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: London Hotel Occupancy Fell in December Amid Latest COVID Concerns
STR | January 11, 2022
LONDON — January 11, 2022 — Amid increased COVID-19 cases, London’s hotel industry reported lower occupancy but higher room rates, according to preliminary December 2021 data from STR. Occupancy: 53.4% Average daily rate (ADR): GBP153.63 Revenue per available room (RevPAR): GBP82.08 The occupancy level was the lowest in the market since July 2021. A month earlier in November, London’s 66.3% occupancy level was the highest in the market since February 2020 (76.1%). The December ADR level, however, was the market’s highest since December 2019. When looking at daily data, London’s hotel occupancy came in at 53.2% on ...
STR: U.S. Hotel Results for Week Ending 1 January
STR | January 7, 2022
HENDERSONVILLE, Tennessee — January 7, 2022 — U.S. hotel average daily rate (ADR) reached an all-time weekly high, according to STR‘s latest data through 1 January. 26 December 2021 through 1 January 2022 (percentage change from pre-pandemic comparable*): Occupancy: 54.3% (+10.7%) Average daily rate (ADR): US$157.91 (+15.1%) Revenue per available room (RevPAR): US$85.74 (+27.4%) Though the record-breaking ADR level was highlighted by luxury resorts, the Top 25 Markets reached almost US$200 in aggregate, led by Miami (US$455.31) and Oahu (US$411.47). Also, among those Top 25...
Baird/STR Hotel Stock Index Jumped 12.7% in December, Ended Year Up 25.6%
Baird | January 7, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE — January 7, 2022 — The Baird/STR Hotel Stock Index jumped 12.7% in December to a level of 5,744. For 2021 as a whole, the stock index was up 25.6%. “Hotel stocks ended a volatile year with strong gains in December as the worst-case scenarios related to the Omicron variant appeared unlikely to unfold as initially feared,” said Michael Bellisario, senior hotel research analyst and director at Baird. “With the big rebound into year-end, the hotel brands ended up slightly outperforming the S&P 500 in 2021, while the hotel REITs – despite gaining 12% on the year – significantly...
Avison Young Hospitality Group- December 2021 Sales
Avison Young | January 4, 2022
ATLANTA – January 4, 2022 – Avison Young announced today it closed 15 hotel transactions totaling $264 million for the month of December 2021. $183 million of the transaction volume was big box urban core or Hilton and Marriott assets with geographic locations from Colorado to New York down through Pennsylvania, Virginia, and the Carolinas. The brokers involved in the closings were Brad Sinclair, Andy Broad, Michael Bernath, Chris Stark, Chris Kilcullen, Wendy Blissett, Mike George, Rick George, Thierry Roch and Niven Patel. Keith Thompson said, “These closings represent a continued investment trend in hospitality real estate that...
STR: U.S. Hotel Results for Week Ending 25 December
STR | January 3, 2022
HENDERSONVILLE, Tennessee — January 3, 2021 — U.S. hotel occupancy came in lower than the previous week but reached an all-time high on Christmas, according to STR‘s latest data through 25 December. 19-25 December 2021 (percentage change from comparable week in 2019*): Occupancy: 44.3% (-8.7%) Average daily rate (ADR): US$129.67 (+0.5%) Revenue per available room (RevPAR): US$57.46 (-8.3%) Christmas day occupancy (47.2%) was just above the previous high from 2015 (47.0%). While Omicron-related closures and service disruptions affected performance in New York City, overall U.S. occupancy was less impacted. A...
STR: U.S. Hotel Performance for November 2021
STR | December 21, 2021
HENDERSONVILLE, Tennessee — December 21, 2021 — The U.S. hotel industry reported lower performance than the month prior but better indexed comparisons with 2019, according to November 2021 data from STR. November 2021 (percentage change from November 2019): Occupancy: 57.6% (-6.2%) Average daily rate (ADR): US$128.50 (+2.4%) Revenue per available room (RevPAR): US$74.03 (-3.9%) Among the Top 25 Markets, New York City experienced the highest occupancy level (71.2%), which was still down 17.9% from the market’s 2019 benchmark. None of the Top 25 Markets saw an occupancy increase over October 2019. Market...
