Hotels Experience Healthy Growth in Both Bookings and Rate
Transient Segment Continues to Lead the Charge in 2014, Supported by Leisure Travel
12 Month Outlook (June 2014 – May 2015)
For the next 12 months (June 2014 – May 2015), overall committed occupancy* is up 3.2 percent when compared to the same time last year. ADR is up 3.6 percent based on reservations currently on the books.
Transient bookings are up 4.2 percent year-over-year and ADR for this segment is up 5.1 percent. When broken down further, the transient leisure (discount, qualified and wholesale) segment is showing occupancy gains of 3.8 percent and ADR gains of 5.9 percent. The transient business (negotiated and retail) segment is up 4.4 percent with an ADR increase of 4.2 percent. Group segment occupancy is ahead by 2.8 percent and ADR is flat (up 0.2 percent), compared to the same time last year.
Hach continued, “Typically the third quarter is very strong for transient leisure travel and weaker for group travel, as people take their vacations during these summer months and are less likely to travel for large meetings and conventions. However, the group segment is seeing healthy gains in both ADR and occupancy, signifying the strength of the overall market.”
The June NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by June 1, 2014 from the period of June to 2014 to May 2015.
*Committed Occupancy – Transient rooms reserved + group rooms committed)/capacity
**Reserved Occupancy – Total number of rooms reserved/capacity
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