In September 2019, monthly European average daily rates (ADRs) stood at 142. Daily hotel prices were the lowest in the Asia Pacific region during the same month.

Hotel rate changes worldwide

In each region, corporate average daily hotel rates are forecast to increase by 2020. Asia’s rates are predicted to be higher than the global average, increasing by about three percent. Latin America should see a smaller rise of about one percent, due to the more modest growth in demand within this region.

Hotel occupancy rate

Daily rates in the hotel industry tend to change throughout the year as they are closely linked to hotel occupancy rates. Specific regions are visited more frequently during certain times of year. For instance, hotel rooms in the Americas were rented more frequently during the summer months, compared to the colder winter months in 2019. Overall, the United States hotel lodging industry had an occupancy rate of roughly 66 percent in 2018.