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
STR: Jeddah’s Hotel Performance Surpassed Pre-Pandemic Levels in November
STR | December 12, 2022
LONDON – Jeddah’s hotel performance came in lower than the month prior but surpassed pre-pandemic comparables, according to preliminary November 2022 data from STR. Occupancy: 54.5% Average daily rate (ADR): SAR586.71 Revenue per available room (RevPAR): SAR319.50 The market’s occupancy level was its lowest since April 2022, while ADR and RevPAR were the lowest since February 2022. Each of the three key performance metrics, however, surpassed the 2019 comparable: occupancy (+16.2%), ADR (+13.0%) and RevPAR (+31.3%). When looking at daily data, the highest occupancy level (75.2%) was recorded on Wednesday, 30 November ...
STR: Sydney Hotels Recorded Highest Performance of Pandemic-Era in November
STR | December 12, 2022
LONDON—Sydney’s hotel industry recorded its highest performance levels of the pandemic-era, according to preliminary November 2022 data from STR. Occupancy: 79.8% Average daily rate (ADR): AUD273.07 Revenue per available room (RevPAR): AUD217.79 The market’s ADR level was the highest for any month on record except for September 2000, when it hosted the Sydney Olympics. Occupancy and RevPAR were the highest since November 2019 and February 2019, respectively. Despite the pandemic-era high, occupancy remained 7.9% below the 2019 comparable. When looking at daily data, Sydney recorded 27 days of occupancy levels above 70%...
STR: Berlin Hotel Performance Fell in November
STR | December 12, 2022
LONDON – Berlin’s hotel industry reported lower performance month over month, according to preliminary November 2022 data from STR. Occupancy: 69.0% Average daily rate (ADR): EUR109.75 Revenue per available room (RevPAR): EUR75.73 The market’s ADR level surpassed the 2019 comparable (+13.7%), but occupancy and RevPAR remained below November 2019 by 15.8% and 4.4%, respectively. Berlin hotels continue to show strong weekday levels, which points to increased business demand. The highest daily occupancy levels for the month were recorded on 9 and 24 November, at 86.1% and 82.3%, respectively. More of STR’s analysis...
ITA Data Release: September 2022 Total International Travel Volume
National Travel and Tourism Office (NTTO) | December 9, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in September 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 4,874,485, increased 159.6% compared to September 2021 and rose to 72.7% of the pre-COVID total visitor volume reported for September 2019, up from the prior month’s 70.2%. Overseas visitor volume to the United States of 2,288,874 increased 220.1% from September 2021. September 2022 was the eighteenth consecutive month that total non-U.S. resident international arrivals to the United States increased on a ye...
Hotel Market Recovery Monitor – 3 December 2022
STR | December 9, 2022
Key Takeaways Room demand growth in the U.S. came in below expectations but was still strong Weekdays were weak, partly due to less group business Many Top 25 Markets showed a sizeable occupancy gap to 2019 ADR grew below inflation again U.S. Upscale hotels performed quite well Global occupancy dipped a bit more The U.K. led Europe in occupancy The Middle posted strong occupancy The week after Thanksgiving (27 November-3 December) was somewhat typical for the U.S. hotel industry. Occupancy increased to 55.4% from 50.3% in the week prior. Room demand was up 10% week over week (WoW), which was below our ex...
As Business Travel Advances, Consumers Indicate Combination Trips Will Lead Further Gains
STR | December 8, 2022
Nearly two years have passed since STR published its first business travel recovery blog under the headline, “Waiting for Business Travel to Return.” Now 11 months into 2022, the wait for that return has been over for some time although further gains are needed to reach pre-pandemic levels. According to consumers, those gains are on the way with combination business/leisure trips representing the biggest increase. The current state A key barometer of business travel, weekday hotel occupancy (Monday-Wednesday) has improved in the post-summer months with September and October producing levels just four percent below the 201...
STR: U.S. Hotel Results for Week Ending 3 December
STR | December 8, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance came in higher than the previous week but showed weakened comparisons to 2019, according to STR‘s latest data through 3 December. 27 November through 3 December 2022 (percentage change from comparable week in 2019*): Occupancy: 55.4% (-7.7%) Average daily rate (ADR): US$141.71 (+10.2%) Revenue per available room (RevPAR): US$78.50 (+1.7%) Among the Top 25 Markets, New Orleans reported the only occupancy increase over 2019 (+1.1% to 67.2%). Miami posted the highest ADR (+33.1% to US$374.88) and RevPAR (+25.1% to US$301.26) increases over 2019. The largest ...
Monthly U.S. Meetings and Events Volume Beats 2019 Levels for the First Time Since the Pandemic, According to Knowland
Knowland | December 7, 2022
November 2022 reaches 103.1 percent of 2019 event volume ARLINGTON, Va. — Dec. 7, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its U.S. monthly meetings and events data for November, reporting that November 2022 achieved 103.1 percent of November 2019 volume, exceeding monthly pre-pandemic levels for the first time. Knowland reports November this year with 122.5 percent growth over November 2021. In line with native seasonality, November 2022 declined by 11 percent over October 2022. • Increase over 2019 in average attendees per event – The average...
