Published on : Monday, October 30, 2017
The hoteliers have started closing in 2017 with ‘healthy gains’ across all travel segments as per TravelClick, a hotel consultancy that had published its October North American Hospitality Review (NAHR) yesterday.
Overall the average daily rates (ADR), revenue per available room (RevPAR), occupancy are up by 1.6%, 4.3% and 6% respectively for the fourth quarter as per the statistics of TravelClick.
The survey also added that the concept of group travel has been performing really well.
In fact the ADR, occupancy and RevPAR is up by 2.6%, 7.8% and 10.6% respectively. John Hach who is the senior industry analyst of TravelClick said that the key reservation of October’s reservation metrics have been motivational news for hoteliers. Moreover structural growth across all travel segments and essential gains in group bookings specifically.
Though 2017 has been concluding on a positive note, the industry would not be able to count on this year’s blessings to move forward to 2018.
TravelClick has added that the ADR all across the travel segments is up by 2.1% for the initial quarter of 2018. On the other hand the occupancy rate is down by 0.3%. Group ADR is up by 2.9% and the group occupancy is down by 1.4%.
Hach said that while this year’s fourth-quarter data is quite promising.
But then there continues to exist a level of uncertainty as to whether to advance the reservation growth or not, in the early 2018.