Disney World started taking 2025 reservations on Tuesday and announced a ticket price hike for next year. But park-goers who stay at one of 31 on-site Disney hotels will get a very cool perk: complimentary waterpark admission on check-in day.
09.02.2024 - 13:17 / skift.com / Pranavi Agarwal / Skift Research
Last week, Skift Research published our Global Travel Outlook. The main takeaway was that 2024 will be a year of .
Inflation is slowing and we’re moving away from post-Covid splurging. The big question in the hotel industry remains: Will pricing strength continue this year?
We answer this question in detail in this freeSkift Research report. Click here to download. Price gains may slow from the double-digit gains we’ve seen, but on an absolute level, we believe prices will keep rising. There are three key reasons, as seen in the following charts:
Hotel rates have risen 20% above 2019 levels in the U.S. But that doesn’t take inflation into account. Make that adjustment, and rates are in line with pre-Covid levels – i.e. hotel prices haven’t seen any growth.
Normally occupancy growth and ADR (Average Daily Rates) growth move in sync with each other. The period through the Covid pandemic proved to be an exception. As we wrote last year in Recession Watch: Hotel Chain Scale Analysis 2023, the Covid recovery has seen ADRs lead occupancy.
As we enter a more normalized post-Covid world, we should again see a more balanced recovery between occupancy and ADRs.
As shown in the chart below, in 2022 and 2023, global ADRs were above pre-pandemic levels, but occupancy levels still below, meaning that there is still scope for demand recovery in 2024 – and with that comes further RevPAR growth. This is especially true in times of greater demand growth over supply growth, with excess demand resulting as both increased occupancy and increased ADR. Both contribute positively to RevPAR growth.
While U.S. demand growth has normalized throughout 2023, at 1.3% growth as of November 2023, it still leads supply growth of only 0.5%. Hotel supply continues to be constrained in the U.S. post pandemic, held back by high construction costs and high interest rates in a tough financing environment. Low levels of supply in the U.S. market, met by strong and robust demand amidst a high inflationary environment all contribute to strong ADR growth rates.
In conclusion, while 2023 saw hotel growth rates plateauing after more than three years of double-digit pricing growth, 2024 isn’t likely to see flat or declining hotel pricing. Despite moderating inflation and demand normalization, two crucial factors ensure further, albeit slower, price climbs: occupancy rates still haven’t fully rebounded from the pandemic dip, and demand growth continues to outpace constrained supply with excess demand manifesting as real ADR growth.
While double-digit growth may become a relic of the past, we expect that prices will continue rising in 2024, displaying real growth above inflation.
Click here to download the full report for free, as well as
Disney World started taking 2025 reservations on Tuesday and announced a ticket price hike for next year. But park-goers who stay at one of 31 on-site Disney hotels will get a very cool perk: complimentary waterpark admission on check-in day.
Marriott International expects to open 14 hotels in South Asia this year, 12 of which will be in India, adding approximately 1,200 rooms to the hotel chain’s existing portfolio in the country.
Marriott International saw an expansive growth of its business across Latin America and the Caribbean in 2023, an important segment that drove its overall record business and development pipeline for the year.
Families in Scotland were expecting to taste chocolate treats and observe “optical marvels” at a Willy Wonka-themed event in Glasgow this past weekend. Instead, they got a couple of jelly beans, a short walk around a nearly empty warehouse and a visit from police officers.
Global hospitality heavyweights are investing in the British capital with new hotels, and they're betting big. Raffles repurposed the landmark Old War Office—Churchill's erstwhile HQ—while the Peninsula broke new ground just opposite the Buckingham Palace garden, both brands staking claims in prime London real estate. Waldorf Astoria and Six Senses will soon follow suit with their own local debuts, while Rosewood and Mandarin Oriental plan to open second properties. But don't let the big names drown out boutique newcomers like the whimsical Broadwick Soho, a glittering reminder of the homegrown English charisma that makes London a must-visit in the first place.
Want to talk pressure? Imagine making dinner for your boss every night. Now, imagine said boss being Patrick O’Connell, the world-renowned chef with a pantry full of accolades and the proprietor of longest-running double Forbes Travel Guide Five-Star for The Inn at Little Washington (it’s won every year since 1989) and its distinguished restaurant (a winner since 1991) of the same name. Our slotted spoons are shaking at the mere thought. But that’s exactly what the inn’s junior culinary staff does each evening to ensure a stellar dining experience for its patrons.
CoStar Group, the real-estate data giant, was hit last week with a consumer class action lawsuit alleging it enabled several hotel operators, such as Marriott and Hilton, to artificially boost their hotel rates.
Steam locomotives were a widely used means of transportation in 19th-century America, but we've mostly moved on to more efficient (and less sooty) ways to get from one place to another.
In July 2026, the FIFA World Cup is coming to North America, with games played in Mexico, the United States, and Canada. The World Cup is held every four years and is one of the largest, if not the largest, sporting events in the world. Sixteen cities will host the 48 teams. But where the biggest game will take place, the final, won’t officially be announced until February 4.
When Mario Matulich thinks of hotel chains with great customer service, he thinks of Marriott, IHG and Hilton — especially Hilton.
Low-cost carrier Avelo Airlines has doubled its flights from Sonoma County by adding four new routes.
The hotel company that developed the retro-chic TWA Hotel at New York’s John F. Kennedy International Airport has bought London’s iconic BT Tower, one of London’s most conspicuous buildings, from British Telecoms Group for $347 million.