COP29 boosted Baku’s hotel ADR by 1,263.2% and RevPAR by 2,980.4%, setting new records for the city during the conference.
The 29th Conference of the Parties (COP29) drove Baku’s hotel average daily rate (ADR) and revenue per available room (RevPAR) to record-high levels, according to data from CoStar.
The market’s performance peaked on the first night of the conference (11 November) with ADR up 1,263.2% year over year to AZN 2,256.69. RevPAR that night grew 2,980.4% to AZN 1,981.39. Both metrics remained above AZN 1,000 throughout the entire conference period, as this was the first time in history that Baku posted four-figure hotel room rates.
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