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
Little Change in the European Hotel Construction Pipeline Year-Over-Year
Lodging Econometrics | August 16, 2021
PORTSMOUTH, NH – August 16, 2021 – According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), research analysts report that at the close of the second quarter of 2021, Europe’s hotel construction pipeline dropped 1% by projects and increased 1% by rooms year-over-year (YOY) and ended the quarter with 1,841 projects and 296,843 rooms. Projects under construction are up 1%, YOY, standing at 934 projects/ 152,549 rooms. Projects scheduled to start construction in the next 12 months saw a small decrease last quarter, closing at 466 projects/73,739. Projects in the early planning stage dropped ...
China’s Hotel Construction Pipeline Continues Upward Trend Through the Second Quarter
Lodging Econometrics | August 16, 2021
PORTSMOUTH, NH – August 16, 2021 – According to analysts at Lodging Econometrics (LE), the total China construction pipeline stands at 3,454 projects/661,043 rooms. At the end of the second quarter, the 2021 construction pipeline is up 2% by rooms year-over-year (YOY) and just below the region’s all-time high project count of 3,574 projects/647,704 rooms set in the second quarter of 2020. This is the fourth consecutive quarter China’s pipeline has increased. China currently has 2,401 projects/437,731 rooms under construction, up 5% by projects and 7% by rooms YOY, while projects scheduled to start construction in the next 12 months...
STR: Preliminary July Data for Sydney Hotels
STR | August 13, 2021
LONDON — August 13, 2021 — Reflecting the ongoing impact of the latest lockdowns, Sydney hotels showed significantly lower performance across the three key performance metrics, according to preliminary July 2021 data from STR. Occupancy: 18.7% Average daily rate (ADR): AUD147.08 Revenue per available room (RevPAR): AUD27.44 The absolute occupancy level was the lowest for any month in STR’s Sydney database while ADR was the lowest since April 2020. That occupancy level is concentrated to returning travelers who are completing their 14-day quarantine. STR’s latest Forward STAR data shows Sydney with lower occupa...
STR: Preliminary July Data for Berlin Hotels
STR | August 13, 2021
LONDON — August 13, 2021 — STR’s preliminary July 2021 data shows Berlin with its highest performance levels since the start of the pandemic. Occupancy: 48.5% Average daily rate (ADR): EUR75.80 Revenue per available room (RevPAR): EUR36.76 The absolute occupancy and RevPAR levels were the highest for any month in Berlin since February 2020, while the ADR level was the highest since October 2020. All of STR’s COVID-19 analysis can be found here....
STR: U.S. Hotel Results for Week Ending 7 August
STR | August 12, 2021
HENDERSONVILLE, Tennessee — August 12, 2021 — Reflecting seasonality and greater concern around the Delta variant, U.S. hotel occupancy and average daily rate (ADR) dipped from the previous weeks, according to STR‘s latest data through 7 August. 1-7 August 2021 (percentage change from comparable week in 2019*): Occupancy: 68.0% (-8.3%) Average daily rate (ADR): US$140.97 (+5.1%) Revenue per available room (RevPAR): US$95.89 (-3.6%) Among the Top 25 Markets, Houston saw the highest occupancy increase over 2019 (+4.3% to 62.5%). San Francisco/San Mateo experienced the steepest decline in occupancy when...
Canadian Lodging Outlook Quarterly 2021-Q2
HVS | August 12, 2021
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 tea...
Asia Pacific’s Construction Pipeline, Excluding China, Experiences Slight Decline in Q2’21
Lodging Econometrics | August 12, 2021
PORTSMOUTH, NH – August 12, 2021 – According to the recent Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the region’s total construction pipeline dropped to 1,701 projects/364,487 rooms, down 11% by projects and 10% by rooms, year-over-year (YOY). At the end of the second quarter, the region has 852 projects with 195,940 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 390 projects/73,447 rooms and projects in the early planning stage stand at 459 projects/95,100 rooms. Countries in the Asia Pacific region continue to face the o...
