Global hotel performance is showing a surge with room nights for 2023 up 14%, according to a report by Duetto, a leading revenue management solutions provider for the hospitality industry.

 

Average daily rate (ADR) is also up 9%, and rooms revenue is up 19% versus the same time last year (STLY).

 

The report sees positive signals in all metrics through to year-end.

 

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 normalise, 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.

 

Duetto delivers a suite of SaaS cloud-native applications for hospitality businesses to optimise every booking opportunity for greater revenue impact. The unique combination of hospitality experience and technology leadership drives Duetto to look for innovative solutions to industry challenges. The software as a service platform allows hotels, casinos, and resorts to leverage real-time dynamic data sources and actionable insights into pricing and demand across the enterprise.

 

More than 4,000 hotel and casino resort properties in more than 60 countries have partnered to use Duetto’s applications, which include GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contracted-business optimization. - TradeArabia News Service