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
Hyatt Plans 2022 Opening of 150-Room Thompson Monterrey in Nuevo León, Mexico
Thompson Hotels | September 8, 2020
CHICAGO (September 3, 2020) – Hyatt Hotels Corporation (NYSE: H) announced plans for Thompson Monterrey, the first Thompson hotel in Mexico’s state of Nuevo León. The 150-room lifestyle hotel is expected to open in 2022 and will mark the fourth Thompson-branded property in Mexico. “Thompson Monterrey comes at a time of significant growth for the Thompson Hotels brand and will represent the brand’s entry into a key new market,” said Alfredo Reynoso, director of development, Mexico, Hyatt. “The Thompson brand aligns very well with Monterrey’s position as a business and entertainment destination, and we look forward to intr...
STR: Canada Hotel Results for Week Ending 29 August
STR | September 3, 2020
HENDERSONVILLE, Tennessee—STR data for 23-29 August 2020 showed lower performance from prior weeks for Canada’s hotel industry. In comparison with the week of 25-31 August 2019, the industry reported the following: Occupancy: -45.2% to 42.1% Average daily rate (ADR): -25.9% to CAD128.83 Revenue per available room (RevPAR): -59.4% to CAD54.26 Two provinces reached a 50% occupancy level: Prince Edward Island (55.8%) and British Columbia (53.5%). Ottawa (43.4%) was the only major market at or above the 40% mark. The lowest occupancy among provinces was reported in Quebec (32.4%). At the market level, the lowest occupan...
STR: U.S. Hotel Results for Week Ending 29 August
STR | September 3, 2020
HENDERSONVILLE, Tennessee—U.S. hotel occupancy decreased slightly for the second consecutive week, according to the latest data from STR. 23-29 August 2020 (percentage change from comparable week in 2019): Occupancy: 48.2% (-27.7%) Average daily rate (ADR): US$98.39 (-23.2%) Revenue per available room (RevPAR): US$47.38 (-44.5%) The industry sold 237,000 fewer room nights than the previous week, which represented a demand decrease of 1.3%. Week-over-week demand improvements were a constant since mid-April, but as summer ends and leisure travel fades, hotel performance gains have flattened. Aggregate data for the Top ...
United States Looks Set to Lose $155 Billion From Missing International Tourists and Visitors, Says WTTC
September 2, 2020
02/09/2020 $425 million a day being lost to the U.S. economy London, UK: A devastating $155 billion looks set to be lost from the U.S. economy due to the collapse of international travel during 2020, according to latest research conducted by the World Travel & Tourism Council (WTTC). WTTC, which represents the global Travel & Tourism private sector, says the massive decline in the number of international travellers and tourists visiting the U.S due to the COVID-19 pandemic, could result in international visitor spending dropping by a staggering 79%. This catastrophic loss to the American economy equates to a shortfal...
State of Hotel Industry Six Months Into Covid Pandemic
AHLA | September 1, 2020
Labor Day weekend hotel bookings down 66% compared to last year 4 out of 10 hotel employees not working with 65% of hotels operating below breakeven point Urban hotels impacted the most with crippling low occupancy rates at 38% Click here to download full “State of the Hotel Industry” report WASHINGTON (September 1, 2020) – The American Hotel & Lodging Association (AHLA) today released an analysis on the economic and human struggle of the hotel industry six months into the COVID-19 pandemic, with millions of employees still furloughed or laid off and travel demand lagging far behind normal levels. ...
COVID-19 and Transforming Tourism
August 28, 2020
If tourism brings us together, then travel restrictions keep us apart. More importantly, restrictions on travel also prevent tourism from delivering on its potential to build a better future for all. This week the United Nations Secretary-General launched the Policy Brief “COVID-19 and Transforming Tourism”, which UNWTO assumed the lead role in producing. This landmark report makes clear what is at stake – the threat of losing tens of millions of direct tourism jobs, the loss of opportunities for those vulnerable populations and communities who stand to benefit most from tourism, and the real risk of losing vital resources for ...