China Hotel Performance Update
STR | August 10, 2021
All key markets in China showed June 2021 increases in hotel occupancy and average daily rate (ADR) compared to the same period last year, except for Guangzhou and Shenzhen. Guangzhou occupancy dropped to 27.6%, which was the market’s lowest level of the last 15 months. Thus, RevPAR dropped 50.5% year over year, which was 71.1% lower compared with June 2019. Because of the severe pandemic impact on performance data, STR is using 2019 as the industry’s recovery benchmark. Occupancy exceeded 65% in markets such as Shanghai, Chendu, Xi’an and Sanya. Wuhan showed the highest RevPAR increase – from CNY77.6 in June 2019 to CNY2...
The Latin America Hotel Construction Pipeline Continues to Regress in Q2’21
Lodging Econometrics | August 9, 2021
PORTSMOUTH, NH – August 9, 2021 – Analysts at Lodging Econometrics (LE) state in the Q2'21 Latin America Hotel Construction Pipeline Trend Report, that the total construction pipeline stands at 586 projects/103,011 rooms, down 14% by projects and 13% rooms, year-over-year (YOY). This is the lowest number of projects in the Latin America construction pipeline since the first quarter of 2012. In the first half of the year, 47 projects/11,657 rooms began construction in the region. New projects announced into the pipeline during the first two quarters of 2021 are down 61% YOY with only 53 projects/9,537 rooms compared to the 87 projects/...
Raleigh to Experience a 9% Increase in Hotel Room Supply Over the Next 12 Months
Hotel Market Data | August 9, 2021
BuildCentral’s Hotel Market Data (HMD) Index indicates over 1,600 new hotel rooms under construction to become available in the Raleigh region by the end of Q3 2022. Chicago, IL – August 9, 2021 – Raleigh, North Carolina anticipates a 9.18% increase in the supply of hotel rooms by the end of the third quarter of 2022. The total supply will increase from the 18,474 currently available to over 20,169 available rooms as 6 hotels are slated to open in the Raleigh region over the next 12 months. According to the HMD Index, which provides real-time room supply and construction pipeline data for the US hotel industry, the supply ...
STR: U.S. Hotel Results for Week Ending 31 July
STR | August 5, 2021
HENDERSONVILLE, Tennessee — August 5, 2021 — U.S. weekly hotel occupancy dipped from the previous week, while room rates were up slightly, according to STR‘s latest data through 31 July. 25-31 July 2021 (percentage change from comparable week in 2019*): Occupancy: 70.1% (-6.2%) Average daily rate (ADR): US$142.76 (+6.8%) Revenue per available room (RevPAR): US$100.07 (+0.1%) ADR remained at an all-time high on a nominal basis but not when adjusted for inflation (US$135). Among the Top 25 Markets, Norfolk/Virginia Beach saw the highest occupancy increase over 2019 (+2.2% to 82.5%). San Francisco/San...
Knowland Reports U.S. Meetings and Events Volume Growth of 42.1 Percent for July 2021
KNOWLAND | August 5, 2021
Major meeting markets of Chicago, Orlando and Washington DC show top meeting growth indicating the start of the rebound for flagship event cities ARLINGTON, Va. — August 5, 2021 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released monthly meetings and events data for July. The numbers reveal that July U.S. group meetings volume increased 42.1 percent over June 2021. The average number of attendees per event continues with growth patterns exceeding the same time frame in 2019. Each month this number has increased as people become more comfortable meeting in larg...
Chengdu Hotel Market Performance Recovery
STR | August 4, 2021
In 2020, Chengdu's hospitality industry accounted for 65.7% of GDP, contributing 52.2% to the city's economic growth and significantly increasing its contribution to the development of energy levels and economies. In 2021, with the stabilization and control of the pandemic, and the steady recovery of the economy, the performance of Chengdu hotels has gradually reached 2019 levels. Resilience of major urban markets The development of cities is inseparable from the synergy of urban agglomerations. Since April 2021, the resilient Sichuan-Chongqing region has continued to lead hotel performance recovery in the country, reaching...
