Knowland and Amadeus Share Q1 2024 Efficiency Index Knowledge

ARLINGTON, Virginia—Knowland and Amadeus offered the metrics from the businesses’ Hospitality Group and Enterprise Efficiency Index. Starting with the primary quarter of 2024, the Index focuses on year-over-year (YOY) efficiency. This primary report reveals the group well being index is 102.3 % YOY and 6 of the highest 25 U.S. markets have achieved 110 % in comparison with the identical time in 2023.

1. Las Vegas, Nevada | 121 %
2. Boston, Massachusetts | 121 %
3. Seattle, Washington | 119 %
4. Houston, Texas | 114 %
5. New York Metropolis, New York | 110 %
6. Minneapolis. Minnesota | 110 %

The Index combines occasion information from Knowland with resort reserving information from Amadeus’ Demand360+ enterprise intelligence answer to offer mixture views of the important thing drivers of resort efficiency. The aggregated index displays efficiency for all segments—group, company negotiated, GDS, and occasions—and reveals Q1 2024 achieved 99.9 % total well being in comparison with 2023.

Moreover, Q1 information reveals that greater than 52 % of the highest 25 U.S. markets have exceeded 100% of 2023, together with:

1. Seattle, Washington | 115.1 %
2. Houston, Texas | 107.5 %
3. New York Metropolis, New York | 106.9 %
4. Boston, Massachusetts | 106.1 %
5. San Francisco, California | 105.8 %
6. Las Vegas, Nevada | 105.8 %
7. Washington, D.C. | 104.6 %
8. Detroit, Michigan | 104.0 %
9. Miami, Florida | 102.4 %
10. New Orleans, Louisiana | 101.8 %
11. Chicago, Illinois | 101.4 %
12. Nashville, Tennessee | 101.3 %
13. Tampa, Florida | 101.0 %

Insights from the Index are as follows:

• Group continues to be the top-performing income phase attaining 102.3 % total well being index with room nights at 99.1 % of final 12 months whereas ADR elevated 3.2 %.
• Negotiated and GDS efficiency rally to 2023 ranges. Negotiated achieved a 97 % total well being index. Room night time manufacturing was 93.6 % of Q1 2023 whereas ADR elevated by 3.6 %. GDS achieved a wholesome 100% total well being index with room night time manufacturing at 98.2 % of final 12 months and ADR growing 1.8 %.
• Occasion quantity confirmed robust efficiency with conferences getting larger. Conferences proceed to offer stability for accommodations after the 2023 growth 12 months. Common attendees have been up 25 %, from 116 to 145 estimated variety of company, and the typical area used was up 31.1 %, from 3,037 to three,981 sq. toes.
• The stabilization of enterprise segments is clear. The great well being index has demonstrated enchancment, rising from 94.5 % in This autumn 2023 to 99.9 % in Q1 2024, indicating inherent stability and robustness throughout all sectors as natural development positive aspects prominence.