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: U.S. Hotel Results for Week Ending 8 October
STR | October 13, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week but produced mixed comparisons with 2019, according to STR‘s latest data through 8 October. 2-8 October 2022 (percentage change from comparable week in 2019*): Occupancy: 68.2% (-3.5%) Average daily rate (ADR): US$153.79 (+16.9%) Revenue per available room (RevPAR): US$104.83 (+12.8%) While weekday performance showed an expected decline due to Yom Kippur, school breaks and the extended holiday weekend helped lift levels on Friday and Saturday. Performance levels in Florida were also lifted by post-Hurricane Ian demand. Further analysis will...
Knowland’s Q3 Meeting Recovery Forecast Indicates Strongest Growth Thus Far in 2022
Knowland | October 12, 2022
Q3 performance drives increase and positions 2023 to be a year of growth for hospitality meetings and events ARLINGTON, Va. — Oct. 12, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released the quarterly update to its U.S. Meetings Recovery Forecast (MRF) and associated Top 25 U.S. Meetings Recovery Forecast (MRF25) showing stable performance pushing slightly ahead of the Q2 forecast. Click here to view the most current forecasts. Kristi White, chief product officer, Knowland, said: “The third quarter was the strongest of the year. Each month the recovery to ...
Most Global Markets Maintain Recovery Pace, Asia Pacific Starting to Come Back
STR | October 7, 2022
STR’s global bubble chart update shows steady top-line performance indicators around much of the world during the four weeks ending 24 September 2022. While most countries maintained their recovery pace since our previous update, China’s struggles continued while other Asian countries saw a pickup in recovery pace. Among the 48 countries with room supply of more than 50,000 hotel rooms, 12 posted occupancy above 75%, which was one more than the previous 28-day period. Average daily rate (ADR) softened after the summer peak as only four countries recorded a level of $250 or above, which was two countries less than previous fou...
STR: U.S. Hotel Results for Week Ending 1 October
STR | October 6, 2022
HENDERSONVILLE, Tennessee—As expected with the Rosh Hashanah holiday, U.S. hotel performance dropped from the previous week and showed mixed comparisons with 2019, according to STR‘s latest data through 1 October. 25 September through 1 October 2022 (percentage change from comparable week in 2019*): Occupancy: 66.4% (-2.4%) Average daily rate (ADR): US$149.71 (+15.7%) Revenue per available room (RevPAR): US$99.36 (+12.9%) In addition to the Rosh Hashanah impact on business travel and groups in the major markets, there were demand shifts in the southeast region due to Hurricane Ian. STR’s Market Recovery Monitor will ...
International Visitors Spent $13.7 Billion in August 2022
National Travel and Tourism Office (NTTO) | October 6, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in August 2022: International visitors spent more than $13.7 billion on travel to, and tourism-related activities within, the United States, an increase of nearly 103% compared to August 2021. Americans spent $13.4 billion traveling abroad, yielding a balance of trade surplus of $360 million for the month—the second consecutive monthly balance of trade surplus for U.S. travel and tourism. Year to date (January through August 2022), international visitors have spent more than $97.2 billion on U.S. travel and tourism-related goods and services (up mo...
Fragile Global Economy Clamps Down on Hotel Performance
HotStats | October 5, 2022
The global economy is on shaky ground and is having an unsettling impact on already fragile hotel performance footing. HotStats’ August performance data showed that both revenue and profit were following a normal, typical summer seasonal pattern, but unrestrained inflation, higher interest rates and foundering financial markets augur a potential global recession that could derail the ongoing hotel comeback. In Europe, strong profit numbers in June and July, which eclipsed 2019 numbers, gave way to a drop in August to €68.78, which was still higher than at the same time in 2019 and followed a normal pattern that should show a pickup ...