The Boston & Cambridge Lodging Market’s Recovery Projected to Accelerate Into 2022
Sebastian J. Colella | August 4, 2021
By Sebastian J. Colella Despite uncertainties surrounding corporate travel and the return to the office, as well as the Delta variant and the potential for mask mandates and other state or federal restrictions, the Boston & Cambridge lodging market continues to climb a wall of worry. Driven primarily by domestic leisure travel, the market has experienced strong month-over-month gains in demand and average daily rate (ADR) since March. Although the market has experienced considerable gains the last three months it still lags the United States as a whole and almost every other top-25 market in recovering to pre-pandemic levels. Th...
Canada’s Hotel Construction Pipeline Drops Slightly Year-Over-Year
Lodging Econometrics | August 4, 2021
PORTSMOUTH, NH – August 4, 2021 – At the close of the second quarter, analysts at Lodging Econometrics (LE) report that the total construction pipeline in Canada stands at 253 projects/33,240 rooms, down 43 projects or 15% by projects year-over-year (YOY). While several pandemic waves have slowed Canada's economic growth in the first half of 2021, the country’s finance department predicts the economy will pick up in the third quarter. As more Canadians become fully vaccinated, more regions have reopened or are considering reopening. Currently, about two-thirds of Canadians are fully or partially vaccinated. As restrictions continue e...
U.S. Hotel Profit Reached 84% of 2019 Level, Labor Rises Slightly
STR | August 2, 2021
BROOMFIELD, Colorado — Gross operating profit for U.S. hotels improved to 84% of the comparable 2019 level, according to STR‘s June 2021 monthly P&L data release. Labor costs also rose from the previous month and in comparison with 2019. Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February 2020, while labor was at its highest level since March 2020. GOPPAR: US$50.67 TRevPAR: US$131.81 EBITDA PAR: US$33.10 LPAR (Labor Costs): US$37.39 “After the industry recorded its highest top-line metrics since October 2019, it is no surp...
STR: Beach Destinations Leading Hotel Performance in Latin America
STR | August 2, 2021
BOGOTA — August 2, 2021 — Latin America’s popular leisure markets, especially beach destinations, have continued to post hotel occupancy levels above 40%, according to data from STR through 25 July. As demand remains predominantly domestic leisure-driven, markets reliant on that segment are leading hotel performance in the region. During 19-25 July, Cartagena posted the region’s highest occupancy at 60.4%. The market’s weekly occupancy reached as high as 71.6% in 2021 (week ending 4 April). Among other STR-defined markets, Costa Rica Regional came in second during the week ending 25 July, at 58.2%, while Rio de Janeiro exp...
STR: U.S. Hotel Results for Week Ending 24 July
STR | July 29, 2021
HENDERSONVILLE, Tennessee — July 29, 2021 — U.S. weekly hotel occupancy reached its highest level since October 2019, while room rates hit an all-time high, according to STR‘s latest data through 24 July. 18-24 July 2021 (percentage change from comparable week in 2019*): Occupancy: 71.4% (-7.8%) Average daily rate (ADR): US$141.75 (+4.0%) Revenue per available room (RevPAR): US$101.24 (-4.2%) Historically, the middle weeks of July are the country’s highest occupancy weeks each year, and 2021 has been no different even as demand slows week to week. ADR, while an all-time high on a nominal basis, ...
Marriott Has the Largest Construction Pipeline of U.S. Franchise Companies in Q2‘21 With 1,301 Projects
Lodging Econometrics (LE) | July 28, 2021
PORTSMOUTH, NH – July 28, 2021 – In the second quarter of 2021, analysts at Lodging Econometrics (LE) report that the top franchise companies with the largest construction pipelines are: Marriott International with 1,301 projects/170,847 rooms, Hilton Worldwide with 1,216 projects/139,172 rooms, and InterContinental Hotels Group (IHG) with 777 projects/78,929 rooms. Development projects with these three franchise companies comprise 69% of all projects in the total construction pipeline. The largest brands for each of these companies are Marriott’s Fairfield Inn with 257 projects/25,051 rooms, Hilton’s Home2 Suites by Hilton, with 3...
