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
Italy’s Travel & Tourism Could Reach Pre-Pandemic Levels Next Year, Reveals WTTC Report
WTTC | May 27, 2022
Almost half a million jobs could be created in Italy’s Travel & Tourism sector over the next decade The growth in Travel & Tourism to outstrip Italy’s GDP London, UK: The World Travel & Tourism Council (WTTC) has revealed Italy’s Travel & Tourism sector will provide a significant boost to the country’s economic recovery and could almost reach pre-pandemic levels next year, just 0.3% below 2019 levels. The latest forecast from WTTC’s Economic Impact Report (EIR) shows the sector’s contribution to GDP could reach more than €194 billion next year, while employment in the sector could also hit pre-pandemic leve...
Travel Sentiment Improves Despite Higher Prices, COVID-19 and Travel Disruption Concerns
STR | May 26, 2022
The last few months have seen a much-welcomed boost in demand for the travel industry as COVID-19 restrictions have continued to ease in many parts of the world. STR’s Market Recovery Monitor shows that around two-thirds of global markets and over 95% of U.S. markets are now in a recovery or peak position achieving revenue per available room (RevPAR) indexed to 2019 at 80 or above. Further, around 70% of U.S. markets and 40% of global markets are now achieving higher RevPAR than in pre-pandemic times. While inflationary pressures continue to impact markets, meaning that real comparisons with 2019 are less impressive, strong unde...
STR: U.S. Hotel Results for Week Ending 21 May
STR | May 26, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 21 May. 15-21 May 2022 (percentage change from comparable week in 2019*): Occupancy: 68.6% (-3.5%) Average daily rate (ADR): US$151.75 (+13.4%) Revenue per available room (RevPAR): US$104.06 (+9.5%) The weekly RevPAR level was the highest in the U.S. since mid-July 2019. Among the Top 25 Markets, Miami saw the highest occupancy increase over 2019 (+4.7% to 77.5%). Of note, New York City saw the highest occupancy level for the week (89.4%), which was helped by both the New York University a...
LAC Profit Pops in Q1 Amid Enduring COVID-19, Inflation Worry
HotStats | May 24, 2022
If it’s not one thing, it’s another—or two or three. The Latin America and Caribbean region is not alone in the hardship exacted by COVID-19 and now added detriments, including high inflation, rising interest rates and labor costs, but the region’s hotels are showing resilience. Like the rest of the world, COVID is not through with the LAC region. As of May 2022, LAC had nearly 1.7 million deaths, which amounts to more than 27% of deaths worldwide, according to the Pan American Health Organization (PAHO). Peru had the highest recorded COVID-19 mortality rate in the region, followed by Brazil, Chile, Argentina, Colombia and Trinidad...
STR: Canada Hotel Performance Up Again in April
STR | May 24, 2022
HENDERSONVILLE, Tennessee—Canada’s monthly hotel performance improved once again from the previous month and showed better indexed comparisons, according to STR’s April 2022 data. April 2022 (percentage change from April 2019) Occupancy: 57.6% (-7.3%) Average daily rate (ADR): CAD155.80 (+2.5%) Revenue per available room (RevPAR): CAD89.72 (-5.0%) “Canada experienced its sixth wave of COVID cases in April, but the lack of restrictions allowed hotel performance recovery to remain strong and steady,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company o...
Strength in Average Daily Rate Now Expected to Drive 2022 RevPAR Above 2019 Levels
PwC Hospitality Directions | May 23, 2022
Despite an initial pullback in the recovery timeline caused by a surge in infections from a new omicron variant of the COVID-19 virus in December and January, continued improvement in top-line metrics for US hotels is expected for the remainder of this year and next. While leisure travel continued to drive much of lodging’s demand in Q1, individual business travel and group business have started to emerge as we head into the warmer months. Strong leisure business is expected to cause demand compression over the summer, driving room rates and resultant RevPAR levels to new highs. If tensions ease in Ukraine and immunity levels continue to in...
