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
Los Angeles – the Second-Largest Hotel Construction Pipeline Market in the United States
Lodging Econometrics | July 26, 2021
PORTSMOUTH, NH – July 26, 2021 – In the most recent Lodging Econometrics (LE) Market Trend Report, the Los Angeles market has a total of 135 projects/22,586 rooms in the construction pipeline, the second-largest market pipeline in the U.S. behind New York City, which has 146 rooms/25,232 rooms. In Los Angeles, 34 projects/5,771 rooms are currently under construction, projects scheduled to start construction in the next 12 months are at 42 projects/6,359 rooms, and those in early planning are at 59 projects/10,456 rooms. Los Angeles should continue its fast-paced growth. For the first half of the year, it ranked fifth of all markets for...
STR: U.S. Hotel Results for Week Ending 17 July
STR | July 23, 2021
HENDERSONVILLE, Tennessee — July 23, 2021 — U.S. weekly hotel occupancy reached its highest level since October 2019, according to STR‘s latest data through 17 July. 11-17 July 2021 (percentage change from comparable week in 2019*): Occupancy: 71.0% (-8.7%) Average daily rate (ADR): US$139.19 (+1.8%) Revenue per available room (RevPAR): US$98.87 (-7.1%) Despite a four-point, week-over-week improvement in occupancy, ADR dipped slightly from the all-time high achieved the previous week. Among the Top 25 Markets, New Orleans saw the highest occupancy increase over 2019 (+5.8% to 59.5%). San ...
STR: Canada Hotel Performance for June 2021
STR | July 23, 2021
HENDERSONVILLE, Tennessee — July 23, 2021 — Canada’s hotel industry reported its highest monthly performance levels since September 2020, according to STR’s June 2021 data. Even with improvement from previous months, the country’s performance levels remained well below the pre-pandemic comparable of June 2019: Occupancy: 36.5% (-50.5%) Average daily rate (ADR): CAD125.05 (-31.2%) Revenue per available room (RevPAR): CAD45.67 (-66.0%) “Now that vaccination efforts are well underway and paying off with declining case counts, restrictions are easing and the Canadian tourism economy is reopening,” said Lau...
Hotel Spas Get Expense Facelift
HotStats | July 21, 2021
The pandemic has made it difficult for anyone to relax. Beyond being a drag on a hotel’s core business—room sales—it’s also been an assault on ancillary revenues, such as spa business. Hotels with spas needed to shift carefully during the pandemic, finding corners to cut without taking too much away from the promise of a serene customer experience. What they found, according to data, is that cutbacks in staff and some amenities were blessings in disguise, producing efficiencies and greater personalization of the guest experience. Clever Cost-Cutting Reduced services and social-distancing regulations allowed for vast sav...
STR: U.S. Hotel Performance for June 2021
STR | July 21, 2021
HENDERSONVILLE, Tennessee — July 21, 2021 — The U.S. hotel industry recorded its highest monthly occupancy and revenue per available room (RevPAR) since October 2019, according to June 2021 data from STR. June 2021: Occupancy: 66.1% Average daily rate (ADR): US$129.00 Revenue per available room (RevPAR): US$85.31 In addition to higher occupancy and RevPAR levels, ADR was the highest for any month since February 2020. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained below the pre-pandemic ...
Europe Remains Only World Region With Increased Hotel Construction
STR | July 19, 2021
LONDON — July 19, 2021 — At the end of Q2 2021, Europe remained the only world region with a year-over-year increase in hotel rooms in construction, according to June pipeline data from STR. June 2021 (% changes in comparison with June 2020) Europe In Construction: 237,304 rooms (+7.9%) Final Planning: 177,165 rooms (+13.0%) Planning: 147,712 rooms (-6.4%) Germany (49,027) and the U.K. (36,444) lead Europe in total rooms in construction. Asia Pacific In Construction: 476,740 rooms (-2.8%) Final Planning: 181,453 rooms (+8.8%) Planning: 271,268 rooms (+13.6%) Among countries in the regio...
STR: U.S. Hotel Results for Week Ending 10 July
STR | July 15, 2021
HENDERSONVILLE, Tennessee — July 15, 2021 — U.S. hotel occupancy improved week over week, while average daily rate (ADR) was the highest on record, according to STR‘s latest data through 10 July. 4-10 July 2021 (percentage change from comparable week in 2019*): Occupancy: 67.2% (-9.3%) Average daily rate (ADR): US$139.84 (+5.4%) Revenue per available room (RevPAR): US$93.99 (-4.4%) Inflation aside, STR analysts note that hoteliers are taking advantage of pent-up leisure demand and higher spending travelers while trying to counter staffing shortages and rising operational costs in some regions. Additionally, wi...
COVID-19’s Impact on the Greater Kansas City Lodging Market
HVS | July 15, 2021
Amid a worldwide pandemic, the lodging industry faced a downturn that was greater than the past two lodging-market declines combined; fortunately, most markets have begun to recover in both occupancy and average daily rate (ADR). Prior to the pandemic, Kansas City had undergone an extended period of strong economic growth, with the urban core amid redevelopment and revitalization. These factors supported the strengthening of the lodging market last decade, which in turn drew attention from hotel developers. Approximately 1,300 hotel rooms across 13 hotels opened in 2018 and 2019, and as the market was absorbing these supply additions, both oc...
