U.S. Group Business Delivers Higher Q1 Performance Year-Over-Year According to Hospitality Group and Business Performance Index by Knowland and Amadeus
U.S. Group Business Delivers Higher Q1 Performance Year-Over-Year According to Hospitality Group and Business Performance Index by Knowland and Amadeus
Knowland, a world leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a leading technology provider for the travel industry, today present the metrics from the companies’ Hospitality Group and Business Performance Index (the “Index”). Beginning with the first quarter of 2024, the Index now focuses on year-over-year (YOY) performance. This first report shows the group health index is 102.3 percent YOY and six of the top 25 U.S. markets have achieved 110 percent compared to the same time in 2023.
1. Las Vegas 121 percent
2. Boston 121 percent
3. Seattle 119 percent
4. Houston 114 percent
5. New York City 110 percent
6. Minneapolis 110 percent
The Index combines event data from Knowland with hotel booking data from Amadeus’ Demand360+® business intelligence solution to provide aggregate views of the key drivers of hotel performance. The aggregated index reflects performance for all segments – Group, Corporate Negotiated, GDS, and Events – and shows Q1 2024 achieved 99.9 percent overall health compared to 2023.
Additionally, Q1 data shows that more than 52 percent of the top 25 U.S. markets have exceeded 100 percent of 2023, including:
1. Seattle 115.1 percent
2. Houston 107.5 percent
3. New York City 106.9 percent
4. Boston 106.1 percent
5. San Francisco 105.8 percent
6. Las Vegas 105.8 percent
7. Washington, DC 104.6 percent
8. Detroit 104.0 percent
9. Miami 102.4 percent
10. New Orleans 101.8 percent
11. Chicago 101.4 percent
12. Nashville 101.3 percent
13. Tampa 101.0 percent
By using industry-leading data from the Knowland platform and trusted Sales & Catering solutions like Amadeus' Delphi®, hoteliers can develop precise, data-driven strategies to boost group sales and efficiently manage the entire process from lead to event execution.
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Key insights from the Index are as follows:
• Group continues to be the top-performing revenue segment achieving 102.3 percent overall health index with room nights at 99.1 percent of last year while ADR increased 3.2 percent.
• Negotiated and GDS performance rally to 2023 levels. Negotiated achieved a 97 percent overall health index. Room night production was 93.6 percent of Q1 2023 while ADR increased by 3.6 percent. GDS achieved a healthy 100 percent overall health index with room night production at 98.2 percent of last year and ADR increasing 1.8 percent.
• Event volume showed strong performance with meetings getting bigger. Meetings continue to provide stability for hotels after the 2023 boom year. Average attendees were up 25 percent, from 116 to 145 estimated number of guests, and the average space used was up 31.1 percent, from 3,037 to 3,981 sq. ft.
• The stabilization of business segments is evident. The comprehensive health index has demonstrated improvement, rising from 94.5 percent in Q4 2023 to 99.9 percent in Q1 2024, indicating inherent stability and robustness across all sectors as organic growth gains prominence.
Go here to download the full report.
The Index helps hoteliers identify top drivers of group business and assess industry ‘health.’ It offers filters for event market segments and booking industries, empowering hoteliers, DMOs, and CVBs to adapt strategies effectively.
Amadeus powers more personalized and authentic travel experiences. Our solutions are designed to enrich every stage of the traveler journey and help hospitality providers acquire, service, and retain guests by profitably driving demand and converting them into loyal fans. Backed by over 30 years of experience, we design open, cutting-edge software to provide the most efficient, trusted, and reliable systems for our customers. With experts in 175+ countries, we have a deep understanding of the hospitality industry and a desire to enable our hotel partners to create memorable guest experiences.
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