What are lodge trade statistics?
Lodge trade statistics consult with knowledge and metrics referring to accommodations and different lodging within the trade.Â
Lodge statistics could embody occupancy charges, income figures, visitor statistics, cancellation charges, reserving channel statistics and extra.
This type of knowledge is invaluable for hoteliers who need to analyse efficiency, benchmark, forecast, and plan strategically to make sure enterprise success.
This weblog will cowl a number of the must-know lodge trade statistics for accommodations immediately.
Lodge statistics that matter in 2024
The journey trade is ready for robust restoration in 2024, which is sweet information for hoteliers, with some constructive statistics already displaying up.
- Lodge occupancy will enhance 2.5% globally subsequent yr.
- Lodge common each day charge (ADR) is projected to develop by 4.9% within the subsequent 12 months.
- RevPAR can be anticipated to develop, reaching a median of $93.
- On-line gross sales within the lodge phase will generate 80% of complete income in 3 years.
- Room demand is ready to succeed in an all-time excessive as of 2023 and proceed rising within the following years.
Be looking out for updates because the yr progresses!
International lodge trade statistics
Globally, there are a tonne of fascinating lodge trade statistics – too many to checklist. However listed here are 5 we expect are helpful plus a bunch from around the globe.
- On-line journey companies make up the prime two income producing positions in 79% of main locations.
- Airbnb is rapidly changing into a mainstay for accommodations who need to drive further income.
- The typical reserving lead time for accommodations is 29.7 days.
- The typical size of keep is 1.93 days.
- The typical cancellation charge is 20%.
US lodge trade statistics
The highest 5 income producing channels for accommodations within the US are Reserving.com, Expedia, lodge web sites (direct bookings, Agoda, and Airbnb.
Listed here are another key stats on the US lodge trade:
- The lodge market within the US is value greater than $106 billion.
- By 2027, greater than 160 million ‘customers’ shall be part of the lodge market.
- There are greater than 90,000 accommodations within the US.
- Common US occupancy charge is just below 65%.
- The U.S.’s lodging trade employs about 1.6 million individuals.
UK lodge trade statistics
The highest 5 income producing channels for accommodations within the UK are Reserving.com, Expedia, lodge web sites, hotelbeds, and world distribution programs (GDS).
Listed here are extra attention-grabbing lodge statistics from the UK:
- There are virtually 900,000 rooms accessible within the UK.
- Probably the most widespread lodge model within the UK is Premier Inn.Â
- Brighton & Hove has the very best common worth at 133 British kilos.
- Lodge market income is value near $22 billion.
- 55% of UK adults have stayed in a lodge previously 12 months.
Luxurious lodge trade statistics
Luxurious accommodations are definitely an trade unto themselves, with the market value $128.54 billion lately.
- Projections point out that the ADR of luxurious accommodations may attain.
- Luxurious properties are usually break up into a couple of foremost classes; Enterprise, Airport, Vacation, Resorts & Spas.
- 60% of luxurious company need an genuine expertise that embodies the native tradition.
- The luxurious lodge market dimension has elevated 5.9% within the final couple of years.
- The final 30 years, luxurious lodge provide has elevated by 191%.
Airbnb vs lodge statistics
Airbnb is a well-liked platform for travellers that’s nonetheless rising. It’s now additionally a very good distribution choice for a lot of accommodations if they’re small, distinctive, or boutique.Â
Listed here are some current statistics for Airbnb vs accommodations:
- Motels are nonetheless most popular, with 68% of travellers selecting them.
- Gen Z is extra probably to decide on Airbnb properties, at 21%.
- Airbnb takes roughly $450 million away from the lodge trade every year.
- Solely 10% of Airbnb bookings are for enterprise journey.
- 60% of those that use Airbnb and comparable accommodations, say they like Airbnb.
Flip statistics into lodge income
Lodge trade report: What are one of the best sources of lodge trade knowledge?
There is no such thing as a scarcity of lodge trade reviews accessible for hoteliers to make use of to achieve a greater understanding of market statistics and projections.
Just a few massive organisations put out annual reviews that take a look at stats, developments, and predictions, together with:
- Lodge Business Traits 2023 by STR – A complete overview of the lodge trade, together with key developments, market knowledge, and forecasts for the longer term.
- Lodge Horizons by PwC – Examines the worldwide lodge trade from 2023 to 2027, specializing in key developments, drivers, and challenges.
- International Lodge Business Market Report by Allied Market Analysis – Evaluation of the worldwide lodge trade, together with market dimension, development developments, key gamers, and future projections.Â
Different reviews are carried out by completely different gamers within the trade, such because the main know-how suppliers like SiteMinder.
Lodge Reserving Traits
SiteMinder’s Lodge Reserving Traits analyses greater than 100 million reservations throughout 40,000 accommodations to find key lodge statistics.Â
It identifies developments like the preferred reserving channels, which internet sites produce probably the most income for accommodations, common traveller lead instances, cancellation charges, size of keep, and extra.
It’s launched on a worldwide scale and might be segmented by nation to, to provide accommodations distinctive insights into their very own market.
Key lodge trade statistics to make use of this yr
Yearly brings some new challenges and slight adjustments in developments and stats that may have an effect on the technique of accommodations.
Right here some that ought to show probably the most helpful in your property:
Lodge loyalty program statistics
There’s a motive 94% of the world’s prime 100 lodge manufacturers and chains have a loyalty program – they’re extraordinarily efficient in driving income.
In the event you want ideas, we’ve bought a full information to lodge loyalty applications.
Lodge occupancy charge statistics
Occupancy charges ebb and stream with seasonality, financial situations, and world occasions, and are an excellent indicator of market well being in addition to particular person enterprise prosperity.
- Some main cities may see occupancy rises by as a lot as 17.5% subsequent yr.
- Occupancy rebounded strongly in 2023, with many European locations recording above 80-85% throughout summer time.
- As of the ultimate quarter of 2023, the worldwide common was 69%.
Lodge reserving statistics
Lodge reserving statistics inform hoteliers the place their bookings are coming from and the way they need to be prioritising their gross sales and advertising efforts.
- Reserving.com is definitely the preferred reserving channel however direct bookings are prime 3-5 decisions for world travellers too.
- Cell bookings make up virtually 1 / 4 of all lodge bookings.
- Nearly 60% of all lodge bookings are actually made on-line, a determine that has been steadily growing.
Lodge income statistics
Income is the underside line and it’s what all lodge stakeholders shall be most thinking about, making income developments a relentless supply of curiosity.
- Motels and tourism usually make up 10% of worldwide GDP.
- An annual income development charge of 4.2% is projected for the lodge market.
- The worldwide common revenue of accommodations is anticipated to extend to 22% within the subsequent couple of years.
Hospitality trade statistics
The lodge trade and hospitality trade are very a lot intertwined, so hospitality trade statistics definitely can impression lodge companies.
Specifically, employment within the trade is usually a scorching matter.
Hospitality trade employment statistics
Greater than 2.3 million individuals work within the lodge trade in america alone however throughout COVID the unemployment charge in hospitality jumped to virtually 20%. It was one of many hardest hit industries on the time.
- In Australia, the speed of vacant positions is greater than double what it was previous to the worldwide pandemic.
- Solely 28% of hospitality employees are on full-time hours.
- Of those that work full-time, their common hours are two hours lower than the ‘all jobs’ common.
For accommodations, employment and staffing is vital as a result of the interplay company have with employees could make or break their keep, and it impacts the lodge’s repute and income.
Right here’s the right way to construct and lead a staff of lodge employees successfully.