Like markets, most countries have recovered RevPAR to 2019, with 41 of 48 in the 50,000 rooms group reporting higher 2023 RevPAR than 2019. The top five countries for annual RevPAR growth compared to 2019 were Brazil, Greece, Colombia, Italy, and Ireland.
The story of ADR-driven RevPAR growth continued in 2023, with only 12 countries seeing occupancy gains compared to 46 countries experiencing higher ADR. The top two countries for occupancy growth were Colombia and Saudi Arabia, at +6% and…
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