“While most global regions were impacted by omicron in early 2022, top-line performance recovery made big waves in the latter half of the year,” said Robin Rossmann, STR’s managing director. “The industry’s resilience has been underpinned by significant pent-up leisure travel over the summer along with the return of corporate demand, as the nature and length of this business travel has evolved. Unlike previous downturns, room rates have been the key driver of recovery as each of the global regions, excluding Asia, showed an ADR increase over 2019. Though occupancy came in below the pre-pandemic comparables, the metric is anticipated to stabilize throughout 2023. Despite economic headwinds, the industry is operating from a position of strength in the new year.”
US$ constant currency, 2022 (percentage change from 2019):
Europe
Occupancy: 64.6% (-10.5%)
Average daily rate (ADR): US$148.97 (+18.5%)
Revenue per available room (RevPAR): US$96.25 (+6.1%)
Asia
Occupancy: 52.3% (-23.7%)
ADR: US$84.38 (-9.9%)
RevPAR: US$44.16 (-31.2%)
Australia & Oceania
Occupancy: 63.9% (-13.6%)
ADR: US$162.34 (+20.8%)
RevPAR: US$103.74 (+4.3%)
Middle East
Occupancy: 63.6% (-3.3%)
ADR: US$173.10 (+22.2%)
RevPAR: US$110.12 (+18.2%)
Africa
Occupancy: 54.2% (-10.7%)
ADR: US$140.74 (+38.3%)
RevPAR: US$76.29 (+23.5%)
North America
Occupancy: 62.5% (-4.9%)
ADR: US$148.39 (+13.9%)
RevPAR: US$92.77 (+8.3%)
South America
Occupancy: 57.0% (-3.2%)
ADR: US$87.57 (+30.3%)
RevPAR: US$49.93 (+26.2%)