Recent U.S. Occupancy Leaders Appeal to Both Business and Leisure Travel
STR | May 23, 2022
For the four-week period ending 14 May 2022, more than three-quarters of all U.S. hotel markets outperformed their comparable 2019 revenue per available room (RevPAR) on a nominal basis. Of 165 STR-defined U.S. markets, only 38 fell short of their 2019 RevPAR, which was a solid improvement from 52 underperformers in April’s “bubble” blog update. Industry RevPAR looks to be on steady footing; however, a look at RevPAR contribution shows a greater influence from average daily rate (ADR) as opposed to occupancy in many areas. As a result, we decided to focus in on occupancy for performance leader callouts in this month’s up...
Amadeus Data Alert: Memorial Day 2022 On Track to Exceed 2019 Hotel Market Performance
Amadeus | May 23, 2022
As the summer travel season starts in the US, top markets for travel during the Memorial Day holiday weekend reflect a broad range of climates and activities including resort areas in Hawaii and Florida, major city centers, and smaller communities in the northeast and west. According to Amadeus’ Demand360® data as of May 15, 2022, occupancy is currently at 51% for the United States Memorial Day holiday weekend, with guests arriving on Friday, May 27 and departing Monday, May 30. This is matched to hotel occupancy for the same time in 2019 and exceeds occupancy in 2021 (47%) and 2020 (11%). When we consider that booking lead times ar...
STR: Abu Dhabi and Dubai Hotels Exceeded 2019 Eid al-Fitr Performance
STR | May 19, 2022
LONDON—The Abu Dhabi and Dubai hotel industries recorded occupancy and average daily rate (ADR) that exceeded the 2019 Eid al-Fitr comparables, according to preliminary data from STR. When looking at the Eid date (2 May 2022) in the United Arab Emirates, Abu Dhabi’s hotel occupancy reached 79.1%, which was 4.5% higher than 4 June 2019. Similarly, Dubai’s occupancy came in at 75.4%, which was 19.7% higher than the pre-pandemic comparable. “This high performance is yet another sign of recovery and demand momentum for the Middle East,” said Philip Wooller, STR’s senior director, Middle East & Africa. “While the...
STR: U.S. Hotel Performance for April 2022
STR | May 19, 2022
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from previous months as well as all-time high room rates, according to April 2022 data from STR. April 2022 (percentage change from April 2019): Occupancy: 65.5% (-3.3%) Average daily rate (ADR): US$149.90 (+14.0%) Revenue per available room (RevPAR): US$98.20 (+10.2%) The country’s occupancy and RevPAR levels were the highest since July 2021. On a nominal basis, the country’s ADR level was the highest for any month on record. When adjusted for inflation, the April ADR level was 0.7% above the 2019 comparable. Among the Top 25 Markets, Mi...
STR: U.S. Hotel Results for Week Ending 14 May
STR | May 19, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance improved from the previous week, according to STR‘s latest data through 14 May. 8-14 May 2022 (percentage change from comparable week in 2019*): Occupancy: 66.5% (-5.9%) Average daily rate (ADR): US$148.31 (+10.5%) Revenue per available room (RevPAR): US$98.59 (+4.1%) Among the Top 25 Markets, Phoenix saw the highest occupancy increase over 2019 (+4.5% to 73.8%). Philadelphia experienced the largest occupancy decrease from 2019 (-19.6% to 64.8%). Miami posted the highest ADR gain over 2019 (+62.8% to US$282.26). The steepest RevPAR deficits were in San Fr...
At Q1 ‘22 Asia Pacific’s Hotel Construction Pipeline, Excluding China, Shows Moderate Growth Year-Over-Year
Lodging Econometrics | May 18, 2022
May 18, 2022 – PORTSMOUTH, NH According to the Q1 2022 Construction Pipeline Trend Report from Lodging Econometrics (LE), the hotel construction pipeline in the Asia Pacific region, excluding China, has 1,880 projects/404,060 rooms, up 7% by projects and 9% by rooms Year-Over-Year (YOY). At the end of the first quarter, in the Asia Pacific hotel construction pipeline excluding China, there are currently 949 projects/214,215 rooms under construction, up 9% by projects and 10% by rooms YOY. Projects scheduled to start construction in the next 12 months are at 357 projects/74,459 rooms and projects in early planning, hit a record-high this...
