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
U.S. Market Recovery Monitor for Week Ending 22 May 2021
STR | May 28, 2021
The leisure-led demand surge marched forward with U.S. industry occupancy hitting 60.3%, surpassing the 60% level for the first time since early March 2020. On a total-room-inventory basis (TRI), which accounts for temporarily closed hotels, occupancy was 57.7%, which was also the highest since the pandemic’s start. More importantly, all key measures (demand, occupancy, ADR and RevPAR) reached a 62-week high, led by the Top 25 Markets, where on average, each hotel sold an additional 15 rooms last week versus the previous week. In total, the industry sold more than 3.3 million rooms each day during the week, a level like November 2019, but 3...
A Year After the Hotel Industry Collapsed, Guests—and Performance—Trickle Back
HotStats | May 27, 2021
April 2020 was not for the faint of heart. The month will live in infamy for the global hotel industry, which saw the bulk of its key performance indicators sink to unprecedented levels, an unfortunate by-product of the COVID-19 vapor. The subsequent 12 months have been a slog, but as the world transitions slowly back to a semblance of normalization, hotels are following suit. In sum: Performance is improving, but it’s still ways away from the pre-pandemic era. U.S. Pickup U.S. hotel profit has moved in the right direction since the beginning of the year, around the time when it first started to break even. As the country’s phased r...
STR: U.S. Hotel Results for Week Ending 22 May
STR | May 27, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy reached the 60% mark for the first time since the start of the pandemic, according to STR‘s latest data through 22 May. 16-22 May 2021 (percentage change from comparable week in 2019*): Occupancy: 60.3% (-15.1%) Average daily rate (ADR): US$115.57 (-13.6%) Revenue per available room (RevPAR): US$69.69 (-26.6%) ADR also reached its highest point of the pandemic but was still US$18 less than the corresponding week in 2019. RevPAR also hit a high point when compared to 2019. Miami (+2.8% to 76.0%) was the only Top 25 Market to report an occupancy increase over 2019. Sa...
U.S. Hotel Profit Improved to 60% of 2019 Level, Labor Remains Stagnant
STR | May 27, 2021
BROOMFIELD, Colorado—Gross operating profit for U.S. hotels reached 60% of the comparable 2019 level, according to STR‘s April 2021 monthly P&L data release. While GOP in comparison with 2019 improved from 50% in March, labor spending was up to just 64% in April after coming in at 60% the previous month. Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February 2020 except for labor, which was down slightly from March. GOPPAR: US$28.67 TRevPAR: US$87.34 EBITDA PAR: US$14.12 LPAR (Labor Costs): US$26.76 “April was an encouraging month as more of the top-...
Amadeus Data Alert: Hotel Occupancy Insight for the U.S. Memorial Day Holiday Points to Strong Start for Summer Travel
Amadeus | May 26, 2021
As the school year winds down in many states, Memorial Day starts the summer vacation season in the United States.. Amadeus, a global leader in travel technology, with its unique ability to track forward-looking hotel occupancy in major markets around the world, is seeing continued positive momentum in hospitality based on hotel occupancy for Memorial Day weekend. The top five destinations based on hotel occupancy are: Moab, UT Key West, Florida Sierra Vista, Arizona Destin, Florida Hilton Head Island, South Carolina All five destinations are tracking over 80% occupancy for the weeks leading up to the holiday, which ...
STR: Canada hotel performance for April 2021
STR | May 25, 2021
HENDERSONVILLE, Tennessee—Canada’s hotel industry reported slightly lower performance from the previous month, according to STR’s April 2021 data. 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 well below the pre-pandemic comparable of April 2019: Occupancy: 29.4% (-52.7%) Average daily rate (ADR): CAD113.77 (-25.1%) Revenue per available room (RevPAR): CAD33.41 (-64.6%) “Occupancy had been on a slow, upward trajectory. However, the spike in COVID-19 cases, restrictions on domestic travel and ...
Europe’s Hotel Construction Pipeline Remains Healthy and Continues to Grow in the First Quarter of 2021
Lodging Econometrics (LE) | May 25, 2021
May 25, 2021 – PORTSMOUTH, NH – According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the start of 2021, Europe’s hotel construction pipeline increased 5% by projects and 6% by rooms year-over-year (YOY). Europe ends the first quarter of 2021 with 1,928 projects/310,523 rooms, a record high project and room count for the region. As the hotel construction pipeline remains strong in Europe, vaccination rates also continue to rise and European governments are beginning to ease restrictions on travel and tourism. On May 19, the European Union (EU) announced t...
Demand in Most States Within 15% of 2019
STR | May 24, 2021
U.S. room demand continues to push toward the comparable levels of 2019. As a reminder, 2019 is being used as the recovery benchmark due to the heavy pandemic impact in 2020. For the 4-week period ending 15 May, 29 states experienced room demand totals within a 15% margin of the comparable period in 2019. Recalling that overall U.S. room demand dropped by greater than 80% during the worst weeks of this recession, there is evidence of widespread improvement as all but five markets during the past month registered a 30% (or less) deficit in recent rooms sold from 2019 levels. STR’s latest 51-chart demand map shows that many markets are ...
