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
Q2 2022 Major U.S. Hotel Sales Survey
Daniel Lesser | July 26, 2022
By Daniel Lesser With the first half of the year now in the books, 2022 has thus far provided an unexpected and tumultuous ride. It was only six months ago when the S&P 500 reached all-time highs in a world where lingering supply chain pressures and potential COVID outbreaks seemed to be the two most pressing risks to economies across the globe. While those two dangers are abating, a refreshed slate of macro-overhangs may be more daunting than ever. Included are the ongoing war in Ukraine, rising interest rates and soaring levels of inflation. Although the U.S. is not technically in an economic recession yet, many feel angst due to ...
U.S. Leisure Markets Maintain Summer Strength While Some Major Cities Make a Push as Well
July 26, 2022
While the calendar shows that the summer of 2022 is pushing toward its conclusion, travel season remains in high gear around the U.S. Aligned with that season, the latest four-week “bubble” charts from STR show that leisure-oriented travel remains the predominant force behind the top performing U.S. hotel markets. For the four-week period ending with 16 July, Oahu led the Top 25 Markets in average occupancy (84.2%) with a conspicuous boost during the Fourth of July holiday—the same period when most markets saw expected and significant demand declines. Oahu’s recent four-week occupancy also gained 9.3 percentage points ove...
Many European Travelers Likely to Budget More When Booking a Holiday Due to Inflation, Says GlobalData
GlobalData | July 22, 2022
With national inflation rates increasing dramatically in recent months across Europe, the purchasing of cheaper tourism related products and services has allowed many European travelers to satisfy their desire of holidaying abroad while ensuring they can make ends meet back at home, found GlobalData, a leading data and analytics company. Ralph Hollister, Travel and Tourism Analyst at GlobalData, comments: “This level of inflation would be expected to severely dampen demand for international travel. However, stories of packed airports across Europe continue to emerge, demonstrating that the pandemic induced demand for international trave...
U.S. Hotel Construction Continued on a Downward Trajectory in June
STR | July 22, 2022
HENDERSONVILLE, Tennessee—While U.S. hotel construction has declined for seven consecutive months, rooms in construction in both New York City and Nashville represent a significant percentage of those markets’ existing supply. Additionally, planning activity continues to rise nationally, albeit at a slower pace, with markets such as Miami, Nashville and Phoenix showing increased interest from developers, according to STR. U.S. Hotel Pipeline June 2022 (percentage change in comparison with June 2021): In Construction: 149,198 rooms (-20.1%) Final Planning: 178,809 rooms (-11.3%) Planning: 281,190 rooms (+6.1%) ...
STR: U.S. Hotel Results for Week Ending 16 July
STR | July 21, 2022
HENDERSONVILLE, Tennessee—After two consecutive weeks of lower demand around the Fourth of July holiday, U.S. hotel performance bounced back from the previous week, according to STR‘s latest data through 16 July. 10-16 July 2022 (percentage change from comparable week in 2019*): Occupancy: 72.0% (-7.4%) Average daily rate (ADR): US$157.23 (+14.9%) Revenue per available room (RevPAR): US$113.28 (+6.4%) Among the Top 25 Markets, San Diego reported the only occupancy increase over 2019 (+1.0% to 89.9%). San Diego (89.9%), Oahu Island (87.2%) and Seattle (85.8%) led the major markets in absolute occupancy for th...
WTTC Reveals New Data Signaling the Recovery of International Travel to the U.S.
WTTC | July 20, 2022
After testing removal, inbound international flight bookings to the U.S. see 93% surge However, recovery still lags other international travel destinations and pre-pandemic levels DALLAS (July 20, 2022) – New data released today by the World Travel & Tourism Council (WTTC) and its partner ForwardKeys on international flight booking trends, reveals the long-awaited recovery of international traveler spending in the U.S. is finally underway. According to the research, inbound travelers are returning in droves after the U.S. government dropped the requirement to COVID test before entry. But while ForwardKeys’ data shows book...
Hotel Pipeline Activity Down Across the Global Regions
STR | July 20, 2022
LONDON—Each of the four world regions showed a year-over-year decline in hotel pipeline activity at the end of the second quarter, according to June 2022 data from STR. June 2022 (% changes in comparison with June 2021) Europe In Construction: 207,315 rooms (-12.6%) Final Planning: 150,164 rooms (-15.2%) Planning: 163,380 rooms (+10.6%) Total Under Contract: 520,859 (-7.4%) Germany (40,729) and the U.K. (28,612) lead Europe in total rooms in construction. Asia Pacific In Construction: 486,412 rooms (+2.1%) Final Planning: 128,808 rooms (-29.0%) Planning: 302,499 rooms (+11.5%) Total Under Contract: 9...
STR: U.S. Hotel Performance for June 2022
STR | July 19, 2022
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported its highest monthly room rates on record, according to June 2022 data from STR. June 2022 (percentage change from June 2019): Occupancy: 70.1% (-4.3%) Average daily rate (ADR): US$155.04 (+15.3%) Revenue per available room (RevPAR): US$108.64 (+10.3%) The country also reported an all-time high RevPAR level, while occupancy was the highest since August 2019. Among the Top 25 Markets, New York City experienced the highest occupancy level (83.7%), which was down 7.4% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included ...
