2023 YTD Room Revenue Gains: Spain, Thailand, and Italy Lead, with Singapore and the UAE Close Behind…
Global Hotel Alliance (GHA), based in the UAE and known as the world’s largest consortium of independent hotel brands, encompassing 800 hotels representing 40 brands in over 100 countries, is poised to achieve record-breaking results in 2023. The year-to-date (YTD) figures for room revenues, room nights, and total domestic and international stays consistently outperform their previous peak year, 2019.
The third-quarter results have played a significant role in GHA’s success in 2023. Hotel revenues for Q3 are up by an impressive 41 percent compared to Q3 2022, and Q3 room nights have surged by 31 percent year-on-year. The total revenue for 2023 YTD has reached $1.7 billion, marking a remarkable 101 percent increase from the previous year.
Moreover, the GHA DISCOVERY program has experienced substantial growth, with a 46 percent increase in enrollments during Q3 compared to Q3 2022. This boost in membership has propelled the program to exceed 25 million total members during this period.
GHA’s CEO, Chris Hartley, expressed his excitement about the outstanding performance in 2023. He attributed this success to solid summer demand across critical markets where their hotel brands are present, coupled with adding over 21 new properties from 14 different brands to the GHA portfolio since the beginning of the year. This expansion has made their loyalty program, GHA DISCOVERY, even more appealing, resulting in the impressive growth in its membership, surpassing the 25 million-member milestone.
In the ranking of room revenue for GHA, the UAE secures the fourth and fifth positions. Spain, Thailand, and Italy are the top three countries leading the 2023 year-to-date room revenue gains. Singapore and the UAE closely followed in fourth and fifth place, highlighting the robust portfolio and popularity of GHA hotel brand properties in these markets.
As well as Q3 also showcased a noteworthy 90 percent surge in D$ rewards currency redemptions compared to Q3 2022.
GHA DISCOVERY members can earn D$ at one hotel and utilize them at any property or brand within the alliance, resulting in a total cross-brand revenue of $79 million in Q3, marking a 55 percent increase from Q3 2022.
These results further build upon the $135 million in total cross-brand revenue generated in the first half of 2023, putting GHA on a trajectory to surpass its 2022 cross-brand total, which was already 25 percent higher than the 2019 figure. GHA’s current projections indicate a year-end target of $280 million.
GHA CEO Chris Hartley emphasized the value of the rewards currency, with D$1 being equivalent to $1, providing a flexible, transparent, and user-friendly system that benefits GHA DISCOVERY members and contributes significantly to the revenue of their hotel brands.
He anticipates a surge in redemptions as travel enthusiasts use their D$ for winter vacations, supplemented by additional spending, giving Q4 a significant boost and bringing a bustling close to the record-setting year 2023.