India Hotel Performance Continues to Eclipse Pre-Pandemic Levels
STR | May 17, 2022
India’s hotel performance recovery resumed early in 2022, but April seemed to be the turning point with the country outpacing pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive weeks. Leisure markets have continued to lead recovery, but business travel is also back in the country post-Omicron. Forward bookings also appear to be healthy for the remainder of May with most pickup remaining short-term. 20 straight days above pre-pandemic comparables Running 7-day occupancy and ADR had been trending at 90% or better of 2019 levels since the latter portion of March, with occupancy eclipsing pre...
International Travel Set to Maintain Growth in 2022 With Full Recovery Expected by 2025, Observes GlobalData
GlobalData | May 16, 2022
International departures will reach 68% of the pre-COVID-19 levels globally in 2022 and are expected to improve to 82% in 2023 and 97% in 2024, before making a full recovery by 2025 at 101% of 2019 levels, with a projected 1.5 billion international departures. However, the trajectory for the recovery in international departures is not linear across regions or countries, says GlobalData, a leading data and analytics company. Hannah Free, Travel and Tourism Analyst at GlobalData, comments: “International travel from North America had shown improvement in 2021 as international departures grew by 15% year-on-year. The US rose to become the ...
STR: U.S. Hotel Results for Week Ending 7 May
STR | May 16, 2022
HENDERSONVILLE, Tennessee—U.S. hotel occupancy declined from the previous week, while average daily rate (ADR) increased slightly, according to STR‘s latest data through 7 May. 1-7 May 2022 (percentage change from comparable week in 2019*): Occupancy: 63.9% (-6.1%) Average daily rate (ADR): US$147.24 (+12.0%) Revenue per available room (RevPAR): US$94.10 (+5.1%) Among the Top 25 Markets, San Diego saw the highest occupancy increase over 2019 (+5.6% to 74.5%). Chicago experienced the largest occupancy decrease from 2019 (-22.2% to 59.2%). The steepest RevPAR deficits were in San Francis...
Canada Travel & Tourism Could Reach Pre-Pandemic Levels Next Year
WTTC | May 13, 2022
Travel & Tourism’s GDP expected to grow more than twice rate of the overall economy for the next 10 years; Over half a million jobs could also be created London, UK: The World Travel & Tourism Council’s latest Economic Impact (EIR) reveals the Travel & Tourism sector in Canada will catapult the nation’s economic recovery with its GDP contribution set to reach pre-pandemic levels next year. The forecast from the World Travel & Tourism Council (WTTC), shows the sector’s contribution to Canada’s GDP could reach CAD157 billion next year, just 0.8% below 2019 levels. Looking to this year, the report shows the se...
The “Great Return” Is in Motion; Workers, Students, Companies and Travelers Re-Embrace the City Center
JLL | May 12, 2022
Office occupancy and urban hotel demand are both steadily increasing CHICAGO, May 12, 2022 – While at-home work and a shift away from city centers was widely embraced during the throes of the pandemic, recent data points suggest the “Great Return” is in motion. City centers have historically served as the cultural and commercial heart of cities and as William Shakespeare once said, “What is the city but the people?” This statement resonates now more than ever as cities are being reawakened and re-embraced by the workers, students and companies that call them home. As of April, many big tech and financial corporations have called ...
The 5 Key Trends for North American Travelers
Erica Eyring | May 11, 2022
By Erica Eyring The new quarterly Travel Trend Report from Expedia Group Media Solutions highlights how 2022 is shaping up to be a year of rebuilding and renewal. Here we summarize the key findings about trends and behavior of North American travel shoppers during the first quarter of the year. 1. Traveler confidence surged as restrictions lifted When reviewing the data for the first quarter of 2022, we see that North American travelers weren’t put off by the pandemic setbacks of January. In fact, search volume in the region was up 30%, which was higher than the global quarter-over-quarter increase. Looking at the year-over-...
