Robust hotel pricing trends amidst shifting global dynamics
OTA Insight released its mid-year report on the state of global hotel pricing, showing a notable rebound in ADR for the global hotel industry
OTA Insight today released its mid-year report on the state of global hotel pricing. The report provides a comprehensive overview of global hotel room rates in H1 2023, revealing industry trends and setting the stage for the remainder of the year.
Key takeaways
- While room prices in North America remain above pre-pandemic levels, the region shows signs of slowing growth, potentially due to rapidly increasing interest rates and declining real incomes;
- Short-term rentals in Europe have seen high demand, recording a consistent 2%+ month-on-month growth rate in 2023;
- Asia has recovered strongly with advertised prices 19% higher in H2 2023 compared to H2 2022.
Get the full report at OTA Insight