Year-Over-Year the Global Hotel Construction Pipeline Continues to Increase*
Lodging Econometrics | August 27, 2020
August 27, 2020 – PORTSMOUTH, NH - The latest Global Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), an industry-leading company that compiles construction pipeline counts for every global region, country, and city around the world, states that the global hotel construction pipeline stands at 14,779 projects/2,412,736 rooms. Year-over-year (YOY) the pipeline increased 5% by projects and 4% by rooms with several stages of the pipeline hitting their peaks by project and rooms counts. Under Construction is at an all-time high room count with 1,230,572 rooms/6,896 projects. Projects scheduled to start construction...
STR: U.S. Hotel Results for Week Ending 22 August
STR | August 27, 2020
HENDERSONVILLE, Tennessee—U.S. hotel occupancy fell to a three-week low during the period of 16-22 August, according to the latest data from STR. 16-22 August 2020 (percentage change from comparable week in 2019): Occupancy: 48.8% (-30.3%) Average daily rate (ADR): US$100.08 (-22.7%) Revenue per available room (RevPAR): US$48.81 (-46.1%) The prior week, the industry had reached 50% occupancy for the first time since mid-March. Lower occupancy came as U.S. room demand declined week over week for the first time since mid-April. Reflective of school openings and less vacation travel, the industry sold 492,000 fewer room nights...
STR: Canada Hotel Results for Week Ending 22 August
STR | August 27, 2020
HENDERSONVILLE, Tennessee—STR data for 16-22 August 2020 showed another week of improving performance for Canada’s hotel industry while significant year-over-year declines remain. In comparison with the week of 18-24 August 2019, the industry reported the following: Occupancy: -46.4% to 42.9% Average daily rate (ADR): -27.3% to CAD130.37 Revenue per available room (RevPAR): -61.0% to CAD55.97 Two provinces reached a 50% occupancy level: Prince Edward Island (56.1%) and British Columbia (53.7%). Four additional provinces reached a 40% occupancy level: Ontario (43.3%), New Brunswick (42.9%), Manitoba (40.4%) and Saskatch...
Overtourism Still an Issue in Europe as Domestic Visitation Increases, Says GlobalData
GlobalData | August 27, 2020
The surge in domestic tourism following COVID-19 has not curtailed as holiday-makers turn to staycations over international travel. This domestic tourism, which was once a knight in shining armor met with gratitude by residents in European hot spots, is now a cause for despair as they see the all-too-familiar scenes of overtourism, says GlobalData, a leading data and analytics company. Ralph Hollister, Travel & Tourism Analyst at GlobalData, comments: “There has been a steep fall in demand for international trips this summer due to fears of cancellation, disease transmission and quarantine measures upon return. According to GlobalDat...
Led by Asia-Pacific, Global Hotel Industry Makes Monthly Strides
HotStats | August 26, 2020
The world continues to deal with a pandemic that doesn’t want to subside. The hotel industry could use some breathing space. According to July profit and loss data from HotStats, the global regions continue to accrue negative months of profitability, with Asia-Pacific the exception, after two consecutive months of positive gross operating profit per available room (GOPPAR). And though global performance data is still well off from the year prior, there is room for celebration, with monthly strides being made in most key performance metrics. As COVID-19 drags on, with some 24 million confirmed cases worldwide, hotels, especially in ...
WTTC Says UK Looks Set to Lose £22 Billion From Missing Tourists and Visitors Due to Pandemic
August 26, 2020
London, UK: A staggering £22 billion looks set to be lost from the UK economy due to the collapse of international travel during 2020, according to the World Travel & Tourism Council (WTTC). Travellers and tourists are staying away from the UK in droves because of continuing uncertainty around travel restrictions designed to curb the spread of COVID-19. As a result, this year international visitor spending could plunge by 78% compared to 2019 levels, equating to a loss of £60 million a day, or £420 million a week, to the UK economy. The severe impact on UK Travel & Tourism is laid bare by WTTC as the economic fallout from ...
