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
STR: London Hotel Performance Reached Pandemic-Era Highs in October
STR | November 15, 2021
LONDON — November 15, 2021 — London’s hotel industry reported its highest performance levels of the pandemic-era, according to preliminary October 2021 data from STR. Occupancy: 65.4% Average daily rate (ADR): GBP145.63 Revenue per available room (RevPAR): GBP95.22 Each of the three key performance metrics were the highest for any month since February 2020. Even with the overall improvement, London’s performance remained well below the pre-pandemic comparables from October 2019: occupancy (87.4%), ADR (GBP160.19) and RevPAR (GBP139.98). All of STR’s COVID-19 analysis can be found here....
STR: Expo Lifted Dubai Hotel Rates to Three-Year High in October
STR | November 15, 2021
LONDON — November 15, 2021 — Lifted by the opening of Expo 2020, Dubai’s hotel industry reported its highest monthly room rates since 2018, according to preliminary October 2021 data from STR. Occupancy: 81.6% Average daily rate (ADR): AED776.62 Revenue per available room (RevPAR): AED633.66 The market’s absolute ADR and RevPAR levels were the highest for any month since January 2018 and February 2018, respectively, while the occupancy level was the highest since January 2020. All of STR’s COVID-19 analysis can be found here....
STR: U.S. Hotel Results for Week Ending 6 November
STR | November 11, 2021
HENDERSONVILLE, Tennessee — November 11, 2021 — U.S. hotel performance increased slightly from the previous week, according to STR‘s latest data through 6 November. 31 October through 6 November 2021 (percentage change from comparable week in 2019*): Occupancy: 59.8% (-13.0%) Average daily rate (ADR): US$128.14 (-3.2%) Revenue per available room (RevPAR): US$76.61 (-15.8%) While none of the Top 25 Markets recorded an occupancy increase over 2019, Norfolk/Virginia Beach came closest to its 2019 comparable (-5.2% to 59.9%). Oahu Island experienced the steepest occupancy decline from 2019 (-45...
At the Close of Q3‘21, Latin America’s Hotel Construction Pipeline Project Counts Are Down 14% YOY
Lodging Econometrics | November 9, 2021
PORTSMOUTH, NH – November 9, 2021 – In the Q3‘21 Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report the total construction pipeline stands at 577 projects/103,648 rooms. The region’s pipeline project counts are down 14% and room counts are down 11%, year-over-year (YOY). Projects under construction at the end of Q3‘21 stand at 304 projects/60,048 rooms, down 12% by projects and 2% by rooms YOY. Projects scheduled to start construction in the next 12 months stand at 155 projects/24,959 rooms, down 17% and 28% respectively, and those in the early planning stage are down 16% by projects ...
STR: U.S. Hotel Results for Week Ending 30 October
STR | November 4, 2021
HENDERSONVILLE, Tennessee — November 4, 2021 — As anticipated ahead of Halloween, U.S. hotel performance fell week over week, according to STR‘s latest data through 30 October. 24-30 October 2021 (percentage change from comparable week in 2019*): Occupancy: 58.9% (-5.7%) Average daily rate (ADR): US$127.70 (+1.5%) Revenue per available room (RevPAR): US$75.28 (-4.3%) Even with a drop in performance levels from previous weeks, comparisons with the matching week in 2019 improved because Halloween that year fell on a Thursday and created a more significant disruption in business travel and groups. ...
STR: Chile Hotel Occupancy Nearing Pre-Pandemic Levels
STR | November 1, 2021
BOGOTA — November 1, 2021 — Chile’s hotel occupancy reached 90% of the 2019 comparable, according to September 2021 data from STR. The country’s 47.6% occupancy level in September was 10% lower than September 2019 (52.8%) after August (47.8%) came in 22.3% below the 2019 comparable. “Chile has been different than many countries in that it is recovering occupancy quicker than average daily rate,” said Patricia Boo, STR’s area director, Central & South America. ADR for September came in at CLP 60,473.55, which was the highest level in the country since March 2020 but just 83% of the pre-pandemic comparison. &nbs...
