The U.S. hotel industry posted its highest average daily rate and revenue per available room on record in 2023, according to STR
Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+8.8% to 81.6%), ADR (+8.5% to US$301.22) and RevPAR (+18.1% to US$245.77).
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The new face of hospitality - While traditional hotel stays remain popular, the industry now offers innovative models for diverse, discerning travelers.
Virtuoso on technology, longevity and diversity in luxury travel - Too many people focus on the idea that technology will replace travel agents. In reality, it has only enhanced what they do.
OTAs must remain agile amid rapid change - While AI helps OTAs roll out features faster, errors in travel bookings or customer service can cause major customer stress.
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