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
U.S. Hotel Profitability Back on the Rise After Omicron-Induced Dip
STR | April 5, 2022
HENDERSONVILLE, Tennessee — April 5, 2022 — After falling to roughly US$20.00 in January, gross operating profit for U.S. hotels reached nearly US$59.00 – the highest level in the metric since October 2021, according to STR‘s February 2022 P&L data release. All of the key performance metrics increased from January, after concerns around Omicron pushed levels lower. GOPPAR: US$58.88 TRevPAR: US$169.77 EBITDA PAR: US$39.29 LPAR (Labor Costs): US$56.63 “Following trends in top-line performance, U.S. profitability levels are recovering more quickly from Omicron than with previous variants,” said Ra...
January 2022 Total International Travel Volume To and From the United States
National Travel and Tourism Office | April 1, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in January 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 2,508,236 increased 140.1% from January 2021, but was 43.0% of total visitor volume in January 2019. January 2022 was the tenth consecutive month that total non-U.S. resident international visitor arrivals to the United States increased on a year-over-year basis. Overseas visitor volume to the United States of 1,010,335 increased 173.3% from January 2021. Mexico recorded the largest inbound visitor vo...
Europe Hotel Occupancy Remains Stable Amid War in Ukraine
STR | March 28, 2022
Note: As the war in Ukraine continues, the obvious concern is with the people affected by this crisis. While remaining sensitive to the situation, STR also understands its responsibility as an independent provider of trusted global data. Hotel performance updates provide added visibility into the impact of the war, economic sanctions, etc. STR will continue to monitor its global data, both historical and forward-looking, and issue updates as appropriate. Hotel performance has remained stable in most of Europe amid the war in Ukraine, and countries bordering the conflict area have seen a refugee-driven lift in occupancy. Using ...
U.S. Hotels – February 2022 Commentary
STR | March 24, 2022
February 2022 Top-Line Metrics (percentage change from February 2019) Occupancy: 56.9% (-8.2%) Average daily rate (ADR): US$137.39 (+6.8%) Revenue per available room (RevPAR): US$78.24 (-1.9%) Key Points from the Month U.S. hotel RevPAR rebounded rapidly to just US$2.54 below the February 2019 comparable. While ADR recovery has been significantly influenced by inflationary pressures, rates on both a nominal and inflation-adjusted (real) basis are recovering faster than in prior downturns. Nominal ADR in February was 6.8% higher than comparable 2019 level, while real ADR came in 4.8% below the pre-pandemic rate....
U.S. Spring Break Destinations Continue Dominance With Peak Still to Come
STR | March 23, 2022
Leisure travel continues to be particularly strong in the U.S. as spring kicks into gear, and the biggest hotel performance wins recently have come in those U.S. markets that are traditional Spring Break destinations. At the same time, major urban centers are seeing some return of transient business demand along with increases in group bookings. Since last month’s update, travelers have continued to seek relief and respite in warmer or winter-fun locales, as shown by hotel performance data for the four weeks ending 12 March 2022. This is an especially good sign for the industry as the largest percentage of K-12 students are not expected...
India’s Hotels Sector Sees Faster Than Expected Recovery With Year-Over-Year Increase of Over 24% in Brand Signings by Keys
Mandeep S Lamba | March 21, 2022
With demand recovering faster than expected in 2021, hotel companies put the COVID-blues behind them and pressed the accelerator on their expansion plans, resulting in a year-over-year increase of over 24% in brand signings by keys. During the year, 135 new hotels with 12,359 rooms entered the branded hotel market, while 58 hotels with 3,108 rooms were rebranded. With an average key count of 65 keys during the year, domestic hotel operators continued to sign more properties (77.7% of the total signings by properties) than their international peers. Meanwhile, international hotel operators persisted with their strategy to sign larger proper...
STR: London Hotel Performance Improved in February
STR | March 14, 2022
LONDON — March 14, 2022 — London’s hotel industry reported month-over-month performance improvement, according to preliminary February 2022 data from STR. Occupancy: 58.8% Average daily rate (ADR): GBP130.79 Revenue per available room (RevPAR): GBP76.88 The occupancy level was the highest in the market since November 2021 but still 25% below the pre-pandemic comparable from 2019. ADR, on the other hand, was just 1.6% lower than February 2019. Daily data shows that London’s performance improved especially on weekends, with 26 February producing the highest performance levels for the month: occupancy (80.8%),...
STR: Sydney Hotel Occupancy Stable in February Amid COVID Concerns
STR | March 14, 2022
LONDON — March 14, 2022 — Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR. Occupancy: 41.7% Average daily rate (ADR): AUD211.42 Revenue per available room (RevPAR): AUD88.21 While occupancy increased slightly, the market’s absolute ADR and RevPAR levels fell month over month. When indexed to 2019, RevPAR was just 35% of 2019 levels. STR’s latest Forward STAR data shows improving occupancy over 2021, with an increase in both March (+50%) and...