School Break Data Suggests Subtle Boosts, Sizable Squeezes to Travel Demand During Fall 2022
STR | October 5, 2022
With the Fall 2022 school semester in full swing, STR’s School Break Report can help hoteliers, destinations, and anyone invested in the travel industry predict trends and swings for travel demand during the fall break season. With the bigger COVID-related shifts seen over the last couple years finally simmering down, locking in on the more subtle shifts this year will be crucial to planning ahead. As of late September, no major shifts have been seen regarding the percentage of public school district (K-12) students out of session and available to travel when comparing year over year. There was little movement seen around the...
Lisbon Hotels See Strong Performance Post-Pandemic as City’s Popularity Grows
HVS | October 5, 2022
5 October 2022, London: With nearly 2,500 new hotel rooms due to open over the next 18 months the Portuguese capital of Lisbon will continue to attract keen interest from investors as the popularity of the city grows, according to a new report from HVS. The Market Pulse report, Lisbon Hotel Market Returns to Grace, shows that the city has experienced strong post-pandemic recovery during the second half of 2021 and to date this year, largely due to its appeal to both leisure and increasingly business travellers. As one of Europe’s most ancient cities Lisbon offers a variety of cultural, architectural and business-related attractions tog...
Monthly Meeting Volume Reaches 89.5 Percent of 2019 Levels According to Knowland
Knowland | October 5, 2022
September meetings and events increase 23.7 percent over August 2022, a significant sign that the industry is moving towards full recovery ARLINGTON, Va. — Oct. 5, 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 September, reporting 135.4 percent growth over September 2021. Additionally, September 2022 grew by 23.7 percent over August 2022. • Increase over 2019 in average attendees per event – The average number of attendees per event for September 2022 was 118, compared to 112 in September 2021 and 97...
Boston & Cambridge Lodging Market: Five Things to Know Heading Into Q4
Sebastian Colella | October 3, 2022
By Sebastian J. Colella Until late spring of this year, the Boston & Cambridge lodging market had been one of the country’s slowest to recover. Due to a number of factors, the market experienced very strong results in Q2 and Q3 and looks to continue those trends in the Q4. 1. Uneven Recovery: Much has been reported on the uneven recovery throughout the country’s lodging markets. The recovery across the different submarkets that make up the Boston & Cambridge lodging market has been equally distorted. Through August, the Fenway/Longwood and the Back Bay submarkets, two more leisure-oriented areas, lead the pack in the market’...
STR: U.S. Hotel Results for Week Ending 24 September
STR | September 29, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week and showed improved comparisons with 2019, according to STR‘s latest data through 24 September. 18-24 September 2022 (percentage change from comparable week in 2019*): Occupancy: 70.0% (-1.5%) Average daily rate (ADR): US$157.99 (+15.7%) Revenue per available room (RevPAR): US$110.60 (+13.9%) Among the Top 25 Markets, Orlando reported the highest occupancy increase over 2019 (+7.9% to 72.2%). Of note, New York City saw the highest absolute occupancy level (89.9%), which was helped by the High-Level Week of the United Nations Gene...
STR: Canada Hotel Occupancy Reached Three-Year High in August
STR | September 27, 2022
HENDERSONVILLE, Tennessee—Canada’s monthly hotel occupancy reached its highest absolute level for any month since August 2019, according to STR’s August 2022 data. August 2022 (percentage change from July 2019) Occupancy: 76.4% (-3.0%) Average daily rate (ADR): CAD212.38 (+14.6%) Revenue per available room (RevPAR): CAD162.36 (+11.2%) Compared with July, each of the three key performance metrics showed weakened comparisons with 2019. When adjusted for inflation, ADR was up 2.7% against the pre-pandemic comparable. "August is typically the seasonal peak for key performance indicators in Canada," said Laura Baxter,...
