According to the Hospitality Group and Business Performance Index from Knowland and Amadeus, which now focuses on year-over-year (YOY) performance, the group health index is 102.3% YOY and six of the top 25 U.S. markets have achieved 110% compared to the same time in 2023.
- Las Vegas: 121%
- Boston: 121%
- Seattle: 119%
- Houston: 114%
- New York City: 110%
- Minneapolis: 110%
The Index combines event data from Knowland with hotel booking data from Amadeus’ Demand360+ business intelligence solution to provide aggregate views of the key drivers of hotel performance. The aggregated index reflects performance for all segments—group, corporate negotiated, GDS and events—and shows Q1 2024 achieved 99.9% overall health compared to 2023.
Additionally, Q1 data shows that more than 52% of the top 25 U.S. markets have exceeded 100% of 2023, including:
- Seattle: 115.1%
- Houston: 107.5%
- New York City: 106.9%
- Boston: 106.1%
- San Francisco: 105.8%
- Las Vegas: 105.8%
- Washington, DC: 104.6%
- Detroit: 104%
- Miami: 102.4%
- New Orleans: 101.8%
- Chicago: 101.4%
- Nashville: 101.3%
- Tampa: 101%
Key insights from the index:
- Group continues to be the top-performing revenue segment achieving 102.3% overall health index with room nights at 99.1% of last year, while ADR increased 3.2%.
- Negotiated and GDS performance rally to 2023 levels. Negotiated achieved a 97% overall health index. Room night production was 93.6% of Q1 2023, while ADR increased by 3.6%. GDS achieved a 100% overall health index with room night production at 98.2% of last year and ADR increasing 1.8%.
- Event volume showed strong performance with meetings getting bigger. Meetings continue to provide stability for hotels after the 2023 boom year. Average attendees were up 25%, from 116 to 145 estimated number of guests, and the average space used was up 31.1%, from 3,037 sq. ft. to 3,981 sq. ft.
- The stabilization of business segments is evident. The comprehensive health index has demonstrated improvement, rising from 94.5% in Q4 2023 to 99.9% in Q1 2024, indicating inherent stability and robustness across all sectors as organic growth gains prominence.
