International Visitors Spent Nearly $20.1 Billion Traveling Within the United States in March
National Travel and Tourism Office (NTTO) | May 23, 2024
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Market Reports
Caribbean Hotel Industry a “Comeback Kid”
STR | February 6, 2023
Led by a robust leisure market, the Caribbean experienced strong hotel performance in 2022 as almost all travel restrictions were lifted after being a large hindrance for some countries throughout 2021. Full-year occupancy came in at 60.7%, which was up 36.7% year over year, and down just slightly from 2019 (-3.2%). The region’s lowest occupancy occurred in September (48.9%)—a typical calendar occurrence in the midst of Hurricane season—but peaked recently in December (66.1%) because of holiday travel. Among key countries in the region, Curacao (70.7%), Turks & Caicos (70.3%), and Puerto Rico (69%) ...
November 2022 Total International Travel Volume to and from the United States
National Travel and Tourism Office (NTTO) | February 6, 2023
Data recently released by the National Travel and Tourism Office (NTTO) show that in November 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 4,601,142 increased 61.3% compared to November 2021. November 2022 visitation represented 75.5% of the pre-COVID visitor volume reported for November 2019, down from the prior month’s 76.8%. Overseas visitor volume to the United States of 1,941,001 increased 54.9% from November 2021. November 2022 was the 20th consecutive month that total non-U.S. resident international arrivals to the United States increased...
West Palm Beach Among Priciest Destinations in Florida, Survey Reveals
Cheaphotels.org | February 3, 2023
MIAMI, Feb. 3, 2023 -- West Palm Beach is the third most expensive destination in Florida for hotel stays, according to a new survey by CheapHotels.org. The survey compared hotel rates across 30 popular Florida destinations for the period February-March 2023 – typically the high season for most destinations in the Sunshine State. In West Palm Beach, travelers will have to spend an average of $425 per night for the most affordable double room. Only hotels located close to the beach (or in downtown) and rated at least 3 stars were considered for the survey. Only Sarasota and Marco Island, the latter a barrier island located...
STR: U.S. Hotel Results for Week Ending 28 January
STR | February 2, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 28 January. 22-28 January 2023 (percentage change from comparable week in 2019*): Occupancy: 56.3% (-0.3%) Average daily rate (ADR): US$142.66 (+13.4%) Revenue per available room (RevPAR): US$80.32 (+13.0%) Among the Top 25 Markets, Dallas reported the highest occupancy increase over 2019 (+10.3% to 69.8%). Tampa saw the largest increases in both ADR (+32.5% to US$179.72) and RevPAR (+37.0% to US$137.70). The steepest RevPAR declines from 2019 were seen in Atlanta (-34.5% to US$91.86) and ...
Recent Trends in Washington, D.C.’s Luxury Hotel Market
Caroline Dioso | February 2, 2023
By Caroline Dioso, Chelsey Leffet Historical Luxury Market Performance According to data compiled by STR, in recent years, the luxury segment has fallen 2–5% behind the Washington, D.C. market average in occupancy, while luxury rates have paced roughly $150 to $200 above average. This rate difference is largely due to a few luxury hotels that perform at a higher rate threshold than the remainder of the luxury class, including the Four Seasons, the Waldorf Astoria, both Ritz-Carlton properties, the Hay Adams, and the St. Regis. These higher-rated hotels make up 15% of the total luxury room supply in the District. The 2022 mar...
Restrictions, Lack of Inbound Travel Have Limited Southeast Asia’s Hotel Performance
STR | February 1, 2023
Southeast Asia sits at the lower end of recovery compared to other STR-defined subcontinents, exceeding only the gains of Northeastern Asia in terms of occupancy and average daily rate (ADR) in 2022. This was due to strict and long-lasting COVID mitigation strategies and the region’s reliance on international travel, particularly from China, which has been slower to resume international flight capacity. According to OAG data, Southeast Asia was still missing 35% of flight seat capacity during the last week of January 2023 (compared to the same week in 2019). While that was better than the 50% gap of six months prior, it shows ...
