Uptick in Rates & Bookings Across All Travel Segments as 2018 Begins
NEW YORK—TravelClick has released new data from the company’s “January 2018 North American Hospitality Review (NAHR).” According to this data, North American hoteliers are starting 2018 with gains across all travel segments in the first quarter, up 0.7% in average daily rates (ADR) and up 2.1% in bookings.
The transient leisure segment in particular stands out during the first quarter, with the bookings uptick 6.8% and strong RevPAR up 7.3%.
“The inconsistency that most hoteliers experienced throughout 2017 has substantially subsided in recent months, proving that 2018 is already off to an encouraging start,” said John Hach, senior industry analyst, TravelClick. “There is a healthy balance of group, transient leisure and business demand, which shows sustainability throughout the upcoming year.”
For the next 12 months (January – December 2018), transient bookings are up 3.2% year-over-year, and ADR for this segment is up 1.2%. When broken down further, the transient leisure (discount, qualified and wholesale) segment is up a solid 6.3% in bookings, and ADR is up 0.9%. Additionally, the transient business (negotiated and retail) segment is down 0.7% in bookings, but ADR is up 2.5%. Lastly, group bookings are up 1.9% in committed room nights over the same time last year, and ADR is up 1.8%.
“Even though economic concerns have subsided in recent months, hoteliers still need to be acutely aware of their local market prices, especially in creating value by room type during these winter months where demand levels often slip,” added Hach. “Taking advantage of meta shopping business intelligence and forward looking data are great ways for hoteliers to ensure that they have all of the necessary information to make informed decisions.”
The January NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by January 1, 2018, from the period of January to December 2018.