Eric Oppegaard
The second half of 2018 has experienced stable rates and bookings across all travel segments—up 1.80 percent in average daily rates (ADR) and 0.51 percent in bookings in the third quarter when compared to the prior year, according to TravelClick’s August 2018 North American Hospitality Review (NAHR). Group travel in Q3 is also up 1.81 percent in ADR and 0.50 percent in bookings, and the transient segment overall is up 1.80 percent in ADR and 0.52 percent in bookings in the same time period.
Transient business travel, however, is experiencing more pronounced growth for the quarter, up 2.56 percent in ADR, 2.81 percent in bookings and 5.45 percent in revenue per available room (RevPAR), according to the data.
“The outlook for the remainder of Q3 and Q4 RevPAR growth is continuing on the positive trajectory that occurred in the first half of 2018,” said John Hach, senior industry analyst, TravelClick. “While new reservation pace is gradually slowing, there is still organic growth in the majority of North American markets. This growth, coupled with steady ADR increases, is sustaining a profitable marketplace for most North American hoteliers.”
Read more at Lodging.
