Global hotel demand picked up in September driven by higher prices and occupancy levels, although there was more of a mixed picture in Europe.
Figures from hotel data specialist STR indicated that there was no sign of a slowdown in demand for travel, with “acceleration driven by the Americas”, according to analysis of the data by investment firm Jefferies.
Average daily rate (ADR) globally was up by 6.6 per cent year-on-year in September with occupancy improving by 3.1 percentage points. ADR was also 24.3 per cent higher than in September 2019.
“Data for September shows a strong month for hotel demand after the moderation in August. This was driven by pricing and occupancy, and travel within the Americas,” said Jefferies in its analysis of the latest STR data.
“In Europe, trends have slightly moderated since July but within this there are winners and losers. France has continued to see strong demand, however Germany saw prices decline year-on-year. The Middle East has recovered after a soft August that was impacted by the timing of religious holidays. Asia's recovery is on track.”
Hotel prices in Europe, as measured by ADR, were up by 10.5 per cent in September compared with the same month in 2022. In comparison to September 2019, rates were up by nearly 36 per cent.