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Macau hotel occupancy rates reached 84.8 percent in 1Q24, up by 9.9 percentage points year-on-year, according to information from the Statistics and Census Service (DSEC).

The festive season has brought cheer to the hospitality sector as both room rates and revenues of hotels saw growth in September on a yearly as well as sequential basis. According to a report by HVS Anarock, sustained demand growth has led to consistent improvements in occupancy rates across key markets in September 2024 compared to the same period last year. Average room rates across hotels and cities ranged between Rs 7,300 – Rs 7,500 in September. This was 1-3% higher than September 2023 and 3-5% more than August 2024, marking both yearly and sequential gain. Occupancy rates at 61-63% in September 2024 witnessed steady year-on-year growth of 2-4% and remained stable compared to August 2024. #hospitalityindustry #indiahotels #indiarealestate

The festive month of October 2024 witnessed a nationwide decline in occupancy rates but reported an overall surge in both average room rates (ARR) and hotel signings when compared year-on-year and with the previous month. For the month, average room rates soared by 10 per cent from the previous month and rose nearly 6 per cent from October 2023. Year-to-date hotel signings for October 2024 grew a robust 45 per cent year-on-year, with 33,407 keys signed across 333 properties. The hotel industry also gained momentum with openings. Overall, 8,073 keys across 119 properties opened by October from the start of this year, with most openings concentrated in tier-3 and tier-4 markets, as per the latest report by HVS ANAROCK. The report also found that multiple cities witnessed a decline in occupancy rates in October. However, Ahmedabad was the only city to record a significant increase in occupancy, with a 4-6 percentage point (pp) rise, driven by the Navratri festive season demand. #hospitality #hospitalityindustry #indiahotels

Key Takeaways from latest HVS ANAROCK report. 🚀 October 2024: Positive Trends Amidst Challenges for India’s Hotel & Tourism Sector 🚀 October 2024 saw a mix of ups and downs for India's hotel industry, with a nationwide dip in occupancy rates, but strong growth in Average Room Rates (ARR) and hotel signings. Here's a quick overview of the key trends shaping the sector: 📈 ARR Growth: Average Room Rates soared by 10% compared to September 2024 and rose nearly 6% YoY (October 2023), signaling optimism in the market. 🏨 Hotel Signings: Year-to-date, hotel signings increased by 45% YoY, with over 33,400 keys signed across 333 properties. This reflects strong investor confidence in India’s hospitality landscape. 🏢 New Openings: In 2024, 8,073 keys were added across 119 properties, with most developments focusing on tier-3 and tier-4 cities. 📍 City Performance: Ahmedabad: Saw a 4-6% occupancy boost due to the Navratri festival, but experienced a drop in ARR (-30%) compared to October 2023 due to high rates during the ICC Cricket World Cup. Hyderabad: Led ARR growth with a 21-23% increase. New Delhi & Jaipur: Both saw 13-15% ARR growth, despite declines in occupancy. Beyond hotels, Indian aviation set a new milestone with over 500,000 domestic passengers on November 17, 2024. ✈️ And in Ahmedabad, a new luxury river cruise project promises to elevate tourism with unique experiences along the Sabarmati River. Furthermore, the upcoming visa-free travel agreement between India and Russia (effective in 2025) will simplify travel and further strengthen bilateral tourism. 🌍 Despite challenges, the Indian hospitality and tourism industries continue to demonstrate resilience and growth potential. #Hospitality #Tourism #HotelIndustry #India #Growth #HotelDevelopment #TourismInnovation #Resilience HVS #ANAROCK

The data from the hotel survey reveal that there is ‘no sequential weakness’ in both the Average Daily Rate (ADR) and occupancy compared to October 2023. The ADR remains ‘flattish’ relative to the same period last year but is over 30 percent higher than in October 2019.