STR: U.S. Hotel Results for Week Ending 26 November
STR | December 1, 2022
HENDERSONVILLE, Tennessee—Due to the Thanksgiving holiday, U.S. hotel performance came in lower than the previous week and showed mixed comparisons to 2019, according to STR‘s latest data through 26 November. 20-26 November 2022 (percentage change from comparable week in 2019*): Occupancy: 50.4% (-0.5%) Average daily rate (ADR): US$135.49 (+20.4%) Revenue per available room (RevPAR): US$68.27 (+19.9%) Among the Top 25 Markets, Minneapolis reported the largest occupancy increase over 2019 (+7.6% to 42.0%). Phoenix posted the highest ADR (+42.7% to US$151.24) and RevPAR (+44.8% to US$85.05) increases over 20...
Amid Worsening Economic Outlook, Excessive Visa Wait Times Deter Visitors to the U.S.
U.S. Travel Association | November 30, 2022
WASHINGTON (November 30, 2022)—U.S. Travel Association’s biannual travel forecast shows a significant downgrade in international inbound travel for the rest of 2022 and 2023—a worrying trend caused by economic concerns and exacerbated by excessive wait times for first-time visa applicants. Potential visitors from top source markets—including Brazil, India and Mexico—currently confront 400-800-day wait times to meet with U.S. Consular officials. “While economic concerns are natural, excessive visitor visa wait times are a manmade obstacle that the Biden administration seemingly refuses to address,” said U.S. Travel Associatio...
Can Hotel ADRs Overcome High Inflation?
Shaffer Patrick | November 28, 2022
By Shaffer Patrick, Sophie Perret Many global economies are going through a period of high inflation, brought on by macroeconomic factors such as government stimulus and global supply shocks. We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? We have used London as a case study to understand the relationship between inflation and hotel ADRs (average daily rates). We analysed trends over the long term (1973-2022) as well as over specific periods of economic prosperity and strife to draw conclusions about what the...
U.S. Top 25 Markets Still Behind 2019 Occupancy Even With Continued Return of Groups
STR | November 23, 2022
U.S. hotel occupancy leaders and laggards in this mid-November 2022 “bubble” chart update reflect anticipated seasonal shifts, the continued return of corporate and group demand in large-to-medium sized markets, and a persistent impact from Hurricane Ian. Additionally, the Top 25 Markets mostly trailed 2019 occupancy levels whereas a solid majority of markets outside of the Top 25 were ahead of the pre-pandemic comparable. Among those Top 25 Markets, New York City continued its firm hold as autumn’s top occupancy market at a level of 84.7% for the four weeks ending 12 November—a small gain from the previous four weeks. In...
STR: Canada Hotel Performance Recovery Continued in October
STR | November 23, 2022
HENDERSONVILLE, Tennessee—Following seasonal patterns, Canada’s hotel performance fell from the month prior but average daily rate (ADR) and revenue per available room (RevPAR) were higher than the pre-pandemic comparables, according to STR’s October 2022 data. October 2022 (percentage change from October 2019) Occupancy: 66.8% (-1.0%) Average daily rate (ADR): CAD179.70 (+13.3%) Revenue per available room (RevPAR): CAD120.05 (+12.3%) “With the height of summer travel behind us, Canada’s lower hotel performance in October was expected,” said Laura Baxter, CoStar Group’s director of hospitality analytics for ...
STR, TE Maintain ADR and RevPAR Forecast in the Last Revision of 2022
STR | November 22, 2022
HENDERSONVILLE, Tennessee—STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022. Revenue per available room (RevPAR) remains on track for full recovery this year on a nominal basis but not until 2025 when adjusted for inflation. The updated forecast lowered occupancy by less than a percentage point for 2022. “As expected, group business travel has been much more aligned with pre-pandemic patterns, specifically in October when group demand hit a pandemic-era high,” sa...
PWC US Hospitality Directions: November 2022
PwC Hospitality Directions | November 21, 2022
Through Q3 2022, the US hotel industry has exceeded 2019 (pre-pandemic) RevPAR levels by 6.4 percent, based on data from STR. The recovery narrative continues to be centered around room rates. While occupancy through Q3 2022 was 3.8 points below the same period in 2019, ADR had increased 12.8 percent. Following over two years of travel constraints, the US government significantly eased restrictions earlier this summer. As of June 12, 2022 air passengers were no longer required to get tested for COVID-19 (no more than 24 hours in advance), show a negative test result, or show documentation of recovery from the virus, before boarding a fligh...
STR: U.S. Hotel Performance for October 2022
STR | November 18, 2022
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior but weakened comparisons with 2019, according to October 2022 data from STR. October 2022 (percentage change from October 2019): Occupancy: 67.2% (-2.4%) Average daily rate (ADR): US$155.63 (+16.8%) Revenue per available room (RevPAR): US$104.59 (+14.0%) Among the Top 25 Markets, New York City experienced the highest occupancy level (84.3%), which was down 6.8% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included Minneapolis (60.3%), Houston (62.2%), and St. Louis (62.2%)....
