Cendyn’s Sales Intelligence platform—formerly known as Knowland—has collaborated with Amadeus, a provider of travel intelligence and technology solutions, to publish updated metrics from their Hospitality Group and Business Performance Index. For the third quarter of 2024, the index reflects an impressive overall health metric of 107.9% year-over-year (YOY), marking the highest rating in the past four quarters.
- Houston: 120%
- New Orleans: 118%
- Chicago: 114.8%
- New York City: 112.1%
- Washington D.C.: 111.1%
- Philadelphia: 110.7%
- Boston: 110.3%
- Detroit: 110.1%
- Seattle: 109.7%
- Denver: 108.1%
All top 25 markets, aside from San Francisco, recorded index scores exceeding 100%, with Houston and Philadelphia leading in GDS performance. Notable growth markets include New Orleans (152.6%), Chicago (123.6%), and Houston (115.3%).
The index merges event data from Cendyn’s platform with hotel booking insights from Amadeus’ Demand360 solution, offering a comprehensive view of key factors influencing hotel performance. This aggregated index represents performance or “health” across all segments, including group, corporate negotiated, global distribution system (GDS), and events. It provides filters for market segments and booking industries, enabling hotels, destinations, and convention bureaus to fine-tune their strategies efficiently.
Key findings from the index include:
- Overall Health: Q3 achieved the highest index rating over the past four quarters, registering at 107.9% and marking the second consecutive quarter above 100%.
- Group Performance: Overall group performance hit 106.1%, driven by a 1% increase in room nights and a 5% rise in ADR, demonstrating eight straight quarters of growth.
- Indirect Channels Lead Growth: GDS showed continued growth this quarter, reaching 113.5%, compared to 112% in Q2, led by an 11% rise in room nights and a 2.4% increase in ADR.
- Negotiated Performance: Negotiated segments saw steady growth, with an overall increase of 101.6% despite a slight 2.2% drop in room nights and a 3.9% uptick in ADR.
- Events Following GDS: The events segment ranked second after GDS, with notable improvements recorded this quarter, achieving 110.2% compared to the same period last year.
- Meetings as a Growth Driver: The meetings and events sector contributed to growth across hotels of various sizes, maintaining an average attendee count of 136. The average space utilized remained consistent with a slight decrease from 4,025 to 3,766 sq. ft. Notable meeting volumes included Las Vegas at 124.1%, Detroit at 123.5%, and Atlanta at 123%.
This article originally appeared on hotelbusiness.com
