U.S. Group Revenue Recovery in Q4 Hits 110 Percent According to Hospitality Group and Business Performance Index by Knowland and Amadeus

Group business up across key metrics in Q4 2023, providing stability for hotels going into 2024

Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index (the “Index”). The fourth quarter of 2023 demonstrated that group business in 10 of the top markets in the U.S. has recovered 110 percent compared to the same time in 2019. Group bookings are calculated using occupancy and average daily rate (ADR).

The Index combines event data from Knowland with hotel booking data from Amadeus’ Demand360+ to provide individual and aggregate views of the key drivers of hotel performance and is updated quarterly. Q4 data shows that the top 20 markets have reached 100 percent of 2019 and 10 of those have reached 110 percent or more, including:

1.     Las Vegas         144.1 percent

2.     Phoenix            123.9 percent

3.     San Diego         122.5 percent

4.     Tampa              121.3 percent

5.     Boston              120.3 percent

6.     Austin              116.6 percent

7.     Miami              115.4 percent

8.     San Antonio      112.0 percent

9.     Seattle              110.9 percent

10.  Los Angeles       110.0 percent

By using industry-leading data from the Knowland platform and trusted sales & catering solutions like Amadeus’ Delphi, hoteliers can develop precise, data-driven strategies to boost group sales and efficiently manage the entire process from lead to event execution.

Key insights from the Index are as follows:

  • Group business was up across key metrics – Q4 group business achieved a 110 percent health index by consuming 95.5 percent of the group rooms sold in 2019 and increasing the average rate by 14.8 percent. Overall growth in 2023 was 103 percent, with 92.5 percent of group rooms sold in 2019, increasing the average rate by 11.7 percent.
  • The volume of smaller groups provides stability – The meetings and event business recovered to 91.9 percent in Q4 as compared to [2019], with end-of-year recovery at 91.2 percent. Today, 70.0 percent of events have 200 attendees or less, and notably, smaller meetings of less than 25 attendees have experienced the most growth, with a 19 percent increase since 2019.
  • Corporate groups continue to drive meeting and event volume – The larger percentage of events in the corporate segment bodes well for business travel. In 2023, corporate segment events made up a larger share than in prior years.  In Q4 2023, 63.9 percent of event days were corporate.  For the full year of 2023, that was 58.4 percent compared to 2019 at 57.3 percent.
  • The negotiated rate index strengthened in Q4, exceeding all prior quarters in 2023 – The negotiated index achieved a 90.2 percent health index by consuming 84.0 percent of the negotiated rooms sold in 2019 and increasing the average rate by 7.3 percent.
  • Segments normalize across the board – The overall health index for Q4 is 94.5 percent, with Group, Negotiated, and Events stabilizing at 90.0 percent or more compared to 2019.

Go here to download the full report.

The aggregated index for 2023 end-of-year achieves 91.2 percent overall health compared to 2019 across all segments. Starting Q1 2024, the Index will shift to a year-over-year comparison. The Index helps hoteliers identify top drivers of group business and assess industry ‘health’. It offers filters for event market segments and booking industries, empowering hoteliers, DMOs, and CVBs to adapt strategies effectively.


The Hospitality Group & Business Performance Index uses a multi-factor weighting system that balances metrics such as group, corporate transient, and GDS room nights with average daily rate (ADR) performance. Growth or declines in ADR can offset room night performance. Each factor is averaged to provide a final index score, ensuring a more accurate overall performance assessment.



From reservations and sales and catering to property management and operations, Amadeus equips businesses of any size with the software tools needed to effortlessly delight guests, engage employees and boost revenue.