On Track for Recovery in Indianapolis
Brian Arevalo | September 27, 2022
By Brian Arevalo Following a record-breaking year in 2019, the hospitality sector in Indianapolis experienced a devasting blow in 2020 because of the COVID-19 pandemic. Downtown Indianapolis was particularly hard hit due to its heavy reliance on citywide conventions, sporting events, and other events to fill hotel rooms. However, as restrictions were lifted and leisure travel, in particular, began to rebound, the market saw improvement in 2021. While occupancy levels remained well below 2019 levels, average rate increased significantly, resulting in healthy RevPAR growth. This rate growth was driven largely by the opening of the Bottlewo...
Strong Rate Growth and New Travelers Discovering New York State’s Resort Markets
Christian Cross | September 26, 2022
By Christian Cross While New York City and its metropolitan area have largely steered the conversation around New York State’s pandemic recovery, with some secondary discussion of larger markets such as Buffalo, Rochester, Albany, and Syracuse, in my opinion, the state’s resort markets have been the most interesting and have offered some of the biggest surprises to me and local market participants. I moved back to New York State to launch our firm’s Buffalo office in the middle of the pandemic and began working on assignments in the Finger Lakes, the Adirondacks, and the Catskills/Hudson Valley regions. While each individual ...
Amadeus Launches the World’s Most Comprehensive Air Traffic Forecast
Amadeus | September 26, 2022
Building on Amadeus’ comprehensive air travel data, the newly launched Air Traffic Forecast provides tourism and hospitality businesses with a holistic view of global travel movement across the world. September 26, 2022 –By combining air travel data and hotel data, tourism and hospitality organizations can gain comprehensive insights into air travel patterns and trends including air search, capacity, number of flights, bookings, and arrivals and derive correlations to hotels’ occupancy and demand. New air traffic data provides a 6-month forward-looking, global view of the estimated number of air passengers traveling, part of the h...
Labor Day Strength Pushes NYC Into Top 25 RevPAR Lead, Leisure Markets Dominated Everywhere Else
STR | September 23, 2022
For this edition of STR’s U.S. “bubble” chart update, we returned the focus to revenue per available room (RevPAR), a core indicator of the general financial health of hotel markets. For the four weeks ending 10 September, there was an expected seasonal softening from the mid-summer travel peak. In fact, only six of the 165 STR-defined U.S. markets saw month-over-month RevPAR increases for the period, which included the Labor Day holiday. That holiday typically produces major decreases in industry demand—especially weekday business travel—as well as marks an informal end to summer travel. Among the U.S. Top 25 Markets, ...
STR: U.S. Hotel Results for Week Ending 17 September
STR | September 22, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week and showed improved comparisons with 2019, according to STR‘s latest data through 17 September. 11-17 September 2022 (percentage change from comparable week in 2019*): Occupancy: 69.6% (-2.4%) Average daily rate (ADR): US$155.58 (+15.6%) Revenue per available room (RevPAR): US$108.25 (+12.9%) Among the Top 25 Markets, Norfolk/Virginia Beach reported the highest occupancy increase over 2019 (+6.6% to 70.9%). Miami reported the largest ADR gain over 2019 (+30.7% to US$177.10). The steepest RevPAR declines were in San Francisco ...
STR: U.S. Hotel Performance for August 2022
STR | September 20, 2022
HENDERSONVILLE, Tennessee—Following seasonal patterns, the U.S. hotel industry reported lower performance from the month prior, according to August 2022 data from STR. August 2022 (percentage change from August 2019): Occupancy: 66.5% (-6.7%) Average daily rate (ADR): US$151.49 (+14.0%) Revenue per available room (RevPAR): US$100.67 (+6.3%) Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (81.6%), which was down 8.3% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included New Orleans (47.3%) and Houston (55.3%). New Orleans reported the steepest...
