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
US Average Overseas Tourism Expenditure Per Person Reached $3,580 in 2021, Making It the Most Valuable Globally
| February 17, 2022
With an average spend per resident amounting to $3,580, the US source market is projected to be the most valuable globally in terms of average overseas tourism expenditure in 2021, according to GlobalData’s latest forecast. The leading data and analytics company notes that the willingness of the US market to dedicate significant amounts of its disposable income to international trips could help to drive the recovery of many destinations across the globe. GlobalData’s latest thematic report, ‘Premiumization in Travel & Tourism (2022)’, reveals that within the top 10 outbound destinations for the US market in 2021, six would be ...
STR: Melbourne Hotel Rates Reached Pandemic-Era Highs in January
STR | February 14, 2022
LONDON — February 14, 2022 — Helped by the Australian Open, Melbourne’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary January 2022 data from STR. Occupancy: 40.8% Average daily rate (ADR): AUD204.21 Revenue per available room (RevPAR): AUD83.28 The market’s absolute ADR level was its highest since November 2019, while the occupancy and RevPAR levels were slightly lower compared with the month prior. January’s result is a representation of event-driven demand, as Melbourne performance is pushed more by domestic leisure travel and less by hotel quarantine contribution. M...
UK’s Travel & Tourism Sector Poised to Hit £192 Billion This Year if Government Keeps Borders Open, Says WTTC
WTTC | February 11, 2022
London, UK - February 11, 2022 - New data from the World Travel & Tourism Council (WTTC) shows the UK’s Travel & Tourism sector is recovering, with the country’s GDP predicted to rise to £192 billion, just 19% below pre-pandemic levels by the end of 2022. The global tourism body forecasts a healthy recovery for the UK Travel & Tourism sector if travel restrictions and unnecessary testing protocols remain off limits for the rest of the year. According to the latest research, it could also mean a net gain in jobs for the sector, with a rise of 1.7% on pre pandemic levels, resulting in some 4.3 million people being empl...
China’s Hotel Construction Pipeline Closes 2021 at New Record High
Lodging Econometrics | February 11, 2022
PORTSMOUTH, NH – February 11, 2022 – As seen in the Q4 2021 China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline at the end of the fourth quarter stands at 3,693 projects/700,567 rooms, up 9% by projects and rooms year-over-year (YOY). Despite the country’s COVID-19 travel restrictions for international visitors, hotel construction and development in China continued to thrive throughout 2021. At year-end, both projects and rooms in the construction pipeline are at new all-time highs, marking the highest totals the country has ever seen. Projects presently under constr...
STR: U.S. Hotel Results for Week Ending 5 February
STR | February 10, 2022
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy eclipsed 50% for the first time in more than a month, but the index to 2019 dipped from the week prior, according to STR‘s latest data through 5 February. 30 January through 5 February 2022 (percentage change from comparable week in 2019*): Occupancy: 50.4% (-15.8%) Average daily rate (ADR): US$125.06 (-1.2%) Revenue per available room (RevPAR): US$63.05 (-16.8%) While none of the Top 25 Markets recorded an occupancy increase over 2019, Norfolk/Virginia Beach came closest to its pre-pandemic comparable (-0.6% to 47.3%). San Francisco/San Mateo experienced th...
London Hotels See Flight to Quality From Today’s Leisure Guests, Hears Webinar
HVS | February 10, 2022
London - February 10, 2022 - London’s hotel market will return to pre-pandemic performance levels but is unlikely to return to growth until at least 2024/25. This was the conclusion of the 15th hotel webinar organised by consultancy HVS, legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners, held yesterday [9th February 2022]. While the majority (38%) of the 300 webinar attendees said in a poll that they did not expect hotel RevPAR to reach 2019 levels until 2023, 19% were more pessimistic with estimates of recovery later than 2024. Nearly half said a key feature o...
