Who says performance is slowing down?

GLOBAL REPORT - “Normalizing” results still look very good for hoteliers with new data from STR for four weeks ending June 15 revealing 65% of markets with year-over-year growth in RevPAR. The percentage has remained between 60% and 77% even with much of the world firmly positioned in a normalization period.

Among countries with at least 50,000 rooms and adequate hotel reporting levels, Greece, Singapore, Switzerland, France, and Italy posted the highest RevPAR on an actual basis. Four of these five leaders saw RevPAR higher than the comparable period last year, with only France seeing a year-over-year performance decline as the country prepares for the Paris Olympics in July. Also notable, Greece's ADR reached $389 with occupancy above 83%, even before the summer holidays began.

Excluding countries with turbulent socioeconomic conditions, the leaders in year-over-year RevPAR growth were Saudi Arabia, Greece, Japan, Indonesia, and South Korea. Japan remained in the top spot thanks to its strong rate growth. Growth among these leaders was largely driven by the respective country’s biggest travel destinations. For example, Bali saw RevPAR grow by more than 26%, and Seoul by 25%. Saudi Arabia’s performance was impacted by the calendar shift of religious events with ADR growth higher than 50%.

Business events typically drive performance in Germany, and Düsseldorf's performance was fueled by hosting several triennial and quadrennial tradeshows.

Additionally, the Eras Tour expectedly left a mark in Europe, with Madrid seeing its RevPAR increase by 36% compared to last year.

Overall, 40 of 48 countries with hotel supply greater than 50,000 rooms recorded growth in RevPAR from 2023. That was the highest number since STR began these updates years ago.

Excluding provincial areas and country markets, the top RevPAR performers were Tokyo, Kyoto, Düsseldorf, Athens, and Madrid.