Q2 2021 Major U.S. Hotel Sales Survey
Daniel Lesser | July 13, 2021
By Daniel Lesser The U.S. Lodging Industry has shifted dramatically over the past twelve months. Looking back to this time last year, the world was fiercely battling the Coronavirus pandemic, virtually weaponless without anything other than masks and social distancing measures. We are now roughly six months into the global vaccination campaign, with cases and death rates much lower in most parts of the world. Although the U.S. has achieved months of steadily declining case counts, unfortunately, every day we are reminded that the fight against the pandemic is not over. COVID-19 continues to loom large as new, more transmissible variants, a...
STR: Preliminary June Data for Abu Dhabi Hotels
STR | July 13, 2021
LONDON — July 13, 2021 — Abu Dhabi’s hotel industry reported its highest occupancy since the start of the pandemic, according to preliminary June 2021 data from STR. Occupancy: 68.5% Average daily rate (ADR): AED319.95 Revenue per available room (RevPAR): AED219.18 The absolute occupancy level was the highest for any month in Abu Dhabi since February 2020, while the absolute RevPAR was the market’s highest since February 2021. Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020. All of STR’s COVID-19 analysis can be foun...
STR: Preliminary June Data for London Hotels
STR | July 13, 2021
LONDON — July 13, 2021 — STR’s preliminary June 2021 data for London hotels showed its highest performance levels since the start of the pandemic. Occupancy: 41.0% Average daily rate (ADR): GBP99.78 Revenue per available room (RevPAR): GBP40.96 The absolute occupancy and RevPAR levels were the highest for any month in London since February 2020, while the ADR level was the highest since March 2020. Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020. All of STR’s COVID-19 analysis can be found here....
STR: Preliminary June Data for Beijing Hotels
STR | July 13, 2021
LONDON — June 13, 2021 — Beijing’s hotel industry reported lower occupancy but higher room rates when compared with the month prior, according to preliminary June 2021 data from STR. Occupancy: 64.7% Average daily rate (ADR): CNY645.54 RevPAR: CNY417.69 The absolute ADR level was the highest in Beijing since October 2019, while RevPAR was the highest in the market since December 2019. The occupancy level came in lower than the previous two months due to new COVID-19 cases and travel restrictions in Guangdong, which impacted several markets including Beijing, but remained slightly above the levels seen in Q1 2021....
Hotel Performance Recovery in China Isn’t Just Faster, It’s Different
STR | July 12, 2021
Like many markets worldwide, Mainland China has worked diligently to establish a new, albeit temporary, normal. That has included tight border controls, enhanced testing measures and small but strict lockdowns to prevent new surges in COVID caseloads. As a result, travel in China has quickly rebounded in both the leisure and business travel segments. Sure, performance declines have occurred during lockdowns, but rebounds have quickly followed, and through the first half of 2021, hotel performance has remained pretty much near normal based on the market’s historical trends. At the same time, China’s somewhat unique mitigation efforts ha...
New York City on Track for Surge of New Hotel Rooms
STR | July 12, 2021
HENDERSONVILLE, Tennessee — July 12, 2021 — New York City is well ahead of all other U.S. markets in hotel rooms under construction and projected openings for the remainder of 2021, according to pipeline data from STR’s AM:PM platform. As of 1 July 2021, New York City showed almost 22,000 rooms in construction. Only four other markets have more than 5,000 rooms in that final phase of the pipeline. 1. New York (21,878 rooms) 2. Los Angeles (6,595 rooms) 3. Atlanta (6,398 rooms) 4. Las Vegas (5,031 rooms) 5. Dallas (5,028 rooms) Of those almost 22,000 rooms under construction, more than 8,500 are scheduled ...
STR: U.S. Hotel Results for Week Ending 3 July
STR | July 9, 2021
HENDERSONVILLE, Tennessee — July 9, 2021 — U.S. hotel occupancy dipped while average daily rate (ADR) was up from previous weeks and the comparable period in 2019, according to STR‘s latest data through 3 July. 27 June through 3 July 2021 (percentage change from comparable week in 2019*): Occupancy: 65.4% (-0.1%) Average daily rate (ADR): US$135.35 (+5.8%) Revenue per available room (RevPAR): US$88.51 (+5.7%) While occupancy was down because of the holiday week, overall comparisons were more favorable because of low performance during the corresponding week from 2019. That week in 2019 was lower due ...
Tucson Lodging Market – Recent Trends and Outlook
Brittany Hart | July 9, 2021
By Brittany Hart, Michael Smithson Historical Trends Prior to the onset of the COVID-19 pandemic, Tucson’s lodging industry was reaching new heights. After eight years of growth spurred in part by large-scale expansion at Raytheon, the relocation of Caterpillar and Hexagon to Tucson’s revitalizing downtown, and growth at the University of Arizona, performance had reached a new peak. This positive trend reportedly continued through the first months of 2020, which included the Tucson Gem and Mineral Show in February. According to Visit Tucson, this event generated $40 million in lodging revenue. However, in mid-March 20...
