More global markets above pre-pandemic occupancy levels, highest RevPAR in Mediterranean-facing countries

STR’s latest global bubble chart update shows strong top-line performance indicators for much of the world during the four weeks ending 20 August 2022. Among the developments since our previous update, countries around the Mediterranean region led in overall performance, while more markets overall eclipsed pre-pandemic levels of occupancy. 

Among the 48 countries with room supply of more than 50,000 hotel rooms, 11 reported occupancy above 75%, which was four more than the previous 28-day period. Greece, Italy, France, and Croatia remained in the top five performing countries on a revenue-per-available-room (RevPAR) basis with Israel recently added to the mix. Each of those countries’ connection to the Mediterranean Sea reflects strong demand for summer holiday destinations. 

Two-thirds of selected countries (33 of 48) grew RevPAR from the comparable period in 2019. Six countries recorded gains in both occupancy and average daily rate (ADR), which was three higher than the previous update. Only seven countries remained below 80% of 2019 occupancy levels compared with 11 countries previously. However, the recurring story of Asia Pacific countries lagging those in other regions continued with COVID restrictions still being implemented. 

Nearly one-third of markets grew both occupancy and ADR from 2019 comparisons. That was 40 more markets than the previous update (276 of 900), which reflects a stronger and more balanced recovery across the world.

Event-driven demand was apparent in Birmingham during the Commonwealth Games as occupancy and ADR grew 9% and 70%, respectively, from 2019 levels. 

In China, one market did continue to stand out as Hainan continued its strong summer in the top five RevPAR growth markets. The story could be different in our next update due to a recent COVID lockdown. 

For more information, be sure to check out our weekly updates in STR’s Market Recovery Monitor.

If you are interested in purchasing the data behind this visual, please contact destininfo@str.com.