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TravelClick's latest hotel industry outlook for the top 25 North America markets is showing an increase of 2.1% in committed occupancy for February 2013 - January 2014 based on group commitments and individual reservations on the books as of February 3, 2013 compared to the same time last year.
The group segment shows an increase of 1.8% room nights committed. New group business added over the last month (pace) has slowed considerably over the last month, and is down -4.2% over the comparable period last year. Transient room nights booked is slightly up 2.8% compared to the same time last year. Although the demand outlook has softened slightly, average daily rate (ADR) is still showing relatively strong gains, up 3.4% based on reservations currently on the books for 2013.
For the first quarter of 2013 (January – March), overall committed occupancy is up 1.8% year-over-year for the top 25 markets. Committed occupancy for the group segment is down -1.0% and the transient segment demand is up 3.8 % compared to a year ago. ADR for the first quarter shows growth up 3.7% compared to the same time last year. Business segment ADR, which includes weekday transient negotiated and transient retail segments, is up 5.0%. Leisure segment ADR, which now includes transient discount, transient qualified and transient wholesale segments, is up 5.7%.
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