International Visitors Spent Nearly $20.1 Billion Traveling Within the United States in March
National Travel and Tourism Office (NTTO) | May 23rd, 2024
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16th, 2024
Federal Government Shutdown Would Cost U.S. Travel Economy $140 Million Per Day According to U.S. Travel Association Analysis
U.S. Travel Association | September 21, 2023
Six in 10 Americans would cancel or avoid trips by air in the event of a government shutdown WASHINGTON (September 21, 2023)—A federal government shutdown is estimated to cost the U.S. travel economy as much as $140 million a day, according to new analysis for the U.S. Travel Association—underscoring the dire consequences of Congress failing to pass a short-term extension by September 30. “Each day that passes will cost the travel economy $140 million, an unacceptable prospect that Congress must avoid before the clock runs out and the damages mount,” said U.S. Travel Association President and CEO Geoff Freeman. “The federal gove...
Travel Recovery Continues As Hoteliers Embrace Upselling With 70% Increase in Summer 2023, According to Mews Data Snap
MEWS | September 20, 2023
Revenue from parking lots, meeting rooms, and other spaces increased 22% YOY, while upselling increased 31% [New York, NY – Sept. 20, 2023] – Mews, the industry-leading hospitality cloud, today released the Mews Data Snap, a real-time measure of hospitality’s performance during the summer of 2023 (June, July, and August). The report also compares this year’s data to summer 2022 to pinpoint how the hospitality sector is changing. Based on data from Mews partners worldwide, the Mews Data Snap unpacks hospitality’s performance across five key areas: occupancy, ADR and RevPar, online check-ins and upsells, and additional bookable ...
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...
Richmond, Virginia’s RevPAR Rebound and Diverse Lodging Demand
Chelsey Leffet | September 18, 2023
By Chelsey Leffet Richmond’s economy is diverse compared to the greater region. The city has long been a hub for a number of industries, including financial, medical, biotechnology, manufacturing, and transportation. Moreover, the presence of federal and state agencies is a stabilizing factor for the area’s economy. The city’s economic base is supported by major colleges and universities, Dominion Energy, a Federal Reserve Bank, Virginia Commonwealth University Health System, and the VA Bio+Tech Park businesses, just to name a few. Local hotels benefit from the strength of these employers. The Richmond region’s lodging ...
Baird/STR Hotel Stock Index Down 3.6% in August
Baird | September 14, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 3.6% in August to a level of 5,856. “Hotel stocks pulled back and underperformed in August with Hotel REITs the laggards,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The Hotel REITs posted their worst month of the year due to weak second quarter earnings reports, reduced full-year guidance expectations, and several weather-related impacts across the country during the month; relative performance would have been even worse if not for Hersha’s take-private announcement during the last week of the month.” “U.S...
U.S. Hotel Performance Shows Mixed Results
CoStar Group | September 14, 2023
WASHINGTON – 14 September 2023 –Continuing seasonal patterns, U.S. hotel performance showed mixed results from the previous week, according to CoStar’s latest data through 9 September. 3-9 September 2023 (percentage change from comparable week in 2022): Occupancy: 60.3% (-1.9%) Average daily rate (ADR): US$150.66 (+1.8%) Revenue per available room (RevPAR): US$90.86 (-0.1%) Among the Top 25 Markets, Denver saw the largest year-over-year increases in each of the key performance metrics: occupancy (+8.0% to 76.3%), ADR (+12.5% to US$163.16) and RevPAR (+21.4% to US$124.56). Helped by the US Open and New York Fas...
Conroe, Texas: North Houston’s Emerging “Leading Lady”
Kira Black | September 14, 2023
By Kira Black Conroe provides small-town living while located only 40 miles north of Houston, the fourth-largest city in the country. This quaint city is currently having a resurgence and is considered one of the fastest-growing cities in Texas. Conroe has a reported population of 103,035 as of August 31, 2023, a 36% increase from 2013, and it is only projected to grow. The town has ample land for new development, and the recent improvements are heavily influenced by the city development model of The Woodlands just ten miles south. With this location near The Woodlands and so much available land, Conroe is starting to experience spillov...
The Best Seat in the House is a Cheap Seat
Anthony Davis | September 13, 2023
By Anthony Davis If you were to travel to see your favorite musical act in any city in the US, which city would you choose? How would you decide? Would you want to travel somewhere with a famous music scene, a fun destination with things to do and good infrastructure, or look for the cheapest ticket you can find? We know from previous HVS analysis that many fans are willing to travel, but that not all concert tour destinations have the same appeal. Why do different stadiums or cities get more visitors and associated imported economic impact than others? To answer this question, we gathered data from Pollstar on four large domestic tou...
