Smith Travel Research
Smith Travel Research provides data benchmarking, analytics, and marketplace insights for global hospitality sectors.
At the close of 2023, we celebrated an overall annual increase in ADR and occupancy compared to the previous year. For January and February 2024, we have observed a decrease in occupancy at 6.8% less than 2023. Despite this, January and February had the highest ADR on record at $211.73 for January and $248.00.
As a result, YTD RevPAR is 6.5% less than 2023, at $147.38. Although this decline poses a challenge, it also emphasizes the significance of adaptability and strategic planning in preserving our competitive advantage amid market fluctuations.
The numbers below reflect data for February 2024. An arrow in the upper right-hand corner of a box below indicates additional information is available. Click to open.
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