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In the final weeks of 2023, events, festivals and holiday activities were the main drivers of travel and hotel performance around the world, according to a new report from STR. The report found that while shifting Art Basel back a week had a negative impact on Miami’s RevPAR, down 50.6% from previous years, college football championship games provided a boost to hotels in urban markets across the U.S. like Indianapolis, which hosted the Big 10 Championship. The correlation between large events and increased RevPAR isn’t a new phenomenon, but tightening markets and an increased desire for experience-based travel is evident. Gencom’s portfolio is strategically positioned to capitalize on these shifting trends, from providing proximity to the action with The The St. Regis Chicago to offering options in other destinations like New Orleans and Nashville with select Provenance Hotels such as Old No. 77 Hotel & Chandlery and Hotel Preston. Learn more via CoStar News: https://bit.ly/48OxNmJ

Global Hotel Performance Largely Tied to Festivals, Football, Other Events

Global Hotel Performance Largely Tied to Festivals, Football, Other Events

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