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
Global Economy Could Lose Over $4 Trillion Due to Covid-19 Impact on Tourism
UNWTO | June 30, 2021
Economic losses are mounting in developing countries due to the absence of widespread COVID-19 vaccinations. The crash in international tourism due to the coronavirus pandemic could cause a loss of more than $4 trillion to the global GDP for the years 2020 and 2021, according to an UNCTAD report published on 30 June. The estimated loss has been caused by the pandemic’s direct impact on tourism and its ripple effect on other sectors closely linked to it. The report, jointly presented with the UN World Tourism Organization (UNWTO), says international tourism and its closely linked sectors suffered an estimated loss of $2.4 trillion i...
Amadeus Data Alert: Independence Day Holiday Travel Looks to Be a Sparkler Based on Hotel Occupancy in Top US Destinations
Amadeus | June 28, 2021
Summer is underway and US travelers are ready to celebrate the Independence Day holiday weekend. As vaccination numbers increase and COVID restrictions have eased or lifted in many states, hotel stays are being booked further in advance of any holiday since the beginning of COVID-19. Amadeus, a global leader in travel technology, with its unique ability to track forward-looking, on-the-books hotel occupancy in major markets around the world, cites the leading markets for Independence Day holiday travel. All of the top 10 markets are over 68% occupancy two weeks prior to the holiday. Current overall US occupancy leading up to the holiday is...
U.S. Market Recovery Monitor – 19 June 2021
STR | June 25, 2021
Are you tracking the Market Recovery Monitor each week? Utilizing data and benchmarking to navigate recovery will be a key focus of the 2021 Hotel Data Conference. Click here for registration, with both in-person and virtual options available for our 13th annual event in Nashville. Previous MRM versions: 5 June | 12 June The “summer travel surge” continued this past week as U.S. hotel occupancy hit an 85-week high at 68.0% for the week ending 19 June 2021. That is the country’s highest level since the week ending 9 November 2019. The turnaround in occupancy is above expectations. Recall, at the start of the year, occupancy wa...
U.S. Hotel Occupancy Hits Highest Level in 85 Weeks
STR | June 24, 2021
HENDERSONVILLE, Tennessee — June 24, 2021 — U.S. weekly hotel occupancy hit its highest level in 85 weeks, according to STR‘s latest data through 19 June. 13-19 June 2021 (percentage change from comparable week in 2019*): Occupancy: 68.0% (-9.9%) Average daily rate (ADR): US$128.90 (-4.4%) Revenue per available room (RevPAR): US$87.62 (-13.8%) In addition to occupancy reaching its highest point since the week ending 9 November 2019, ADR and RevPAR were pandemic-era highs. Among the Top 25 Markets, Tampa saw the only occupancy increase over 2019 (+1.2% to 77.5%). San Francisco/Sa...
STR: Canada Hotel Performance for May 2021
STR | June 24, 2021
HENDERSONVILLE, Tennessee — June 24, 2021 — Canada’s hotel industry reported slightly lower performance from the previous month, according to STR’s May 2021 data. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained well below the pre-pandemic comparable of May 2019: Occupancy: 28.1% (-58.6%) Average daily rate (ADR): CAD113.40 (-32.0%) Revenue per available room (RevPAR): CAD31.87 (-71.9%) “Despite subdued performance in May due to continued travel restrictions and lockdown measures, Re...
Majority of U.S. Now Within 10% of 2019 Hotel Demand
STR | June 22, 2021
The last four weeks (ending Saturday, 12 June) continued to show a solid return to normalcy as we compare 2021 state-level weekly room demand against the comparable levels from 2019. As a reminder, STR currently benchmarks recent performance against 2019 performance levels rather than a pandemic impacted 2020. Twenty-six (26) states showed demand totals within a 10% margin of the corresponding period of 2019. Collectively, eight of those states actually sold more rooms for the 4-week period than they did 2019. Demand gains are widespread and, so far in 2021, most states (28) have had at least one week that surpassed a comparable week from ...
