Here’s How COVID-19 Has Altered USALI Financial Reporting
HotStats | June 22nd, 2020
The Middle East’s Ghastly Hotel Numbers in April Could Be the Bottom
HotStats | June 3rd, 2020
STR Weekly Insights: 13-19 October 2024
CoStar Group | October 25, 2024
Analysis by Isaac Collazo, Will Anns Highlights Hurricane recovery, college football, Taylor Swift and more lift U.S. RevPAR Strong RevPAR growth seen in Northeastern U.S. hotels Global performance unwavering In the week ending 19 October 2024, U.S. revenue per available room (RevPAR) advanced 4.2% on 2.5 growth in average daily rate (ADR) and a 1.1 percentage point (ppt) increase in occupancy. RevPAR growth in the Top 25 Markets trailed slightly versus the remaining markets, which saw ongoing demand and ADR gains from areas impacted by Hurricanes Helene and Milton. Additionally, Taylor Swift’s tour stop and the Ado...
Corporate Traveler and GBTA Release Market Research and Trends Report, Comprehensive Study Examining the SME Business Travel Landscape in the U.S.
Corporate Traveler | September 26, 2024
Traveler safety revealed as the top priority for business travelers, while rising travel costs serve as the biggest pain point, according to new report analyzing the small and midsize enterprise (SME) travel industry Corporate Traveler, the flagship SME corporate travel division of Flight Centre Travel Group, and the Global Business Travel Association (GBTA), the world’s premier business travel trade organization, announce the release of a new joint research report which offers a detailed look into the key trends, insights, and behaviors that are shaping the small and midsize enterprise (SME) business travel market in the United State...
U.S.Hotel Results for Week Ending 21 September
CoStar Group | September 26, 2024
WASHINGTON – 26 September 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 21 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 15-21 September 2024 (percentage change from comparable week in 2023): Occupancy: 68.9% (+0.5%) Average daily rate (ADR): US$168.80 (+2.0%) Revenue per available room (RevPAR): US$116.22 (+2.5%) Among the Top 25 Markets, Houston saw the highest year-over-year lift in occupancy (+10.7% to 69.0%). Driven by Dreamforce 2024, San Francisco...
U.S. Hotel Results for Week Ending 7 September
CoStar Group | September 12, 2024
WASHINGTON – 12 September 2024 – The U.S. hotel industry reported lower performance results than the previous week, according to CoStar’s latest data through 7 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 1-7 September 2024 (percentage change from comparable week in 2023): Occupancy: 57.8% (-4.2%) Average daily rate (ADR): US$149.67 (-1.0%) Revenue per available room (RevPAR): US$86.48 (-5.2%) Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (+8.0% to 57.1%) and RevPAR (+18.5% to US$65.62)....
The Future of Investments and Financing – Hospitality Sector Trends
Hala Matar Choufany, ISHC | September 12, 2024
The hospitality industry is undergoing a significant transformation, driven by technological advancements, shifting consumer preferences, and evolving global economic trends. These changes are reshaping how investments and financing in the sector are approached. Over the next two decades, the industry is expected to witness substantial evolution in investment strategies and priorities. Currently, there are approximately 300,000 rooms under development across the GCC. However, in the current economic environment, challenges such as rising borrowing costs, development expenses, and operational expenditures are increasingly impacting hotel va...
HVS Outlook Fall 2023: Discovering a New Normal
Anne R. Lloyd-Jones | September 18, 2023
By Anne R. Lloyd-Jones, McKenna Luke The strong growth that characterized the last three quarters of 2022 continued through Q1 2023 to complete a full twelve months of recovery. Despite inflation, an active Fed, and persistent recessionary concerns, the lodging industry continued to benefit from robust leisure and “bleisure” demand, supplemented by accelerating group demand. Overall, total demand exceeded 2019 levels beginning in September 2022, and this trend continued through March 2023. Trends through the middle of the year have been mixed. Occupancy levels remained relatively stable to modestly lower from April through August 2...
