STR Weekly Insights: 7-13 January 2024 ...Middle East

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STR Weekly Insights: 7-13 January 2024
source : hospitality net ( Middle East ) () 11
Early January is generally a slow period for the hotel industry. Thus, this week’s robust gain (+6.3%) in average daily rate (ADR) came as a surprise given occupancy was down 1.5 percentage points (ppts). A closer look revealed that most of the growth was due to a single market—Las Vegas, which hosted the annual Consumer Electronics Show (CES) a week later than in 2023. U.S. revenue per available room (RevPAR) advanced 3.3% due to the ADR boost.

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