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
2022 BDNY Conference Location Spotlight: New York City Hotel Development
Lodging Econometrics (LE) | November 10, 2022
November 10, 2022 – PORTSMOUTH, NH As Lodging Econometrics (LE) prepares to attend the 2022 Boutique Design New York (BDNY) conference in New York City, LE releases the latest on hotel development for the New York City market. LE also has available hotel development information on any market in the United States or any other market in the world. At the close of the third quarter of 2022, LE analysts report that the New York City market has a total of 102 projects/17,805 rooms in the construction pipeline, the fourth largest pipeline by rooms of any market in the U.S. (behind the Dallas market, with 174 projects/20,676 rooms, the Los Ang...
Q3 2022 Major U.S. Hotel Sales Survey
Daniel Lesser | November 9, 2022
By Daniel Lesser Economists, politicians, and business leaders are split on whether the U.S. economy is heading for a recession, is already in one, or will merely experience a slowdown. With continued supply chain disruptions, geopolitical conflicts (most notably the war in Ukraine), and the Fed’s determination to continue increasing the federal funds interest rate, there is tremendous uncertainty around inflation and where the economy is heading. Mixed signals abound, however U.S. gross domestic product (GDP) increased for the first time this year in the third quarter, expanding at a higher-than-expected 2.6 percent annually. Unemployme...
U.S. Meetings and Events Eclipse 80 Percent Recovery for Fifth Month in a Row, Knowland Reports
Knowland | November 9, 2022
Knowland will be participating in a webinar hosted by Amadeus Hospitality on the Future of Meetings and Events on November 16 at 1PM ET. Hoteliers can go here to register for the webinar. October 2022 reaches 89.7 percent of 2019 event volume ARLINGTON, Va. — Nov. 9, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its U.S. monthly meetings and events data for October, reporting 131.7 percent growth over October 2021. Additionally, October 2022 grew by 21.2 percent over September 2022. Kristi White, chief product officer, Knowland, said: “Octobe...
Canadian Lodging Outlook Quarterly 2022-Q3
HVS | November 8, 2022
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further Information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504. HVS Canada performs major portfolio appraisals and single-asset consulting assignments and valuations from coast to coast. Our professional team is expert ...
International Visitors Spent $14.7 Billion in September 2022
International Trade Administration | November 7, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in September 2022: International visitors spent nearly $14.7 billion on travel to, and tourism-related activities within, the United States, an increase of more than 110 percent compared to September 2021. Americans spent $15.5 billion traveling abroad, yielding a balance of trade deficit of $802 million for the month—the third monthly balance of trade deficit for U.S. travel and tourism year to date in 2022. Year to date (January through September 2022), international visitors have spent more than $112.1 billion on U.S. travel and tourism-related...
Global Real Estate Perspective November 2022: Lodging Fundamentals Strengthen
JLL | November 3, 2022
The lodging industry’s recovery continued to accelerate in the first nine months of 2022, despite increasing global economic uncertainty and deep labor shortages across travel and tourism companies. Year-over-year, hotel occupancy and average daily rate (ADR) across all regions showed growth supported by strong domestic and emerging international travel demand. Urban markets are experiencing greater momentum in their recovery as more employees return to the office, and leisure travelers are once again drawn to restaurants and live entertainment venues. Across the Americas, Miami, San Juan, New York, Los Angeles and Boston achieved the hi...
STR: U.S. Hotel Results for Week Ending 29 October
STR | November 3, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance came in lower than the previous week but showed improved comparisons to 2019, according to STR‘s latest data through 29 October. 23-29 October 2022 (percentage change from comparable week in 2019*): Occupancy: 65.8% (+5.2%) Average daily rate (ADR): US$152.94 (+21.4%) Revenue per available room (RevPAR): US$100.59 (+27.8%) The occupancy increase from 2019 reflected the positive side of the Halloween calendar shift, as the holiday fell during the comparable week in 2019. The next week of data to be processed (30 October-5 November) will show the negative side of that shift....
ITA Data Release: August 2022 Total International Travel Volume
International Trade Administration | November 3, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in August 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 5,697,087 increased 158.6% compared to August 2021 and rose to 70.2% of the pre-COVID total visitor volume reported for August 2019, up from the prior month’s 67.6%. Overseas visitor volume to the United States of 2,625,678 increased 172.6% from August 2021. August 2022 was the seventeenth consecutive month that total non-U.S. resident international arrivals to the United States increased on a year-over-year (Y...
New Delhi Hotels Lead Profitability Recovery in Asia Pacific
STR | November 2, 2022
LONDON—Four key Asia Pacific hotel markets, led by New Delhi, surpassed their pre-pandemic levels in gross operating profit per available room (GOPPAR), according to STR’s September 2022 P&L data release. New Delhi’s September GOPPAR came in at US$54.58, which was 124% of the comparable 2019 level. In August, the market reported a GOPPAR level of US$45.55, which was 176% of the pre-pandemic comparable. Singapore (107%), Kuala Lumpur (104%) and Sydney (104%) were the other key markets in the region that achieved a GOPPAR level higher than the 2019 comparable. Of note, Tokyo registered the largest month-over-mont...
