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
Baird/STR Hotel Stock Index Rose 5.0% in December, Ends Year Down 13.2%
Baird | January 8, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index was up 5.0% in December to a level of 4,574. For 2020 as a whole, the stock index fell 13.2%. “Hotel stocks continued their rebound in December as the positive vaccine and re-opening sentiment remained front and center for investors,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Despite the significant pandemic-related impact to hotel demand that occurred in 2020, hotel stocks performed relatively better than they did in 2011, 2015, and 2018, which demonstrates how forward-looking the stock market is today.” “Despite ...
UK Hotel Sector Needs Urgent Government Support, Says HVS
HVS | January 8, 2021
London, 8 January 2021: Insolvencies and job losses in the UK’s hotel sector caused by the pandemic are likely to increase through 2021 as businesses face a very tough year ahead, according to global hotel consultancy HVS. “While strong gains in top-line revenues when they come, will be cause for celebration, operating profits will be anaemic and less than half of 2019 levels in the Provinces and around a third of 2019 levels for London hotels. When fixed costs are then deducted many operations will be loss making and will experience negative cash-flow until further strong revenue gains can be made in H2 2021 and beyond,” says ...
Mexico: A Story of Steady Recovery
STR | January 7, 2021
Mexico’s hotel industry has been a rather unique case of linear performance recovery. While most countries have seen fluctuations in the metrics, Mexico has been on a steady ascent leading to a November that produced the country’s highest performance levels of the pandemic. The country’s beach destinations, always popular on the international and domestic tourist trails, have been key to that recovery as restrictions on international entry have been limited to the state-level. Timeline The first two months of 2020 produced performance levels much aligned with the comparable months of 2019. In March and April, however, the pande...
U.S. Hotel Occupancy Improves With New Year’s Travel Boost
STR | January 7, 2021
HENDERSONVILLE, Tennessee — 7 January 2021 — Thanks to a travel boost leading into the New Year’s holiday, U.S. weekly hotel occupancy improved noticeably from the previous week, according to STR‘s latest data through 2 January. 27 December 2020 through 2 January 2021 (percentage change from comparable week in 2019/2020): Occupancy: 40.6% (-17.2%) Average daily rate (ADR): US$107.93 (-21.5%) Revenue per available room (RevPAR): US$43.81 (-35.1%) Hotel demand jumped in week-over-comparisons while TSA checkpoint counts showed five days with more than 1 million passengers. Substantial hotel demand growth is not expected ...
Travel & Tourism Sector Witnessed 9% Decline in Deal Activity During December 2020
GlobalData | January 6, 2021
A total of 81 deals were announced in the global travel and tourism sector during December 2020, which is a decrease of 9% over 89 deals announced during the previous month, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector remains one of the worst affected industries due to the COVID-19 pandemic and now fears of second wave appear to be taking a toll on deal activity within the sector. After showcasing some improvement during October, deal activity in the sector plummeted in November and December.” The announcement of key deal types su...
U.S. Hotel Profitability Worsened in November
STR | January 5, 2021
BROOMFIELD, Colorado—U.S. hotel profitability fell back to levels seen during earlier months of the pandemic, and year-over-year declines worsened from the previous month, according to STR‘s November monthly P&L data release. In a year-over-year comparison with November 2019, the industry reported the following: GOPPAR: -97.5% to US$2.13 TRevPAR: -73.5% to US$60.92 EBITDA PAR: -120.2% to US$-12.30 LPAR (Labor Costs): -61.4% to US$31.32 The industry’s GOPPAR was the lowest since June (US$-5.89). “Profitability data fell in line with the November performance metrics we released earlier this month, as U.S....
