Supporting Revenue Health: Hotel Spas Were Valuable Contributors During the Recession
As of year-end 2022, the average hotel in CBRE’s Trends in the Hotel Industry survey sample had surpassed its 2018 total revenue figure by 1.5 percent. This was achieved even though the average hotel had rented 8.2 percent fewer room nights in 2022 than it did in 2018. The revenue increase was largely due to continued improvement in ADR and revenue from other sources. The strategy to drive revenue from other sources was in direct […]
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