COVID-19 Impact on U.S. Waterparks and Waterpark Resorts in 2020
David J. Sangree | August 26, 2020
By David Sangree, Nuresh Maredia The current COVID-19 crisis continues to have a significant negative effect on the waterpark industry. Waterparks play a major role in providing entertainment, supporting job creation, fostering small business opportunities, and contributing to robust economic growth. Due to COVID-19, many outdoor waterparks delayed their season openings while others have decided, or were mandated, not to open at all in 2020. Many resorts with waterparks and standalone indoor waterparks were forced to close for several months, and some have yet to reopen. With the largest database of waterparks and waterpark resorts ac...
Labor Day Weekend Will Be Longer, Last-Minute and Quieter This Year
Travelocity | August 25, 2020
DALLAS, Aug. 25, 2020 - After a summer travel season that saw travelers largely reserving trips last minute, close to home and with safety top of mind, Labor Day weekend – the last hurrah of summer – is looking like it, too, will feel a bit different this year. As Travelocity® reveals its travel predictions ahead of the end-of-summer holiday, demand, search and survey data shows this Labor Day will be longer, socially distant and all-important with many families venturing out for possibly the first time all summer. A Travelocity survey in May1 revealed that most families were postponing or planning their first leisure trip during C...
STR: U.S. Hotel Results for Week Ending 15 August
STR | August 20, 2020
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy hit 50.0% for the first time since mid-March, according to the latest data from STR. 9-15 August 2020 (percentage change from comparable week in 2019): Occupancy: 50.2% (-30.0%) Average daily rate (ADR): US$101.41 (-23.0%) Revenue per available room (RevPAR): US$50.87 (-46.1%) U.S. occupancy has risen week over week for 17 of the last 18 weeks, although growth in demand (room nights sold) has slowed. The week ending 14 March was the last with occupancy of at least 50.0%. Aggregate data for the Top 25 Markets showed lower occupancy (42.2%) and ADR (US$99.29) than a...
STR: Canada Hotel Results for Week Ending 15 August
STR | August 20, 2020
HENDERSONVILLE, Tennessee—STR data for 9-15 August 2020 shows a continued steady rise in Canada’s hotel performance but the same significant level of year-over-year declines. In comparison with the week of 11-17 August 2019, the industry reported the following: Occupancy: -47.8% to 41.8% Average daily rate (ADR): -29.5% to CAD129.19 Revenue per available room (RevPAR): -63.2% to CAD53.99 Two provinces reached a 50% occupancy level: Prince Edward Island (52.2%) and British Columbia (52.1%). Two additional provinces reached a 40% occupancy level: Manitoba (41.2%) and Ontario (41.7%). Ottawa (40.1%) was the only major ...
At the Close of the Second Quarter of 2020, Hotel Construction Pipeline Growth in Europe Continues*
Lodging Econometrics | August 20, 2020
August 20, 2020 – PORTSMOUTH, NH - According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that at the close of the second quarter of 2020, Europe’s hotel construction pipeline increased 9% by projects and 13% by rooms to end the quarter with 1,851 projects and 295,038 rooms. Second quarter project and room counts are up slightly over last quarter’s totals. Projects under construction stand at an all-time high of 923 projects/149,637 rooms. Projects scheduled to start construction in the next 12 months are at 477 projects/75,818 rooms. Projects in the early planning sta...
STR: U.S. Hotel Performance for July 2020
STR | August 19, 2020
HENDERSONVILLE, Tennessee—The U.S. hotel industry showed slightly higher performance from the month prior, but at overall low levels during July 2020, according to data from STR. In a year-over-year comparison with July 2019, the industry recorded the following: Occupancy: -36.1% to 47.0% Average daily rate (ADR): -24.8% to US$101.76 Revenue per available room (RevPAR): -52.0% to US$47.84 The absolute occupancy level was the lowest for any June on record in the U.S., but all three key performance metrics were up from June levels. August weekly data shows occupancy just below 50% due to a slow and steady rise in demand that ...