Indian Hotel Sector – 2022 Performance Review
Akash Datta | January 31, 2023
By Akash Datta, Dipti Mohan The strong recovery in 2022 brought much relief to a sector devastated by COVID-19. The quick retraction of onerous COVID-19 policies, released the much pent-up demand in the market, making it the single biggest reason for a strong recovery. While occupancy remained slightly 5-7 percentage points (pp) lower than the full year 2019, in large part due to the much lower-than-expected Q1 2022, ARRs for 2022 recovered fully, crossing 2019 levels by almost 1-3%, in large part due to strong ARRs in Q4 2022. Similar to 2021, domestic travel was responsible for the strong recovery in demand. Buoyed by segments such as we...
The Magic Returns to the “Happiest Place on Earth”
Eileen Bosworth | January 30, 2023
By Eileen Bosworth, Kirsten Z. Smiley When Disneyland Resort, Anaheim’s crown jewel, was forced to close in 2020 at the onset of the COVID-19 pandemic, area hotels faced some of the greatest demand losses in the nation. The park system welcomed back its local fanbase in 2021 with the introduction of a new reservation system. Once Disney attendees were more familiar with the park’s new reservation system, which requires advance planning and makes it more difficult to book same-day tickets, leisure demand rebounded, spurring double-digit ADR growth in 2021 and 2022. However, the Anaheim-Santa Ana hotel market has not caught up to pre...
Almost Half of Global Hotel Markets Recovered RevPAR With Challenging 2023 Ahead
STR | January 26, 2023
STR’s global bubble chart update for 2022 shows resilient performance and plenty of momentum to face a challenging 2023 ahead. Almost half of the STR-defined markets around the world fully recovered revenue per available room (RevPAR) to 2019 levels. Among the 64 countries with room supply of more than 50,000 rooms, Jamaica, Israel, Cyprus, Switzerland, and Singapore were the top five performers on an absolute RevPAR basis in 2022. In most regions, performance was driven more by hotel prices while occupancy lagged pre-pandemic levels. Israel led all countries with an average daily rate (ADR) of more than US$300. On the downs...
STR: U.S. Hotel Results for Week Ending 21 January
STR | January 26, 2023
HENDERSONVILLE, Tennessee—With the Martin Luther King Jr. holiday, U.S. hotel performance came in slightly lower than the previous week, according to STR‘s latest data through 21 January. 15-21 January 2023 (percentage change from comparable week in 2019*): Occupancy: 54.2% (-6.2%) Average daily rate (ADR): US$140.16 (+11.3%) Revenue per available room (RevPAR): US$75.97 (+4.4%) Among the Top 25 Markets, Tampa reported the highest increase over 2019 in each of the three key performance metrics: occupancy (+6.8% to 78.8%), ADR (+31.9% to US$174.78) and RevPAR (+41.0% to US$137.76). None of the other Top 25 Markets sa...
Do Sports Entertainment Districts Make a Difference?
Anthony Davis | January 26, 2023
By Anthony Davis HVS analysis found that while venues with districts do have more amenities, the difference is not statistically significant. When broken out by sport, MLB and NFL venues with districts had more entertainment amenities, however the differences were still not significant. Demand for these districts, estimated by tracking what attendees do before and after events, shows that the percentage of attendees who use entertainment amenities is not significantly different between venues with districts and without. Instead, these districts import existing demand from other locations in the city and concentrates them around the venu...
Marriott, Hilton, and IHG Close Q4 2022 With Largest Projects Counts in Every Stage of the U.S. Construction Pipeline
Lodging Econometrics (LE) | January 26, 2023
January 26, 2023 – PORTSMOUTH, NH As reported in the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE) for 2022, the franchise companies with the largest construction pipelines at the end of Q4 are led by Marriott International (Marriott) with 1,490 projects/180,113 rooms. Following Marriott is Hilton Worldwide (Hilton) with 1,378 projects/154,790 rooms and InterContinental Hotels Group (IHG) with 789 projects/78,951 rooms. Combined, these three companies account for 67% of the projects and 64% of the rooms in the total pipeline. At the close of the quarter, these top franchise companies also ...