The Rebounding San Diego Lodging Market Attracts Investor Interest
Marcus Lee | September 11, 2023
By Marcus Lee Following the COVID-19 pandemic and the significant decline in market performance, hotel demand levels in Greater San Diego[1] have rebounded. Some factors supporting the recovery included the following: Stability within the government and military sector Increased business activity, including growth in the biotechnology and life-sciences sectors, as six San Diego-based companies, including Janssen and Pfizer, worked on the production of the COVID-19 vaccine The strong rebound in leisure travel and the popularity of the region as a tourist destination A quick rebound in passenger traffic at San Diego Internat...
ITA Data Release: June 2023 Total International Travel Volume
NTTO | September 11, 2023
In June 2023, International Visitor Arrivals to the United States totaled 4,996,037, an increase of 24.5% Compared to June 2022 U.S. Citizen Outbound Travel Departures from the United States Totaled 10,377,992 in June 2023, an Increase of 20% Compared to June 2022 Data recently released by the National Travel and Tourism Office (NTTO) show that in June 2023: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 4,996,037, increased 24.5% compared to June 2022 and represents 79% of the pre-COVID total visitor volume reported for June 2019...
Retail Tourism Represented US$178BN Accounting for 6% of Travel & Tourism’s GDP in 2019
The World Travel & Tourism Council | September 8, 2023
Barcelona, Spain: The World Travel & Tourism Council (WTTC) has today launched “Global Retail Tourism: Trends and Insights”, a report set to change the way we think about shopping tourism. The joint research between WTTC and the Hospitality & Tourism Research Centre of The Hong Kong Polytechnic University, in collaboration with The Bicester Collection, was published during an event which took place at La Roca Village, part of The Bicester Collection, in Barcelona, Spain, to coincide with the Village’s 25th anniversary. In 2019, retail tourism represented a substantial US$178BN, comprising 6% of the Travel & Tourism se...
Market Spotlight on Canada
HotStats | September 8, 2023
By Jeannette King Recent data on the performance metrics of the Canadian hospitality market reveals a compelling story of resilience and recovery tinged with a note of warning on bottom-line conversion. Amidst global challenges, the industry has demonstrated its tenacity, with the Total Revenue Per Available Room (TRevPAR) metric taking center stage in this narrative. In a comparative analysis spanning from 2019 to 2023, the trends underscore the transient nature of the setbacks faced in 2022 and highlight the industry's subsequent rebound. Specifically, the TRevPAR metric, which provides a holistic view of a hotel's revenue-generating ...
U.S. Hotel Results for Week Ending 2 September
CoStar Group | September 8, 2023
WASHINGTON – 7 September 2023 – Following seasonal patterns, U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 2 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 27 August through 2 September 2023 (percentage change from comparable week in 2022): Occupancy: 62.7% (+0.2%) Average daily rate (ADR): US$150.52 (+1.8%) Revenue per available room (RevPAR): US$94.38 (+2.0%) Among the Top 25 Markets, Minneapolis saw the largest year-over-year inc...
“Volleyball Day in Nebraska” Sets World Attendance Record and Boosts Hotel Demand / Sara Olson
Sara Olson | September 8, 2023
Approximately 92,000 Nebraska volleyball fans packed Memorial Stadium on August 30, 2023, to watch the Nebraska Huskers sweep Omaha in an outdoor match, setting a new women’s sporting event attendance record. Local hotels benefited from the midweek event, as most available guestrooms in the market were filled. The “Sea of Red” is a common sight in Downtown Lincoln as the fall months begin, with area crowds tailgating, packing the bars, and running around Downtown in Husker gear. But typically, this type of crowd is associated with the Nebraska Husker football team. On Wednesday August 30, 2023, known as “Volleyball Day in Nebraska...
ITA Data Release: International Inbound Visitors Spent $18 Billion in July 2023
NTTO | September 8, 2023
Data recently released by the National Travel and Tourism Office (NTTO) show that in July 2023: International visitors spent nearly $18 billion on travel to, and tourism-related activities within, the United States, an increase of nearly 24 percent compared to July 2022 and the highest level of monthly spending since December 2019. Conversely, Americans spent more than $17.2 billion traveling abroad during July, yielding a balance of trade surplus of $777 million, and the fourth consecutive month during which the United States enjoyed a balance of trade surplus for travel and tourism-related goods and services. International visit...
Inbound Travel’s Slow Recovery Is Hurting U.S. Retailers
Andrew Szyf | September 1, 2023
By Aaron Szyf In an age when online shopping has replaced many in-person purchases at diverse U.S. businesses throughout the country, the full return—and continued growth—of inbound travel is critical for numerous U.S. retailers. International visitors to the U.S. love to shop and spend money at stores across the country. In fact, according to NTTO’s Survey of International Travelers (SIAT), more than 80% of overseas travelers reported that they engaged in shopping, more than any other activity. The U.S. was—and remains—the “single most popular destination for shopaholics” according to a recent WTTC report. In an age when on...