U.S. Hotel Profitability Improved in September; Labor Costs Exceed 2019
STR | November 1, 2022
HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) improved from the month prior and exceeded the pre-pandemic comparable, according to STR’s September 2022 P&L data release. Additionally, the cost of labor per available room came in higher than the pre-pandemic comparable for the first time. GOPPAR: US$84.03 TRevPAR: US$222.97 EBITDA PAR: US$60.71 LPAR (Labor Costs): US$71.52 “Labor costs moved ahead the 2019 comparable due to continued high levels of hospitality unemployment and more spending on contract labor,” said Raquel Ortiz, STR’s director of financial ...
In Focus: Cortina d’Ampezzo, Italy
Lorenzo Gullotta | November 1, 2022
By Lorenzo Gullotta, Pavlos Papadimitriou, Ezio Poinelli The municipality of Cortina d’Ampezzo, also referred to as only “Cortina”, is part of the Province of Belluno, in the Veneto region, in northern Italy. The town is located in the southern Dolomitic Alps, in the centre of the Ampezzo valley, on the Boite River. With 5,649 inhabitants, Cortina d'Ampezzo is the eight most populous municipality of the province of Belluno. It is a renown winter and summer holiday destination, especially popular for skiing, with 120 kilometres of slopes and 38 lifts. Nicknamed “The Pearl of the Dolomites”, the town is prominent for its picturesq...
Hotel Performance Pushes Back to Seasonal Patterns
HotStats | October 31, 2022
As the global pandemic appears further in the rearview mirror, hotel performance is driving back to more recognizable, dependable and stable movements on the top and bottom line. Consider, first, Europe. There, gross operating performance in September 2022 was up 39% over August 2022. In comparison, GOPPAR in September 2019 increased 34% versus August 2019. Meanwhile, total revenue per available room (TRevPAR), grew 20% in September 2022 versus August 2022 and 18% in September 2019 versus to August 2019. It’s getting clearer that hotel performance is becoming more dependable and based on seasonality rather than other market variables,...
Global Hotel Demand Recovery Reached a Pandemic-Era High in September
STR | October 31, 2022
Global hotel hotel demand continues to strengthen, and the recovery index for the metric hit a pandemic-era high at the end of the third quarter of 2022. Among comparable, reporting hotels—those properties reporting data for the 2019 and 2022 year-to-date periods—September demand was just 6% shy of pre-pandemic levels. September was the fifth consecutive month with global demand recovery at a relatively stable point, at slightly more than 90% of pre-pandemic levels. That means recovery hasn’t ramped up significantly since earlier this year, however, that isn’t necessarily a bad sign. Recall that for most of this COVID-era, leisur...
STR: U.S. Hotel Results for Week Ending 22 October
STR | October 27, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance decreased slightly from the previous week but showed improved comparisons with 2019, according to STR‘s latest data through 22 October. 16-22 October 2022 (percentage change from comparable week in 2019*): • Occupancy: 69.9% (-0.5%) • Average daily rate (ADR): US$157.43 (+16.7%) • Revenue per available room (RevPAR): US$110.11 (+16.1%) Among the Top 25 Markets, Tampa reported the largest increases over 2019 in occupancy (+7.4% to 75.9%) and RevPAR (+39.2% to US$117.28). Tampa has been one of the markets in Florida that have seen a performance lift as...
Qatar Hotel Bookings Rising Ahead of the FIFA World Cup
STR | October 26, 2022
Across the months of November and December 2022, Qatar will welcome football fans from across the globe as the first Arab nation to host the FIFA World Cup. With the first match kicking off on 20 November, hotel bookings in the country have ramped up since rooms were released to the public earlier this month. Over the coming months, STR will deliver a series of articles to analyze hotel booking trends for the “mega event” as well as examine historical data as it actualizes—not only in Qatar but surrounding destinations before and after the event. One key difference in this edition of the World Cup is the requirement of ...
2022 HVS Lodging Tax Report – USA
Thomas Hazinski | October 26, 2022
By Thomas A. Hazinski , Peter J. Gonzalez While the lodging industry is recovering from impacts of the COVID-19 pandemic, this twelfth annual HVS Lodging Tax Study quantifies the revenue impact of the pandemic over the past year. An analysis of 25 major US hotel markets shows that overall revenues have recovered to 2019 levels, but markets with high levels of leisure demand are faring better than those without. The lag in collections of lodging taxes will prolong the impact of the pandemic state and local government collection of the taxes. The report also provides historical data on tax rates and the collection and distribution of revenue f...