STR: Most Global Regions Showed Full RevPAR Recovery in 2022
STR | January 25, 2023
LONDON—Among the global regions, Asia saw the only decline in revenue per available room (RevPAR) from 2019, according to 2022 data from STR. “While most global regions were impacted by omicron in early 2022, top-line performance recovery made big waves in the latter half of the year,” said Robin Rossmann, STR’s managing director. “The industry’s resilience has been underpinned by significant pent-up leisure travel over the summer along with the return of corporate demand, as the nature and length of this business travel has evolved. Unlike previous downturns, room rates have been the key driver of recovery as each of the glob...
Q4 2022 Meeting Volume Outperforms Knowland Meeting Recovery Forecast by 8.4 Percent
Knowland | January 25, 2023
2023 forecasted to achieve 10 percent organic growth compared to 2019 ARLINGTON, Va. — Jan. 25, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released the quarterly update to its U.S. Meetings Recovery Forecast (MRF) and associated Top 25 U.S. Meetings Recovery Forecast (MRF25) realizing strong performance ending 2022 on a high note and shifting 2023 higher than the Q3 forecast. Click here to view the most current forecasts. Kristi White, chief product officer, Knowland, said: “The fourth quarter outperformed the Knowland forecast by 8.4 percent, driven by ...
STR, TE Make Modest Upgrade to First U.S. Hotel Forecast of 2023
STR | January 24, 2023
LOS ANGELES—STR and Tourism Economics made a modest upgrade to the 2023 U.S. hotel forecast just released at the Americas Lodging Investment Summit (ALIS). Additionally, a subsequent downward adjustment was made for 2024. The occupancy projection for this year was lower than the previous forecast by 0.1% while projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 0.5% and 0.3%, respectively. For 2024, a 0.3% downgrade in occupancy coupled with a 0.1% lift in ADR meant a RevPAR downgrade of 0.4%. RevPAR, the key top-line performance metric, was fully recovered in 2022 on a nominal basis but w...
STR: Canada Hotels Achieved Record-High ADR and RevPAR in 2022
STR | January 24, 2023
HENDERSONVILLE, Tennessee—Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were the highest for any year on record, according to STR’s 2022 data. 2022 (percentage change from 2019) Occupancy: 61.1% (-6.0%) Average daily rate (ADR): CAD181.73 (+10.0%) Revenue per available room (RevPAR): CAD111.06 (+3.5%) In December specifically, Canada followed its typical seasonal trend with slightly lower occupancy and RevPAR performance than November, but improved comparisons to 2019: occupancy (+8.4% to 53.3%), ADR (+16.0% to CAD178.15) and RevPAR (+25.7% to CAD95.00). During the month, hoteliers ...
STR Weekly Insights: 8-14 January 2023
STR | January 23, 2023
In the first business week of 2023, U.S. hotel occupancy rose to 54.8%, up 6.3 percentage points (ppts) year over year (YoY) and favorable to the comparable week in 2019. Over the first 14 days of 2023, occupancy (51%) was higher than the same 14 days in 2019 (50.3%). Weekday (Monday-Wednesday) occupancy was slightly better (55%) than the weekly total with the Top 25 Markets seeing 60.4% weekday occupancy. Several large markets reported strong weekday occupancy, led by San Francisco (80.9%), which posted its fifth highest level since the start of the pandemic thanks to the J.P. Morgan Healthcare Conference. A handful of Top 25 Marke...
HVS Outlook 2023: Beyond the Recovery
Anne R. Lloyd-Jones | January 23, 2023
By Anne R. Lloyd-Jones, McKenna Luke Despite persistent high inflation, an active Fed, and accelerating recessionary concerns, the lodging industry sustained the strong growth recorded in Q2 and Q3 of 2022 through the balance of the year. Transient demand continued to lead the recovery, surpassing 2019 levels in 19 of the past 21 months. The leisure segment remains a dominant influence, with business demand returning at a slower pace, although increasing levels of “bleisure” demand are blurring the distinction between these two sectors. Group demand rebounded to roughly 80% of 2019 levels; after the initial return of small to medium-si...