STR: U.S. Hotel Results for Week Ending 23 October
STR | October 28, 2021
HENDERSONVILLE, Tennessee—U.S. hotel occupancy dipped a percentage point week over week, while room rates rose slightly, according to STR‘s latest data through 23 October. 17-23 October 2021 (percentage change from comparable week in 2019*): Occupancy: 63.9% (-9.1%) Average daily rate (ADR): US$134.14 (-0.6%) Revenue per available room (RevPAR): US$85.74 (-9.6%) While none of the Top 25 Markets recorded an occupancy increase over 2019, Tampa came closest to its 2019 comparable (-3.1% to 68.5%). The market also reported the largest increases in ADR (+16.1% to US$138.33) and RevPAR (+12.6% to US$94.71) when compared...
At the End of Q3 2021, Dallas Tops the U.S. Hotel Construction Pipeline
Lodging Econometrics | October 28, 2021
PORTSMOUTH, NH – October 27th, 2021 – In the third quarter of 2021, analysts at Lodging Econometrics (LE) report that the top five markets with the largest total hotel construction pipelines by projects are: Dallas with 147 projects/17,711 rooms, Atlanta with 139 projects/18,659 rooms, Los Angeles with 133 projects/22,145 rooms, New York City with 130 projects/22,417 rooms, and Houston, with 90 projects/9,225 rooms. These top five markets account for 13% of the projects and 15% of rooms in the total U.S. pipeline. The top 25 U.S. markets account for 33% of all pipeline projects and 37% of all rooms in the U.S. hotel construction pipeli...
STR: Canada Hotel Performance Declined in September
STR | October 26, 2021
HENDERSONVILLE, Tennessee — October 26, 2021 — Canada’s hotel industry reported lower performance levels from the month prior, according to STR’s September 2021 data. The country’s performance levels also remained well below pre-pandemic comparisons from September 2019: Occupancy: 58.2% (-20.9%) Average daily rate (ADR): CAD152.87 (-14.8%) Revenue per available room (RevPAR): CAD89.00 (-32.6%) “The typical seasonal pattern and a rise in COVID cases put pressure on demand,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “Hote...
U.S. Construction Pipeline Experiences Highs and Lows in the Third Quarter
Lodging Econometrics | October 25, 2021
PORTSMOUTH, NH – October 25, 2021 – Analysts at Lodging Econometrics (LE) report that in the third quarter of 2021 the total U.S. construction pipeline stands at 4,837 projects/592,259 rooms, down 8% by projects and 10% by rooms year-over-year (YOY). While project numbers have seen a slight increase over second quarter totals, overall, the construction pipeline remains largely muted due to a reduced inflow of new projects in the pipeline as compared to “pre-COVID levels,” and significant hotel openings during the first half of the year which exited the pipeline. The prolonged effects of the pandemic, above average inflation, rising in...
STR: U.S. Hotel Results for Week Ending 16 October
STR | October 21, 2021
HENDERSONVILLE, Tennessee — October 21, 2021 — U.S. hotel occupancy reached its highest level since mid-August, while room rates dipped from the previous week, according to STR‘s latest data through 16 October. 10-16 October 2021 (percentage change from comparable week in 2019*): Occupancy: 65.0% (-10.0%) Average daily rate (ADR): US$134.03 (-1.4%) Revenue per available room (RevPAR): US$87.15 (-11.3%) Week-over-week demand growth came almost exclusively from the Sunday ahead of Columbus Day. Overall for the 3-day holiday weekend (8-10 October), occupancy reached 72% as compared with 75% in 2019. ...
