NEW YORK—Hotels in major North American markets are continuing to experience steady growth in both rate and occupancy across all travel segments, according to data from the August 2014 TravelClick North American Hospitality Review (NAHR).
“While summer may be coming to an end, the hotel market has a ‘hot outlook’ for the winter months,” said John Hach, senior vice president, global product management of TravelClick. “According to TravelClick’s data, hotels will continue to see healthy gains in demand and average daily rates (ADR) across all segments into the New Year.”
For the next 12 months (August 2014–July 2015), overall committed occupancy is up 3.7 percent when compared to the same time last year. ADR is up 4.6 percent based on reservations currently on the books.
Transient bookings are up 4.3 percent year-over-year and ADR for this segment is up 5.4 percent. When broken down further, the transient leisure (discount, qualified, and wholesale) segment is showing occupancy gains of 4 percent and ADR gains of 5.7 percent. Transient business (negotiated and retail) segment occupancy and ADR are both up 5 percent. Group segment occupancy is ahead by 3.2 percent and ADR is up 2.2 percent, compared to the same time last year.
“While the summer months are typically known to be a strong leisure segment period, the business segment has also seen positive gains,” Hach continued. “This is indicative of a growing economy and it is a welcomed revenue stream for hoteliers in the U.S.”
