This week in Hospitality & Tourism #43 2023
-
- Hotel investment in the CEE-6 region reached EUR 464 million, up 74%.
- For investors, ESG is now a key challenge but also an opportunity to reduce expenses and increase asset value with around a 6% “green premium”.
- Less than 5% of hotels in CEE-6 capitals have a verified ESG certification.
- CEE-6 hotels need to achieve a more than 50% carbon footprint reduction by 2030.
-
STR: U.S. hotel results for week ending 21 October
U.S. hotel performance increased from the previous week and showed improved year-over-year comparisons, according to CoStar’s latest data through 21 October.
- Among the Top 25 Markets, Seattle saw the largest year-over-year lift in occupancy (+8.5% to 76.1%).
- Las Vegas posted the highest increases in ADR (+20.3% to US$257.42) and RevPAR (+23.5% to US$229.57).
- Miami saw the steepest RevPAR decline (-12.3% to US$133.01).
15-21 October 2023 (percentage change from comparable weeks in 2022, 2019):
- Occupancy: 69.0% (-0.8%, -1.7%)
- Average daily rate (ADR): US$165.32 (+3.8%, +20.8%)
- Revenue per available room (RevPAR): US$114.04 (+2.9%, +18.8%)
