In terms of accommodation, the average room rate across the top 100 corporate cities stood at USD182, showing a slight decline of USD 5 compared to H1-2023. The global hotel occupancy rate, as per STR’s July 2024 report, is forecast to hit 70 per cent. The car hire sector has also seen changes, with the global average daily rate for H1-2024 at USD54, marking a notable 26 per cent decrease compared to 2023.