29 January 2024

Mews report reveals huge hotel earnings from meeting and parking spaces

One in five properties diversified revenue by monetizing spaces beyond a single space type, while other key hospitality metrics showed steady improvement. 

[Amsterdam, 29th January 2024]Mews, the industry-leading hospitality cloud, today released the Mews Data Dive, a real-time measure of hospitality’s performance in 2023.  

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Based on data from more than 4,000 properties in 85 countries, the Mews Data Dive unpacks hospitality’s performance across 12 key areas – including occupancy, ADR, RevPAR, staff turnover, online check-in and upsells, direct bookings, booking lead times, rate types and additional bookable services – to pinpoint how the hospitality sector is changing.  

“With rising inflation across the world, it’s not surprising that the average daily rate has risen, but it didn’t deter reservations in 2023. The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers,” said Matt Welle, Mews CEO. 

He added, “Hoteliers are becoming more creative with the amenities and spaces they offer their guests, and in the last year alone we’ve seen a significant increase in properties selling additional bookable services. While parking spots and meeting rooms have played a huge role in this, 2024 will be the year that more hoteliers revolutionize revenue management. We are beginning to see more hotels capitalizing on all available assets and offering additional spaces, from co-working desks to karaoke booths, providing remarkable guest experiences across the board.” 

The report reveals that one in five properties now sell bookable services beyond a single space type, up 50% on 2022. Each parking spot earned an average of €6,500 revenue per year, double the amount in 2022, while selling meeting space generated an average of €28,000 in additional revenue for the year. 

In more traditional industry metrics like occupancy and RevPAR, the Data Dive shows steady annual gains, reflecting strong hotel performance as traveler confidence continues to return. 

To unpack more of hospitality’s performance and key trends, download the Mews Data Dive