel market’s recent performance trends are catching the attention of regional and national investors, and for good reason. With a slew of new developments, the city is fast becoming a sought-after destination for both business and leisure travelers.
The annual Canada Hotels & Chains Report examines the country's hospitality industry, highlighting its growth despite challenges such as inflation and interest rates.
As expected ahead of the Easter holiday, U.S. hotel performance decreased from the previous week, according to CoStar's latest data through 30 March.