Worldwide: Hospitality technology platform Amadeus has released its latest report which reveals that hotel occupancy levels in Europe have overtaken the US throughout the course of 2023.
In the Amadeus report Hospitality data trends 2023: The opportunities ahead, occupancy levels, RevPAR and booking lead times for hotels and short-term rentals are revealed.
According to group’s Demand360 business intelligence tool, global hotel occupancy levels have averaged 10 per cent ahead of 2022 at the end of August this year. Worldwide data also showed that for Q4, reservations were trending 11 per cent ahead of 2022.
In Europe, on-the-books reservations are currently 20 per cent ahead of worldwide occupancy average for Q4. Cities including Florence, Rome and Athens recorded strong summer occupancies, with France witnessing a spike across host cities of the Rugby World Cup.
Global RevPAR has grown on average by 17 per cent, with France sitting 123 per cent ahead of the worldwide average.
Key Data, a partner of Amadeus which provides global short-term rental insights, also reveals that short-term rental accommodation is typically booked around one month in advance of hotels. Flights are also booked slightly over three months (98 days) ahead of travel.
Katie Moro, VP data partnerships, hospitality – Amadeus, said: “Access to complete and credible data that can be trusted gives hoteliers the insights they need to help drive bookings and guide marketing, revenue management and operations strategies.
“For example, a shift in available short-term rental properties in a market will have an impact on potential occupancy for hoteliers. Market dynamics are constantly shifting, and it’s important to track them closely and be able to move quickly to seize competitive advantage. Delivering these insights is what drives our business intelligence solutions at Amadeus,” she added.
The full report from Amadeus can be found here.