STR: Paris Leads Europe in New Year’s Hotel Booking Levels
STR | December 20, 2021
LONDON — December 20, 2021 — Lifted by the upcoming holiday season, hotel occupancy on the books is rising in Paris with a peak of more than 70% on New Year’s Eve, according to STR’s Forward STAR. As of 13 December, Paris’ occupancy on the books sat at 71.1% for 31 December, which was the highest across Europe’s key markets and the highest for the French capital over the next 90 days. From that high point, booking levels gradually decrease to a January low of 10.5% on the 31st. For comparison, Rome and London New Year’s Eve occupancy on the books sits at 56.1% and 52.3%, respectively, while Brussels is even lower at 34....
STR: Australia Hotels Show Holiday Demand Lift
STR | December 20, 2021
ADELAIDE — December 20, 2021 — Lifted by the upcoming holiday season, occupancy on the books is rising in Australia’s key hotel markets with Brisbane and Adelaide nearing 70% for New Year’s Eve, according to STR’s Forward STAR. “The timing is perfect for Australia’s hotels as restrictions are eased just as the holidays draw nearer and summer begins in the southern hemisphere,” said Matthew Burke, STR’s regional manager for the Pacific region. “Occupancy on the books is once again trending upward, and throughout the holidays, levels are already sitting above 60% in some key markets. With more reopening around the...
Hotel Profitability Global Update: Continued Improvement for Most of the World in October
STR | December 16, 2021
In our last global P&L article, we noted that hotel profitability improved across much of the globe as the industry continued its slow recovery. In this latest update with October data, we saw similar trends in P&L data although there were notable outliers in each world region. Berlin stands out as European markets show improvement Among the major European markets, Berlin achieved an October gross operating profit per available room (GOPPAR) of US$95.82, which was 111% of the 2019 comparable. Berlin was the only major market in Europe that was able to surpass its October 2019 GOPPAR level. Looking back at this past yea...
STR: Abu Dhabi Hotel Occupancy Reached Pandemic-Era High in November
STR | December 13, 2021
Abu Dhabi’s hotel industry reported its highest monthly occupancy level since the beginning of the pandemic, according to preliminary November 2021 data from STR. Occupancy: 77.1% Average daily rate (ADR): AED496.50 Revenue per available room (RevPAR): AED382.65 The market’s occupancy level was its highest since February 2020, while the ADR and RevPAR levels were the highest since December 2019 and November 2019, respectively....
STR: Berlin Hotel Occupancy Declined in November Amid Latest COVID Concerns
STR | December 13, 2021
LONDON - December 13, 2021 - Amid rising COVID cases and subsequent restrictions, Berlin’s hotel industry reported lower occupancy but higher room rates, according to preliminary November 2021 data from STR. Occupancy: 57.4% Average daily rate (ADR): EUR92.45 Revenue per available room (RevPAR): EUR53.09 The occupancy level was the lowest in the market since July and roughly 30% lower than November 2019. A month earlier in October, Berlin’s 70.1% occupancy level was just 16% lower than the pre-pandemic comparable. At the same time, the market’s ADR was its second highest since March 2020, behind only September...
Amadeus Data Alert: US Holiday Season Hotel Occupancy Already Ahead of 2019 Booking Pace
Amadeus | December 13, 2021
The holidays are looking merry and bright, as hotels in warm weather destinations draw the biggest crowds this year For the 2021 holiday season, warm weather destinations lead the top markets for hotel occupancy in the US. Across both weeks, seven of the top markets are common including destinations in Florida, Hawaii, and California, though ranking varies slightly. Amadeus, as a global leader in travel technology and business intelligence, provides unique, on-the-books, forward-looking insights for hotel bookings, as well as air travel search trends in major markets around the world. For the last two weeks of the year (Dec...
