Hotels End the Year Solid
By Big Data Federation, Inc.
-
Lower domestic hotel demand represented a seasonal decline
-
Nationwide revenues were supported by steady average daily rates
-
Asia Pacific, including China, continued its strong rebound
Despite surpassing pre-pandemic levels, domestic hotel demand experienced a sequential seasonal decline during the festive period. Year-over-year figures were affected by a decrease in last-minute bookings related to the travel disruptions that occurred the previous holiday season (-7% MoM/ -1% YoY/ 1% YoY4).
Hotel revenues (-7% MoM/ 2% YoY/ 21% YoY4) tracked a similar trend but were supported by higher average daily rates (ADR). Nationwide rates remained stable, and guests continued to accept elevated rates in comparison to previous periods (0% MoM/ 3% YoY/ 18% YoY4).
Internationally, Europe, constituting nearly one-third of the market, mirrored trends observed in the U.S. In the Asia Pacific region, encompassing China and holding a comparable share, a robust rebound continued as cross-border travel had lagged.
1 YoY4 = comparison with September 2019
About OdinUltra
OdinUltra is a cutting-edge no-code specialized AI platform, designed to cater to a wide array of professionals in the asset management industry. It is a battle-tested specialized partner that empowers users including discretionary, quantitative, multi-asset, and multi-strategy managers to harness the immense potential of big data and sophisticated investment techniques. From idea exploration and construction to verification and deployment, OdinUltra is an all-encompassing tool. Asset managers can enhance existing products and rapidly develop new ones, securing a competitive edge in the dynamic world of asset management.
Published by Big Data Federation · All insights · Subscribe to Insights