Leading Hotels of the World seeing ‘extraordinary growth’

Data revealed in Leading Hotels of the World’s (LHW) autumn Luxe Report shows that for the year-to-date the international hotel collection is currently tracking revenue 105% above 2021, and has outpaced 2019 levels each week from February 2022 onwards. Its consumed and on-the-books business for the year is up 14% over 2019. 

President and chief executive Shannon Knapp said the figures were “evidence of extraordinary growth within the travel and hospitality industry”. She added: “Pent-up demand for travel, coupled with the removal of travel restrictions, has resulted in the strong performance and an even better on-the-books outlook for the rest of 2022.” 

LHW’s suite and villa bookings for 2022 are 36% above 2019 levels, and its average daily rate is currently 40% above 2019. Knapp said: “The desire for more space and privacy brought on by the pandemic remains a persistent trend in 2022. Even with inflation and recession forecasts looming, occupancy and room rates are on the rise.”  

Knapp said properties in metropolitan destinations account for half of LHW’s member hotels, and said they “were disproportionately affected by the pandemic”. However they are now generating renewed interest and have seen a 100% increase in revenue in 2022 compared to 2021.