The global hotel industry produced significant growth in the first half of the year
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.
Related news
The Hungarian Hotels and Restaurants Association has announced the winners of the Hotel of the Year 2024 competition!
The Hungarian Hotel and Restaurant Association launched the prestigious Hotel…
Read more >New regulations on occupational health inspections: what does this mean for the hotel industry?
As of September 28, 2024, significant changes have been introduced…
Read more >Five Hungarian hotels also won awards at the World Luxury Hotel Awards gala
At the 18th World Luxury Hotel Awards gala held in…
Read more >Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >Csökkentette az élelmiszerárakat az árrésstop és az online Árfigyelő bővítése
2025 áprilisában csökkent az infláció és az élelmiszerárak növekedési üteme…
Read more >NGM: we always take action against unjustified price increases, inflation may decrease further in the coming months
The government is successfully fighting price increases. In April, inflation…
Read more >