STR’s world “bubble chart” replace as of 10 February 2024 exhibits that 74% of markets elevated income per out there room (RevPAR) from the comparable interval in 2023. Progress was balanced with 64% of markets displaying elevated occupancy and 70% reaching a better common day by day charge (ADR) than final 12 months.
Amongst international locations with 50,000 rooms and sufficient resort reporting ranges, Singapore, France, Switzerland, the United Arab Emirates, and Saudi Arabia led in RevPAR on an precise foundation. Switzerland attracts guests for the start of ski season, whereas Center Japanese international locations peak with their mildest climate this time of 12 months.
Not included in that RevPAR high 5, however notable, Thailand benefited from the Lunar New Yr vacation and recorded an occupancy stage of 79.5%. That stage was the very best for the nation because the pandemic started and ranked second amongst 48 international locations included on this replace.
Excluding international locations with fluctuating alternate charges, the leaders in year-over-year RevPAR development had been Japan, Vietnam, Malaysia, Czech Republic, and Thailand. As anticipated, extra Asian international locations exhibit larger year-over-year good points as many had been nonetheless within the early levels of reopening initially of 2023.
In 2023 year-end updates, occupancy in most international locations lagged 2019 comparables. Nonetheless, when evaluating the opening 28-day interval of 2024 in opposition to that of 2023, 34 of the 48 international locations noticed constructive occupancy comparisons. This means steady demand enchancment within the post-pandemic world.
This text initially appeared on STR.