This week in Hospitality & Tourism #46 2022

Tripadvisor Releases Seasonal Travel Index Results (December 2022- February 2023)

• Over two-thirds of global travelers planning trips between December 2022 and February 2023.
• Almost 9 in 10 will travel the same amount or more compared to the same period last year.
• Consumers will maintain levels of travel spend this season, with over half (52%) planning to spend more on their trips compared to last year.

Top Destinations:

• Dates of search on Tripadvisor by October 2022.
• Dates of travel searched on Tripadvisor Dec 1 - Feb 28.

Global

Competition for Leisure Guests Heats Up Between Hotels and Short-Term Rentals

A new joint report from hospitality data supplier STR and short-term rental analytics provider AirDNA shows that competition between short-term rentals and hotels has accelerated in the fight for leisure guests, with the price gap tightening and rental supply falling behind in urban markets.

STR: U.S. hotel results for week ending 12 November

U.S. hotel performance came in higher than the previous week and showed improved comparisons to 2019, according to STR‘s latest data through 12 November.

• Among the Top 25 Markets, Norfolk/Virginia Beach reported the largest occupancy increase over 2019 (+14.3% to 63.6%).
• San Diego posted the largest ADR increase over 2019 (+35.2% to US$202.86).
• The steepest RevPAR declines were in San Francisco (-26.7% to US$154.46) and Minneapolis (-16.3% to US$68.41).

6-12 November 2022 (percentage change from comparable week in 2019):

• Occupancy: 64.6% (+0.9%)
• Average daily rate (ADR): US$148.43 (+17.1%)
• Revenue per available room (RevPAR): US$95.89 (+18.2%)