Mississippi Gulf Coast: A Record Recovery
Lauren Hock | September 1, 2023
By Lauren Hock 2020: Strength During the Pandemic The COVID-19 pandemic initially posed a major threat to the leisure-heavy Gulf Coast tourism industry, as the market only benefited from one month of Spring Break travel before the stay-at-home orders were issued. However, the state of Mississippi relaxed its COVID-19 restrictions sooner than competitive markets in nearby states, thereby allowing the state’s Secret Coast resorts to capture large amounts of pent-up leisure demand. As a result, occupancy and ADR for July and August nearly reached pre-pandemic levels. The hurricane season can have a negative or positive impact on Gulf Coas...
Taylor Swift Impact Grows to $208M in U.S. Hotel Room Revenue
STR | August 31, 2023
Analysis by M. Brian Riley There’s no shortage of debate when discussing U.S. hotel performance or the country’s economic prospects headed into the final months of 2023. One portion of those discussions not requiring debate, however, is the massive lift provided by Taylor Swift’s The Eras Tour. Best believe U.S. hotels were still “bejeweled” when Swift came to town, as concert dates after our previous update (June through early August) increased the tour impact to $208 million in additional U.S. hotel room revenue. Methodology The starting leg of Swift’s U.S. tour, analyzed here, began in mid-March with a total of 28 shows i...
U.S. Hotel Results for Week Ending 26 August
CoStar Group | August 31, 2023
WASHINGTON – 31 August 2023 – Following seasonal patterns, U.S. hotel performance declined from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 26 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 20-26 August 2023 (percentage change from comparable week in 2022): Occupancy: 65.0% (+0.4%) Average daily rate (ADR): US$150.23 (+1.7%) Revenue per available room (RevPAR): US$97.62 (+2.1%) Among the Top 25 Markets, Las Vegas saw the largest year-over-year occupancy increase (+7.9% to 76...
In Focus: Singapore
Hok Yean CHEE | August 31, 2023
The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of approximately 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.6 million people, Singapore has witnessed a remarkable record of sustained economic growth throughout the years and bolstered its role as a global commerce, finance and transportation hub. Due to the high inflation and uncertain global outlook, Singapore's overall economy grew by 3.5% in 2022. Further decrease in Gross D...
Australia Hotel Performance Normalizing With Improvement in Business Travel
CoStar Group | August 30, 2023
SYDNEY – 30 August 2023 – Australia’s recent hotel performance represents normalization as leisure demand has peaked and given way to strengthening in corporate business, according to CoStar and STR analysis that will be presented this week at NoVacancy Hotel + Accommodation Industry Expo. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. STR is CoStar’s provider of data benchmarking, analytics, and marketplace insights for the global hospitality industry. Australia’s occupancy through the first seven months of the year was 68.2%, which was up ...
Recovery and Expansion of the Jersey Shore Hotel Market
Andrew Cameron | August 30, 2023
By Andrew Cameron Known for its beautiful beaches stretching along the Atlantic Ocean, the Jersey Shore comprises four diverse counties, each with its own distinct character and attractions. Featuring all types of lodging, from economy motels to luxury beachfront resorts, the Jersey Shore is a hot spot for many leisure travelers seeking a coastal getaway during the summer months. County Demand Generators and Trends There are many unique lodging options within these counties; however, many of these are family-owned, independent properties that do not submit data to STR. Because of this, the state occupancy tax of 5% on hotel an...
Look What You Made Me Do To The U.S. Economy (Taylor’s Version)
Anthony Davis | August 29, 2023
By Anthony Davis Taylor Swift’s Eras Tour has had an estimated $4.6 billion impact on the US economy. This seems absurd at first, but HVS analysis reveals that Swift’s tour is an immense outlier from other concert tours in attracting attendees from out of town. More than 3.7 million people traveled more than 100 miles from home to see Swift perform. Taylor Swift and her fans may be one of the most powerful forces in the world. They have broken Ticketmaster’s website multiple times with overwhelming demand for tickets for Swift’s Eras Tour and forced stadiums to bar gatherings of fans outside the venue during the concert. Accordin...
The Florida Panhandle Remains a Top-Tier Destination
Hannah McManus | August 28, 2023
By Hannah McManus The Florida Panhandle, once a quiet haven with “mom and pop” motels and condominium towers, is now lauded as a top-tier beach and leisure destination that boasts a robust inventory of vacation rental units, nationally branded hotels, and independent properties. Short-term lodging was particularly attractive in the post-pandemic period. The area’s position as a drive-to destination with ample outdoor attractions and minimal restrictions drew new and repeat visitors. An examination of gross tourist tax collections (a 5% tax levied on short-term rental and hotel room revenues) in Escambia, Santa Rosa, Okaloosa, and ...
