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September 2021 | In Europe, aggregate user forecasts show a flattening of the typically seasonal occupancy percent curve in the mid-50s from September to November with single-digit group occupancy sequentially eroding to just 5% in December. After a slight breather, YoY transient demand growth returns to triple digits to end the year on a strong note in November and December.
On the Books
The velocity of bookings across the EMEA region was up an astounding 311% month-over-month for stay dates in September and post impressive triple-digit gains for the remaining months in the year.
Cancellation activity is ticking up in December but remains -2% lower for the fourth quarter.
While booking pace has jumped exponentially, on-the-books (OTB) rooms are ahead of the prior year by more modest growth rates during the balance of the year and have started to turn negative towards the end of the year. Offsetting OTB rooms, OTB ADR is up a solid +12% YoY during Q4 2021.