Deal Activity in the Travel & Tourism Sector Increased by 39.6% During June 2021
GlobalData | July 8, 2021
A total of 74 deals (comprising mergers & acquisitions, private equity, and venture financing deals) were announced in the global travel and tourism sector during June, which is an increase of 39.6% over 53 deals announced in May, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel & tourism sector showed signs of recovery in June, following a decline during the past few months. The growth in deal activity for a sector that has been hit badly due to lockdown and travel restrictions amid the COVID-19 pandemic, could be a positive sign fo...
Central/South America’s Hotel Pipeline Is Weak, But a Handful of Markets Project Significant Growth
STR | July 8, 2021
Hotel development in the Central and South America region is lagging noticeably behind the rest of the world with just 39,000 rooms in the planning, final planning and in construction phases combined. Overall, the region’s hotel pipeline accounts for just 6.4% of existing supply, which is less than half the rate of global hotel development at 12.9%. Despite the collective, sluggish pipeline activity in Central and South America, there are five markets which are experiencing spurts of significant growth above the global average. Here is a quick overview of a few of the region’s hotel development hotspots when ranked by ...
Argentina Hotels Struggling to Generate Occupancy Momentum
STR | July 8, 2021
Most of South America continues to stagnate since the region exceeded 20% hotel occupancy in December 2020 thanks to the summer holidays and Christmas. However, one of the region’s key countries stands out for its inability to generate recovery momentum. Argentina closed May with the lowest occupancy (14.4%) in the region, which was well below the levels recorded in Chile (42.7%), Peru (38.4%), Brazil (30.9%), Uruguay (30.0%), and Colombia (25.0%). Contracts with mining companies and other extractive activity have lifted Peru’s occupancy, especially in Lima, while Chile has shown positive signs in recent months ...
Mixed Picture: Occupancy on the Books in Barcelona and the Balearic Islands
STR | July 6, 2021
July 6, 2021 — Earlier this year during the Hotel Data Conference: Global Edition, we presented an occupancy-on-the-books update for the Barcelona and Balearic Island markets. Fast-forward to the latest 365-day outlook (as of 7 June 2021), and we still see a mixture picture but with some improvement for these two key hotel markets in the Mediterranean region. Forward STAR helps hoteliers strategize more effectively for the future, allowing you to continuously monitor the marketplace and evaluate the impacts of your decisions for the times ahead. Barcelona was heavily impacted by a lack of its usual demand drivers, such as internationa...
STR: Australia’s Latest Lockdowns Curtail Hotel Bookings
STR | July 6, 2021
ADELAIDE — July 6, 2021 — Amid recent COVID-19 outbreaks and lockdowns, key markets in Australia are showing noticeably lower levels of occupancy on the books for the coming weeks, according to data from STR’s Forward STAR. Most notable, Sydney’s occupancy on the books is down an average of 13.8% when comparing the 28 June data update with the data release from 21 June. Occupancy for the current week ending 3 July is unlikely to exceed the 20% mark, which would be a 50% decline from previous weeks. “Since the second week of June, the delta strain of the virus emerged in the community, and lockdowns in Victoria followed by New ...
STR: U.S. Hotel Results for Week Ending 26 June
STR | July 1, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy hit its highest level since late October 2019, according to STR‘s latest data through 26 June. 20-26 June 2021 (percentage change from comparable week in 2019*): Occupancy: 69.9% (-7.3%) Average daily rate (ADR): US$133.36 (-0.5%) Revenue per available room (RevPAR): US$93.19 (-7.8%) In addition to occupancy reaching its highest point since the week ending 26 October 2019, ADR and RevPAR were the highest of the pandemic-era. Weekend occupancy surpassed the 2019 comparable for the second time in three weeks, while ADR was 13% higher than the corresponding weekend from ...
U.S. Hotel Profit Improved to 70% of 2019 Level, Labor Flat
STR | July 1, 2021
BROOMFIELD, Colorado—Gross operating profit for U.S. hotels reached 70% of the comparable 2019 level, according to STR‘s May 2021 monthly P&L data release. While demand, revenues and GOP continue to uptick, labor spending remained flat from the previous month at 64%. Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February 2020 except for labor. GOPPAR: US$37.30 TRevPAR: US$102.52 EBITDA PAR: US$22.54 LPAR (Labor Costs): US$30.96 “May was another step forward as more economic reopening and more demand pushed industry-wide profitability further upward,...
UK Families Face Another Lost Summer With No European Breaks in Sight
WTTC | July 1, 2021
Warning comes on day of launch of Europe’s EU Digital Covid Certificate, designed to reopen travel on the continent London, UK: UK families face yet another ‘lost summer’ thanks to the controversial traffic light system, quarantines, costly COVID-19 tests and confusing travel rules and regulations, says the World Travel & Tourism Council (WTTC). The global tourism body, which represents the global private Travel & Tourism sector, says this combination has effectively made much of Europe off-limits to holidaymakers for the second successive year, despite the success of the vaccination rollout. As well as being hugely di...