STR: U.S. Hotel Performance for September 2021
STR | October 19, 2021
HENDERSONVILLE, Tennessee — October 19, 2021 — The U.S. hotel industry reported lower performance from the month prior, according to September 2021 data from STR. September 2021 (percentage change from September 2019): Occupancy: 61.6% (-8.2%) Average daily rate (ADR): US$133.11 (+1.0%) Revenue per available room (RevPAR): US$82.04 (-7.3%) Among the Top 25 Markets, Denver experienced the highest occupancy level (71.4%), which was still down 12.0% from the market’s 2019 benchmark. None of the Top 25 Markets saw an occupancy increase over 2019. Markets with the lowest occupancy for the month in...
Brazil Hotels Recovering ADR Much Faster Than Occupancy
STR | October 18, 2021
After a difficult winter, Brazil’s hotel occupancy is once again on the rise, reaching 44% in August 2021, or about 74% of the 2019 comparable. While occupancy recovery has been slow, the country’s rebound in average daily rate (ADR) has been strong, with monthly rates even exceeding 2019 levels earlier this year. August ADR reached BRL295.05, which was just 3.4% below 2019, as shifts in demand and supply have helped drive impressive ADR performance. Domestic demand With international travel difficult at best, impossible at worst, Brazil’s hoteliers have relied almost entirely on domestic demand. This has led to strong p...
STR: U.S. Hotel Results for Week Ending 9 October
STR | October 14, 2021
HENDERSONVILLE, Tennessee — October 14, 2021 — Lifted by the long Columbus Day weekend, U.S. hotel performance rose to a level similar to late-summer, according to STR‘s latest data through 9 October. 3-9 October 2021 (percentage change from comparable week in 2019*): Occupancy: 63.9% (-9.6%) Average daily rate (ADR): US$134.63 (+2.4%) Revenue per available room (RevPAR): US$86.02 (-7.4%) The occupancy level was the highest since the week ending 14 August, while ADR came in higher than every week since the one ending 21 August. While none of the Top 25 Markets recorded an occupancy increase ov...
London’s Outlook: An Analysis by Hotel Class
STR | October 11, 2021
When booking a hotel room, guests are considering more factors than ever in deciding which property to call home in their destination. One of the many considerations is price, and by extension hotel class, which leads us to this latest analysis of occupancy on the books in London. Examining future occupancy levels by class allows for a better understanding of the traveler booking rationale for the upcoming months. Merry Christmas and not such a Happy New Year The short-term outlook for London is positive as summer ends and the industry transitions into the typically slower autumn and winter months. Leading bookings in the short-term are...
A Brighter Future for Colombia?
STR | October 11, 2021
Colombia’s accelerated vaccination rollout and lessened restrictions on eligibility pushed the country’s vaccination rate to 32.1% as of 22 September, according to Our World in Data. Is that growing vaccination rate helping improve hotel performance in this key South American country? The answer would seem to be, yes, but to a lesser extent for some areas of the country. As noted in one of our first articles regarding the early stages of Colombia’s recovery, the country’s hotel performance has been closely tied to the pandemic timeline. Most recently in August, Colombia’s hotel occupancy reached 48.8%, which was 76.9% of the 20...
Rising Costs, Staffing Shortages and Multi-Speed Recovery Play Havoc With the UK Hotel Sector
HVS | October 7, 2021
06 September 2021, London: Resetting the hotel balance sheet to be fit for recovery was the theme of the latest conference organised by global hotel consultancy HVS, legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners. Addressing both in-person and online delegates yesterday [5th October 2021) Graeme Smith, EMEA head of hospitality & leisure at AlixPartners considered the support received by hotels from lenders, resulting in limited restructuring activity, despite disruption that the pandemic caused. “There are now a number of different lenders, the landscape ...
STR: U.S. Hotel Results for Week Ending 2 October
STR | October 7, 2021
HENDERSONVILLE, Tennessee — October 7, 2021 — U.S. hotel performance dipped from the previous week, according to STR‘s latest data through 2 October. 26 September through 2 October 2021 (percentage change from comparable week in 2019*): Occupancy: 61.7% (-9.2%) Average daily rate (ADR): US$130.87 (+1.2%) Revenue per available room (RevPAR): US$80.78 (-8.2%) Among the Top 25 Markets, Phoenix recorded the only occupancy increase over 2019 (+1.8% to 66.0%). The market also recorded the largest RevPAR gain when compared with 2019 (+15.2% to US$88.82). Oahu Island experienced the steepest occupa...
