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
BOLD by Wyndham Hits the Accelerator, Signs Nearly 20 Hotels in Just Over Six Months
Wyndham Hotels & Resorts | February 22, 2023
PARSIPPANY, N.J., Feb. 22, 2023 -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,100 hotels in over 95 countries, today announced the rapid expansion of its groundbreaking BOLDSM by Wyndham program. In just over six months, the program has signed deals for 18 hotels across the U.S., including 10 under its newly launched ECHO SuitesSM Extended Stay by Wyndham brand. Based on data provided by the National Association of Black Hotel Owners, Operators and Developers (NABHOOD), Black employment in the hotel industry represents nearly 20 percent of all team members in the indus...
ITA Forecasts Over 20% Increase of International Visitors to the United States in 2023
International Trade Administration | February 22, 2023
WASHINGTON, DC – The International Trade Administration (ITA) today released the U.S. federal government’s official forecast of international visitation to the United States. ITA’s National Travel and Tourism Office (NTTO) forecasts the total volume of international visitation to the United States to increase to 62.8 million in 2023, up 11 million, or 21.2%, from a total 51.8 million visitors in 2022. The forecast also estimates international visitation to reach 82.4 million in 2025, surpassing pre-pandemic 2019 visitation of 79.4 million. Additionally, international visitation is forecasted to reach 91 million in 2027. If reache...
Boston & Cambridge Lodging Strengthens in 2022 With More Upside for 2023
Rachel Roginsky | February 21, 2023
By Rachel Roginsky Despite a slow start in the first Quarter 2022, the Boston & Cambridge lodging market ramped up quickly, and by year-end, the Revenues Per Available Room (RevPAR) reached a 90% index compared to its 2019 (pre-covid) top-line performance. Like many urban gateway cities, the city struggled in its recovery from the negative effects of the pandemic in 2021, as compared to other cities located in warmer climates, which showed strong recoveries one year following the outbreak of Covid in March of 2020. Yet despite the slower recovery, in 2022, leisure demand came roaring back in Boston, while corporate and group travel p...
STR: Bangkok Hotels Posted Second-Highest ADR on Record in January
STR | February 20, 2023
LONDON – Bangkok’s hotel industry reported the second-highest monthly average daily rate (ADR) on record in the market, according to preliminary January 2023 data from STR. Occupancy: 67.5% Average daily rate (ADR): THB 4,338.82 Revenue per available room (RevPAR): THB 2,930.15 December 2022 was the only other month with ADR above THB 4,000 in Bangkok. The market’s January ADR level was 21.5% above the pre-pandemic comparable from 2019, while occupancy and RevPAR remained below the 2019 comparables by 19.7% and 2.4%, respectively. When looking at daily data, Bangkok’s highest occupancy levels were seen on Thursday, 2...
STR: Amsterdam Hotels Showed Typical Seasonal Slowing in January
STR | February 20, 2023
LONDON – In its first January without restrictions since 2020, Amsterdam hotel performance showed a typical season slowing from the months prior, according to preliminary data from STR. Occupancy: 53.1% Average daily rate (ADR): EUR130.71 Revenue per available room (RevPAR): EUR69.37 The market’s ADR level surpassed the pre-pandemic comparable from 2019 (+18.5%), while occupancy and revenue per available room (RevPAR) remained off the pace by 17.7% and 2.5%, respectively. When looking at daily data, occupancy topped 70% just once—on Saturday, 28 January (72.5%)—the night of the Robbie Williams concert. All of ST...
Greater Houston Lodging Market: On the Mend
Bunmi Adeboye | February 20, 2023
By Bunmi Oyinloye The oil and gas industry remains Greater Houston’s primary economic anchor, defining the market’s business cycle and the area’s economic growth path. The hotel market began to stabilize in 2019 following declines in lodging demand as a result of the volatility of the oil and gas markets, and Greater Houston experienced a steep decline in lodging demand in 2020 given the onset of the COVID-19 pandemic. Recent data illustrate a steady return to pre-pandemic levels, supported by increasing business relocations, ongoing economic development, and the market’s reputation as a global hub for energy, health care, and aero...
STR: U.S. Hotel Results for Week Ending 11 February
STR | February 16, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 11 February. 5-11 February 2023 (percentage change from comparable week in 2019*): Occupancy: 57.8% (-8.7%) Average daily rate (ADR): US$150.97 (+13.4%) Revenue per available room (RevPAR): US$87.21 (+3.6%) While none of the Top 25 Markets saw an occupancy increase over 2019, Dallas came closest to its 2019 comparable (-0.7% to 66.1%). Helped by Super Bowl LVII, Phoenix reported the highest ADR (+129.5% to US$387.06) and RevPAR (+114.3% to US$300.09) increases over 2019. The steepest RevPAR ...
New STR Survey Reveals Top Hospitality Industry Challenges and Strengths
STR | February 16, 2023
HENDERSONVILLE, Tennessee – Labor-related issues and energy/utility costs are among the top challenges on the mind of global hotel and travel industry professionals, while leisure demand and increased guest spending are seen as the biggest strengths, according to a new survey from STR. The Hospitality Industry Sentiment survey is STR’s first longitudinal study of hotel and travel industry professionals, with initial findings captured between 29 November and 11 December 2022 from 200 respondents across the globe. “While respondents cited similar challenges around the globe, professionals in North America indicated that labor sup...