Amsterdam Hotel Performance Jumped During Eventful August
CoStar Group | September 18, 2023
WASHINGTON – 18 September 2023 – Amsterdam’s hotel industry showed event-driven improvement in monthly performance, according to preliminary August 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. August 2023 (year-over-year % change): Occupancy: 80.0% (+5.2%) Average daily rate (ADR): EUR180.45 (+18.9%) Revenue per available room (RevPAR): EUR144.40 (+25.0%) The market’s hotel performance was helped by several events, including Pride Amsterdam, the 46th Congress of the European Society of Cardiology (ESC) and the Dutch Grand...
CBRE Updates U.S. Lodging Forecast to Further Account for Delta Variant’s Impacts
CBRE Group, Inc. | October 12, 2021
Dallas, TX – October 12, 2021 – The COVID-19 Delta variant’s emergence and spread has hampered plans for group and business travel this fall and winter, spurring CBRE Hotels Research to temper its expectations in September 2021 for Q4 2021 U.S. lodging performance on a national basis. CBRE’s tempered outlook extends into 2022, given the likelihood that corporate travel budgets will remain constrained next year. Earlier this year, the lodging outlook had been brighter due to strong leisure demand boosting summer occupancy levels beyond expectations at U.S. hotels. But the emergence of the Delta variant sapped momentum from more lucrat...
Expedia Group Media Solutions Releases Q2 Trend Report for Travel Recovery
Expedia Group Media Solutions | August 10, 2021
SEATTLE, WA – August 10, 2021 – Expedia Group™ Media Solutions, the global travel advertising platform connecting marketers with hundreds of millions of travelers across the Expedia Group brand, today released its Q2 2021 Travel Recovery Trend Report. The quarterly report combines Expedia Group first-party data and custom research with actionable insights to help travel marketers on their road to recovery. “Throughout Q2, we continued to see strong global search growth, rising international searches and lengthening search windows, among other key milestones,” said Wendy Olson Killion, Senior Vice Presid...
OTAs Deliver Business. Can Hoteliers Do Better?
HotStats | July 13, 2021
As COVID-19 roiled the globe, hoteliers, like 9/11 and the Global Recession before it, found online travel agencies (OTAs) throwing them a lifeline. Through extensive TV and online advertising, booking engines pull in heaps of business, but at typically high commission costs that eat into profit margins. According to HotStats data, rooms cost of sales, a metric that measures commissions and reservations expenses and fees, year-to-date 2021 were down 37% to $2.08 on a per-available-room basis compared to the same period a year prior. In Europe, it was a similar trend, with rooms costs of sales at €1.31 year-to-date 2021, a 62.6% decrease ...
Global Hotel Demand Uptick Tussles With Competing Costs
HotStats | June 29, 2021
With the global pandemic showing some signs of relent, the collective hotel industry is reaping the reward, as travelers get back on planes or hit the road for a well-needed break from work-from-home monotony and Netflix overload. The hotel industry is happy to welcome them back, but a continued revenue shortfall—the product of some segments still not returning with gusto, such as corporate and group—complemented by expense creep and an all-too-difficult labor market, are having consequence on the bottom line. The U.S. Push Here’s a stat: On June 25, 2021, 2,137,584 people passed through U.S. airports, according to the TSA,...
EHL European Hotel Transaction Price Index Shows Impact of the Covid-19 Crisis
Dr René-Ojas Woltering | June 8, 2021
By Dr René-Ojas Woltering EHL’s Institute of Real Estate, Finance & Economics is pleased to present the first update of the European Hotel Transaction Price Index that was initially launched last year. In 2020, European hotel transaction prices decreased on average by 11.1% vs. the prior year. The total transaction volume recorded by Real Capital Analytics (RCA) decreased to EUR 10.5 bn, which is 59% lower than the record transaction volume of 2019. A smaller drop than expected To date, the impact of the Covid-19 crisis on the European hotel real estate sector is significantly smaller than the -30% drop associated with the 2009 gl...