Short-Term Rentals Record Higher Occupancy in May
STR | June 21, 2021
HENDERSONVILLE, Tennessee — June 21, 2021 — Short-term rentals in Miami, Nashville and Philadelphia recorded month-to-month increases in occupancy, according to May 2021 data from STR. The occupancy levels continued to be higher than those reported by hotels in each market. Building on STR’s world-leading hotel performance database, Miami, Nashville and Philadelphia are the first three U.S. markets where the company has expanded its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multifamily and single-family short-term rentals. May 2021 short-term rental performance, perce...
London Short-Term Rentals Reach Early 2020 Performance Levels
STR | June 21, 2021
LONDON — June 21, 2021 — London’s short-term rental industry recorded its highest monthly occupancy and revenue per available room (RevPAR) since February 2020, according to May 2021 data from STR. May occupancy for the sector was 64.1%, which represented a 12.5% increase from April (57.0%) and the highest level in the market since February 2020 (65.1%). Short-term rental occupancy was significantly higher than the 31.0% recorded by hotels in London. Average daily rate (ADR) reached GBP111.50, a 16.5% jump over April (GBP95.74). The ADR level was the highest since March 2020 (GBP122.71). RevPAR for the sector rose 30.9% to GBP71.4...
STR: U.S. Hotel Performance for May 2021 Shows Highest Levels Since Before Pandemic
STR | June 21, 2021
HENDERSONVILLE, Tennessee—The U.S. hotel industry recorded its highest monthly performance levels since before the beginning of the pandemic, according to May 2021 data from STR. May 2021: Occupancy: 59.3% Average daily rate (ADR): US$117.69 Revenue per available room (RevPAR): US$69.81 Each of the three key performance metrics were the highest for any month since February 2020. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained well below the pre-pandemic comparable of May 2019: occupancy (-13.5%), A...
U.S. Hotel Occupancy Reached Highest Weekly Level Since Early November 2019
STR | June 17, 2021
HENDERSONVILLE, Tennessee — June 17, 2021 — U.S. hotel occupancy reached its highest weekly level since early November 2019, according to STR‘s latest data through 12 June. 6-12 June 2021 (percentage change from comparable week in 2019*): Occupancy: 66.0% (-10.3%) Average daily rate (ADR): US$125.16 (-7.0%) Revenue per available room (RevPAR): US$82.65 (-16.6%) While weekday occupancy was still down double digits from the corresponding days in 2019, weekend occupancy was 0.2% (Friday) and 3.2% (Saturday) higher than the 2019 comparables. On a total-room-inventory basis, which includes those hotels te...
No Crowds at Tokyo 2020 Would Be Catastrophic for Japan’s Tourism Sector, Says GlobalData
GlobalData | June 16, 2021
With the jury still out on whether domestic spectators will be allowed at Tokyo 2020, the prospect of a complete ban on attendance cannot be dismissed. This scenario would be disastrous for several tourism-related industries in Japan says GlobalData, a leading data and analytics company. Ralph Hollister, Travel and Tourism Analyst at GlobalData, comments: “The prospect of no attendance would take things from bad to worse for Japanese businesses involved in the tourism sector. The wait for the announcement on spectatorship with be agonizing for all businesses involved, as domestic attendance would at least allow for the recoupin...
HVS Market Pulse – South Dallas, Texas
Niraj Bhavsar | June 14, 2021
By Niraj Bhavsar, Kathleen Donahue The industrial sector is a key player within southern Dallas County and northern Ellis County, which are part of the Best Southwest Partnership. A vast network of roads in the greater Metroplex provide direct access to other parts of the region and country. South Dallas is home to the International Inland Port of Dallas (IIPOD), an intermodal and logistics district that encompasses 7,500 acres and five municipalities. This area hosts over 17,000 workers, and major manufacturing tenants include American Textile Company, Pioneer Frozen Foods, Niagara Bottling, and Serta Dormae. Corporations with logi...