Travel Community Calls on Congress to Pass Relief Legislation
The U.S. Travel Association | August 19, 2020
WASHINGTON (August 19, 2020)—U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on reports that both chambers of Congress may soon consider separate actions on coronavirus relief legislation: “It is crucial that leaders in Washington return to the negotiating table immediately and continue the important work they started. Since March, more than half of the 15.8 million pre-pandemic jobs supported by the travel industry have disappeared, leaving workers and small businesses in every pocket of America vulnerable to the economic pain of this public health crisis...
No Time for Timid Leadership – The Safe Restart of Tourism Is Possible
The World Tourism Organization (UNWTO) | August 18, 2020
The cost of the restrictions on travel introduced in response to the COVID-19 pandemic is there for all to see. Between January and May, the sudden and rapid fall in tourist arrivals cost an estimated $320 billion. That’s three times greater than the impact of the Great Recession of 2007-2009 on our sector – and this is just for the first five months of the year. The re-opening of borders to tourism is a welcome relief to millions who depend on our sector. But this alone is not enough, especially in view of recent announcements and measures which seem further and further away from the international coordination that UNWTO has been c...
Report: Hotel Industry Facing Historic Wave of Foreclosures
AHLA | August 18, 2020
WASHINGTON (August 18, 2020) – A new national report shows that the hotel industry is facing a historic wave of foreclosures as the COVID-19 pandemic continues to devastate small business hotel owners and its workforce. Since the beginning of the pandemic the hotel segment has faced a historic number of delinquencies and is the most heavily hit sector of the commercial mortgage-backed securities (CMBS) market. Nearly 4,000 hotel industry leaders sent an urgent letter to Congress urging immediate action to help hotels avoid foreclosure and the loss of tens of thousands of jobs. The report, compiled by Trepp, shows that the percentage of...
China’s Hotel Construction Pipeline Continues to Trend Upward Through the Second Quarter of 2020*
Lodging Econometrics | August 18, 2020
August 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 continues to trend upward to an all-time high of 3,574 projects/647,704 rooms. Up 19% by projects and 9% by rooms year-over-year (YOY), this is the 12thconsecutive quarter China’s pipeline has increased. China has 2,282 projects/408,403 rooms presently under construction. Projects scheduled to start construction in the next 12 months experienced a massive increase of 105% by projects and 57% by rooms YOY, to stand at a record-high 842 projects...
At the 2020 Second Quarter Close, the Asia Pacific Hotel Construction Pipeline, Excluding China, Shows Continued Growth*
Lodging Econometrics | August 17, 2020
August 17, 2020 – PORTSMOUTH, NH - According to the recent Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, grew to 1,906 projects/404,520 rooms, up 6% and 3% respectively, year-over-year (YOY). The region currently has 996 projects, a cyclical peak for the region, and 225,734 rooms under construction. There are 415 projects with 82,122 rooms scheduled to start construction in the next 12 months, and 495 projects/96,664 rooms in the early planning stage, up a remarkable 19% by projects and 12% by rooms YOY. Additionally,...
STR, TE Slightly Downgrade U.S. Hotel Forecast
STR | August 14, 2020
HENDERSONVILLE, Tennessee—Full recovery in U.S. hotel demand and room revenue remains unlikely until 2023 and 2024, respectively, according to the slightly downgraded STR and Tourism Economics forecast just released at the 2020 Hotel Data Conference. “Performance recovery is going to remain slow and well off of the pre-pandemic pace until the context for travel improves and group business begins to return,” said Amanda Hite, STR president. “To show how far levels have fallen year over year, the 40% demand decrease we project for Q3 2020 will be a substantial improvement from the 57% decline realized during Q2. Even with a slight im...