The Latino Hotel Association Releases Inaugural Hotel & Entrepreneurship Investment Report
The Latino Hotel Association | February 16, 2023
The LHEI Report highlights the power of Hispanic entrepreneurship and closing the opportunity gap faced by Latinos in hotel and hospitality ownership SANTA FE, N.M., Feb. 16, 2023 -- The Latino Hotel Association released the 2023 inaugural Latino Hotel and Entrepreneurship Investment (LHEI) Report showcasing data and research detailing Hispanic entrepreneurship, economic and population growth, and specific opportunities and barriers to Latino business ownership within and outside the hospitality industry. The LHEI report advocates for specific policy needs necessary for Latinos to navigate the steps required to own and invest successful...
Vespera Resort on Pismo Beach Promotes Alex Aviles to Executive Chef
Vespera Resort on Pismo Beach | February 15, 2023
PISMO BEACH, Calif. – Vespera Resort on Pismo Beach, an Autograph Collection Hotel on California’s Central Coast, is pleased to announce the appointment of Alex Aviles from sous chef to the position of executive chef for both its signature restaurant Pequín Coastal Cocina and for the resort. Aviles will develop menus and oversee all culinary operations for Pequín Coastal Cocina, which features innovative Baja coastal cuisine. The all-day restaurant serves dishes using regionally inspired, market-fresh seaside, farm and ranch ingredients and presents wines and beers produced throughout San Luis Obispo County. Aviles will supervise th...
STR: Abu Dhabi’s Hotel Performance Remained Steady in January
STR | February 15, 2023
LONDON – Abu Dhabi’s hotel occupancy remained roughly 5 percentage points lower than pre-pandemic levels, while average daily rate (ADR) and revenue per available room (RevPAR) far exceeded recent comparables for the month, according to preliminary January 2023 data from STR. Occupancy: 72.4% Average daily rate (ADR): AED508.45 Revenue per available room (RevPAR): AED368.16 Occupancy was slightly above January of last year (72.1%) but below the opening month of 2020 (77.6%) and 2019 (77.8%). The highest daily occupancy levels were seen on Monday, 16 January (88.5%) and Tuesday, 17 January (87.7%), which points to a higher ...
Baird/STR Hotel Stock Index Jumped 16.4% in January
Baird | February 15, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 16.4% in January to a level of 5,685. “Hotel stocks rebounded sharply in January and were significant outperformers as the back-and-forth recessionary concerns once again subsided to start the year,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Industry-wide RevPAR trends finished the year on a strong note despite tougher calendar comparisons and weather-related travel disruptions in December. Several Hotel REITs provided fourth-quarter operational updates, and performance generally was in line with prior expectations...
GlobalData Pares Back US Economy Growth to 0.3% in 2023
GlobalData | February 14, 2023
High inflation levels far above the Fed Reserve’s target of 2% and the consequent tightening of monetary policy, which has been hiked eight times from January 2022 to February 2023, will continue to dampen household spending and investments in the US, which will negatively impact the economic growth prospects. As a result, the real GDP growth of the US is set to slow down from 2.1% in 2022 to 0.3% in 2023, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, “Macroeconomic Outlook Report: United States,” reveals that the real household consumption expenditure increased by 2.4% in 2022 and is forec...
Manhattan Lodging Index: Q4 2022
PwC’s Manhattan lodging index | February 14, 2023
Manhattan Lodging Overview Increases in occupancy, ADR and revenue per available room (“RevPAR”) continued to accelerate across Manhattan during the second half of 2022. Q4 RevPAR experienced a year-over-year increase of 54.2 percent, with the strongest gains in October - up 85.8 percent. Q3 RevPAR increased 75.1 percent from the same period in 2021. “RevPAR exceeded pre-pandemic levels at Manhattan hotels for the first time in 2H 2022, driven by outsized growth in average daily room rates. Hotels continue to struggle with replacing staff lost during the pandemic. With supply growth expected to be muted over the next several years, ...
Detroit Lodging Market: On the Road to Recovery
Brandon Leversee | February 14, 2023
By Brandon Leversee, David Preiss The Detroit hotel market continued an upward trajectory in 2022 following a strong 2021. As illustrated below, RevPAR growth was driven by increasing average rates, with ADR exceeding pre-pandemic levels. Strong ADR levels were driven by Detroit’s tourism industry, which has shown the greatest recovery following the severe downturn in 2020 and early 2021. Visit Detroit reports that visitation numbers since the second quarter of 2022 have approached the pre-pandemic levels of 2019. However, occupancy growth has lagged the average for the U.S. and other top 25 markets in the Midwest, such as Indianapolis...