Profit Plunge Has Global Hotel Industry Looking to Brighter 2021
HotStats | December 31, 2020
As a fresh round of stricter COVID-related guidelines grip many parts of the world heading into the new year, the hotel industry is still feeling and reeling from the sting of the pandemic, though breakthrough vaccines could be the antidote to spur devitalized demand. Still, like George Harrison once sang, “It's gonna take time… A whole lot of precious time... It's gonna take patience and time…” For many hoteliers, patience has run out. U.S. Backtracks After pulling into positive profit territory in October, on the heels of multiple months of negative GOPPAR, the U.S. relapsed in November, falling back into negative numbers a...
STR: U.S. Hotel Results for Week Ending 26 December
STR | December 31, 2020
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy fell to its lowest level since early May, according to STR‘s latest data for the week of Christmas. 20-26 December 2020 (percentage change from comparable week in 2019): Occupancy: 32.5% (-33.0%) Average daily rate (ADR): US$92.08 (-28.8%) Revenue per available room (RevPAR): US$29.94 (-52.3%) Aggregate data for the Top 25 Markets showed identical occupancy (32.5%) but higher ADR (US$94.36) than all other markets. Among the Top 25 Markets, Miami/Hialeah, Florida (47.5%) saw the highest occupancy level. Top 25 Markets with the lowest occupancy levels for th...
STR: Canada Hotel Results for Week Ending 26 December
STR | December 31, 2020
HENDERSONVILLE, Tennessee—STR data for 20-26 December 2020 showed Canada’s hotel industry with lower occupancy compared to the previous week. 20-26 December 2020 (percentage change from comparable week in 2019): Occupancy: 17.7% (-56.1%) Average daily rate (ADR): CAD113.18 (-30.5%) Revenue per available room (RevPAR): CAD20.01 (-69.5%) Occupancy for previous weeks came in at 23.5% (19 December), 24.6% (12 December), and 24.7% (5 December). For the week ending with 26 December, British Columbia recorded the highest occupancy level (22.4%) among the provinces. Among the major markets, Vancouver (24.5%) posted th...
China Much Closer to Recovering ADR Than Europe and the U.S.
STR | December 23, 2020
In April 2020, as part of the significant economic damage caused by COVID-19, hotel average daily rate (ADR) in China, Europe, and the United States dropped 40% below pre-pandemic levels. Since that point, rates in all three regions have improved, but hotels in China are much closer to reaching pre-pandemic ADR. Demand has steadily (and slowly) increased since April A deeper dive into the data reveals that growth in ADR is likely driven by parallel growth in demand. In China, for example, demand started to recover only a few months after its low point and has increased consistently since March. By September 2020, demand had ...
Increased Privacy and Flexibility to Characterize Lodging Industry in 2021
GlobalData | December 22, 2020
Increased privacy and flexibility are two of the stand-out trends that leading data and analytics company GlobalData notes will shape the lodging industry in 2021, alongside longer stays, improved hygiene procedures and more no-touch technology. As 2020 draws to a close, Travel & Tourism Analyst Ralph Hollister offers his view on these trends. Hollister notes: “Hotels that cannot provide more secluded spots or offer increased booking flexibility could be at risk of losing out even further in 2021. Rate plans to accommodate longer stays need to be offered, whilst the marketing of no-touch technology and incr...
STR: U.S. Hotel Performance for November 2020
STR | December 21, 2020
HENDERSONVILLE, Tennessee—The U.S. hotel industry showed lower performance from the month prior, according to November 2020 data from STR. November 2020 (percentage change from November 2019): Occupancy: 40.3% (-34.5%) Average daily rate (ADR): US$90.92 (-27.7%) Revenue per available room (RevPAR): US$36.67 (-52.6%) Each of the three key performance metrics declined from the previous month. Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest November occupancy level (22.6%), which represented a 72.4% decline in year-over-year comparisons. The market showed the highest ADR ($167.49), however, which was do...
