Thanks to a boost from the annual Spanish Grand Prix, Barcelona's monthly average daily rate (ADR) and revenue per available room (RevPAR) reached all-time highs, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Pushed by the 2024 UEFA European Football Championship, Cologne’s hotel industry recorded its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, according to June preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
With slightly over three weeks until the start of Paris 2024, SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, has analysed hotel arrivals during the Olympics period (26 July to August 11), and compared them to the same dates last year. The results are derived from SiteMinder's platform, which generates more than 120 million reservations annually, worth over US$50 billion in revenue for its more than 41,000 hotel customers.
Room Mate Hospitality & Leisure, S.L. (“Room Mate Hotels”), a leading lifestyle hotel brand and lease management company headquartered in Madrid, today announced the acquisition of Staying Valencia, a portfolio of boutique hotels and aparthotels in Valencia. This strategic acquisition marks a significant milestone in Room Mate Hotels’ expansion strategy, bolstered by the support of TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, and Westmont Hospitality (“Westmont”), which together acquired Room Mate Hotels in 2022.
Boosted by three large-scale events during the final weekend of June, Dublin hotel average daily rate (ADR) eclipsed EUR300 for just the second time this year and sixth time in history, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The World Travel & Tourism Council (WTTC) today unveiled the remarkable growth of Travel & Tourism in France last year, with the sector’s GDP contribution surging by nearly 6% year-on-year to a record-breaking €246BN.
With one month until the start of the Summer Olympic Games, Paris hotel booking levels are nearing 80%, according to CoStar's latest Forward STAR data. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
PKF hospitality recently hosted 196+ roundtable live event in the following region: Germany.
In the first four months of 2024, full-service branded hotels in Barcelona recorded a healthy performance increase, underpinned by growing tourism demand and the regulation constraining hotel development.
The Set Collection proudly announces the addition of two exquisite properties solidifying its presence in Switzerland and marking a significant expansion of the Collection to encompass 20 luxurious hotels and private residences.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) has revealed Türkiye’s Travel & Tourism sector broke all records last year, reaching new milestones across four key metrics.
Helped by a number of events, Berlin hotels saw improved performance in May, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
When tickets for the UK leg of Taylor Swift’s latest tour went on sale last July searches for Airbnbs in London, Edinburgh, Cardiff and Liverpool during the Star’s concert dates surged an average 337%1 for show nights, compared with searches for those dates the previous month, bringing a welcome boost to the UK hospitality industry.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed today that the Albanian Travel & Tourism sector contributed more to the economy and supported more jobs in 2023, than any previous year on record.
Edinburgh’s hotel sector outperformed the UK national average in revenue growth according to new research from real estate services firm Cushman & Wakefield, showing a healthy performance for the first quarter of the year despite an ongoing increase in the supply of hotels.
International hotel brands will continue to pour into Spain, according to Global Asset Solution’s Spanish Hotel Market Outlook 2024. The company said that it expected to see budget brands join the swelling numbers of luxury flags as both domestic and international tourism grew.
Germany is hosting the Euro Cup 2024, presenting an exceptional opportunity for travel businesses. This prestigious tournament will draw football enthusiasts from across the globe to ten dynamic cities, including Berlin, Munich, and Frankfurt. These cities, known for their rich cultural heritage and modern amenities, are poised to offer an unforgettable experience for visitors. The influx of fans provides a golden chance for travel businesses to showcase Germany's hospitality, boost tourism, and enhance the local economy.
Produced jointly by STR and Cushman & Wakefield, the Hotel Sector Barometer confirms the upsurge in tourism and hotel activity in Spain, with outstanding results across all indicators showing growth over the figures for the first quarter of 2023. Spain’s hotels achieved occupancy of 68.5% between January and March (+4.9% compared to the same quarter in 2023), with average daily rates (ADR) standing at €134.60 (+11.7%) and revenue per available room (RevPAR) of €92.10 (+17.1%). In terms of destinations, the Canaries topped the table for all three indicators. Given that the first three months of the year represent high season for the islands, occupancy understandably reached 84.3%. For their part, ADR hit €171.30 and RevPAR €144.40. These figures represent significant growth over the figures for the first quarter of the preceding year, amounting to 16.7% with respect to ADR and 22.2% in terms of RevPAR. The fact that the Easter holidays fell in March enabled the Canary Islands to add domestic tourism to the usual international visitors that come during the winter months.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed today a much slower recovery of Germany’s Travel & Tourism sector compared to other key European destinations.
The resurgence of travel activity in Venice following the years afflicted by the COVID-19 pandemic has not only been a sign of recovery but also an indicator of evolving trends within the city's tourism sector. In line with what was observed in other Italian cities, Venice's hotel market experienced an unprecedented surge in the post-pandemic era. While overall occupancy rates remain below pre-pandemic levels, the upper upscale and luxury market segments appear to have fully rebounded. This recovery, along with a significant increase in average rates, has resulted in a notably positive impact on Revenue Per Available Room (RevPAR).