Baird/STR Hotel Stock Index Jumped 15.8% in October
Baird | November 17, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 15.8% in October to a level of 5,286. Year to date through the first 10 months of 2022, the stock index was down 8.0%. “October was a strong rebound month for hotel stocks, and they recouped all their losses from the prior two months,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Importantly, both the global hotel brands and the hotel REITs were relative outperformers versus their respective benchmarks in October. As investors shifted their focus from broader macroeconomic uncertainties to sector-specific p...
STR: U.S. Hotel Results for Week Ending 12 November
STR | November 17, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance came in higher than the previous week and showed improved comparisons to 2019, according to STR‘s latest data through 12 November. 6-12 November 2022 (percentage change from comparable week in 2019*): Occupancy: 64.6% (+0.9%) Average daily rate (ADR): US$148.43 (+17.1%) Revenue per available room (RevPAR): US$95.89 (+18.2%) Among the Top 25 Markets, Norfolk/Virginia Beach reported the largest occupancy increase over 2019 (+14.3% to 63.6%). San Diego posted the largest ADR increase over 2019 (+35.2% to US$202.86). The steepest RevPAR declines were in San Fr...
STR: Riyadh’s Hotel Industry Showed Improved Performance in October
STR | November 16, 2022
LONDON – Riyadh’s hotel industry showed improved performance from the month prior, according to preliminary October 2022 data from STR. Occupancy: 72.3% Average daily rate (ADR): SAR771.24 Revenue per available room (RevPAR): SAR557.28 The market’s ADR and RevPAR levels surpassed the pre-pandemic comparable, while occupancy remained slightly below October 2019 (-4.0%). Occupancy and ADR were the highest for any month since March 2022, while RevPAR was the highest since May 2011. More of STR’s analysis can be found here....
The Service Robotics Industry Will Reach $216B in 2030, Transforming the Travel and Tourism industry, but human staff will not be replaced
GlobalData | November 16, 2022
The service robotics industry is set to register a compound annual growth rate (CAGR) of 21.5% to reach $216 billion in 2030, driven by investments across consumer facing industries, including travel and tourism. The overall robotics industry is set to grow from $70 billion in 2022 to $568 billion in 2030, says GlobalData, a leading data and analytics company. GlobalData’s latest report “Robotics in Travel and Tourism,” reveals that consumer robots, logistics robots, drones, and inspection, cleaning, and maintenance robots will receive the most investment from companies across the travel and tourism value chain. Sarah Coop, Analys...
STR: Melbourne Hotels Post Best Performance of the Pandemic-Era
STR | November 15, 2022
ADELAIDE—Melbourne’s hotel performance reached a pandemic-era high, according to preliminary October 2022 data from STR. Occupancy: 69.9% Average daily rate (ADR): AUD232.07 Revenue per available room (RevPAR): AUD162.21 The market’s ADR level was the highest for any month on record, while occupancy and RevPAR were the highest since February 2020 and November 2019, respectively. While improved, occupancy remained 17.5% below the pre-pandemic comparable. More of STR’s analysis can be found here....
STR: London’s Hotel ADR and RevPAR Surpassed Pre-Pandemic Levels in October
STR | November 15, 2022
LONDON – London’s hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the pre-pandemic comparable, according to preliminary October 2022 data from STR. Occupancy: 83.8% Average daily rate (ADR): GBP199.95 Revenue per available room (RevPAR): GBP167.60 The market’s occupancy and RevPAR levels came in higher than the month prior, but occupancy remained 4.0% below the 2019 comparable. When looking at daily data, the market continued to show high occupancy levels on Tuesdays and Wednesdays, pointing to business demand, with the highest daily occupancy for the month (93.0%) recorded...
Ireland’s Hotel Industry Is Well-Positioned Heading Into 2023
STR | November 14, 2022
A turbulent two years due to the pandemic proved to be the ultimate test of resilience and business continuity for hotels in Ireland. This year, however, has produced a strong recovery despite a difficult start and ongoing global macroeconomic uncertainty. Hotels in Ireland have been successful in navigating the choppy waters as evidenced by the performance recorded thus far in 2022. Dublin The capital has posted strong levels of recovery with performance exceeding 2019 levels in recent months. Many events in the early part of the year were rescheduled from the previous two years. Furthermore, a strong eve...
STR: U.S. Hotel Results for Week Ending 5 November
STR | November 10, 2022
HENDERSONVILLE, Tennessee—As expected due to the Halloween calendar shift, U.S. hotel performance came in lower than the previous week and showed weakened comparisons to 2019, according to STR‘s latest data through 5 November. 30 October through 5 November 2022 (percentage change from comparable week in 2019*): Occupancy: 62.4% (-9.2%) Average daily rate (ADR): US$147.48 (+11.4%) Revenue per available room (RevPAR): US$91.99 (+1.1%) While none of the Top 25 Markets showed an occupancy increase over 2019, Tampa came closest to its pre-pandemic comparable (-1.0% to 72.4%). Miami posted the largest ADR increase ov...