STR: Canada Hotel Results for Week Ending 12 December
STR | December 17, 2020
17 December 2020, HENDERSONVILLE, Tennessee — STR data for 6-12 December 2020 showed Canada’s hotel industry with flat occupancy compared with the previous week. 6-12 December 2020 (percentage change from comparable week in 2019): Occupancy: 24.6% (-56.6%) Average daily rate (ADR): CAD106.23 (-27.9%) Revenue per available room (RevPAR): CAD26.13 (-68.7%) Occupancy for previous weeks came in at 24.7 (5 December), 25.7% (28 November), and 27.8% (21 November). For the week ending with 12 December, British Columbia recorded the highest occupancy level (28.2%) among the provinces. Among the major markets, Vancouver...
STR: U.S. Hotel Results for Week Ending 12 December
STR | December 17, 2020
17 December 2020, HENDERSONVILLE, Tennessee — U.S. weekly hotel occupancy remained relatively flat from the previous week, according to the latest data from STR through 12 December. 6-12 December 2020 (percentage change from comparable week in 2019): Occupancy: 37.8% (-37.4%) Average daily rate (ADR): US$85.88 (-31.7%) Revenue per available room (RevPAR): US$32.49 (-57.3%) Aggregate data for the Top 25 Markets showed lower occupancy (35.6%) but higher ADR (US$90.81) than all other markets. Among the Top 25 Markets, Tampa/St. Petersburg, Florida (47.6%) saw the highest occupancy level. Markets with the lowest occupa...
HVS Market Pulse: Wyoming & Montana
Katy Black | December 17, 2020
By Katy Black, Lauren Reynolds Travel certainly looked different in the United States for 2020. The limitation of international travel, the postponement of events and festivals, remote working, virtual learning, and the closure or strict capacity limitations at several attractions have steered travelers to seek the great outdoors, particularly in more remote locations. Thus, the scene in the late summer and early fall was far from desolate in the three major national parks in Wyoming and Montana; in fact, Yellowstone, Glacier, and Grand Teton National Parks experienced an increasing number of visitors through the end of the summer, wit...
COVID-19’s Impact on the Seattle Lodging Market
HVS | December 16, 2020
December 16, 2020 -- Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, Metro Seattle occupancy fell roughly seven points from 68.1% in 2008 to 61.6% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 74% to 37%, reflecting a 50-point correction. Average rate declined from $127 in 2008 to $112 in 2009, an 11% drop; this year, we forecast ADR to fall 36% ($161 to $104). 2020 Major Factors Virtually all significant corporate travel dissipated in 2020 given the widespread impact of the virus....
Outlook for the Latin American Hotel Industry
HVS | December 15, 2020
By Richard J. Katzman , Maxim Gómez, Patricia Badiuk, Lorea Arnoldi, Alonso Buitrón, and Rod Clough The COVID-19 pandemic and resulting restrictions on domestic and international travel, economic activity, and individual movement are having an unprecedented impact on the lodging and tourism industry in Latin America and worldwide. While government authorities across the region work to manage restrictions and phased reopening plans, uncertainty prevails over the duration of the global pandemic. What started as a health crisis with tragic consequences for victims of COVID-19 morphed over the course of the year into a deep economic downtu...
US Hotel Industry Forecast Adjusts in Response to COVID-19 Winter Surge and Anticipation of Vaccines
CBRE Group, Inc. | December 14, 2020
Dallas – December 14, 2020 – The recent surge in COVID-19 infections has dampened expectations for U.S. hotel performance through the first half of 2021, but news of effective vaccines has bolstered projections of U.S. lodging industry recovery beginning in earnest during the second half of next year, according to CBRE’s latest hotel forecast. According to the recently released Q3 2020 edition of Hotel Horizons®, CBRE Hotels Research is forecasting an average national occupancy level of 44.4 percent during the first half of 2021. This measure increases to 55.7 percent during the year’s second half. “The increased spread of th...
