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
Paris Hotels Reached 2019 Profitability Level in March
STR | May 4, 2022
LONDON—Among key hotel markets in Europe, Paris was the only one to achieve gross operating profit per available room (GOPPAR) that was 100% of the 2019 comparable, according to STR’s March 2022 P&L data release. After two consecutive months with negative levels, due largely to the impacts of the omicron variant, Paris posted a March GOPPAR of US$117.26. Also reporting significant month-over-month improvement, London posted a March GOPPAR of US$90.82. That level was 87% of the pre-pandemic comparable after the market had reached just 38% using the same comparison in February. Amsterdam’s GOPPAR was 68% of the 2019...
Hotel Transactions Up on 2020 Levels With Single Asset Deals Reaching Record Average Room Rates, Reveals HVS Report
HVS | May 3, 2022
Strong recovery for European hotel transactions with deals worth €16.4bn Year sees record average sale price per hotel room for single assets at €260,000 London tops hotel transaction top 5 with Barcelona, Stockholm, Berlin and Madrid 03 May 2022, London: Last year was one of strong recovery for European hotel transactions with €16.4bn-worth of deals, twice that of 2020, according to the latest European Hotel Transactions report from global hotel consultancy HVS and its brokerage and investment services division HVS Hodges Ward Elliott. The report reveals that 322 European hotel transactions took place during 2021 ...
U.S. Hotel Profitability Reached 28-Month High in March
STR | May 2, 2022
HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) reached its highest level since November 2019, according to STR‘s March 2022 P&L data release. The GOPPAR level was less than $10 shy of reaching the pre-pandemic comparable from March 2019. GOPPAR: US$83.81 TRevPAR: US$204.84 EBITDA PAR: US$62.68 LPAR (Labor Costs): US$61.45 EBITDA PAR was the industry’s highest since November 2019, while TrevPAR and LPAR were the highest since March 2020. “Aligned with jumps in top-line performance that have continued into April, each of the bottom-line metrics showed dras...
HVS Market Pulse: Philadelphia, Pennsylvania, Lodging Market
HVS | May 2, 2022
The COVID-19 pandemic has had a severe impact on the Philadelphia lodging market. While the area regained a substantial amount of tourism in 2021, Philadelphia’s lodging market has remained depressed for nearly two years given the limited amount of commercial and group demand. Demand was healthy in the years prior to the pandemic, with Philadelphia hotels registering occupancy levels in the high 60s to low 70s from 2011 through 2019. Occupied room nights were generated by a mixture of tourists visiting sites and museums or attending sporting events, group and international travelers attending events at the Pennsylvania Convention Center...
February 2022 Total International Travel Volume To and From the United States
National Travel and Tourism Office | May 2, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in February 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 2,269,089 increased 223.5% from February 2021 but was 44.6% of total visitor volume in February 2019. Overseas visitor volume to the United States of 1,047,469 increased 339.1% from February 2021. February 2022 was the eleventh consecutive month that total non-U.S. resident international arrivals to the United States increased on a year-over-year basis. The largest numbers of international visitors were fr...
At Q1’22, the Province of Ontario Leads Canada’s Hotel Construction Pipeline
Lodging Econometrics | April 29, 2022
April 29, 2022 – PORTSMOUTH, NH As reported in the Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, at Q1 2022, the country’s hotel construction pipeline currently stands at 258 projects/35,768 rooms. Construction pipeline projects remain unchanged year-over-year (YOY), while rooms are up by 1%. At the close of the first quarter, projects under construction in Canada stand at 62 projects/8,114 rooms. Projects scheduled to start construction in the next 12 months stand at 91 projects/12,473 rooms, a 23% increase by projects and 50% by rooms YOY, and projects in the early planning stage stand at 105 projects/15...