HotStats Releases 2020 Global Profit and Loss Data Report
HotStats | March 24, 2021
LONDON - March 24, 2021 - HotStats, the global leader in monthly profit and loss data benchmarking, has released the findings of its "Profit Matters Global Hotel Performance Review 2020." The annual report tracks global hotel industry performance across myriad revenue, expense and profitability metrics and features commentary focused on the trends that drove business in 2020. 2020 was like no other year on record and operational data supported that, with most metrics down considerably year-over-year, as the hotel industry was forced to cope with the pernicious effects of the COVID-19 pandemic. Though asset types fared differently, all wer...
Key Events Lifting U.K. Hotel Occupancy Later in 2021
STR | February 5, 2021
February 5 2021 - For many parts of the world, hotel performance is forecasted for more meaningful improvement during the second half of 2021. That optimism is underpinned by the assumption of widespread vaccination distribution, lower COVID-19 case numbers and improved context for travel and events. In Europe, STR’s forward-looking data supports that optimism with visible market-level spikes around key events scheduled for the second quarter and beyond. This data, powered by Forward STAR, is a significant advancement for an industry needing to make the most of recovery when it kicks into gear. Below are a few glaring examples right n...
COVID-19’s Impact on the Portland Lodging Market
HVS | February 4, 2021
February 2, 2021 - Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. Our estimate is that local occupancy declined from the 2019 benchmark of roughly 74% to 35% in 2020, reflecting a 53-point correction, while ADR declined 25% ($137 to $103). Portland 2021–2023 Forecast Source: STR (Historical Years) and HVS (Forecast) 2020 Major Factors Virtually all significant corporate travel dissipated in 2020 because of the widespread impact of the COVID-19 pandemic. While most businesses began reopening in late May 2020, major employers such as Nike an...
The U.S. Hotel Construction Pipeline Stands at 5,216 Projects/650,222 Rooms at Year-End 2020
Lodging Econometrics | January 28, 2021
PORTSMOUTH, NH - January 28, 2021 – According to Lodging Econometrics’ (LE’s) Construction Pipeline Trend Report for the United States, the total U.S. construction pipeline stands at 5,216 projects/650,222 rooms. These are year-end 2020 results, and are down only incrementally, as the United States grappled with the ongoing coronavirus pandemic, an election, civil unrest, and the large and rapid partisan shift taking place. However, the announcement of various vaccine developments and distribution was undeniably good news for the general public, businesses, hotel development and the lodging industry as a whole, especially going forward....
2020: Worst Year in Tourism History With 1 Billion Fewer International Arrivals
UNWTO | January 28, 2021
ALL REGIONS - 28 January 21 - According to the latest UNWTO World Tourism Barometer, the collapse in international travel represents an estimated loss of USD 1.3 trillion in export revenues - more than 11 times the loss recorded during the 2009 global economic crisis. The crisis has put between 100 and 120 million direct tourism jobs at risk, many of them in small and medium-sized enterprises. Due to the evolving nature of the pandemic, many countries are now reintroducing stricter travel restrictions. These include mandatory testing, quarantines and in some cases a complete closure of borders, all weighing on the resumption of internat...
Knowland Announces U.S. Meetings and Events Data for November 2020
Knowland | December 11, 2020
Leader in group hospitality analytics sees meeting growth continue to rise month over month ARLINGTON, Va. — Dec. 11, 2020— November U.S. monthly meetings and events volume increased 15 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues. Even with the pause of the Thanksgiving holiday, meetings increased month over month. Meeting volume remains lower than 2019, however, the consistent monthly growth is a positive for the industry. Average attendees decreased – The average ...