2022 Hospitality Industry Forecast
Robert Rauch | October 7, 2021
By Bob Rauch Note: last month, we started using a debate platform to ask readers about their thoughts on a subject, so we ask this question above that can be answered from the sided.co debate platform. 2022 – A Magical Year or More Misery? That’s easy – our hospitality forecast says the bumpy ride is coming to an end. We should assume 6 more months; October through March might remain uneven or bumpy. Why? Because business travel is not back and group business is just starting to book going forward. International travel will likely return in April, 2022 when we should be back to 2019 numbers. The 2022 hospitality forec...
Knowland Reports Continued Double-Digit Growth as Group Demand Returns
Knowland | October 6, 2021
U.S. Meetings and Events Volume Up 17.2 Percent for September 2021 ARLINGTON, Va. — Oct. 6, 2021— Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for September. The numbers reveal that September U.S. group meetings volume increased 17.2 percent over August 2021. Double-digit growth continues as group demand returns. New metric levels are emerging which may be a result of short-term adjustments during this transitional period or the signaling of a reset of industry KPIs. • Average attendees hit highest number since ...
Caribbean Hotel Update: Two Markets Showing High Levels of Occupancy Recovery
STR | October 5, 2021
The summer travel season, helped by growing vaccination rates around the world, allowed Caribbean hotels to pick up steam in their road to recovery. Regardless of world region, the markets that truly stand out are those with favorable comparisons to 2019—the last “normal year” prior to the pandemic. In the Caribbean, we have been comparing 2021 vs. 2019 data for year-to-date periods to remove the effects of seasonality, which are usually substantial in the region. As of August, we saw two of 14 markets with hotel occupancy near or above the 2019 comparable. The only Caribbean market to achieve an August year-to-date occupancy leve...
Europe’s Key Hotel Markets Show Improved Profitability but Remain Well Below Pre-Pandemic Levels
STR | October 4, 2021
LONDON — October 4, 2021 — The hotel industries in Amsterdam, Berlin, London, Moscow and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to STR‘s August 2021 monthly P&L data release. Building on its launch in the U.S., STR now features monthly P&L data reporting in Europe, the Middle East, Asia Pacific, and the Americas (excluding U.S.). Using U.S. dollar constant currency, August was the first month of the pandemic-era in which all five of these key European markets posted positive levels of gross operating profit per available room (GOPPAR). Moscow, which had reach...
STR: Glasgow Hotel Occupancy Nearing 90% for Upcoming UN Climate Change Conference
STR | September 30, 2021
LONDON, UK — September 30, 2021 — Glasgow’s hotel occupancy on the books is nearing 90% for the UN Climate Change Conference in early November, according to data from Forward STAR, STR’s forward-looking benchmarking solution. “As vaccination rates have risen, and international travel restrictions have eased, confidence has grown around major in-person events,” said Robin Rossmann, STR’s managing director. “The dates around the UN conference have stood out in our forward-looking data for quite some time, and levels have improved as we’ve drawn closer to the event with an improving pandemic situation. Provided there are no ...
STR: U.S. Hotel Results for Week Ending 25 September
STR | September 30, 2021
HENDERSONVILLE, Tennessee — September 20, 2021 — U.S. hotel occupancy remained relatively flat week over week, while average daily rate rose, according to STR‘s latest data through 25 September. 19-25 September 2021 (percentage change from comparable week in 2019*): Occupancy: 63.2% (-11.0%) Average daily rate (ADR): US$133.69 (-2.0%) Revenue per available room (RevPAR): US$84.54 (-12.8%) A week after eclipsing 1 million for the first time since the earliest days of the pandemic, group demand rose again to almost 1.3 million for the week. At the same time, group ADR moved past US$200 for the first time since February 20...
