Boutique Resort Report reveals sturdy US RevPAR restoration
US: The 2023 version of The Boutique Resort Report, revealed by The Highland Group, reveals that fee will increase have pushed most boutique lodges to full RevPAR restoration.
The annual report covers the impartial boutique, way of life resort and comfortable model assortment segments in america.
Boutique resort groupings averaged 58 to 65 per cent occupancy in 2022. That is in comparison with all US lodges at 63 per cent occupancy.
While occupancy ranges haven’t totally returned to 2019 ranges, sturdy fee will increase in comparison with the earlier yr have enabled most class teams to attain RevPAR restoration. The impartial boutique luxurious class has achieved a $40 premium in RevPAR in 2022 in comparison with 2019.
Price will increase in boutiques ranged from 12 to 24 % in comparison with the earlier yr. All US lodges averaged a 19 per cent improve in fee in 2022 in accordance with STR.
Kim Bardoul, associate at The Highland Group, mentioned: “The boutique resort that mixes in a single day lodging with the intrigue of design, story, native relevancy, and fascinating facilities tends to draw loyalty and a superb fee premium. Continued reputation and powerful fee will increase place this product very properly for future progress.”
Over the previous 5 years, impartial boutiques have elevated in provide at a compound annual common of six per cent, adopted by way of life lodges at 11 per cent. At 18 per cent yearly, comfortable model collections elevated resort rooms on the quickest tempo since 2017.
To view The Boutique Resort Report 2023 in full, click on here. It consists of:
• Definitions of way of life, comfortable model collections and impartial boutique lodges.
• Revenues by class in 2022 in comparison with US lodges.
• Commentary on RevPAR restoration to 2019 by class.
• Working efficiency by class for every boutique phase together with occupancy, ADR, provide, and demand from 2015 by means of 2022.
• Element of room distribution by property dimension, class, and, the place relevant, model.
• Change in US market share from 2010 by phase.
• Distribution evaluation all through the 100 largest MSA’s indicating alternative for boutique resort growth.
• Three combination “HOST” model statements of 2021 earnings and expense for every phase. The Highland Group’s Mid-Yr Boutique Report will current 2022 calendar yr knowledge.
• Comparability of every phase’s 2021 RevPAR, F&B, TRevPAR, and EBITDA in comparison with US full-service lodges.
• Two combination “HOST” model statements of 2022 earnings and expense for boutique lodges with rooftop bars and excessive F&B revenues.
