Room nights across global hotel market rise 14% this year
Over the fourth quarter, room nights are up 20%, ADR is up 14%, and room revenue is up 23%, data from Duetto has found
Revenue management system Duetto has reported positive signals in all metrics across the global hotel market this year, with room nights up 14%, ADR up 9%, and rooms revenue up 19% against the prior year.
For North America, all segments saw a 6% uptick in room nights for 2023, a 3% gain on ADR, and an 11% lift in room revenue for this year compared with 2022 figures.
Focusing on Q4, Duetto data also showed a “promising” year-end for hoteliers. Over the quarter, room nights are up 20%, ADR is up 14%, and room revenue is up 23%.
The group’s data found that business has also returned for convention centre hotels, which have seen “huge gains” against the prior year. Data for Q4 showed a 240% increase in room nights and a 283% growth in room revenue for these properties in North America.
In North America, the Extended Stay model also performed well, with Q4 showing a 19% increase in room nights booked and an 8% increase in ADR, compared to the same time last year.
Full Service hotels in North America also reported a 14% increase in room nights for Q4 and a 3% increase in ADR versus last year.
Chris Crowley, chief revenue officer at Duetto, said: “These figures show us that business levels continue to normalise, as booking patterns and demand levels fall back in line with, or in some cases exceed, 2019 figures. This continued growth is a testament to the resilience of the global hotel industry, which has consistently looked for new opportunities and better ways to do business in recent years.”
