Presenting the Moore Hotels Quarterly - H1 2023 Report!
The first six months of 2023 have been very significant in the hotel industry. Discover the key trends and insights shaping our evolving world of hospitality in the Moore Hotels Quarterly - H1 2023 Report.
These short reports are based on quarterly earnings reports of select leading, internationally branded hotel companies. We compiled and analysed data to draw conclusions that can be projected to the global hotel industry at large. This series is published quarterly with the intention to serve as a new source of credible and interesting information for industry stakeholders of all kinds.
For data compatibility we have picked and analysed companies traded on U.S. stock exchanges, namely Marriott International (NASDAQ: MAR), Hilton Worldwide Holdings (NYSE: HLT), InterContinental Hotels Group (NYSE:IHG and LON:IHG), and Hyatt Hotels Corporation (NYSE: H).
In the initial half of 2023, key performance indicators was on a remarkable upward trajectory. The average Revenue per Available Room (RevPAR) has surged to USD 110.7, eclipsing even the 2019 H1 figure, defying earlier expectations. “Across the board, the Average Daily Rate (ADR) now stands at a robust USD 160.6, not just as a sign of recovery but as evidence of sustained demand resilience, fueled by people's unwavering desire to explore.” said Takacs. “Even in the face of economic and societal pressures, individuals are prioritizing travel, and hotels have been effectively incorporating inflationary effects into their pricing strategies. This isn't merely about bouncing back; it's about channeling the strong human will to journey, even amidst challenges.”