Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
The Florida Panhandle remains popular among hotel developers and investors given the strength of the market in the post-pandemic period. An easy-to-reach destination for drive-to and out-of-state travelers alike, this Gulf Coast region has been a hotbed of activity for construction and transactions in the traditional-model hotel space since the summer of 2020.
Following seasonal patterns, U.S. hotel performance declined from the previous week but showed most positive comparisons year over year, according to CoStar’s latest data through 19 August.
The first half of 2023 proved to be a roller coaster for the California hotel industry, with varying performance across luxury, full-service, and select-service segments. The year started on a high note, especially for luxury hotels, before experiencing a dramatic decline in Q2 across all major areas, compared to the same period in 2022.
Canada’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to CoStar’s July 2023 data.
Among all countries with a total supply of more than 50,000 rooms, Israel, France, Greece, Singapore, and Croatia led in RevPAR on an actual basis. Greece maintained the top spot despite the impact of wildfires, while Singapore rejoined the leaderboard after a brief hiatus.
This summe there is one destination that has exceeded all expectations. The following analysis highlights how Italy’s hotel sector is thriving in bookings and room rates in addition to assessing how online trends set up a summer to remember for Italian hoteliers.
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.
The rate of growth in occupancy, average daily rate and revenue per available room decelerated considerably in Q2, with room rate fatigue effecting growth in the higher-priced hotel categories.
Silicon Valley historically experienced strong lodging performance driven by high-rated corporate demand during the week. Thus, the rise of remote work policies has had an impact on recovery. However, the presence of Big Tech, surging interest in AI technology, and expansion of the life-sciences sector are anticipated to drive growth in this market over the long term.