#revenuemanagement #pricingstrategies 💡 ◼ What is hotel pricing? Hotel pricing is the method by which you optimise your property’s rates to maximise both #occupancy and revenue. Providing guests with value for money while trying to maintain a stable bottom line and avoid being undercut by #competitors is a complex task that needs constant attention if your business is to succeed. We need to stay proactive when it comes to pricing their rooms. Capturing real-time data and following current market trends, along with your own business trends, is vital for maintaining an #optimalpricing model for your hotel. Adjusting your rates and managing the revenue you win from bookings cannot be viewed as a set and forget practice. ◼ Understanding room pricing at your hotel Prices can change not just every day but sometimes every hour depending on demand. This is the kind of agility #revenuemanagers are faced with achieving. Occupancy also plays a role in the way you price your rooms. After all, an unsold room achieves nothing so pricing your rooms to maximise occupancy can often be a better tactic than pricing rooms to maximise profit on them individually. In a highly competitive location, it’s sometimes necessary to lure guests in with lower rates. At least then you have the #guests and your competitors don’t. Every hotel has its own unique room pricing considerations depending on: Location Size  Market demographics Level of competition  Type of service offered ◼ Hotel pricing strategy examples 1. Competitor-based pricing It’s unlikely that you will be the only hotel on the market so it pays to see what others are doing. Completing an assessment of all your #competitors can allow to make an accurate judgement on how to price your hotel. 2. Open pricing Open pricing defines the flexibility hotels around the globe have to set their prices at different levels depending on the various target #markets and distribution channels they deal with. This luxury of choice allows hotels to forecast more accurately 3. Discount pricing Used in slow seasons to boost occupancy by dropping base rates. Revenue can be made up through other services in the hotel 4. Price per segment Offering the same product at different prices to different types of customers. E.g ‘family rate’ 5. Length-of-stay pricing When demand outweighs supply, it can help to implement a rule where guests are ‘obligated’ to stay a minimum number of days. In such cases, lower rates may not be necessary 6. Daily pricing Daily pricing or “dynamic pricing” is a strategy in which a hotel adjusts its rates on a day-to-day basis, changing based on factors like supply and #demand (both forecasted and actual). 7. Positional pricing Basing your rates off brand strength and reputation. 8. Penetration pricing Positioning yourself as the cheapest in the market. Be mindful of how travellers will perceive your hotel – you need to retain the opportunity to sell at higher rates.

One positive in the data is that group demand among luxury and upper-upscale hotels rose 10%, marking the 11th consecutive year-over-year gain and the highest jump since early this year. Markets with solid group demand gains included Washington, D.C.; Anaheim; Orlando and Atlanta. Despite the demand gain, group ADR fell 2.3%. Without Las Vegas, group ADR was up. Looks like the economic pressures are weighing heavier on economy hotels as low income travel is starting to slow down. Excluding Las Vegas looks like there is some stabilization in the market place and slower growth to come in room revenue as the economy continues to struggle. . . . . . #hotel #hospitality #hotelier #california #losangeles #california #hoteldata

2024 could match or surpass last year's record hotel room supply additions This year could match or even surpass last year's record hotel room additions in India, industry estimates showed, pointing to continued robustness in the hospitality industry in the world’s fastest-expanding major economy. Kiran Andicot, regional vice president, South Asia for hotel development at Marriott International said the chain opened 12 hotels, totalling 1,431 rooms, in India last year. Andicot said the numbers for India could be in the same range as in 2023. Jaideep Dang, MD, hotels and hospitality group at JLL, said 2023 was the best year ever in terms of hotel openings. #realestate #property #demand #growth #newlaunches #projects #hotels #luxuryhotels #travel #tourism #data #report #therealtynews #investors #investments #realestateagents #hospitalityindustry #data #report #expansion JLL India Marriott International https://lnkd.in/gMHdu2i6

Despite pre-Budget and US election nerves affecting retail and dining, staycation plans remained strong. Great to see London’s #hotel sector showing resilience, as highlighted by the latest RSM UK Hotels Tracker.   Quick snapshot:  📈 Occupancy up: London hotels rose to 84.2% in October, outperforming the UK average.    💷 Daily rates under pressure: Slight decline in average daily rates, showing price sensitivity.    💡 Profitability gains: Gross operating profits increased year-on-year, indicating strong performance.   The challenge? Balancing rising operational costs with consumer price sensitivity. The industry is banking on a strong Christmas party season to build reserves for next year. Explore my insights here: https://lnkd.in/e-swXeYc   #Hotels #RSMInsights #UKEconomy RSM UK | Saxon Moseley | Jacqui Baker | Lisa Alty | Hannah McCarthy | Robyn Duffy

What kept London hotels bustling in October? With mild weather and half-term travel boosting occupancy, the sector defied seasonal norms. Yet, with rising costs and price-sensitive consumers, can the festive season secure momentum for 2025?   🏨 From occupancy rates that defy expectations to the balancing act of daily rates and profitability, Chris Tate and Thomas Pugh unpack the resilience and challenges currently facing the industry in the latest RSM UK Hotels Tracker.