Cloud-based revenue solutions provider reports a 14% increase in room nights and a 19% increase in rooms revenue for 2023.
SAN FRANSCISCO – Duetto, the hospitality industry’s #1 Revenue Management Software (RMS), has released its latest look at the global hotel market, reporting positive signals in all metrics through to year-end.
Globally, Duetto data shows that room nights for this year are up 14%, ADR is up 9%, and rooms revenue is up 19% versus STLY.
For North America, all segments are enjoying a 6% uptick in room nights for 2023, a 3% gain on ADR, and an 11% lift in room revenue for this year compared with 2022 figures.
Focusing on Q4 2023, Duetto data shows a promising year-end for hoteliers.
Globally, room nights for Q4 2023 are up 20%, ADR is up 14%, and room revenue is up 23% versus STLY. For North American properties, Q4 2023 is trending up 6% on room nights, up 5% on ADR, and up 17% on room revenue versus STLY.
“These figures show us that business levels continue to normalize, as booking patterns and demand levels fall back in line with, or in some cases exceed, 2019 figures. This continued growth is a testament to the resilience of the global hotel industry, which has consistently looked for new opportunities and better ways to do business in recent years,” said Chris Crowley, Chief Revenue Officer, Duetto.
Business Returns for Convention Center Hotels
Convention Center hotels are seeing huge gains over STLY. Duetto data for Q4 2023 shows a 240% increase in room nights and a 283% growth in room revenue for properties in North America.
In North America, the Extended Stay model is also performing well, with Q4 2023 showing a 19% increase in room nights booked and an 8% increase in ADR, compared to the same time last year (STLY).
Full Service hotels in North America are showing a 14% increase in room nights for Q4 and a 3% increase in ADR versus STLY.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
