7 stocks for 2023: 4 and 5 star hotels to record a growth of 15%
In 2018, the 4 and 5 star hotels recorded an average occupancy rate of 76.6 percent, up by 1.1 percent compared to 2017, according to the World Travel and Tourism Council (WTTC).
WTTC said 8,222 new rooms were added to the market in 2018, a growth of 8.4 percent.
In January 2019, the occupancy rate of 5 star hotels rose by 3.9 percent to 72.8 percent, while the occupancy rate of 4 star hotels rose by 0.7 percent to 76.8 percent, according to the latest data released by STR Global.
The 5 star hotels recorded a RevPar growth of 2.3 percent to $173.27, while RevPar for 4 star hotels recorded a growth of 2.8 percent to $125.72.
In 2018, the average occupancy rate of 5 star hotels was 74.3 percent, up by 1.3 percent compared to 2017, while the average occupancy rate of 4 star hotels was 75.1 percent, up by 0.4 percent compared to 2017.
In January 2019, the occupancy rate of 5 star hotels rose by 4.3 percent to 72.7 percent, while the occupancy rate of 4 star hotels rose by 1.4 percent to 76.2 percent.
The 5 star hotels recorded a RevPar growth of 3.3 percent to $170.51, while RevPar for 4 star hotels recorded a growth of 3.3 percent to $125.51.
In January 2019, the occupancy rate of 5 star hotels rose by 3.4 percent to 72.7 percent, while the occupancy rate of 4 star hotels rose by 1.4 percent to 76.2 percent.
