The global hotel industry produced significant growth in the first half of the year

By: Trademagazin Date: 2023. 10. 26. 11:46

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The international hotel market is in a serious upward phase: in the first half of this year, the sales revenue per available room exceeded the previous year by 19.5 percent and the average daily room rate by 6.4 percent, while the average hotel occupancy rate increased from 61.2 percent to 68. It rose to 9 percent, according to the quarterly industry analysis published by the consulting and auditing firm Moore Global.

Based on a representative sample composed of data published by four global hotel chains: Marriott, Hilton, InterContinental and Hyatt, the international consulting company analyzes the performance of more than 23,000 hotels in 108 countries every quarter, providing valuable insight into the current processes of the international hotel market.

The revenue per rentable room (RevPAR) in the first half of 2023 was 110.7 dollars, which not only exceeds the value of 92.6 dollars a year earlier, but also the peak value of the pre-Covid period, the 105.3 measured in the first half of 2019. dollars too. The average daily room rate (ADR) increased to $160.6 from $151 a year earlier and is now 11 percent above 2019’s $144.9. And the occupancy rate of 68.9 percent is barely behind the 72.4 percent rate of the first half of 2019.