Amadeus Demand360 data shows that hoteliers around the world can head into the final three months of the year with a positive outlook. Traveller numbers are continuing to build, occupancy rates are strong in most markets and revenue per available room (RevPAR) continues to rise across the key regions examined in this report: NORAM, EMEA and LATAM.
These key indicators are fueling confidence and investment in the hospitality sector. Statista finds a total of 1,842 hotels opened in 2022, a figure the researchers forecast will grow to 2,480 global hotel openings in 2023 and 2,707 in 2024.
Europe is leading the way.
For the first time, EMEA is set to lead the US in terms of occupancy and RevPAR. France in particular is seeing significant peaks in RevPAR and occupancy. Key cultural hotspots – including Florence, Rome and Athens – have seen strong occupancy over the summer, with more to come heading into the cooler months.
With the Rugby World Cup taking place in France and Beyoncé creating headlines with the Renaissance World Tour– data reveals that cultural, sporting and music events can be a major driver of bookings. Hoteliers should keep an eye on what is around the corner when it comes to anticipating demand.
As experienced during the pandemic, market conditions and the appetite for travel can change very quickly, so watching the data closely is important. The following pages outline some of these areas of focus.
Amadeus Demand360 data shows that hoteliers around the world can head into the final three months of the year with a positive outlook. Traveller numbers are continuing to build, occupancy rates are strong in most markets and revenue per available room (RevPAR) continues to rise across the key regions examined in this report: NORAM, EMEA and LATAM.
These key indicators are fueling confidence and investment in the hospitality sector. Statista finds a total of 1,842 hotels opened in 2022, a figure the researchers forecast will grow to 2,480 global hotel openings in 2023 and 2,707 in 2024.
Europe is leading the way.
For the first time, EMEA is set to lead the US in terms of occupancy and RevPAR. France in particular is seeing significant peaks in RevPAR and occupancy. Key cultural hotspots – including Florence, Rome and Athens – have seen strong occupancy over the summer, with more to come heading into the cooler months.
With the Rugby World Cup taking place in France and Beyoncé creating headlines with the Renaissance World Tour– data reveals that cultural, sporting and music events can be a major driver of bookings. Hoteliers should keep an eye on what is around the corner when it comes to anticipating demand.
As experienced during the pandemic, market conditions and the appetite for travel can change very quickly, so watching the data closely is important. The following pages outline some of these areas of focus.
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