First-Quarter 2022 Hotel Performance Ends on High Note
HotStats | April 28, 2022
Beware the ides of March. But for the global hotel industry, the month was anything but a tragedy. First-quarter hotel performance ended strong with March profit surging across most global regions, a sign of stronger revenues, better conversion rates and new worries over a COVID upsurge not discouraging would-be travelers. European GOPPAR hit €35.97, the highest the number has reached since it peaked in October 2021, though still around €12 lower than March 2019. After GOPPAR dropped into negative territory in January, it’s now up 229% YTD compared to the same time in 2021. Feeding into the increase in GOPPAR was a concurrent l...
STR: U.S. Hotel Results for Week Ending 23 April
STR | April 28, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 23 April. 17-23 April 2022 (percentage change from comparable week in 2019*): Occupancy: 65.8% (-4.2%) Average daily rate (ADR): US$148.35 (+15.4%) Revenue per available room (RevPAR): US$97.66 (+10.5%) Among the Top 25 Markets, Tampa saw the highest occupancy (+3.4% to 78.1%) and ADR (+38.5% to US$203.40) increases over 2019. Minneapolis experienced the largest occupancy decrease from 2019 (-21.1% to 53.8%). The steepest RevPAR deficits were in San Francisco/San Mateo (-24.8% to US$131...
Marriott, Hilton, and IHG Account for 67% of U.S. Construction Pipeline Projects
Lodging Econometrics | April 28, 2022
April 28, 2022 – PORTSMOUTH, NH – In the recently released Q1 2022United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest U.S. construction pipelines at the end of 2022’s first quarter are Marriott International, with 1,359 projects/171,820 rooms, followed by Hilton Worldwide, with 1,287 projects/146,579 rooms, and InterContinental Hotels Group (IHG), with 785 projects/79,095 rooms. These three companies combined account for 67% of the projects and 66% of the rooms in the total U.S. construction pipeline. At the end of Q1'22, the franchise company with the most project...
Hotel Demand Races Upwards Around Formula 1 Events
STR | April 26, 2022
Formula 1 has an ever-growing fan base, including many hoteliers who are currently witnessing a surge in occupancy on the books because of an upcoming Grand Prix in their city. Utilizing STR’s Forward STAR, we review five markets set to host a race over the course of this year, including Miami, one of our newest Forward STAR markets in North America. Through STR’s historical database, we also look at the actualized impact from a recent F1 event in Australia. North America While not at the level of Europe or the Middle East, Formula 1 is growing in popularity throughout North America. One way of observing this growth is through the risin...
STR: Canada Hotel Rates Exceeded 2019 Levels in March
STR | April 26, 2022
HENDERSONVILLE, Tennessee—Canada’s monthly hotel rates exceeded 2019 levels for the first time since the pandemic began, according to STR’s March 2022 data. March 2022 (percentage change from March 2019) Occupancy: 53.3% (-11.2%) Average daily rate (ADR): CAD149.73 (+0.7%) Revenue per available room (RevPAR): CAD79.87 (-10.5%) "Hotel performance improved significantly with the elimination of nearly all COVID-related restrictions across the country,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “The absolute occupancy level was the hi...
Belfast Seeing a Surge in Spring and Summer Bookings
STR | April 25, 2022
As 2022 moves further into spring and the summer months draw nearer, many markets around the world are seeing pent-up travel demand bolstering their hotel occupancy on the books. A good example can be found in Belfast, where the growing desire to travel and a variety of big-name events are leading to a positive performance outlook for hotels in Northern Ireland’s capital. This latest update from STR’s Forward STAR shows the many ups Belfast hoteliers can expect in the next year. May is busy with music When examining Belfast’s forward occupancy, we see how two world-renowned performers, each appealing to very different audienc...
