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Duetto data shows promising year end for global hotel markets

Cloud-based revenue solutions provider reports global uptick in room nights: 14% increase in room nights & 19% increase in rooms revenue for 2023

Duetto, the hospitality industry’s #1 Revenue Management Software (RMS), has released its latest look at the global hotel market, reporting positive signals in all metrics through to year-end.

Globally, Duetto data shows that room nights for this year are up 14 percent, ADR is up 9 percent, and rooms revenue is up 19 percent versus STLY.

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For North America, all segments are enjoying a 6 percent uptick in room nights for 2023, a 3 percent gain on ADR, and an 11 percent lift in room revenue for this year compared with 2022 figures.

Focusing on Q4 2023, Duetto data shows a promising year-end for hoteliers.

Globally, room nights for Q4 2023 are up 20 percent, ADR is up 14 percent, and room revenue is up 23 percent versus STLY. For North American properties, Q4 2023 is trending up 6 percent on room nights, up 5 percent on ADR, and up 17 percent on room revenue versus STLY.

“These figures show us that business levels continue to normalize, as booking patterns and demand levels fall back in line with, or in some cases exceed, 2019 figures.

“This continued growth is a testament to the resilience of the global hotel industry, which has consistently looked for new opportunities and better ways to do business in recent years,” said Chris Crowley, Chief Revenue Officer, Duetto.

Business Returns for Convention Center Hotels

Convention Center hotels are seeing huge gains over STLY. Duetto data for Q4 2023 shows a 240 percent increase in room nights and a 283 percent growth in room revenue for properties in North America.

In North America, the Extended Stay model is also performing well, with Q4 2023 showing a 19 percent increase in room nights booked and an 8 percent increase in ADR, compared to the same time last year (STLY).

Full-Service hotels in North America are showing a 14 percent increase in room nights for Q4 and a 3 percent increase in ADR versus STLY.

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