In Athens, the rise in airport arrivals boosted occupancy rates by 5.9% in Q1 2024/23, accompanied by a 3.9% increase in room prices. Consequently, RevPAR improved by 10%.
During Ramadan (11 March - 9 April), Dubai saw its highest daily occupancy levels on Friday, 29 March (at 78.9%), which coincided with the Easter holiday weekend. The market’s ADR levels peaked on Saturday, 30 March, at AED901.25.
Global leisure demand beginning to bloom - U.S. RevPAR moderated after three unsteady weeks.
U.S. hotel performance showed mixed results from the previous week, according to CoStar's latest data through 20 April.
Hotels in Jacksonville, Florida, experienced a robust March, driven in part by an influx of visitors for the 50th edition of THE PLAYERS Championship at TPC Sawgrass. This surge in demand coincided with the entrance of several new hotels into the market, which affected hotel performance metrics.
After four consecutive months of year-over-year declines, Canada’s hotel industry reported a marginal lift in transient occupancy, according to CoStar’s March 2024 data.
In 2023, the travel market in the United Kingdom experienced significant growth, with gross bookings increasing 19%, driven by robust expansion in online bookings, mobile transactions and key sectors like airlines and car rentals.
Global occupancy reached the highest level of the year (68.4%). Key country occupancy ranged from 76.4% in the U.K. to 59.3% in Indonesia. Spain, Italy and China all saw occupancy above 72%, with only China showing a year-over-year decrease.
A number of large-scale events have boosted hotel performance in Adelaide, with further jumps expected for upcoming events, according to recent data from CoStar.
The Top 25 Markets showed higher occupancy and ADR than all other markets.