Market Trends in the last month. 

Thanks to some of my good friends over at the Expedia Group we bring you the latest Market trends for February 2023 on the Edinburgh Market. This is based across all rooms and apartments in Edinburgh

• Edinburgh ADR has started to slow down in the last 7 days compared to the last 28 days. February has been slightly softer than expected and this has been showing in ADR* which is back 2% on 2022. Edinburgh Key Trends continue.
• Room night pace** until end May has softened slightly, however nothing to be too concerned about. June & August are both pacing 60% up on same time last year, with July closing the gap, we are now 6% back on 2022, at the beginning of February we were 13% back (The Open 22 effect)
• ADR for July is currently pacing 6% up on 22, August 14% up and September 20%. It was always going to be challenging to maintain ADR increases that we saw in 2022. Demand is strong for international travel which will help but we are not forecasting the same levels of increase in ADR this year, again 22.
• Last 28 days- 40 % of all bookings were booked +90 days BW.
• US bookings have overtaken Domestic as the biggest point of sale, accounting for 35% compared to domestic 33%.
• 34% bookings are being made on a non-refundable rate plan, continues to recover and a sign of more confidence in the market.
• Seen a really big increase in business since Beyonce got announce. YTD room nights against 2019 are -7.5%, however revenue against 2019 is pacing at +30%.

One other key take away is to look at getting bookings in your calander for November. With no November Rugby matches on due to the Rugby World Cup 2023 seeking to fill calander early is highly recommended.

Continue to tune in for Edinburgh Key Trends 2023 

*ADR – What is Average Daily Rate (ADR)? Average daily rate (ADR), one of the three key hotel performance indicators (along with occupancy and RevPAR), is the measure of the average paid for rooms sold in a given time period. The metric covers only revenue-generating guestrooms.

**Room night pace – Provides the booking pace by comparing figures with the previous year.