HVS Market Pulse Update, Charleston, SC
Heidi Nielsen | June 11, 2021
By Heidi Nielsen, Rod Clough Rod Clough, President – Americas, interviewed Heidi Nielsen, Managing Director, Charleston overseeing the Carolinas and Coastal Georgia, on June 10, 2021, to discuss the current Charleston market dynamics and the outlook for recovery. Heidi outlines what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. She provides the forecast of occupancy and average rate for Charleston, as well. This nine-minute video provides important insights and factors to consider for those currently invested or considering investing in t...
Market Snapshot: Asia Pacific 2021
Hok Yean CHEE | June 11, 2021
By Hok Yean CHEE Transactions in the Asia Pacific In 2020, transaction activity in the Asia Pacific took a hit from the new high in 2019, achieving a transaction volume of approximately US $8.6 billion worth of hospitality assets, indicating a 41.8% decline year on year. Similarly, from 2Q 2020 to 1Q 2021, transaction activity in the Asia Pacific has continued to slow down. Despite the slow-moving transaction activity, growing interest in hospitality assets continues to be observed in regions such as Australia & New Zealand, China, Japan, South Korea, Taiwan, and certain markets in the South-East Asia regions. The slowdown is mai...
Deal-Making Activity in the Travel & Tourism Sector Declined by 25.4% During May 2021, Finds GlobalData
GlobalData | June 11, 2021
A total of 53 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing) were announced in the global travel and tourism sector during May, which is a decline of 25.4% over 71 deals announced in April, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “May marks the second month of decline in deal activity for the travel & tourism sector after rebounding in March. Considering the spike in COVID-19 cases, it might take a few months to reverse the trend.” The announcement of venture financing and M&A deals decreased by 52.9%...
WTTC Research Reveals Travel & Tourism Sector’S Contribution to Japan’s GDP Dropped by $138 Billion in 2020
WTTC | June 10, 2021
London, UK - June 10, 2021 - The World Travel & Tourism Council’s annual Economic Impact Report (EIR) today reveals the dramatic impact COVID-19 had on Japan’s Travel & Tourism sector, wiping out $138 billion from the nation’s economy. The annual EIR from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, shows the sector’s contribution to GDP dropped a staggering 37%. The Travel & Tourism sector’s impact on the nation’s GDP fell from USD$ 373.0 billion (7.1%) in 2019, to USD$ 234.9 billion (4.7%), just 12 months later, in 2020. The year of damag...
India Hotel Occupancy on a Continued Decline Amid Second COVID-19 Wave
STR | June 10, 2021
LONDON — June 10, 2021 — After an improved start to 2021, India’s hotel occupancy has been on a rapid decline amid the second COVID-19 wave in the country, according to data from STR. India’s monthly occupancy reached a pandemic high in February (53.9%), which looked to be solid progress toward recovery as the monthly level was roughly 73% of the 2019 comparable. By April, however, occupancy in the country fell to 31.0%, and more recently, just 21.5% for the week ending 30 May. “We saw India’s resilience as an emerging market play out over the early portion of 2021,” said Vidhi Godiawala, STR’s business development mana...
STR: U.S. Hotel Results for Week Ending 5 June
STR | June 10, 2021
HENDERSONVILLE, Tennessee — June 10, 2021 — U.S. weekly hotel performance remained relatively flat from the previous week but still reached pandemic-era highs, according to STR‘s latest data through 5 June. 30 May through 5 June 2021 (percentage change from comparable week in 2019*): Occupancy: 61.9% (-14.0%) Average daily rate (ADR): US$123.49 (-6.7%) Revenue per available room (RevPAR): US$76.44 (-19.7%) Each of the three key performance metrics were the highest of the pandemic era. Among the Top 25 Markets, Miami saw the largest increases over 2019 across each of the three key p...