STR: Melbourne’s Hotel Performance Fell in August
STR | September 19, 2022
ADELAIDE—Melbourne’s hotel performance fell from the previous month, but room rates remained well above the pre-pandemic comparable, according to preliminary August 2022 data from STR. Occupancy: 59.0% Average daily rate (ADR): AUD207.05 Revenue per available room (RevPAR): AUD122.10 While ADR was higher than August 2019, the occupancy and RevPAR levels remained below the pre-pandemic comparables at -27.3% and -16.1%, respectively. When looking at daily data, the highest occupancy level was recorded on Saturday, 20 August (80.6%). The market’s daily occupancy levels remained above 50% for the month, with just five days...
STR: Abu Dhabi Hotels Recorded Higher Occupancy in August
STR | September 19, 2022
LONDON – Abu Dhabi’s hotel industry recorded higher occupancy than the month prior, but lower room rates, according to preliminary August 2022 data from STR. Occupancy: 65.2% Average daily rate (ADR): AED335.49 Revenue per available room (RevPAR): AED218.90 Despite the month-over-month increase, the occupancy level remained slightly below the pre-pandemic comparable (-2.8%). RevPAR also came in higher than the prior month and was 2.7% above the August 2019 level. While ADR surpassed the pre-pandemic comparable (+5.6%), it was the lowest level for any month since September 2021. All of STR’s COVID-19 analysis can be fou...
STR: London Hotel Performance Dipped in August
STR | September 15, 2022
LONDON—Aligned with seasonal patterns, London’s hotel performance came in lower than the peak seen during the previous month, according to preliminary August 2022 data from STR. Occupancy: 77.1% Average daily rate (ADR): GBP179.49 Revenue per available room (RevPAR): GBP138.37 Despite the decrease from July, both the ADR and RevPAR levels remained well above pre-pandemic comparables at +19.4% and +6.9%, respectively. Occupancy was 10.5% below August 2019, which was a steeper decline than the month prior. When looking at daily data, Saturdays showed the highest occupancy, including a level of 87.2% on 13 August. More...
STR: U.S. Hotel Results for Week Ending 10 September
STR | September 15, 2022
HENDERSONVILLE, Tennessee—As expected with the Labor Day calendar shift, U.S. hotel performance fell slightly from the previous week and showed weakened comparisons with 2019, according to STR‘s latest data through 10 September. 4-10 September 2022 (percentage change from comparable week in 2019*): Occupancy: 61.7% (-11.2%) Average daily rate (ADR): US$146.80 (+10.6%) Revenue per available room (RevPAR): US$90.50 (-1.8%) Among the Top 25 Markets, Orlando reported the only occupancy increase over 2019 (+1.5% to 59.3%). Miami reported the largest ADR gain over 2019 (+34.1% to US$175.85). San Francisco (-39.6%...
More Global Markets Above Pre-Pandemic Occupancy Levels, Highest RevPAR in Mediterranean-Facing Countries
STR | September 13, 2022
STR’s latest global bubble chart update shows strong top-line performance indicators for much of the world during the four weeks ending 20 August 2022. Among the developments since our previous update, countries around the Mediterranean region led in overall performance, while more markets overall eclipsed pre-pandemic levels of occupancy. Among the 48 countries with room supply of more than 50,000 hotel rooms, 11 reported occupancy above 75%, which was four more than the previous 28-day period. Greece, Italy, France, and Croatia remained in the top five performing countries on a revenue-per-available-room (RevPAR) basis with I...
STR: London Hotel Rates Exceeded Pre-Pandemic Levels in July
STR | September 13, 2022
LONDON – London’s hotel room rates came in higher than the pre-pandemic comparable, according to preliminary August 2022 data from STR. Occupancy: 77.1% Average daily rate (ADR): GBP179.49 Revenue per available room (RevPAR): GBP138.37 Following seasonal patterns, each of the key performance metrics fell from July. Both the ADR and RevPAR levels, however, surpassed the pre-pandemic comparable, +19.4% and +6.9%, respectively. Occupancy remained 10.5% below August 2019. When looking at daily data, the market’s occupancy levels were above 60%, with Saturdays showing the highest levels in the metric. The highest daily o...