Knowland Meetings Recovery Forecast Identifies Top U.S. Markets to Recover in 2022
Knowland | February 9, 2022
New market forecast capability provides insights to help hospitality industry improve sales and investment decision making ARLINGTON, Va. — Feb. 9, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced it has added the ability to filter its U.S. Meetings Recovery Forecast by market, now known as the Top 25 U.S. Meetings Recovery Forecast (MRF25). Access to the data is complimentary and provides the industry with predictive insights into event recovery over the next three years. Click here to view the MRF25. Jeff Bzdawka, CEO, Knowland, said: “The additional da...
9 Experts React to Stayntouch Report Finding Hotel Technology Sentiment, and Spending, Are Reaching a Tipping Point
Stayntouch | February 9, 2022
Hospitality has embraced technology in unprecedented ways. According to the 2022 Hotelier Technology Sentiment Report, released by Stayntouch in partnership with Graduate Students at NYU Tisch Center of Hospitality, hotels are spending more on technology than ever before, with technology spending increasing 31 percent in under two years. Among other things, these findings gathered from a survey of 525 hoteliers between October-November 2021, demonstrate how the current business cycle has increased and accelerated the drive toward innovation and tech adoption industrywide. Key trends include: • 7 percent of all respondents reported im...
Travel & Tourism Industry Sees 1,080 Deals In 2021, Finds GlobalData
GlobalData | February 7, 2022
A total of 1,080* deals were announced in the global travel and tourism sector during 2021, which is an improvement of 1.3% over the 1,066 deals announced during 2020, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel and tourism sector consistently improved month-on-month during the latter half of 2021— though December suffered a setback that could be attributed to the rising number of Omicron cases. Nevertheless, there was a year-on-year improvement globally.” Deal activity improved in key markets such as the US, Australia,...
Latin America’s Hotel Construction Pipeline Closes Out 2021 With 563 Projects/101,523 Rooms
Lodging Econometrics | February 7, 2022
PORTSMOUTH, NH – February 7, 2022 – As seen in the Lodging Econometrics (LE) 2021 year-end Construction Pipeline Trend Report for Latin America, the total hotel construction pipeline at the end of the fourth quarter stands at 563 projects/101,523 rooms. The region’s pipeline experienced an 11% decline in projects and a 7% decrease in rooms, year-over-year (YOY) in Q4. At the close of Q4 ‘21, projects under construction stand at 281 projects/58,813 rooms. Projects scheduled to start construction in the next 12 months are at 147 projects/20,732 rooms. Projects in the early planning stage stand at 135 projects/21,978 rooms. New proj...
STR: U.S. Hotel Results for Week Ending 29 January
STR | February 3, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased slightly from the previous week and showed improved comparisons against 2019, according to STR‘s latest data through 29 January. 23-29 January 2022 (percentage change from comparable week in 2019*): Occupancy: 49.7% (-12.2%) Average daily rate (ADR): US$122.40 (-1.9%) Revenue per available room (RevPAR): US$60.82 (-13.9%) Among the Top 25 Markets, Norfolk/Virginia Beach recorded the only occupancy increase (+2.0% to 46.6%) and the highest RevPAR gain (+15.2% to US$41.15) over 2019. San Francisco/San Mateo experienced the largest occupancy decrease from ...
U.S. Hotel Profits Reached 52% of Pre-Pandemic Level in 2021
STR | February 3, 2022
HENDERSONVILLE, Tennessee—Gross operating profit for U.S. hotels reached 52% of the comparable 2019 level, according to STR‘s full-year 2021 P&L data release. Strong holiday demand in both November and December helped overall profitability levels, with December showing 2021’s highest recovery index in each of the key metrics. “Though the industry still has a way to go on the path to full recovery, a lot of headway was made in 2021,” said Raquel Ortiz, STR’s assistant director of financial performance. “Each passing month we saw revenues and profits continue on a positive, upward trend. Profit margins were relative...
U.S. Hotel Occupancy Remains Soft for Third Consecutive Week
STR | January 28, 2022
For a third consecutive week, U.S. hotel occupancy remained soft with occupancy for 16-22 January staying basically flat (-0.1 percentage point) at 48.7%. Room demand declined by 13,000 nights week on week but remained above 18 million and increased on a relative basis against 2019 with the index at 87.2, up 0.5 points week on week. Average daily rate (ADR) increased for a second week but by only 0.2% with the index to 2019 rising to 98.6. Revenue per available room (RevPAR) also moved slightly upwards (+0.1%) with the index to 2019 (82.9) the highest of the past three weeks. While there is little doubt that Omicron...
Beijing Hotel Performance Expectations as Lunar New Year and Olympics Intersect With the Pandemic
STR | January 27, 2022
Overlap between the Lunar New Year, 2022 Winter Olympic Games and the ongoing pandemic will create a conflicting mix of demand drivers for hoteliers in Beijing. With New Year celebrations typically driving travelers out of major metros, the Olympic Games pushing demand into the event center, and China’s zero-tolerance COVID-19 precautions overlaying both major events, February will be a month to remember for the Chinese capital. Lunar New Year Even pre-pandemic, Lunar New Year was not a major demand driver for Beijing as business travel typically falls substantially in the two weeks leading up to the weeklong holiday. Some l...
STR: U.S. Hotel Results for Week Ending 22 January
STR | January 27, 2022
HENDERSONVILLE, Tennessee — January 27, 2022 — U.S. hotel performance remained relatively flat from the previous week, according to STR‘s latest data through 22 January. 16-22 January 2022 (percentage change from comparable week in 2019*): Occupancy: 48.7% (-15.9%) Average daily rate (ADR): US$122.17 (-1.4%) Revenue per available room (RevPAR): US$59.52 (-17.1%) While none of the Top 25 Markets recorded an occupancy increase over 2019, Tampa came closest to its pre-pandemic comparable (-1.7% to 72.1%). The market also registered the largest rise in ADR (+14.0% to US$151.74) and the only RevPAR...
Slow Holiday Season Highlights a Handful of Highflyers in the U.S.
STR | January 25, 2022
The last weeks of December along with the first weeks of a fresh year are typically slower for hotels. Throw in lingering concerns around the pandemic and many areas of the country have seen low performance as the calendar flipped from 2021 to 2022. Not all markets are deep in deficit territory, however, as a diverse range of STR-defined markets are achieving relatively strong indicators. Our new “bubble charts” for 2022 highlight the leaders and laggards for the four weeks ending 15 January. Among the Top 25 Markets, both Miami and Oahu had outstanding months. Compared with 2019, Miami attained a revenue-per-available-room (RevPAR)...
STR: U.S. Hotel Performance for December 2021
STR | January 20, 2022
HENDERSONVILLE, Tennessee — January 20, 2022 — The U.S. hotel industry posted solid performance in comparison with pre-pandemic levels, according to December 2021 data from STR. December 2021 (percentage change from December 2019): Occupancy: 53.3% (-1.4%) Average daily rate (ADR): US$135.28 (+6.7%) Revenue per available room (RevPAR): US$72.15 (+5.2%) U.S. demand reached 90.8 million room nights sold, which was just above December 2019 (90.6m) and the highest for any December on record. ADR and RevPAR also hit all-time highs for the month. Among the Top 25 Markets, Oahu Island experienced the highest occu...
HVS Market Pulse: Arlington, Virginia
HVS | January 20, 2022
The COVID-19 pandemic has had a severe impact on the Arlington, Virginia, and greater Washington, D.C. region’s lodging markets. Although a substantial amount of leisure demand was present in 2021, Arlington’s lodging market has remained depressed overall for nearly two years given the limited commercial, government, and group demand. Demand was healthy in the years prior to the pandemic, with Arlington hotels registering occupancy levels in the mid-70s from 2016 through 2019. Largely generated by Arlington’s proximity to Washington, D.C., occupied room nights represented a mix of leisure travelers visiting the monuments and museum...
