Amadeus and Cendyn’s Sales Intelligence platform, formerly known as Knowland, have released the Q3 “Hospitality Group and Business Performance Index.” For the third quarter of 2024, the Index shows an overall health metric of 107.9 percent year-over-year, showing the highest overall index rating in four quarters. These include:
- Houston – 120 percent
- New Orleans – 118 percent
- Chicago – 114.8 percent
- New York City – 112.1 percent
- Washington DC – 111.1 percent
- Philadelphia – 110.7 percent
- Boston – 110.3 percent
- Detroit – 110.1 percent
- Seattle – 109.7 percent
- Denver – 108.1 percent
All of the top 25 markets except San Francisco achieved an Index score over 100 percent, with Houston and Philadelphia reaching the highest scores for GDS performance. The top group growth markets were New Orleans (152.6 percent), Chicago (123.6 percent), and Houston (115.3 percent).
The Index combines event data from Cendyn’s Sales Intelligence platform with hotel booking data from Amadeus’ Demand360 travel intelligence solution to provide aggregate views of the key drivers of hotel performance. The aggregated index reflects performance or “health” for all segments—group, corporate negotiated, global distribution system (GDS) and events. It offers filters for event market segments and booking industries, empowering hoteliers, destinations, and convention and visitor bureaus to adapt strategies effectively.
Key insights from the Index are as follows:
- Overall health – Q3 saw the highest overall index rating in four quarters, at 107.9 percent, and the second consecutive quarter over 100 percent.
- Group performance – Overall group performance was at 106.1 percent due to a one percent increase in room nights and a 5 percent increase in ADR with eight consecutive quarters of growth.
- Indirect channels lead growth again – Overall, GDS grew again this quarter with 113.5 percent, compared to 112 percent in Q2. This was due to an 11 percent increase in room nights and a 2.4 percent increase in ADR.
- Negotiated performance – Negotiated performance showed steady growth against last year. Overall growth was at 101.6 percent due to a -2.2 percent decrease in room nights and 3.9 percent increase in ADR.
- Events come in second to GDS – Events were the second highest segment next to GDS, with significant improvement over the last quarter. Volume was 110.2 percent of the same period last year.
- Meetings continue to provide growth opportunity – Hotels of all sizes in Q3 experienced growth due to the meetings and events industry. The average attendee size held steady at 136 guests. The average space used was consistent with Q2 moving slightly from 4,025 to 3,766 square feet. Las Vegas meeting volume was at 124.1 percent, Detroit was 123.5 percent, and Atlanta 123 percent.
The “Hospitality Group & Business Performance Index” uses a multi-factor weighting system that balances metrics such as group, corporate transient, and GDS room nights with average daily rate (ADR) performance. Each factor is averaged to provide a final index score, ensuring a more accurate overall performance assessment.
Source: Amadeus
Related Stories
Amex GBT Releases 2025 Meetings & Events Forecast
GBTA: Who Holds Responsibility for Safe Ground Transport?
Global DMC Partners Releases 2024 Global Destination Index
WTTC Forecasts 2024 Will Set Record for Business Travel Spending