Industry NewsAmadeus Q4 Data Shows Global Hotel Occupancy is Trending Ahead of 2022

Amadeus Q4 Data Shows Global Hotel Occupancy is Trending Ahead of 2022

According to new Demand360 business intelligence data from Amadeus, global hotel occupancy levels up to the end of August 2023 have been an average of 10 percent ahead of 2022. For the fourth quarter of 2023, worldwide on-the-books occupancy data reveals that reservations are trending 11 percent ahead of those seen in 2022.

In a further boost to hoteliers, global revenue per available room (RevPAR) has grown by an average of 17 percent this year to date, when compared to rates achieved in 2022. France is leading the way, with RevPAR sitting 123 percent ahead of the worldwide average. A RevPAR spike was also recorded in June this year in France, with rates hitting $422, some 220 percent more than in the United States during the same month.

The findings are explored in a new Amadeus report: “Hospitality data trends 2023: The opportunities ahead.” The report reveals current and forward-looking on-the-books occupancy data, alongside RevPAR and booking lead times for hotels and short-term rentals.

Amid global growth, Europe is leading the hospitality charge. Occupancy in Europe has for the first time narrowly overtaken the United States over the course of 2023 and is looking forward to a strong last quarter where on-the-books reservations are currently 20 percent ahead of the worldwide occupancy average for Q4. Cultural hotspots, including Florence, Rome, and Athens, have seen strong occupancy over the summer, with more to come heading into the cooler months.

Destinations and cities with large-scale events on the horizon are also seeing traction. Beyoncé is creating headlines with the Renaissance World Tour. In Seattle, she played at Lumen Field on September 14th, driving a spike in hotel demand. Hotel occupancy for September 9th-11th in Seattle stood at an average of 83 percent, increasing to an average of 96 percent for September 12th-14th as fans arrived and stayed for the show. Occupancy was boosted 36 percent on the night of the show compared to the same night in 2022.

Similar spikes in occupancy are being seen in France during the Rugby World Cup, with demand in host cities increasing according to forward-looking on-the-books occupancy data. Paris and Nice are up 5 percent compared to the same period in 2022, while Marseille is up 7 percent, indicating increased demand for hotel rooms during the event.

Katie Moro, vice president, data partnerships, hospitality, Amadeus, says, “Access to complete and credible data that can be trusted gives hoteliers the insights they need to help drive bookings and guide marketing, revenue management, and operations strategies. For example, a shift in available short-term rental properties in a market will have an impact on potential occupancy for hoteliers. Market dynamics are constantly shifting, and it’s important to track them closely and be able to move quickly to seize a competitive advantage.”

Hospitality data trends in 2023 also highlight indicators uncovered by combining Amadeus’ business intelligence with its partner Key Data. The data shows short-term rentals are typically booked around a month (31 days) in advance of hotels, while air travel bookings are usually made slightly over three months (98 days) ahead of travel. By combining these data insights with forward-looking on-the-books occupancy, hoteliers can anticipate dips and spikes in demand and plan accordingly.

RELATED ARTICLES