Global Luxury Hotel Performance Shows Clear Winners and Losers
Hotels in Leisure Destinations Easily Outperform Urban Locations During Pandemic
Luxury hoteliers took full advantage of pent-up room demand from high-end travelers and exerted pricing power in resort destinations around the globe, according to occupancy and average daily rate analysis by STR, CoStar's hospitality analytics firm.
Higher vaccination rates and loosening travel restrictions spurred travel interest to resort areas worldwide. However, because global vaccination and quarantine rules were inconsistent and subject to change from country to country, hotel guests often chose to stay closer to home, as evident in the higher room rates achieved in rural resort destinations in many countries.