February 2022 International Air Passenger Travel
| March 11, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in February 2022: U.S.- International air traffic passenger enplanements (arrivals + departures) totaled 9.766 million in February 2022, up 208% compared to February 2021, however, enplanements reached just 56% of its volume in February 2019. Originating Non-Stop Air Travel in January 2022 Non-U.S. Citizen Air Passenger Arrivals to the United States, from foreign countries, totaled 2.159 million, +236% compared to February 2021 and -53.7% compared to February 2019. On a related note, overseas ‘visitor’ arrivals (‘I-94’/ADIS)...
The 4 Key Trends for Latin American Travelers in Q4
Ana Paradela | March 11, 2022
By Ana Paradela We recently shared the key takeaways of traveler behavior during the final quarter of 2021 in our latest Travel Recovery Trend Report, as well as the top trends for North American (NORAM) travelers and Asia Pacific (APAC) travelers. Some of our insights were shared in a recent virtual Insights Summit webinar focusing on North America and Latin America. Watch the on-demand recording, or read on to look at the data for the Latin American (LATAM) market, and see how these trends compare to what’s happening in other regions and at the global scale. 1. They Searched for Travel More Than Last Year Just as we observ...
STR: U.S. Hotel Results for Week Ending 5 March
STR | March 10, 2022
HENDERSONVILLE, Tennessee — March 10, 2022 — U.S. hotel performance decreased from the previous week, according to STR‘s latest data through 5 March. 27 February through 5 March 2022 (percentage change from comparable week in 2019*): Occupancy: 61.2% (-8.2%) Average daily rate (ADR): US$137.96 (+4.7%) Revenue per available room (RevPAR): US$84.39 (-3.8%) While none of the Top 25 Markets showed an occupancy increase over 2019, Norfolk/Virginia Beach came closest to its 2019 comparable (-0.8% to 56.3%). San Francisco/San Mateo experienced the largest occupancy decrease from 2019 (-36.8% to 5...
HVS Las Vegas Casino and Hotel Market Outlook 2022
Shannon S. Okada | March 7, 2022
By Shannon Okada The number of visitors to Las Vegas exceeded 32.2 million in 2021, which was 10.7 million below the peak number of visitors in 2016. However, gaming revenue in Clark County in 2021 was $11.5 billion, which was approximately $600 million above the prior peak achieved in 2007. Occupied rooms in Las Vegas grew 70.7% in 2021, compared to 2020, from 21.2 million to 36.2 million; total occupancy for the year was 66.8%. Although the number of occupied rooms in 2021 was still 25.1% below that of 2019, ADR for the market in 2021 was a record-setting $137, and total RevPAR was $92. The impact of the COVID-19 pandemic on th...
STR: U.S. Hotel Results for Week Ending 26 February
STR | March 3, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week and showed significant improvement against 2019 comparables, according to STR‘s latest data through 26 February. 20-26 February 2022 (percentage change from comparable week in 2019*): Occupancy: 62.2% (-4.7%) Average daily rate (ADR): US$143.83 (+13.1%) Revenue per available room (RevPAR): US$89.45 (+7.7%) Among the Top 25 Markets, Orlando recorded the largest occupancy increase over 2019 (+6.7% to 85.9%). San Francisco/San Mateo experienced the largest occupancy decrease from 2019 (-31.9% to 53.7%). Helped by the Sou...
Middle East’s Travel & Tourism Sector Could Grow to US$246 Billion in 2022, Says WTTC
WTTC | March 2, 2022
London, UK - March 2, 2022 - New research from the World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in the Middle East could reach US$246 billion this year, just 8.9% behind pre-pandemic levels. In 2019, before the pandemic struck and began to devastate economies around the world, the Travel & Tourism sector in the Middle East was booming, generating US$270 billion to the region’s economy. However, in 2020, when COVID-19 brought international travel to an almost complete standstill, its contribution more than halved, plummeting 51.1%, suffering a brutal loss of more than US$138 billion. L...
U.S. Hotels – January 2022 Commentary
STR | March 2, 2022
January 2022 Top-Line Metrics (percentage change from January 2019): Occupancy: 47.8% (-12.6%) Average daily rate (ADR): US$123.51 (-0.3%) Revenue per available room (RevPAR): US$58.98 (-12.8%) Key Points from the Month The weekday occupancy index (to 2019) softened significantly more than weekends. Group demand remained flat month over month, however, the group demand index fell significantly. While demand (and occupancy) softened moderately across virtually every segment of the industry, ADR indexes fell only modestly month over month even in the Top 25 Markets, as higher-than-anticipated January inflation...
Los Angeles Hotels Underperform Super Bowl Expectations
STR | March 2, 2022
Los Angeles hoteliers enjoyed a strong lift but underperformed due to the Omicron impact. Since 2011, STR has analyzed the top-line hotel performance impact for the Super Bowl host city, both in terms of absolute performance and year-over-year change. As usual, STR also made a prediction about Los Angeles hotel performance weeks before the event, forecasting revenue per available room (RevPAR) of US$396 for the weekend of the big game (Friday-Sunday). With actualized data now processed, that RevPAR projection was an overestimate as weekend RevPAR reached just US$310 RevPAR. Fortunately, that RevPAR level was still a 272% increase from t...