Baird/STR Hotel Stock Index Fell 7.6% in November
STR | December 8, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 7.6% in November to a level of 5,099. Year to date through the first 11 months of 2021, the stock index was up 11.5%. “Hotel stock price volatility continued in November with both the Hotel brands and Hotel REITs significantly underperforming their respective benchmarks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Two different investment narratives drove stock price performance during the month: In early November, third quarter earnings were better than expected, reopening optimism continued to gain momentum, and th...
November U.S. Meetings and Events Reflect Normal Seasonality Trends, Knowland Reports
Knowland | December 8, 2021
Average attendees per event outpaces the same period in 2019, offering positive indication for group business recovery ARLINGTON, Va. — Dec. 8, 2021— Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released monthly meetings and events data for November. Although November U.S. group meeting volume decreased 12.4 percent over October 2021, this decline reflects normal seasonality trends for this time of year with less of a decrease than pre-pandemic trends. The average number of attendees per event continues its strong performance outpacing the same period in 2019 f...
Dubai Hotels Surpassed 2019 Profit Level in October
STR | December 7, 2021
LONDON — December 7, 2021 — Estimated Dubai gross operating profit per available room (GOPPAR) for October 2021 came in at 159% of the 2019 comparable, according to STR‘s latest monthly P&L data release. Building on its launch in the U.S., STR now features monthly P&L data reporting in four world regions: Europe, the Middle East, Asia Pacific, and the Americas. Helped by the opening of Expo 2020 and the ICC Men’s T20 World Cup 2021, Dubai’s GOPPAR reached US$178, while total revenue per available room (TrevPAR) was US$316. Dubai’s top-line performance was also lifted during the month, as the market reported its hi...
STR: U.S. Hotel Results for Week Ending 27 November
STR | December 2, 2021
HENDERSONVILLE, Tennessee — December 2, 2021 — U.S. hotel performance came in higher than any other Thanksgiving week on record, according to STR‘s latest data through 27 November. 21-27 November 2021 (percentage change from comparable week in 2019*): Occupancy: 53.0% (+4.6%) Average daily rate (ADR): US$128.41 (+14.3%) Revenue per available room (RevPAR): US$68.00 (+19.6%) Among the Top 25 Markets, Dallas saw the largest occupancy increase over 2019 (+12.2% to 54.8%). Oahu Island experienced the steepest occupancy decline from 2019 (-25.3% to 58.5%). Phoenix reported the largest ADR incre...
Lodging Market Overview: Bend, Oregon
HVS | December 1, 2021
Historical Overview In a 2019 article, we highlighted the foundations of the Bend, Oregon, market. As a recap, Bend is a drive-to destination situated east of the Cascade mountain range in Central Oregon that enjoys nearly 300 days of sunshine per year, making it an attractive leisure destination for Portland and Seattle residents. In addition to tourism, Bend’s economy is diversified by the presence of Oregon State University (OSU) and St. Charles Health System. The expansion of the local economy from 2010 through 2019, which was bolstered by a growing population, allowed for the opening of eight hotels totaling over 600 guestrooms ac...
STR: U.S. Hotel Results for Week Ending 20 November
STR | November 29, 2021
HENDERSONVILLE, Tennessee — November 29, 2021 — U.S. hotel performance dipped from the previous week but came in closer to pre-pandemic levels, according to STR‘s latest data through 20 November. 14-20 November 2021 (percentage change from comparable week in 2019*): Occupancy: 59.7% (-2.1%) Average daily rate (ADR): US$126.66 (+1.7%) Revenue per available room (RevPAR): US$75.60 (-0.4%) Among the Top 25 Markets, Phoenix saw the largest occupancy increase over 2019 (+6.4% to 76.6%). Oahu Island experienced the steepest occupancy decline from 2019 (-35.2% to 51.8%). Miami reported the lar...
STR: Canada Hotel Performance Dipped in October
STR | November 23, 2021
HENDERSONVILLE, Tennessee — November 23, 2021 — Canada’s hotel industry reported lower performance levels from the month prior, according to STR’s October 2021 data. The country’s performance levels also remained well below pre-pandemic comparisons from October 2019: Occupancy: 51.0% (-24.4%) Average daily rate (ADR): CAD141.87 (-10.5%) Revenue per available room (RevPAR): CAD72.37 (-32.3%) "Following the typical seasonal pattern, October hotel performance fell month over month, but there was some positive news in the data," said Laura Baxter, CoStar Group's director of hospitality analytics for Canada. Cost...
Deal Activity in the Travel & Tourism Sector Improved by 22% During October 2021, Finds GlobalData
GlobalData | November 19, 2021
A total of 72 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during October 2021, which is a growth of 22% over 59 deals announced in September, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “This is the second consecutive month of growth in deal activity for the sector. As several countries have eased travel restrictions and COVID-19 booster jabs are being rolled out, deal-making sentiments for the sector appear to be improving. However, a surge in COVID-19 cases i...
STR: U.S. Hotel Performance for October 2021
STR | November 19, 2021
HENDERSONVILLE, Tennessee — November 19, 2021 — The U.S. hotel industry reported higher performance than the month prior, according to October 2021 data from STR. October 2021 (percentage change from October 2019): Occupancy: 62.9% (-8.8%) Average daily rate (ADR): US$134.78 (+1.2%) Revenue per available room (RevPAR): US$84.75 (-7.6%) Among the Top 25 Markets, Nashville experienced the highest occupancy level (71.8%), which was still down 11.9% from the market’s 2019 benchmark. None of the Top 25 Markets saw an occupancy increase over October 2019. Markets with the lowest occupancy for the month inclu...
STR: U.S. Hotel Results for Week Ending 13 November
STR | November 18, 2021
HENDERSONVILLE, Tennessee — November 18, 2021 — U.S. hotel performance increased slightly from the previous week, according to STR‘s latest data through 13 November. 7-13 November 2021 (percentage change from comparable week in 2019*): Occupancy: 61.6% (-3.9%) Average daily rate (ADR): US$129.98 (+2.6%) Revenue per available room (RevPAR): US$80.02 (-1.4%) Among the Top 25 Markets, Norfolk/Virginia Beach saw the only occupancy increase over 2019 (+8.8% to 60.6%). San Francisco/San Mateo experienced the steepest occupancy decline from 2019 (-35.8% to 55.8%). New Orleans reported the largest ADR increase whe...
Early Planning Projects in Europe’s Hotel Construction Pipeline Increase Year-Over-Year
Lodging Econometrics | November 17, 2021
PORTSMOUTH, NH – November 17, 2021 – According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that at the close of the third quarter of 2021, Europe’s hotel construction pipeline stands at 1,814 projects and 295,719 rooms; and remains largely unchanged year-over-year (YOY). Much like other regions around the world, Europe’s hotel industry continues to face challenges created by the COVID-19 pandemic. Nevertheless, travel activity has been rebounding over recent months, a positive and welcomed step toward industry recovery. Successful vaccination programs throughout the ...
2021 Meeting Planner Survey Reveals Key Insights as Industry Accelerates Into Recovery
Knowland | November 17, 2021
65 percent of respondents have meetings booked in the 4th quarter of 2021 ARLINGTON, Va., Nov. 17, 2021 — Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and ConferenceDirect, a full service in-person, virtual, and hybrid meeting solution company, announced the results of a survey entitled, 2021 Planner Survey: The State of the Meetings Industry, designed to help industry professionals understand the current state of recovery from the meeting and event managers’ perspectives, including what they expect and plan to prioritize as the industry accelerates towards reco...