STR: Riyadh Hotels Reported Higher Occupancy in June
STR | July 15, 2022
LONDON—Riyadh’s hotel industry reported higher occupancy than the month prior, but lower room rates, according to preliminary June 2022 data from STR. Occupancy: 56.5% Average daily rate (ADR): SAR580.61 Revenue per available room (RevPAR): SAR328.17 While ADR and RevPAR fell month over month, each of the three key performance metrics came in higher than the pre-pandemic comparable. All of STR’s COVID-19 analysis can be found here....
STR: Melbourne Hotel Performance Improved in June
STR | July 15, 2022
ADELAIDE—Melbourne’s hotel industry was back on the recovery track with higher performance from the prior month, according to preliminary June 2022 data from STR. Occupancy: 61.1% Average daily rate (ADR): AUD210.54 Revenue per available room (RevPAR): AUD128.72 The occupancy level was well below the 2019 comparable (72.2%) while ADR was up by AUD42. When looking at daily data, Melbourne hotels saw 29 days of occupancy levels above 50%. While demand continues to strengthen each month, occupancy growth has been slightly muted due to increases in supply. As of 4 July, STR’s Forward STAR data shows the remainder of t...
ITA Data Release: May 2022 International Inbound Visitor Spending
National Travel and Tourism Office (NTTO) | July 15, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in May 2022: International visitors spent $12.6 billion on travel to, and tourism-related activities within, the United States, an increase of nearly 105 percent compared to May 2021. Americans spent $12.4 billion traveling abroad, yielding a balance of trade surplus of $245 million for the month—the seventh consecutive month during which the United States enjoyed a balance of trade surplus for travel and tourism. Year to date (January through May 2022), international visitors have spent $55.5 billion on U.S. travel and tourism-related goods and s...
Quieting the Noise in Economic Impact Estimates
Thomas A. Hazinski | July 14, 2022
By Thomas A. Hazinski An assessment of the accuracy of traditional approaches to valuing the economic contribution of convention, sports, and entertainment venues reveals significant limitations of economic impact models that tend to produce noisy and sometimes biased estimates. Improved methodologies and the effective use of available data sources that address some of these limitations can provide more reliable estimates. Venue owners and destination market organizations need improved methodologies to estimate the return on public sector investment in capital improvements, marketing and sales, and venue operations. State and local gove...
STR: U.S. Hotel Results for Week Ending 9 July
STR | July 14, 2022
HENDERSONVILLE, Tennessee—As expected on the negative side of a holiday calendar shift, U.S. hotel performance came in lower than the previous week, according to STR‘s latest data through 9 July. 3-9 July 2022 (percentage change from comparable week in 2019*): Occupancy: 63.3% (-14.5%) Average daily rate (ADR): US$153.71 (+15.7%) Revenue per available room (RevPAR): US$97.37 (-1.1%) Whereas the previous week’s percentage changes were elevated on the favorable side of the calendar shift, the most recent week was skewed downward due to a comparison with a non-holiday week in 2019. After two consecutive weeks of lower dem...
STR: London Hotels Post Record-Breaking Room Rates
STR | July 13, 2022
LONDON—London’s hotel industry reported its highest monthly room rates on record, according to preliminary June 2022 data from STR. Occupancy: 83.1% Average daily rate (ADR): GBP209.00 Revenue per available room (RevPAR): GBP173.60 The absolute ADR and RevPAR levels were the highest for any month in STR’s London database. The absolute occupancy level was the highest in London since July 2019 but still came in 7.3% lower than the pre-pandemic comparable (June 2019). All of STR’s COVID-19 analysis can be found here....
Baird/STR Hotel Stock Index Fell 19.3% in June
Baird | July 13, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 19.3% in June to a level of 4,504. Year to date through the first six months of 2022, the stock index decreased 21.6%. “Hotel stocks continued on their downward trajectory in June and were significant relative underperformers as investors began to factor in an increasing likelihood of an impending recession,” said Michael Bellisario, senior hotel research analyst and director at Baird. “While the upcoming summer travel months are expected to be strong, investors are looking beyond the near-term fundamental strength to a period when demand and AD...
North America Hotel Guest Satisfaction Declines as Travel Volume, Room Rates Rise, J.D. Power Finds
J.D. Power | July 13, 2022
Rise in Demand and Room Rates Puts Pressure on Guest Satisfaction as Hotels Manage Delicate Balance Between Recovery and Guest Experience Hotel occupancy rates are on track to approach pre-pandemic levels this year[1] as travelers get back on the road and in the air to make up for two-plus years of deferred vacation plans. However, according to the J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study,SM released today, the surge in deman and steadily climbing prices have not been met with a corresponding improvement in amenities or services. As a result, overall hotel guest satisfaction declines 8 points (on a 1,000...
