After a record summer in 2022, which itself followed on from records in certain regions in 2021, August 2023 saw a slowdown in performance when compared with the same period in 2022. The fundamentals remain the same, but certain trends are showing the beginnings of the sector entering a new cycle.
Pricing loses power Average prices have enabled hoteliers to maintain an increase in RevPAR for yet another month. Overall, they were 1.4% higher than in August 2022 - a period when prices had already risen sharply - and 22.4% higher than in August 2019. It was the midscale and upscale...
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