Although 2017 was a mixed bag for North American hoteliers, 2018 is already shaping up to be much better, according to hotel consultancy TravelClick, which today published the results of its January 2018 North American Hospitality Review (NAHR).
According to TravelClick, both bookings and rates are up across all travel segments. Reserved occupancy, for instance, is up 2.1 percent year-over-year for the first quarter of 2018 while average daily rates (ADR) are up 0.7 percent.
Transient leisure travel is responsible for most of the gains: Although ADR for the segment is up just 0.5 percent for the first quarter so far, reserved occupancy and revenue per available room (RevPAR) are up 6.8 percent and 7.3 percent, respectively. For group travel, meanwhile, reserved occupancy, ADR, and RevPAR are up 0.1 percent, 1.1 percent, and 1.2 percent, respectively.
TravelClick's outlook for the remainder of 2018 looks similar: Committed occupancy and ADR for the next 12 months are up 6.3 percent and 0.9 percent, respectively, for the transient leisure segment, and 1.9 percent and 1.8 percent, respectively, for the group travel segment.
"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 TravelClick Senior Industry Analyst John Hach. "There is a healthy balance of group, transient leisure, and business demand, which shows sustainability throughout the upcoming year."