STR: U.S. Hotel ADR and RevPAR Reached Record Highs in 2022
STR | January 20, 2023
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported average daily rate (ADR) and revenue per available room (RevPAR) that were the highest for any year on record, according to 2022 data from STR. 2022 (percentage change from 2019): Occupancy: 62.7% (-4.9%) Average daily rate (ADR): US$148.83 (+13.6%) Revenue per available room (RevPAR): US$93.27 (+8.1%) Despite climbing back above the 60% mark, the country’s occupancy level remained below the pre-pandemic comparable. Among the Top 25 Markets, Oahu Island reported the highest occupancy level (75.4%), which was still down 10.5% from the market’s 2019 benchmar...
Southwestern Utah is Booming, Attracting National Investor Interest
Lauren Reynolds | January 20, 2023
By Lauren Reynolds Southwestern Utah provides robust outdoor recreation opportunities, with some of the most dramatic landscapes in the world. Washington and Kane counties, located in Southwest Utah, have experienced robust economic growth since the onset of the COVID-19 pandemic in 2020 given the presence of two national parks—Zion National Park and Bryce Canyon National Park—in addition to several well-known state parks, such as Sand Hollow State Park and Coral Pink Sand Dunes State Park. The popularity of outdoor recreation areas soared during the pandemic, and the region benefited from this trend. In addition to leisure tra...
Hotel Pipeline Activity Down Around the World, Except in Middle East & Africa
STR | January 20, 2023
LONDON—Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the fourth quarter, according to December 2022 data from STR. December 2022 (% changes in comparison with December 2021) Europe In Construction: 189,698 rooms (-14.5%) Final Planning: 140,663 rooms (-14.1%) Planning: 153,587 rooms (-3.6%) Total Under Contract: 483,948 (-11.2%) Germany (36,162) and the U.K. (28,426) lead Europe in total rooms in construction. Asia Pacific In Construction: 476,942 rooms (+0.6%) Final Planning: 108,955 rooms (-36.0%) Planning: 305,339 rooms (+2.6%)...
STR: U.S. Hotel Performance for December 2022
STR | January 20, 2023
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported lower performance from the month prior but improved comparisons with 2019, according to December 2022 data from STR. December 2022 (percentage change from December 2019): Occupancy: 53.6% (-0.8%) Average daily rate (ADR): US$146.72 (+15.8%) Revenue per available room (RevPAR): US$78.63 (+14.8%) Among the Top 25 Markets, New York City experienced the highest occupancy level (82.8%), which was down 6.0% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included Minneapolis (43.8%) and St. Louis (47.6%). San Francisco re...
Third-Party Hotel Operators Set to Grow Across Europe, Says HVS
HVS | January 19, 2023
19 January 2023, London: The number of hotel owners using third-party operators to run their properties looks set to increase across Europe, reflecting the desire for flexibility as well as a number of other benefits, according to a new report from global hotel consultancy HVS. The trend for third party operators (TPOs) has emerged from the US where the concept has become commonplace, with most franchised hotels from midscale upwards now being run by TPOs. These operators are not affiliated with the owner or the franchise brand and as such can be more aligned with owner objectives, often driving higher profits as a result. Examples of TPO...
STR: U.S. Hotel Construction Up Year Over Year for First Time Since Late 2020
STR | January 18, 2023
HENDERSONVILLE, Tennessee—After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR. At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement. U.S. Hotel Pipeline December 2022 (percentage change in comparison with December 2021): In Construction: 159,344 rooms (+0.3%) Final Planning: 213,066 rooms (+15.0%) Planning: 240,092 rooms (-15.6%) “While the overall pipeline ...