Sun Is Still Shining on Australia’s Hotel Industry
STR | February 13, 2023
Australia’s hotel performance turned a massive corner during the first half of 2022 as the Omicron wave subsided and governments relaxed travel restrictions around the country. That freedom translated to consumer confidence, which boosted hotel occupancy for the remainder of the year and further stimulated average daily rate (ADR). Occupancy increases, combined with labor shortages, broader inflationary pressures, a skew toward leisure demand, and consumers’ willingness to pay for experiences, pushed room rates to record highs. That leisure skew started to fade, however, as the year went on and demand broadened, giving furthe...
China Hotels Benefit From First Restriction-Free Lunar New Year in Three Years, More Success On the Way for APAC
STR | February 13, 2023
There was surprise around the globe when China announced the easing of most of its COVID restrictions in December 2022. That meant the end of a zero-COVID policy which had suppressed China hotel industry performance for almost three years. That also meant that January 2023 would feature China’s first Lunar New Year holiday without a lockdown since 2019, and as expected, positive performance developed for this important holiday period in the region. During the seven-day holiday period, starting from Lunar New Year’s Eve on 21 January, China’s hotel average daily rate (ADR) surpassed 2019 levels. Occupancy edged closer to ...
STR: U.S. Hotel Results for Week Ending 4 February
STR | February 13, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance fell slightly from the previous week, according to STR‘s latest data through 4 February. 29 January through 4 February 2023 (percentage change from comparable week in 2019*): Occupancy: 55.3% (-7.3%) Average daily rate (ADR): US$145.35 (+13.9%) Revenue per available room (RevPAR): US$80.45 (+5.6%) While none of the Top 25 Markets saw an occupancy increase over 2019, Las Vegas came closest to its 2019 comparable (-1.4% to 78.2%). The market also reported the highest ADR (+79.5% to US$221.38) and RevPAR (+76.9% to US$173.20) increases over 2019, helped by Design & Cons...
International Visitors Spent $16.5 Billion in December 2022
NTTO | February 13, 2023
Data recently released by the National Travel and Tourism Office (NTTO) show that in December2022: International visitors spent nearly $16.5 billion on travel to, and tourism-related activities within, the United States, an increase of nearly 49 percent compared to December 2021 and the single highest month for U.S. tourism-related exports since February 2020—the onset of the global pandemic. Americans spent more than $15.5 billion traveling abroad, yielding a balance of trade surplus of $932 million for the month. A summation of the twelve months in 2022 (preliminary data, subject to future revisions) suggests that international...
Phoenix Forecasted for Second-Highest Hotel RevPAR in Super Bowl History
STR | February 9, 2023
HENDERSONVILLE, Tennessee—Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend, according to STR. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. Even with 11.7% more supply in the market, a unique volume of demand is forecasted to push occupancy slightly higher than Phoenix’s last host year in 2015 (93.7%). The ADR level would rank third among host markets behind Miami in 2020 and San Francisco in 2016. “Phoenix...
Canadian Lodging Outlook Quarterly 2022-Q4
HVS | February 9, 2023
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504....
Miami and Qatar Markets Led the World in Hotel Profit Recovery in 2022
STR | February 8, 2023
LONDON—Miami and Qatar led the major global markets in hotel profit recovery for 2022, according to STR‘s full-year P&L data. Both markets’ gross operating profit per available room (GOPPAR) surpassed 2019 levels, with the metric reaching 155% of the 2019 comparable in Miami. Helped by the World Cup, Qatar’s GOPPAR indexed at 152%. Qatar is designated as a market in STR’s database due to its size and composition. Noted below are the key market outliers by each region: Europe Paris’ GOPPAR (US$173.02) was 123% of its comparable 2019 level. London (US$105.17) was the next closest market at 88%. Ber...
U.S. Hotel Revenues, Profits and Labor Costs Reached Record-Highs in 2022
STR | February 8, 2023
HENDERSONVILLE, Tennessee—Total U.S. hotel revenues, profits and labor costs reached an all-time high, according to STR‘s P&L data for 2022. With more supply in the market, the key profitability metrics each came in lower than their pre-pandemic comparable on a per-available-room basis. 2022 estimated totals Revenue: US$239.7 billion GOP: $101.3 billion EBITDA: US$74.8 billion Labor: US$70.9 billion 2022 per-available-room metrics (% change from 2019) GOPPAR: US$73.70 (-5.5%) TRevPAR: US$202.23 (-4.3%) EBITDA PAR: US$52.20 (-5.6%) LPAR (Labor Costs): US$65.94 (-7.6%) “Total revenues ...
Orlando Crowned Largest Travel & Tourism City Destination in America for 2022
WTTC | February 7, 2023
Dallas, US: The World Travel & Tourism Council (WTTC) today revealed Orlando is predicted to be the largest U.S. Travel and Tourism city destination in 2022 with an economic contribution of over $31 billion, representing 20% of the city’s total GDP and recovering above 2019 levels by $2.7 billion. The Cities Economic Impact Report, sponsored by Visa and researched in partnership with Oxford Economics, analyzed key Travel & Tourism metrics across 82 cities around the world, including contribution to GDP, employment and traveler spend. The report studied the sector’s impact in Orlando, Las Vegas, Miami, Chicago, New York City...
