The economy seems to be breathing a little easier, at least for the moment. That means business travel is back in a big way. If you want proof, look at the hotel occupancy rate (HOR) and average daily rate (ADR). According to STR Global, ADR is steadily rising in all four global regions. In the Americas, the July ADR almost hit $125, which was up 5.8% YOY. This is mirrored by Europe’s 8% increase to $133.24, EMEA’s 5.3% increase to $159.10, and APAC’s subtler 1.1% increase to $105.12. PricewaterhouseCooper’s 2015 Hospitality Directions Report, as summarized by Business Travel News, estimates that the year’s ADR will level out at about $120.79, which is up 5% from last year.
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Hello Economy. Welcome Back.