Macro-Level Obstacles Little Match for Global Hotel Industry
HotStats | July 11, 2022
The global hotel industry is producing strong performance numbers all against a climate of financial unease. It’s an incongruity that hoteliers hope sustains. Consumer costs for everything, including hotel rooms, are up. The list is long: gas prices, food prices, airfare prices (not to mention a wave of air cancellations) are all at dizzying highs. The list is long and induces unease, but consumers are still, it appears, willing to put them aside in order to travel. In Europe, occupancy rates are at their highest levels since November 2019 and in tandem with average daily rates that are now on par or higher than pre-pandemic 2019, on ...
Asian Countries Await Policy Changes While Hotels in the Rest of the World Bounce Back
STR | July 11, 2022
Top-line performance indicators for the four weeks ending 24 June 2022 show performance recovery progressing well in countries in Europe, Latin America and the Caribbean. At the same time, several countries in Asia continue to lag while awaiting a change in COVID restriction policies. Among countries with room supply of more than 50,000 hotel rooms, those in Europe boast the fullest properties and highest rates as summer travel surges. In fact, the five highest levels in revenue per available room (RevPAR) were all recorded by popular summer vacation spots in Europe—Ireland, Greece, Italy, France, and Switzerland. On the other end of the...
STR: U.S. Hotel Results for Week Ending 2 July
STR | July 11, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance dipped from the previous week, while indexed comparisons against 2019 improved on the favorable side of a holiday calendar shift, according to STR‘s latest data through 2 July. 26 June-2 July 2022 (percentage change from comparable week in 2019*): Occupancy: 67.3% (+2.9%) Average daily rate (ADR): US$153.32 (+19.7%) Revenue per available room (RevPAR): US$103.24 (+23.1%) Given historical trends, the week-over-week decline in demand was normal given the holiday. Since 2000, the Fourth of July or the observance of the holiday (federal holiday) has fallen on a Monday seven tim...
China’s Travel & Tourism Sector to Create More Than 30 Million Jobs Over the Next Decade
The World Travel & Tourism Council | July 7, 2022
London, UK: The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in China is expected to create more than 30 million jobs over the next decade, representing a quarter of all new jobs globally. The forecast from WTTC’s latest Economic Impact Report (EIR) shows the sector will reach more than 107 million employed within the sector by 2032. According to the global Tourism body’s latest data, Travel & Tourism’s GDP is expected to grow at an average of 9.7% over the next 10 years, more than twice the 4.4% growth rate of the national overall economy, making it one of the fastest growing countries...
International Arrivals to South America Expected to Recover From a Dire 3.3 Million in 2021 to 35.5 Million by 2024
GlobalData | July 7, 2022
Research by GlobalData has revealed that international travel to South America plummeted from 35 million visitors in 2019 to a mere 3.3 million in 2021 due to the COVID-19 pandemic—meaning that the region missed out on around $49.2 billion* in tourism spend over the two years. The leading data and analytics company notes that, following these disastrous few years, 2022 has seen a rather sudden return of international visitors, and the country should return to just over the levels it reached in 2019 by 2024. GlobalData’s latest report, ‘South America Destination Tourism Insight Report, 2022 Update’, reveals international tourism wil...
Meetings and Events Show Significant Growth of 334 Percent Over June 2021
Knowland | July 7, 2022
June increased 16.6 percent over May 2022 as the industry continues to build recovery momentum ARLINGTON, Va. — July 7, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for June reporting a significant increase of 334 percent over June 2021. June 2022 rebounded from May 2022 with a 16.6 percent increase month over month. • Average attendees per event continue to outpace 2019 – The average number of attendees per event for June 2022 was 117, compared to 59 in June 2021 and 89 in June 2019. • Average spac...
Dubai Hotels Achieve Profitability Levels Seven Times Higher Than 2019
STR | July 6, 2022
LONDON—Among key hotel markets in the Middle East, Dubai’s gross operating profit per available room (GOPPAR) came in seven times higher than the 2019 comparable, according to STR’s May 2022 P&L data release. Helped by strong international arrival numbers, as well as an earlier Ramadan, Dubai’s May GOPPAR reached US$115.37. That level was 776% of the pre-pandemic comparable. Just a month earlier during Ramadan, the market was at 79% of 2019 GOPPAR. Also reporting significant month-over-month improvement in the region, Qatar posted a May GOPPAR of US$60.87. That level was 466% of the pre-pandemic comparable afte...
U.S. Hotel Profitability Lower in May but Above 2019 Levels for Third Consecutive Month
STR | July 6, 2022
HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) fell from the previous month, but surpassed the pre-pandemic comparable for a third consecutive month, according to STR‘s May 2022 P&L data release. GOPPAR: US$88.63 TRevPAR: US$219.58 EBITDA PAR: US$67.80 LPAR (Labor Costs): US$66.27 The EBITDA PAR level was also down from April. “After the top-line metrics showed mixed results in May, it wasn’t a surprise that the bottom-line metrics came in a bit lower,” said Raquel Ortiz, STR’s director of financial performance. “Regardless, each of the four key P&...