STR: U.S. Hotel Results for Week Ending 5 December
STR | December 10, 2020
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy increased slightly from the previous week, according to the latest data from STR through 5 December. 29 November through 5 December 2020 (percentage change from comparable week in 2019): Occupancy: 37.4% (-37.9%) Average daily rate (ADR): US$86.21 (-33.1%) Revenue per available room (RevPAR): US$32.23 (-58.4%) With slightly higher demand after Thanksgiving, occupancy improved after several weeks of lowering levels. With a tougher year-over-year comparable, however, the country’s RevPAR decline was its worst since late June. Aggregate data for the Top 25 Market...
STR: Canada Hotel Results for Week Ending 5 December
STR | December 10, 2020
HENDERSONVILLE, Tennessee — 10 December 2020 — STR data for 29 November through 5 December 2020 showed Canada’s hotel industry with slightly lower occupancy compared to the previous week. 29 November through 5 December 2020 (percentage change from comparable week in 2019): Occupancy: 24.7% (-58.3%) Average daily rate (ADR): CAD106.07 (-28.1%) Revenue per available room (RevPAR): CAD26.19 (-70.0%) Occupancy for previous weeks came in at 25.7% (28 November), 27.8% (21 November), and 27.8% (14 November). For the week ending with 5 December, British Columbia recorded the highest occupancy level (28.3%) among the prov...
STR: Canada Hotel Results for Week Ending 28 November
STR | December 3, 2020
HENDERSONVILLE, Tennessee—STR data for 22-28 November 2020 showed Canada’s hotel industry with slightly lower occupancy from the previous week. 22-28 November 2020 (percentage change from comparable week in 2019): Occupancy: 25.7% (-56.6%) Average daily rate (ADR): CAD106.57 (-26.2%) Revenue per available room (RevPAR): CAD27.36 (-68.0%) Occupancy for previous weeks came in at 27.8% (21 November), 27.8% (14 November), and 29.4% (7 November). For the week ending with 28 November, British Columbia recorded the highest occupancy level (29.2%) among the provinces. Among the major markets, Vancouver (27.3%) saw the...
STR: U.S. Hotel Results for Week Ending 28 November
STR | December 3, 2020
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy fell to its lowest level since late May, according to the latest data from STR through 28 November. 22-28 November 2020 (percentage change from comparable week in 2019): Occupancy: 36.2% (-28.5%) Average daily rate (ADR): US$92.49 (-17.8%) Revenue per available room (RevPAR): US$33.49 (-41.2%) TSA checkpoint counts increased sharply with more than 6 million passengers during both the week before and of Thanksgiving. However, that increased air travel volume did not translate to more hotel rooms sold as weekly demand (13.2 million) and occupancy fell to their lowest lev...
Significant Spike in Daily COVID-19 Cases Expected to Prolong Recovery of the US Lodging Industry
PwC US | December 1, 2020
US Hospitality Directions: November 2020 Continued political uncertainty leading up to the presidential inauguration, the speed of the business traveler's return after a vaccine, and the length and severity of a resurgence of the virus in Q4 and into 2021 are impacting lodging's recovery in the US. In our May edition, we had assumed the then consensus view that the daily number of new COVID-19 cases in the US peaked in late April. We now know this did not occur, and that the current daily number is over four times that level. This has significantly impacted the recovery timeline. We currently expect annual occupancy for US hotels this year t...
Austin to Experience a 10% Increase in Hotel Room Supply Over the Next 12 Months
HotelMarketData | December 1, 2020
HotelMarketData (HMD) Index indicates over 4,000 new hotel rooms under construction to become available in the Austin region by the end of Q4 2021 01-December-2020 – Chicago, IL – Austin, Texas anticipates a 10% increase in the supply of hotel rooms by the end of the fourth quarter of 2021. The total supply will increase from 40,676 currently available to over 44,790 available rooms as 26 hotels are slated to open in the Austin region over the next 12 months. According to the HMD Index, which provides real-time supply and construction pipeline data for the US hotel industry, the supply of luxury rooms within Austin is expected to ...