Lack of Russian Tourists Due to the Russia-Ukraine Conflict Will Leave a Void in This Summer’s European Travel Market
GlobalData | May 10, 2022
With the EU banning Russian aircraft from operating in its airspace due to Russia’s invasion of Ukraine, these nations are likely to receive very few Russian tourists this summer says GlobalData. According to the leading data and analytics company, Russia was the fifth ranked country globally in terms of international departures in 2021, with 13.7 million. According to GlobalData, in 2021, almost 20% of all outbound and domestic trips in Russia occurred in the months of June and July. Additionally, travelers from Russia spent a total of $22.5 billion in 2021, which put it in the top 10 source markets globally for total outbound tourist e...
STR: Australian Grand Prix Drove Melbourne Hotel Rates to Record High in April
STR | May 10, 2022
LONDON—Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR. Occupancy: 65.1% Average daily rate (ADR): AUD238.30 Revenue per available room (RevPAR): AUD155.14 The market’s occupancy level was its highest since February 2020, while RevPAR was the highest since November 2019. When looking at daily data, the night prior to race day (9 April) showed the highest performance levels for the month: occupancy (89.2%), ADR (AUD387.51) and RevPAR (AUD345.68). The Grand Prix weekend (8-10 April) was the only time durin...
Baird/STR Hotel Stock Index Rose 0.7% in April
STR | May 9, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index rose 0.7% in April to a level of 5,925. Year to date through the first four months of 2022, the stock index increased 3.1%. “Hotel stocks increased modestly in April but were significant relative outperformers as the broader travel recovery accelerated, particularly domestically,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Underlying hotel fundamentals continued their rebound in April, especially in some of the harder-hit urban markets, and better-than-expected intra-quarter updates from companies boosted investo...
STR: London Hotels Saw Highest Occupancy of the Pandemic-Era in April
STR | May 9, 2022
LONDON—London’s hotel industry reported its highest monthly occupancy level since February 2020, according to preliminary April 2022 data from STR. Occupancy: 72.0% Average daily rate (ADR): GBP151.42 Revenue per available room (RevPAR): GBP108.98 While occupancy increased month over month, it was down roughly 11% from the pre-pandemic comparable. The absolute ADR level was slightly lower than the previous month but up more than 6% from April 2019. London’s daily occupancy stayed above 60% with the exception of Monday, 18 April (50.2%). The highest occupancy level was reported on Tuesday, 26 April (83.7%), and overall ...
STR: U.S. Hotel Results for Week Ending 30 April
STR | May 5, 2022
HENDERSONVILLE, Tennessee—U.S. hotel occupancy improved from the previous week, while average daily rate (ADR) decreased slightly, according to STR‘s latest data through 30 April. 24-30 April 2022 (percentage change from comparable week in 2019*): Occupancy: 66.6% (-3.4%) Average daily rate (ADR): US$146.67 (+10.2%) Revenue per available room (RevPAR): US$97.72 (+6.4%) Among the Top 25 Markets, Phoenix saw the highest occupancy increase over 2019 (+5.5% to 75.9%). Minneapolis experienced the largest occupancy decrease from 2019 (-23.8% to 55.1%). The steepest RevPAR deficits were in Boston (-30.0% to US$12...
International Visitors Spent $10.1 Billion in March 2022 Marking 90% Increase Compared to March 2021
National Travel and Tourism Office | May 5, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in March 2022: International visitors spent $10.1 billion on travel to, and tourism-related activities within, the United States, an increase of 90 percent compared to March 2021. Americans spent $9.2 billion traveling abroad, yielding a balance of trade surplus of $894 million for the month—the fifth consecutive month during which the United States enjoyed a balance of trade surplus for travel and tourism. The increase in ‘Travel Spending’ accounted for the overwhelming majority (75%) of the year-over-year increase in U.S. travel exports in M...
