Business travel that takes you to destinations throughout the Americas will result in a higher hotel bill then staying elsewhere, according to info from the hotel industry data company of STR Global. The May report found the trend has been for hotels in North, Central and South America to keep increasing their average daily hotel rate (ADR), while other areas across the globe are enjoying hotel rates that are going down.
Hotels in the Americas
Occupancy rates were up by 0.5 percent across the board in the Americas, bringing the total to 67.1 percent. The average daily rate increased 4.1 percent to $121.26.
Highest ADR increase: Chicago saw the highest increase, with the ADR rising 11.4 percent for a total of $163.53 per night.
Biggest ADR decreases: Rio de Janeiro and Sao Paula saw the biggest rate decreases. The former dropped 29.4 percent to a rate of $143.64 while the latter dipped 26.3 percent to a rate of $112.43.
Hotels in Europe
Occupancy rates were up 0.7 percent across the board, giving Europe a 74.1 percent occupancy rate total. ADR decreased 13.2 percent for the US dollar, bringing the average daily rate to $128.56. However, there was a 7.5 percent ADR increase in euros to 116.97.
Highest ADR increase: Milan nabbed the slot for the highest increase, with the ADR rising 35.8 percent for a total of 167.74 euros.
Biggest ADR decrease: St. Petersburg saw the biggest decrease, dropping 44.7 percent to an ADR of 86.04 euros.
Hotels in the Asia-Pacific Region
Occupancy rates in the region increased 1.4 percent overall, bringing the occupancy rate total to 68.1 percent. The average daily rate decreased 6.9 percent, bringing the ADR down to $105.54.
Highest ADR increases: Osaka reported the highest increase in ADR, with a 24.5 percent rise in rates in local currency. Tokyo took second place, with a 12.2 percent ADR increase in local currency.
Biggest ADR decrease: The most sizable ADR decrease was seen in Hong Kong, with a reduction of ADR by 15.6 percent.
Hotels in Africa and the Middle East
Occupancy was up 3 percent, bringing the region’s occupancy rate to 65.1 percent. A 5.7 percent decrease in ADR brought the cost down to $142.54.
Highest ADR increase: The biggest increase was 8.2 percent in Doha, Qatar, landing the ADR at $192.90.
Biggest ADR decrease: The largest ADR drop was 15.8 percent in Amman, Jordan, reducing rates to $157.74.
Keep tabs on hotel stays and other expenses wherever you travel with Chrome River’s expense managment software.
- A Case Study: CSG International Saves 20–40 Hours Per Month After Switching Over
- The Future of Travel Part 2: Five Predictions for Post-Covid Business Travel And Expense Management
- The Future of Travel Part 1: Five Findings That Prove Business Travel is Here to Stay
- Elsevier: Overcoming Global Finance Complexities
- Why Mobility is a Critical Consideration for Your Expense Management Strategy
Our choice of Chrome River EXPENSE was made in part due to the very user-friendly interface, easy configurability, and the clear commitment to impactful customer service – all aspects in which Chrome River was the clear winner. While Chrome River is not as large as some of the other vendors we considered, we found that to be a benefit and our due diligence showed that it could support us as well as any large players in the space, along with a personalized level of customer care.
We are excited to be able to enforce much more stringent compliance to our expense guidelines and significantly enhance our expense reporting and analytics. By automating these processes, we will be able to free up AP time formerly spent on manual administrative tasks, and enhance the role by being much more strategic.