UAE among top five countries with highest room revenue in 2023: Global Hotel Alliance
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Based in the United Arab Emirates Global Hotel Alliance (GHA)The world’s largest alliance of independent hotel brands, with 800 hotels from 40 brands in 100 countries, is on track for a record year, with room revenue, room nights and total domestic and international stays in 2023. year to date (YTD) all consistently higher than their previous best year, 2019.
Third-quarter results are proving to be a major contributor to GHA’s earnings in 2023, with hotel revenue up 41 percent from Q3 2022 and room nights up 31 percent year-over-year for the third quarter, he said in a statement.
Total revenue in 2023 to date has reached $1.7 billion, up 101 percent from 2022 to date.
with new GHA DISCOVERY Enrollments increased 46 percent in the third quarter compared to the third quarter of 2022, the rewards program reached a major milestone, with total membership surpassing the 25 million mark during the period.
“It has been an extraordinary year for GHA, with all key performance indicators peaking in the third quarter, driven by incredible summer demand in all key markets where our hotel brands operate.”
saying Chris Hartley, CEO of GHA.
“This unbridled appetite for travel, combined with more than 21 new properties from 14 brands joining GHA since the beginning of the year, has made our loyalty program even more attractive, spurring enormous growth in GHA DISCOVERY membership to reach more than 25 million”.
he added.
The UAE ranks fourth and fifth in terms of room revenue for GHA
The top three countries driving room revenue growth in 2023 to date are Spain, Thailand and Italy, with Singapore and the United Arab Emirates in fourth and fifth place, reflecting the strength of the portfolio and popularity of GHA hotel brand properties in these markets.
GHA D$ Rewards
percent
Highlights for the third quarter also included a significant 90 percent increase in D$ rewards currency redemptions compared to the third quarter of 2022.
With GHA DISCOVERY members allowed to earn D$ at a hotel and redeem at any alliance property or brand, total cross-brand revenue reached $79 million in the third quarter, an increase of 55 percent compared to the third quarter of 2022 .
This adds to the $135 million in total cross-brand revenue generated in the first half of 2023, with GHA on track to surpass its 2022 cross-brand total, which was already 25 percent ahead of the 2019 figure. Currently, GHA expects to reach $280 million by the end of the year.
“Because $1 is $1, our rewards currency, which is flexible, transparent and easy to understand and use, puts more money in the pockets of GHA DISCOVERY members and generates significant incremental revenue for our hotel brands.”
saying Hartley.
“We anticipate further peaks in redemptions before the end of the year, as travel-hungry members use their D$ for winter holidays, supplementing them with incremental spending to give a boost to the fourth quarter, bringing a record 2023 to a busy conclusion”.
News source: Gulf Business
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