Q4 2021 Major U.S. Hotel Sales Survey
Daniel Lesser | January 19, 2022
By Daniel Lesser During 2021, vaccines and booster shots paved the way for a brief return to some semblance of normalcy, however as we enter 2022 the nearly two-year global health crisis is not over. Since the end of November, the Omicron variant of COVID-19 has surged, bringing record high daily counts of infection resulting in many companies further delaying their long-awaited return-to-office. Staffing shortages and the global supply chain challenges continue to wreak havoc on businesses and Omicron has the potential to further disrupt travel including the airline, hotel, and group meeting and convention industries. The good news is t...
Hotel Construction Down Around the World, Except in Asia Pacific Region
STR | January 17, 2022
HENDERSONVILLE, Tennessee — January 17, 2022 — Asia Pacific is the only world region showing increased hotel construction activity in comparison with the end of Q4 last year, according to December 2021 data from STR. December 2021 (% changes in comparison with December 2020) Europe In Construction: 221,789 rooms (-7.6%) Final Planning: 163,805 rooms (-4.9%) Planning: 159,232 rooms (+4.7%) Total Under Contract: 544,826 rooms (-3.5%) Germany (45,121) and the U.K. (31,464) continue to lead Europe in total rooms in construction. Asia Pacific In Construction: 473,983 rooms (+5.0%) Final Planning: 170,210 ro...
STR: U.S. Hotel Results for Week Ending 8 January
STR | January 13, 2022
HENDERSONVILLE, Tennessee — January 13, 2022 — Reflecting post-holiday seasonality, U.S. hotel performance fell from the previous week, according to STR‘s latest data through 8 January. 2-8 January 2022 (percentage change from comparable week in 2019*): Occupancy: 45.4% (-14.9%) Average daily rate (ADR): US$119.92 (-4.8%) Revenue per available room (RevPAR): US$54.47 (-19.0%) Occupancy fell week over week because of a slowdown in leisure demand and a continued absence of business travel due to a Saturday holiday. While ADR also dropped from an all-time high the previous week, the metric came in at ro...
Los Angeles Hotel Rates Forecasted at $445, Second Highest for a Super Bowl Weekend
STR | January 12, 2022
BROOMFIELD, CO — January 12, 2022 — Hotel average daily rate (ADR) and revenue per available room (RevPAR) in the Los Angeles market are projected to reach the second-highest levels for any Super Bowl weekend on record, according to STR’s forecasting team. The market is projected to achieve an ADR of $445 and a RevPAR of $396 for Friday, February 11 through Sunday, February 13. “Since July, the Los Angeles hotel market has consistently achieved monthly rates near or above pre-pandemic levels,” said Blake Reiter, STR’s director of custom forecasts. “Occupancy has been rapidly improving toward 2019 levels as well, bu...
STR: Sydney Hotel Rates Reached Pandemic-Era Highs in December
STR | January 11, 2022
LONDON — January 11, 2022 — Reflecting the beginning of summer and impact of the holiday season, Sydney’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary December 2021 data from STR. Occupancy: 45.0% Average daily rate (ADR): AUD236.64 Revenue per available room (RevPAR): AUD106.38 The market’s absolute ADR level was its highest for any month since December 2019, while occupancy and RevPAR were the highest since May and April 2021, respectively. On 31 December, Sydney’s ADR (AUD533.81) was the highest in the market since 31 December 2019 (AUD651.85), while RevPAR (AUD287....
STR: Dubai Hotel Rates Reached Six-Year High in December
STR | January 11, 2022
LONDON — January 11, 2022 — Lifted by Expo 2020 and the holiday season, Dubai’s hotel industry reported its highest monthly room rates since 2015, according to preliminary December 2021 data from STR. Occupancy: 78.2% Average daily rate (ADR): AED956.01 Revenue per available room (RevPAR): AED747.28 The market’s absolute ADR and RevPAR levels were its highest for any month since January 2015 and March 2015, respectively. On 31 December, the market’s ADR (AED1,963.67) was the highest for any one day in STR’s Dubai database, while the market’s RevPAR (AED1,743.89) was the highest since 31 December 2015 (AED1,768.8...