India Hotel Occupancy and ADR Top Pre-Pandemic Levels in Mid-April
STR | April 25, 2022
LONDON—Amid continued recovery from the Omicron wave, India’s hotel industry eclipsed pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive days during the second week of April, according to preliminary data from STR. The three days (16-18) were the first of 2022 with both occupancy and ADR above 2019 levels in India. When using a running 7-day average, occupancy and ADR have been above 90% of pre-pandemic comparables since late-March. On Monday, 18 April, India recorded its highest ADR index of the year at 106% of the 2019 comparable. Occupancy surpassed pre-pandemic levels earlier in the year, reac...
STR: U.S. Hotel Performance for March 2022
STR | April 21, 2022
HENDERSONVILLE, Tennessee—Lifted by Spring Break travel, the U.S. hotel industry reported elevated performance with better indexed comparisons against 2019, according to March 2022 data from STR. March 2022 (percentage change from March 2019): Occupancy: 64.0% (-6.2%) Average daily rate (ADR): US$146.61 (+10.9%) Revenue per available room (RevPAR): US$93.82 (+4.0%) The country’s occupancy and RevPAR levels were the highest since July 2021. On a nominal basis, the country’s ADR level was the highest for any month on record. When adjusted for inflation, the March ADR level was roughly 2% below the 2019 comparable. Amo...
STR: U.S. Hotel Results for Week Ending 16 April
STR | April 21, 2022
HENDERSONVILLE, Tennessee—Aligned with historical patterns, U.S. hotel performance came in lower during the week of Easter, according to STR‘s latest data through 16 April. 10-16 April 2022 (percentage change from comparable week in 2019*): Occupancy: 62.0% (-5.6%) Average daily rate (ADR): US$147.25 (+14.4%) Revenue per available room (RevPAR): US$91.25 (+8.0%) Among the Top 25 Markets, Tampa saw the highest occupancy increase over 2019 (+3.2% to 76.6%). Minneapolis experienced the largest occupancy decrease from 2019 (-22.7% to 46.6%). Phoenix posted the largest ADR increase over 2019 (+33.8% to US$189.16...
Largest U.S. Hotel Markets Showed Considerable RevPAR Gains as Spring 2022 Began
STR | April 20, 2022
More than two-thirds of STR-defined U.S. hotel markets (113 of 165) outperformed their 2019 comparables over the four weeks ending 9 April 2022, which is reflective of the industry’s rebound toward normalcy as well as some influence from inflation. Only seven markets in total over the 28-day period reported revenue-per-available-room (RevPAR) indices below 80 (20% below 2019 levels). Late March into early April 2022 also marked a key turnaround in the number of major markets making appreciable performance gains toward historical performance levels. A dozen of the Top 25 Markets experienced RevPAR that was 20% or higher month over month. ...
Q1 2022 Major U.S. Hotel Sales Survey
Daniel Lesser | April 20, 2022
By Daniel Lesser As the world was emerging from a once in century pandemic, global and national events during the first three months of 2022 have resulted in a transformative quarter unlike any for nearly 80 years. During the nuclear superpower age, the notion of an unprovoked brutal attack and invasion of a sovereign state was the stuff of fiction. "Never again" is a phrase associated with the Holocaust, the genocide of European Jews during World War II. Unfortunately, the phrase is merely two words as history is currently repeating itself in Eastern Europe. As of the end of Q1 2022, skyrocketing energy and food costs have greatly ...
Report: Hotels Projected to End 2022 Down $20 Billion in Business Travel Revenue, Nearly 25% Below Pre-Pandemic Levels
AHLA | April 19, 2022
Click Here for a State-By-State Breakdown Click Here for a Market-By-Market Breakdown WASHINGTON (April 19, 2022) – According to a new report released today by the American Hotel & Lodging Association and Kalibri Labs, U.S. hotel business travel revenue is projected to be 23% below pre-pandemic levels in 2022, ending the year down more than $20 billion compared to 2019. This comes after hotels lost an estimated $108 billion in business travel revenue during 2020 and 2021 combined. While leisure travel is expected to return to pre-pandemic levels this year, business travel—which includes corporate, group, government, and oth...
