There is a sense of buoyancy in the global hospitality industry as we head into the fourth quarter of 2023. According to new Demand360 business intelligence data from Amadeus, global hotel occupancy levels up to the end of August have been an average of 10% ahead of 2022. For the fourth quarter, worldwide on-the-books occupancy data reveals that reservations are trending 11% ahead of those seen in 2022.
In a further boost to hoteliers, global RevPAR has grown by an average of 17% year to date, when compared to rates achieved in 2022. France is leading the way, with RevPAR sitting 123% ahead of the worldwide average. A RevPAR spike was also recorded in June this year in France, with rates hitting $422, some 220% more than in the U.S. during the same month.
The findings are explored in a new Amadeus report, “Hospitality data trends 2023: The opportunities ahead.” The report reveals current and forward-looking on-the-books occupancy data, alongside RevPAR and booking lead times for hotels and short-term rentals.
Amid global growth, Europe is leading the hospitality charge. Occupancy in Europe has for the first time narrowly overtaken the U.S. over the course of the year and is looking forward to a strong last quarter where on-the-books reservations are currently 20% ahead of the worldwide occupancy average for Q4. Key cultural hotspots—including Florence, Rome and Athens—have seen strong occupancy over the summer, with more to come heading into the cooler months.
Destinations and cities with large-scale events on the horizon are also seeing traction. Beyoncé is creating headlines with the Renaissance World Tour. In Seattle, the superstar played at Lumen Field on Sept. 14, driving a spike in hotel demand. Hotel occupancy for Sept. 9-11 in Seattle stood at an average of 83%, increasing to an average of 96% for Sept. 12-14 as fans arrived and stayed for the show. Occupancy was boosted 36% on the night of the show compared to the same night in 2022.
Similar spikes in occupancy are being seen in France during the Rugby World Cup, with demand in host cities increasing according to forward-looking, on-the-books occupancy data. Paris and Nice are up 5% compared to the same period in 2022, while Marseille is up 7%, indicating increased demand for hotel rooms during the event.
