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.
Employment Remains 5.7% Above Pre-Pandemic February 2020
Meeting professionals in this region are expecting a steady overall increase in activity in 2024. This steady increase balances growth with cautious optimism in most categories due to a variety of factors.
This article is all about cash - keeping more of what's yours and making sure it's properly controlled. Cash controls are not complicated, but they need heightened awareness and a constant effort to be effective.
First Quarter Total Sales and Passengers Trips Increased Year Over Year
First Quarter Total Sales and Passengers Trips Increased Year Over Year
Last year, the sector grew by more than a quarter (26%) to contribute a record-breaking AED 220BN to the UAE’s GDP representing 11.7% of the entire economy. This exceeded the previous record set in 2019 by almost 15% and underscores the sector’s pivotal role in the nation’s economic framework.
Helped by the total solar eclipse, U.S. hotel performance increased from the previous week, according to CoStar's latest data through 13 April.
Las Vegas continues to evolve, with billions of dollars being spent on the development of new world-class venues in recent years. This article examines the latest trends and developments that are relevant to the Las Vegas casino and hotel markets.
Slightly more conservative across the board, yet positive in outlook, European meeting professionals expect a moderate increase in activity level compared to North and Latin American regions. However, high levels of optimism regarding the overall health of the industry are firmly in place. 79% said they would rank their confidence level as 8 or higher on a scale of 1 to 10.
This report and accompanying Commercial Effectiveness Organizational Assessment was created by the HSMAI Commercial Strategy Workgroup. HSMAI’s Commercial Effectiveness Organizational Assessment allows a hotel organization (individual hotel, management company, ownership group, or brand) to assess and score their implementation of the 11 key drivers of commercial excellence.
Top destinations for U.S. travelers include major cities like New York and London, as well as beach destinations like Cancun and Honolulu.
Top destinations for U.S. travelers include major cities like New York and London, as well as beach destinations like Cancun and Honolulu.
Fourth Quarter 2023 Fares Increase 4.6%, Adjusted for Inflation, from Previous Quarter
New study shows Gen Z and Millennials are willing to travel the farthest and spend the most to attend destination events
New study shows Gen Z and Millennials are willing to travel the farthest and spend the most to attend destination events
The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data.
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.
UN Tourism has partnered with the European Committee of the Regions for a comprehensive study of the significant impact and potential of tourism in fostering socio-economic development in rural areas.
Preliminary data reveals the strengthening of Asia-Pacific and Middle East hubs alongside perennial US leaders
xpect to see a rise in the price of large hotels and a decline in prices for small hotels next quarter based on our leading indicators of hotel price performance.
The Americas is the only world region that showed a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar.