myDigitalOffice, the information management and back-office automation platform for hotels, recently launched the MAPP report (Market Analytics, Pace and Performance), a free data resource that offers forward-looking hotel performance data to enable hoteliers to visualize future market recovery in real time.
Recent data out of the US shows promise for the month of July. Some markets and classes, as of 7/21, were seeing occupancies of over 40% for the month. As we look further out, however, most occupancies are still in the teens and twenties. Given the short booking windows that we’ve seen over the past couple of months, it will be interesting to watch as these future dates continue to pick up. Below are more insights, using future business on the books for July, August, and September, that compare ‘as-of’ dates of 7/14 and 7/21.
- Economy and midscale hotels continue to lead with occupancy rates.
- Luxury hotels, looking out to August and September, saw week-over-week declines in both occupancy and ADR.
- The delta between luxury and economy rates seems to continue to increase as the booking window increases.
- Conversely, the delta between luxury and economy occupancy levels decreases the further out you look, suggesting that the bulk of short-term booking windows, and even walk-up traffic, tend to favor the lower chain scale hotels.
Chuck Jones, Vice President at PeachState Hospitality, recently described why they subscribe to this free market resource.
“Participation in the MAPP report is a no brainer,” Jones stated. “It helps us see how the markets we serve are doing from a forecast and on-the-books perspective. Our industry has great retroactive reporting, but there is little that helps us truly see what’s coming down the pipe — this helps greatly.”
With forward-looking business on the books data, hoteliers are able to make future planning decisions much sooner. Opt in today to get started with your portfolio.