🌟 Stay ahead of the curve 🌟
In 2023, the global lodging industry marked a significant milestone as revenue per available room (RevPAR) achieved full recovery, reaching impressive levels across various regions, according to JLL's report. The Middle East, Europe, and the Americas led the charge, with the expectation that Asia Pacific would steadily progress towards surpassing 2019 levels by Q1 2024.
Notably, resort and leisure-heavy markets rebounded swiftly, while urban markets saw accelerated performance as travel gradually resumed. Urban hotels in major hubs like London, New York, and Tokyo are expected to attract significant investor interest.
Looking ahead, opportunities for further expansion in 2024 abound, with outbound Chinese travel projected to gain momentum, benefiting broader Asia and U.S. gateway cities. Europe remains a favored destination, with upcoming events driving visitor interest🌍
As everyone knows already, in 2024, travelers will prioritise experiences aligned with sustainability, wellness, and authenticity🌿
For a comprehensive overview and insights into 2023 transactions and 2024 trends, download the full report at jll.com - link in the comments below! What are your thoughts? #RevenueManagement #GlobalTrends