Global News

Long-Haul travel sentiment to Europe improves despite high global inflation

 The desire for overseas travel in 2023 has increased significantly in large travel markets compared to a year ago. Over 60% of potential travellers in Australia, Brazil, Canada, China, and the US intend to travel long-haul in 2023, with Europe being top of mind. Travel sentiment to Europe in the first four months of the year has also improved, with the most notable year-over-year increases observed in China (+21 points) and Brazil (+13 points). The exception to these positive trends is Japan, with 27% of respondents enthusiastic about long-haul trips in 2023 as a whole and 13% between January and April.

Global News

Third Quarter trading update to 30 September 2022

Q3 group RevPARa +28% vs 2021; +2.7% vs 2019, with Americas +6.8%, EMEAA (0.1)% and Greater China (20.0)%
Average daily rate +13% vs 2021, +11% vs 2019; occupancy +8%pts vs 2021, -6%pts vs 2019
Gross system size growth +4.3% YOY; opened 8.0k rooms (51 hotels) in Q3, similar to Q2 and ahead of Q1
Underlying removal rate -1.7% YOY; removals YTD equate to an annualised underlying rate of -1.3%
Net system size growth +2.6% YOY on an adjusted basis
The global system of 888k rooms (6,061 hotels); 67% across midscale segments, 33% across upscale and luxury
Signed 13.2k rooms (89 hotels) in Q3, similar to Q2 and last year; global pipeline of 278k rooms, +2.9% YOY

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