Strong Recovery Indicators for Remainder of 2022
Skift Take
- The DJIA dropped 1.54%, Nasdaq fell 2.84%, the S&P 500 declined 2.11% and the 10-year treasury yield rose slightly, to 3.76%.
- After an outstanding summer of travel, Amadeus’ Agency360 and Demand360 data sources are showing strong recovery indicators for the remainder of 2022 and evidence of growing traveler confidence as the sector looks towards 2023.
- Service Properties Trust announced it entered into a purchase and sale agreement to sell 16 Marriott branded hotels totaling 2,155 keys for $137.3 million.
The DJIA dropped 1.54%, Nasdaq fell 2.84%, the S&P 500 declined 2.11% and the 10-year treasury yield rose slightly, to 3.76%.
After an outstanding summer of travel, Amadeus’ Agency360 and Demand360 data sources are showing strong recovery indicators for the remainder of 2022 and evidence of growing traveler confidence as the sector looks towards 2023. Amadeus’ in-depth Demand360 business intelligence data reveals that global hotel occupancy has exceeded pre-pandemic levels consistently throughout the summer. For July and August 2022, hotels have seen a global occupancy average of 67% compared with an average of 64% over the same timeframe in 2019. Mirroring the recovery of occupancy rates is the stabilization of booking lead times. 2022 now virtually matches the booking behaviors seen in 2019 with 53% of bookings made in the 0-7 day window versus 50% of bookings made in this timeframe in 2019. ADR also continue
