STR Weekly Insights: 2-8 March 2025

It was a mostly flat first full week of March for U.S. hotels with revenue per available room (RevPAR) up a modest 0.6%, the result of a 2.1% increase in average daily rate (ADR) being offset by an occupancy decline of 0.9 percentage points (ppts). The week started strong with RevPAR growth above 3% year over year on Sunday through Tuesday. Then began the decline, which worsened each day into Saturday (-4%). Strong ADR gains lifted the start of the week and falling occupancy deflated the end.

Beyond BAR: the power of Open Pricing

Best available rate (BAR) was the most commonly adopted strategy for pricing hotel rooms back in the 90s, but as the hospitality industry has evolved and become a sophisticated digital ecosystem of OTAs, own brand channels, and systems, a new pricing model was needed.

The Luxury Collection Enhances the Future of Culinary Sustainability through Global Partnership with MAD Academy

The Luxury Collection, part of Marriott Bonvoy’s portfolio of over 30 extraordinary hotel brands, today announces a new brand partnership with MAD Academy, the trailblazing nonprofit organization founded by chef René Redzepi, recipient of three MICHELIN Stars, with a focus on transforming food systems through the people who work in food and hospitality across the globe. With more than 120 hotels and resorts across over 40 countries and territories, The Luxury Collection boasts a diverse global portfolio that connects guests to the distinctive wonders of their destination. Through its immersive collaboration with MAD Academy, The Luxury Collection aims to create a scalable framework to amplify its culinary sustainability initiatives and cultivate environmentally conscious operational systems across its expansive global footprint.

The Luxury Collection Introduces an Icon Reimagined: The Palace, A Luxury Collection Hotel, Madrid

The Luxury Collection, part of Marriott Bonvoy’s portfolio of over 30 extraordinary hotel brands, today announces the debut of The Palace, a Luxury Collection Hotel, Madrid into its prestigious global portfolio, following an extensive two-year restoration and refurbishment. Formerly The Westin Palace, Madrid, the hotel has a charming new identity that seamlessly blends rich historical heritage with innovative design, unparalleled luxury, and impeccable service.

Cvent and Venue Directory MICE Sourcing Volume Sets New Records in 2024

Cvent announced that MICE sourcing volume through its online channels set new record highs in 2024, surpassing pre-pandemic numbers for the first time. Last year, $16.5 billion (£13.1 billion) of MICE business volume was sourced through the Cvent Supplier Network, one of the world’s largest MICE hotel and venue sourcing marketplaces. $577 million (£456.5 million) in confirmed bookings revenue came via Cvent-owned Venue Directory, a leading platform for sourcing and booking MICE business in the UK and across Europe, exceeding previous pre-pandemic records by 75%.