It's remarkable the vast range of performance post COVID at a country level. Here you have the top 20 countries by hotel room supply (how many of you would have guessed all 20 correctly?) and their June YTD RevPAR indexed to 2019.
One big caveat.... this is in USD - so dollar strength is punishing many countries on this metric.... that being said, using USD does help to mitigate the inflation boosting some of these countries (e.g. local/constant currency would see Turkey in first place indexing at 535 and Brazil in 2nd at 149)
Some observations...
Even though it's USD, the US is sitting in 12th place. I don't think many would have guessed that. The underlying reason is that for many countries ahead in the leaderboard, it's the outward bound US traveler that's underpinned their success.... and that demand has not yet been replaced by inbound tourism to the US... because of the strong dollar.
Mexico, Italy, France, Greece and the UK are all saying a big "Thank you" to the American Tourist.
Another note on the UK, rooms being occupied by migrant/refugees now account for, we estimate, 5% of all hotel rooms sold which is lifting country level performance.
At the bottom end of the table, or as I like to think of it, best opportunities for good value travel (and biggest opportunity for growth going forward)... Germany has continued to struggle with depressed domestic demand and missing inbound international demand. Japan is second last is a underpinned by later re-opening of international boarders a yen weakness (I visited in March and it was much better value as a tourist than is perceived). China has the greatest opportunity for future growth - if you need the reasons, check the headlines on the economy and look at how international flight capacity is still way below pre-COVID peaks.
What did I miss?
#costar #hospitality #benchmarking
Pricing Analyst | Market Trend Analysis & Forecasting | Excel & Salesforce | MicroStrategy & Data Visualization
1moLooking forward to more positive trends like this!