The more we dig into generational travel, the more we realize another, equally important trend - multigenerational travel. In fact, the rise in multigenerational travel is, arguably, positioned to change the hotel and travel industry.
Only hotels in the South Atlantic region experienced a positive price momentum during this period. The performance of hotels in non-gateway cities declined at a faster rate relative to those in gateway cities. Hotel financial operating performance has finally returned to positive profitability with operating profit exceeding both a hotel propertys operating costs as well as financial (borrowing) cost, based on economic value analysis (EVA).
Hotels in Sydney reported occupancy fell 3.5% to 79.6% in September, according to preliminary STR data. ADR decreased 2.6% to 205.44 Australian dollars ($138.60) and RevPAR declined 6.1% to AU$163.60 ($110.37).
Hotels in Abu Dhabi, United Arab Emirates, reported occupancy rose 8.3% to 72.9%, ADR increased 1.2% to 341.72 Emirati dirhams ($93.05) and RevPAR rose 9.6% to 249.03 dirhams ($67.81).