U.S. Hotel Profitability Improved in October
STR | December 2, 2020
BROOMFIELD, Colorado—U.S. hotel profitability hit double figures for the first time since February, and year-over-year comparisons improved slightly from the previous month, according to STR‘s October monthly P&L data release. In a year-over-year comparison with October 2019, the industry reported the following: GOPPAR: -88.3% to US$12.69 TRevPAR: -72.2% to US$70.96 EBITDA PAR: -103.8% to US$-3.24 LPAR (Labor Costs): -61.1% to US$31.28 The industry’s GOPPAR was in single digits for the previous three months, including a level of US$8.14 in September. “There were positives in the profitability data even as...
The Middle East Hotel Construction Pipeline Continues to Decline
Lodging Econometrics | November 23, 2020
November 23, 2020 – PORTSMOUTH, NH - According to the latest published Construction Pipeline Trend Report for the Middle East, analysts at Lodging Econometrics (LE) state at the end of the third quarter of 2020, the hotel construction pipeline in the Middle East declined again to 579 projects/168,042 rooms. The Middle East’s pipeline is down 7% by projects and 6% by rooms year-over-year (YOY). This is the fifth consecutive quarter the pipeline has declined since reaching its cyclical peak by projects in Q2 2019. Projects currently under construction stand at 359 projects/117,274 rooms, down slightly from the peak projects and rooms ...
STR: U.S. Hotel Results for Week Ending 14 November
STR | November 19, 2020
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy slipped further from previous weeks, according to the latest data from STR through 14 November. 8-14 November 2020 (percentage change from comparable week in 2019): Occupancy: 43.2% (-32.7%) Average daily rate (ADR): US$90.58 (-28.6%) Revenue per available room (RevPAR): US$39.11 (-52.0%) After ranging between 48% and 50% occupancy from mid-July into the later portion of October, the last three weeks have produced levels of 44.4%, 44.1% and 43.2%. Aggregate data for the Top 25 Markets showed lower occupancy (39.7%) but higher ADR (US$96.31) than all other markets....
STR: Canada Hotel Results for Week Ending 14 November
STR | November 19, 2020
HENDERSONVILLE, Tennessee—STR data for 8-14 November 2020 showed slightly lower occupancy from the previous week for Canada’s hotel industry. 8-14 November 2020 (percentage change from comparable week in 2019): Occupancy: 27.8% (-53.5%) Average daily rate (ADR): CAD110.36 (-25.9%) Revenue per available room (RevPAR): CAD30.70 (-65.5%) Occupancy for previous weeks came in at 29.4% (7 November), 29.2% (31 October), and 31.1% (24 October), respectively. For the week ending with 14 November, Nova Scotia recorded the highest occupancy level (35.0%) among the provinces. Among the major markets, Vancouver (29.0%) saw the ...
China’s Hotel Construction Pipeline Continues to Remain Robust at the Q3 2020 Close
Lodging Econometrics | November 19, 2020
November 18, 2020 – PORTSMOUTH, NH - According to the latest China Construction Pipeline Trend Report, analysts at Lodging Econometrics (LE) report that China's total hotel construction pipeline remains robust at 3,409 projects/634,119 rooms, up 1% by projects and rooms year-over-year (YOY). These project and room counts are, however, down slightly over peak Q2 ’20 totals, which were the highest seen in China during this lodging real estate development cycle. There are currently 2,208 projects/405,530 rooms under construction in China, down YOY 13% by projects and 8% by rooms. Like last quarter, projects scheduled to start constructio...
STR: U.S. Hotel Performance for October 2020
STR | November 18, 2020
HENDERSONVILLE, Tennessee—The U.S. hotel industry showed slightly lower performance from the month prior, according to October 2020 data from STR. October 2020 (percentage change from October 2019): Occupancy: 48.3% (-30.1%) Average daily rate (ADR): US$97.61 (-26.8%) Revenue per available room (RevPAR): US$47.13 (-48.8%) Occupancy remained flat from the previous month, while the ADR and RevPAR levels came in lower than September. More recently, November weekly data showed that occupancy reached its lowest level since the week of June 14-20. Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest October occ...