The 4 Key Trends for North American Travelers in Q4
Erica Eyring | February 25, 2022
By Erica Eyring The latest Travel Recovery Trend Report from Expedia Group Media Solutions highlights how the industry demonstrated resilience in the face of unpredictable pandemic circumstances in Q4 2021. Here we look at the insights learned about the North American (NORAM) travel market and compare these trends to those we see occurring at the global level. To uncover even more insights and learn about ways you can implement these learnings into your marketing strategy, register for our upcoming virtual Insights Summit focusing on North America and Latin America. 1. They Searched for Travel Farther Out When look...
STR: U.S. Hotel Results for Week Ending 19 February
STR | February 25, 2022
HENDERSONVILLE, Tennessee — February 25, 2022 — Helped by Presidents’ Day weekend, U.S. hotel performance increased from the previous week and showed improvement against 2019 comparables, according to STR‘s latest data through 19 February. 13-19 February 2022 (percentage change from comparable week in 2019*): Occupancy: 59.1% (-8.4%) Average daily rate (ADR): US$140.11 (+8.4%) Revenue per available room (RevPAR): US$82.87 (-0.8%) Among the Top 25 Markets, Norfolk/Virginia Beach recorded the only occupancy increase over 2019 (+5.7% to 55.0%) San Francisco/San Mateo experienced t...
Online Travel Market Set to Reach $765.3 Billion by 2025, With COVID-19 Accelerating Digitization, Says GlobalData
GlobalData | February 24, 2022
COVID-19 has accelerated the need for companies within the travel and tourism industry to rapidly invest in digital strategies including the global online travel market which is expected to grow at a compound annual growth rate (CAGR) of 8% to reach $765.3 billion between 2022 and 2025, according to GlobalData. The leading data and analytics company notes that due to more consumers shifting to e-commerce, if players fail to invest in a robust digital strategy, they will allow their competitors to take a greater share of the market. GlobalData’s latest thematic report, ‘Thematic Research: Online Travel (2022)’, reveals that intermedia...
STR: Canada Hotel Performance Fell in January Amid Latest COVID Concerns
STR | February 23, 2022
HENDERSONVILLE, Tennessee — February 23, 2022 — Canada’s hotel industry reported lower monthly performance levels amid the latest pandemic concerns, according to STR’s January 2022 data. January 2022 (percentage change from January 2019) Occupancy: 32.4% (-35.9%) Average daily rate (ADR): CAD131.72 (-10.6%) Revenue per available room (RevPAR): CAD42.70 (-42.7%) “The Omicron wave and the restrictions that ensued placed added pressure on performance recovery in January,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “T...
STR: U.S. Hotel Performance for January 2022
STR | February 22, 2022
HENDERSONVILLE, Tennessee — February 22, 2022 — The U.S. hotel industry reported lower performance to open the year, according to January 2022 data from STR. January 2022 (percentage change from January 2019): Occupancy: 47.8% (-12.6%) Average daily rate (ADR): US$123.51 (-0.3%) Revenue per available room (RevPAR): US$58.98 (-12.8%) Among the Top 25 Markets, Miami experienced the highest occupancy level (68.2%), which was still down 12.9% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included Chicago (35.4%) and Minneapolis (36.1%). San Francisco/San Mateo repo...
PwC’s Manhattan Lodging Index: Q4 2021
PwC’s Manhattan lodging index | February 22, 2022
Manhattan Lodging Overview Increases in occupancy, ADR and revenue per available room (“RevPAR”) accelerated across Manhattan during the fourth quarter, as vaccination levels increased across the city during second half of the year and the city continued to reopen following the depths of the pandemic. Fourth quarter RevPAR experienced a year-over-year increase of 389.1 percent, heavily weighted to performance during the last two months of the year. “While RevPAR continued to rebound throughout 2H 2021, November and December showed the most significant year-over-year increases. However, omicron’s impact on hotel metrics in Manhatta...
Canadian Lodging Outlook Quarterly 2021-Q4
| February 21, 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. ...
At Year-End 2021, Europe’s Hotel Construction Pipeline Stands at 1,824 Projects/295,152 Rooms
Lodging Econometrics | February 21, 2022
PORTSMOUTH, NH – February 21, 2022 – In the 2021 year-end Europe Hotel Construction Pipeline Trend Report by Lodging Econometrics (LE), analysts report Europe’s hotel construction pipeline stands at 1,824 projects and 295,152 rooms at the close of the fourth quarter. From 2014 through 2020, Europe’s construction pipeline experienced a steady year-over-year (YOY) increase in project totals. Starting in Q2 2021 and continuing throughout the year, this trend has been reversing with the region’s construction pipeline totals falling slightly below 2019’s year-end totals. This drop in project totals is due to development and opening...