Peak Summer RevPAR Near or Better Than 2019 for Most States
STR | July 27, 2021
With the U.S. in peak summer travel season, STR’s latest data through 17 July shows most states with solid gains in revenue per available rooms (RevPAR) on a total-room-inventory (TRI) basis. Over the past four weeks, all but nine markets averaged TRI RevPAR within $10 dollars (actual) of their comparable level from 2019. To further highlight the scale of recovery, 22 markets surpassed their 4-week RevPAR from 2019. As a reminder, STR is using 2019 as the recovery benchmark due to the severe pandemic impact on 2020 data. Indexed comparisons are being made with the same time periods in 2019—an index is simply a ratio that divides cur...
London Short-Term Rentals Show Lower Performance Levels in June
STR | July 27, 2021
LONDON — July 27, 2021 — London’s short-term rental industry recorded slightly lower performance levels from the previous month, according to June 2021 data from STR. June occupancy for the sector was 61.9%, which represented a 2.7% decrease from May (63.6%). Short-term rental occupancy was significantly higher than the 40.6% recorded by hotels in London. Hotel occupancy, however, was up 32.4% month over month. Short-term rental average daily rate (ADR) reached GBP118.86, a 6.7% decline from May (GBP127.41). Revenue per available room (RevPAR) for the sector fell 9.2% to GBP73.63. STR, the leader in global hospitality benchmark...
Nashville Short-Term Rentals Posted Highest Overall Performance in 19 Months
STR | July 27, 2021
HENDERSONVILLE, Tennessee — July 27, 2021 — Nashville’s short-term rental industry posted 19-month highs in average daily rate (ADR) and revenue per available room (RevPAR), according to June 2021 data from STR. June 2021 (percentage change from May): Occupancy: 71.9% (+12.7%) ADR: US$209.64 (+0.7%) RevPAR: US$150.76 (+13.5%) In addition to the market’s highest ADR and RevPAR levels since November 2019, Nashville’s short-term rental occupancy was its second best in that span. Hotel occupancy in the market was only slightly lower in comparison, at 70.1%, which was a 14.3% jump month over month. Building ...
New York Leads the U.S. Hotel Construction Pipeline at the Close of Q2‘21
Lodging Econometrics | July 27, 2021
PORTSMOUTH, NH – July 27, 2021 – According to Lodging Econometrics’ (LE) most recent construction pipeline trend report, at the close of the second quarter, the top five markets with the largest hotel construction pipelines are New York City, with 146 projects/25,232 rooms; Los Angeles with 135 projects/22,586 rooms; Dallas with 132 projects/16,183 rooms; Atlanta with 129 projects/17,845 rooms; and Nashville with 91 projects/12,703 rooms. The five top markets with the most projects currently under construction are New York City with 111 projects/19,582 rooms, Atlanta with 39 projects/5,795 rooms, Los Angeles with 34 projects/5,771 ro...
COVID-19’s Impact on the Raleigh Hotel Market
Janet Snyder | July 26, 2021
By Janet Snyder Prior to the onset of the COVID-19 pandemic, Raleigh was growing rapidly given its high quality of life and status as the state capital of North Carolina. The city has attracted large national and multinational corporations, such as Duke Energy, Citrix, Red Hat, Amazon, IBM, Accenture, and PNC. Downtown Raleigh experienced tremendous growth in recent years, with approximately $1.3 billion in developments from 2015 to 2020. The area has also historically been known for its major academic and healthcare institutions, including Duke University, the University of North Carolina at Chapel Hill, North Carolina State Uni...