NYC Extends Lead Among the Major Markets, Autumn Destinations Have Been Popular as Well
STR | October 25, 2022
STR’s U.S. “bubble” chart update for mid-October 2022 highlights the best and worst performing hotel markets in terms of occupancy, the average percentage of rooms being filled. Data for the four weeks ending 15 October shows that New York City widened its performance lead over the other large markets and that leisure travelers flocked to autumn destinations as well as resorts far removed from the path of the hurricane. Among the Top 25 Markets, New York City had the highest occupancy at 84.7%. Boston (81.6%) was second, while Anaheim (80.7%), Nashville (79.3%) and San Diego (79.1%) rounded out the top five. Nashville saw a...
STR: Canada Hotel Performance Surpassed Pre-Pandemic Levels in September
STR | October 25, 2022
HENDERSONVILLE, Tennessee—Canada’s hotel performance was seasonally lower from the month prior but higher than the pre-pandemic comparable, according to STR’s September 2022 data. September 2022 (percentage change from September 2019) Occupancy: 74.3% (+1.0%) Average daily rate (ADR): CAD205.17 (+14.3%) Revenue per available room (RevPAR): CAD152.49 (+15.5%) "Performance levels were expectedly lower than August, but the recovery index to 2019 was back on track in September," said Laura Baxter, CoStar Group's director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “Room rates con...
Holiday Season Looks Strong for America’s Hotels
Duetto | October 25, 2022
Pulse Report data shows hotel bookings for Thanksgiving, Christmas, and New Year stay dates are showing favorable results in key cities, including New York and Miami. San Francisco, October 25, 2022 – The latest edition of the Duetto Pulse Report, which tracks forward-looking hotel performance data from September 2022 and compares it with August 2022, same time last year (STLY) and 2019 figures, is showing that North America’s hotels can look forward to a robust holiday season this year, with Thanksgiving, Christmas and New Year bookings showing healthy performance in several major cities. Bookings for stay dates from October t...
STR: U.S. Hotel Results for Week Ending 15 October
STR | October 21, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week and produced mixed comparisons with 2019, according to STR‘s latest data through 15 October. 9-15 October 2022 (percentage change from comparable week in 2019*): Occupancy: 70.3% (-2.7%) Average daily rate (ADR): US$157.52 (+15.8%) Revenue per available room (RevPAR): US$110.78 (+12.8%) Among the Top 25 Markets, Tampa reported the largest increases over 2019 in each of the key performance metrics: occupancy (+17.1% to 80.6%), ADR (+34.6% to US$159.80) and RevPAR (+57.7% to US$128.85). Tampa has been one of the markets in Florida that ...
Hotel Pipeline Down Globally, Except for Middle East & Africa
STR | October 20, 2022
LONDON—Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter, according to September 2022 data from STR. September 2022 (% changes in comparison with September 2021) Europe In Construction: 197,884 rooms (-14.1%) Final Planning: 144,277 rooms (-16.1%) Planning: 162,896 rooms (+9.7%) Total Under Contract: 505,057 (-8.3%) Germany (38,676) and the U.K. (29,471) lead Europe in total rooms in construction. Asia Pacific In Construction: 485,250 rooms (+1.5%) Final Planning: 131,427 rooms (-26.3%) Planning: 287,572 (-0.2%) T...
STR: U.S. Hotel Performance for September 2022
STR | October 20, 2022
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior and improved comparisons with 2019, according to September 2022 data from STR. September 2022 (percentage change from September 2019): Occupancy: 66.7% (-0.6%) Average daily rate (ADR): US$154.32 (+16.9%) Revenue per available room (RevPAR): US$103.00 (+16.3%) Among the Top 25 Markets, New York City experienced the highest occupancy level (86.1%), which was down 3.8% from the market’s 2019 benchmark. The market’s performance was helped by the United Nations General Assembly and New York Fashion Week. Markets with the...
STR: Decline in U.S. Hotel Construction Is Easing
STR | October 20, 2022
HENDERSONVILLE, Tennessee—September 2022 was the third consecutive month with an uptick in U.S. hotel construction, while year-over-year declines have been lessening each month since May 2022, according to STR. At a market-level, New York City, Phoenix and Nashville 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 September 2022 (percentage change in comparison with September 2021): In Construction: 156,861 rooms (-8.9%) Final Planning: 173,932 rooms (-15.5%) Planning: 282,225 rooms ...
Baird/STR Hotel Stock Index Fell 9.1% in September
Baird | October 17, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 9.1% in September to a level of 4,564. Year to date through the first nine months of 2022, the stock index has dropped 20.6%. “September was a risk-off month for the broader market, and hotel stocks were down sharply as well. However, the Hotel REITs were modest underperformers only, while the Global Hotel Brands were slight relative outperformers,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Broader macroeconomic concerns continue to dominate investor sentiment and positioning, but underlying hotel fundamen...