U.S. Meetings and Events Volume Shows Double Digit Growth for Fourth Consecutive Month According to Knowland
Knowland | June 9, 2021
May group data shows a 28.4 percent monthly increase in meetings and number of attendees have reached 2019 levels ARLINGTON, Va. — June 9, 2021— Knowland, the leader in AI-powered meetings and events data for hotels, convention and visitor bureaus, conference centers and other venues, today released its monthly meetings and events data for May. The numbers reveal that May U.S. group meetings volume increased 28.4 percentover last month. We continue to see metric improvement as average attendees aligns with 2019 levels and meeting space used comes within 10% of 2019 values. Throughout the summer, we forecast higher attendees and lowe...
Baird/STR Hotel Stock Index Dipped 2.8% in May
STR | June 8, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dipped 2.8% in May to a level of 5,148. Year to date through the first five months of 2021, the stock index was up 12.6%. “Hotel stocks declined in May and underperformed their respective benchmarks for the third consecutive month,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The broader reopening trade continues to lose momentum despite hotel fundamentals that continue to improve on a sequential basis, which is being driven by strong leisure demand. The return of the business traveler later this year is our key area of fo...
STR: U.S. Hotel Results for Week Ending 29 May
STR | June 7, 2021
HENDERSONVILLE, Tennessee — June 7, 2021 — Boosted by the Friday and Saturday of Memorial Day weekend, U.S. weekly hotel occupancy reached its highest level since late-February 2020, according to STR‘s latest data through 29 May. 23-29 May 2021 (percentage change from comparable week in 2019*): Occupancy: 61.8% (-4.2%) Average daily rate (ADR): US$122.06 (-1.6%) Revenue per available room (RevPAR): US$75.42 (-5.7%) Percentage changes were skewed more to the positive because the 2019 comparable was the week after Memorial Day. Regardless, this past Saturday’s 83.0% occupancy level was the country’...
Targeting Hotel Staycation Demand in Canada and Beyond
Sarah Schehade | June 3, 2021
By Sarah Schehade, Luc Espaillard, Monique Rosszell When the pandemic caused traditional sources of hotel demand to collapse, Staycation demand took on a new prominence as one of the few remaining sources of leisure demand available. Hoteliers that had never courted Staycation demand in the past were left scrambling to put together packages and marketing plans with the hope of getting at least some heads in beds during this time of market meltdown. Hoteliers were thus confronted with a new problem: how does one build effective packages to develop a Staycation demand base from scratch? In the ensuing turmoil, many plans were implemented,...
China’s Hotel Construction Pipeline Ends Q1 2021 With 3,440 Projects/656,828 Rooms
Lodging Econometrics | June 2, 2021
PORTSMOUTH, NH – June 2, 2021 – According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline stands at 3,440 projects/656,828 rooms at the end of Q1‘21, down 3% by projects and up 2% by rooms year-over-year (YOY). While project counts may be down YOY, the total number of rooms in China’s Construction Pipeline reached a cyclical peak this quarter and is the highest it’s been in over twelve years. The lodging industry in China is steadily working towards recovery from the COVID-19 pandemic. The country has administered approximately 511 million vaccines, ...
At Q121 the Asia Pacific Construction Pipeline, Excluding China, Stands at 1,759 Projects/371,856 Rooms
Lodging Econometrics (LE) | June 1, 2021
June 1, 2021 – PORTSMOUTH, NH According to analysts at Lodging Econometrics (LE), the aAsia Pacific region construction pipeline, excluding China, ended the first quarter of 2021 at 1,759 projects/371,856 rooms, down 8% by both projects and rooms year-over-year (YOY). Throughout the region, countries are working to roll out vaccines as they continue the battle against COVID-19. As of May 23, the Maldives lead the region’s vaccine race with 29.24% of adult residents fully vaccinated. Singapore and Mongolia follow the Maldives, with just over 27% of each population reported as fully vaccinated. As more countries throughout the region...