Hotel Insurance – A Largely Uncontrollable Cost
Robert Mandelbaum | April 19, 2022
To analyze recent changes in hotel insurance costs, and the factors that influence those changes, we examined the operating statements of 3,156 U.S. hotels that reported insurance expenses for the Trends® survey each year from 2015 through 2021 (estimated). By Robert Mandelbaum & Tom Cleary In 2020 and 2021, U.S. hotel operators did a praiseworthy job controlling expenses to offset the significant declines in revenue. Based on data from CBRE’s Trends® in the Hotel Industry survey of annual operating statements from thousands of properties across the U.S., not only have we seen a reduction in the variable expenses associated wi...
Lonavala: a Thriving Leisure Destination in Maharashtra
Saniya Zanpure | April 18, 2022
By Saniya Zanpure, Dipti Mohan Lonavala, popularly known as the “city of caves” or the “jewel of Sahyadri” is a small town located more than 2,000 feet above sea level in the Sahyadri range in the Indian state of Maharashtra. It is one of the most visited hill stations in the country due to its tropical climate and pleasant weather all year round, as well as its strategic location 60-80 kilometers from key metropolitan cities in the state such as Mumbai and Pune. Moreover, the town is surrounded by dense forests, magnificent waterfalls, tranquil lakes, green valleys boasting spectacular views, caves, and forts, which have made Lona...
STR: Berlin Hotel Performance Improved in March
STR | April 13, 2022
LONDON — April 13, 2022 — Berlin’s hotel industry reported month-over-month performance improvement, according to preliminary March 2022 data from STR. Occupancy: 51.3% Average daily rate (ADR): EUR84.98 Revenue per available room (RevPAR): EUR43.57 The occupancy and RevPAR levels were the highest in the market since November 2021. These levels were still 30% and 40% below the pre-pandemic comparables from 2019, respectively. Daily data shows that Berlin’s weekday and weekend performance is more aligned, pointing to increased business demand during the weekdays. All of STR’s COVID-19 analysis can be fo...
Review of Beijing Hotel Performance During the Winter Olympics
STR | April 11, 2022
Following the Beijing Winter Olympics and Paralympics, China’s domestic ice and snow economy continues to boom. According to the latest data, the number of participants in ice and snow sports across the country reached 346 million after the Olympics achieved nearly 600 million domestic TV viewers. However, as the second host city of a pandemic-era Olympics, how did Beijing’s hotel market fare? What were the performance differences among the city’s submarkets? How did that performance compare with pre-pandemic periods? As the world's largest provider of hotel data and analytics, STR is pleased to provide this latest market overview fo...
Australian Grand Prix Lifting Melbourne Hotel Bookings to 29-Month High
STR | April 7, 2022
ADELAIDE, Australia — April 7, 2022 — This weekend’s Australian Grand Prix is lifting Melbourne’s hotel occupancy on the books to its highest level since November 2019, according to STR’s Forward STAR. As of 4 April, the Thursday-Sunday (7-10 April) average in the market is 89% with a peak of 94% on Saturday night. Should that Saturday level actualize, it would be the market’s highest daily occupancy since 30 November 2019 as well as the highest occupancy for any major Australian capital since New Year’s Eve 2019. “Ever since the calendar dates were announced, Melbourne’s bookings have been progressively bui...
Amadeus Unveils Five Defining Trends for the US Group Travel and Events Industry in 2022
Amadeus | April 6, 2022
• Forward-looking on-the-books hotel group occupancy rates for 2022 in the US already match the total made in 2021, and outperform 2020 • Data points to significant uptick, particularly in unique markets, but bookings will be smaller in both size and value with shorter lead times As hoteliers evaluate their group business opportunities for 2022, a new report from Amadeus combines hotelier insights with Amadeus business intelligence data to reveal the key trends that will guide the group travel and events market in the year ahead. According to Amadeus’ Demand360® data, 2022 is showing a significant rise in group travel booking ...
