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Local corporate demand and the cost of property acquisition are the most important criteria for operators when selecting a new location . In 2023 , whilst local corporate demand was ranked most important , competitor presence was ranked second , equal alongside cost of property acquisition .
Looking to the future , operators are most optimistic for the next twelve months in relation to average length of stay (# 1 ); average daily rate (# 2 ) with occupancy ranked third .
Fig . 20 Operators ’ reasons to be cheerful 2024