Choice Hotels revenue and rates increase in third quarter
Choice Hotels Asia Pacific recorded a 45% increase in RevPAR in the third quarter compared to the same period in 2019, with average daily rates (ADR) up 26% compared to 2019 figures.
The group’s Australian hotels outperformed the comparable market segment RevPAR by nearly 30%, and Choice reports that its revenue management service is paying off, with hotels using the system outperforming the market by nearly 45% over the course of the year. trimester.
Meanwhile, in New Zealand, RevPAR for the third quarter increased by 18% compared to the same period in 2019, with ADRs up by 14%. New Zealand hotels outperformed comparable market segment RevPAR by 23%, with revenue management hotels seeing a RevPAR bonus of 154% over similar hotels in the third quarter.
“Small business owners have been going through a tough time during the pandemic, which has been followed by an incredibly busy winter rebound,” said Trent Fraser, CEO of Choice Hotels Asia Pacific.
“We have seen staff shortages in the hospitality industry, meaning many owners are active in their businesses, and we are now facing inflationary pressure through 2023.
“As these pressures impact hospitality businesses, this will open up opportunities to engage with us, with a particular focus on revenue management and profitability, reservations, distribution and sourcing savings.”
Direct online bookings also exploded in the third quarter, with bookings through ChoiceHotels.com and the Choice Hotels app increasing 132% over the same period in 2019.
“Generating reservations is a key driver right now, and we’re proud to see the benefits through the ChoiceHotels.com website and our Choice Privileges app,” Fraser said.
“These channels broke direct online booking records from the previous year and it is exciting to see our investment in these technologies and our continued local and regional marketing efforts to deliver room nights to our hotels.”