Middle East’s Ramadan Hotel Occupancy Approached 2019 Level
STR | May 24, 2021
LONDON—The Middle East reported Ramadan hotel occupancy levels that were improved from last year and only slightly below the 2019 comparable, according to the latest data from STR. “Muslims worldwide have marked Ramadan in decidedly different ways over the last two years, but for the Middle East, there is a sense of some normalcy as vaccinations expand and domestic restrictions are lifted,” said Philip Wooller, STR’s area director for Middle East & Africa. “Key markets in the region have been outperforming their global peers, and near-normal occupancy levels for the holy month are another good indicator for the industry movi...
STR: U.S. Hotel Results for Week Ending 15 May
STR | May 20, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy reached its second-highest level since the start of the pandemic, according to STR‘s latest data through 15 May. 9-15 May 2021 (percentage change from comparable week in 2019*): Occupancy: 59.1% (-16.4%) Average daily rate (ADR): US$113.54 (-15.4%) Revenue per available room (RevPAR): US$67.05 (-29.2%) Friday/Saturday occupancy came in higher than any weekend since Valentine’s Day weekend in 2020. Additionally, ADR reached its highest point of the pandemic but was still US$20 less than the corresponding week in 2019. Many Top 25 Markets reflected improved bus...
U.S. Hotel Industry Records Highest Monthly Performance Levels Since Beginning of Pandemic
STR | May 19, 2021
HENDERSONVILLE, Tennessee—The U.S. hotel industry recorded its highest monthly performance levels since the beginning of the pandemic, according to April 2021 data from STR. April 2021: Occupancy: 57.5% Average daily rate (ADR): US$110.34 Revenue per available room (RevPAR): US$63.46 Occupancy and RevPAR were the highest for any month since February 2020, while ADR was the highest since March 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 well below the pre-pandemic comparable of April 2019: o...
UK Domestic Tourism Set for Bumper Summer
GlobalData | May 18, 2021
With travellers hesitant towards international travel, demand for domestic holidays in the UK looks set to be unleashed. The roadmap for lockdown easing is progressing at speed and UK-based domestic operators are set to benefit, says GlobalData, a leading data and analytics company. Gus Gardner, Associate Travel and Tourism Analyst at GlobalData, comments: “After months of a long, miserable winter lockdown, many brits will be desperate to escape, and domestic staycations will once again rule this year. “Domestic operators will be set for a bumper summer as domestic demand will return at a quicker rate than international demand...
Mexico’s Outbound Tourism Fell 73% in 2020
GlobalData | May 18, 2021
The COVID-19 pandemic has had a devastating effect on Mexican outbound travel, with the number of trips falling by 73%. This figure is the second-highest fall in the Americas, after Peru (76%). Despite commercial flights operating throughout the year at a limited capacity, many countries were reluctant to open their borders amid Mexico’s high COVID-19 infection and death rate. Ultimately, this has led to a devastating drop in outbound travel which will not recover until 2024, according to GlobalData, a leading data and analytics company. Craig Bradley, Associate Travel and Tourism Analyst at GlobalData, comments: “Many foreign gove...
Deal-Making Activity in the Travel & Tourism Sector Dropped by 34.3% During April 2021, Finds GlobalData
GlobalData | May 17, 2021
A total of 71 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing) were announced in the global travel and tourism sector during April, which is a decline of 34.3% over 108 deals announced in March, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector is still reeling under the impact of the COVID-19 pandemic. Although the rebound in deal activity in March brought in some cheers, it could not be sustained for long with April again reversing the trend.” The announcement of private equity, venture fi...
Tourism After Lockdown: Guest Expectations Today and Tomorrow
STR | May 17, 2021
As vaccine programs continue across the world and we see warming attitudes toward travel alongside increased accommodation bookings, it is important to take stock and assess how the pandemic, and it’s resultant impact on consumer behavior, may leave an indelible mark on hospitality. COVID-19 has forced us to see the world differently. Previously the hustle and bustle of busy destinations sparked excitement for many travelers, but during the crisis, personal safety concerns and social distancing led to radically different perceptions of these types of destinations and experiences. The extent to which traveler perceptions and behavior w...
STR: U.S. Hotel Results for Week Ending 8 May
STR | May 13, 2021
HENDERSONVILLE, Tennessee — May 13, 2021 — Due to more supply in the marketplace, U.S. hotel occupancy fell slightly from the previous week, according to STR‘s latest data through 8 May. 2-8 May 2021: Occupancy: 56.7% Average daily rate (ADR): US$110.19 Revenue per available room (RevPAR): US$62.50 Demand was up week over week, but an increase in supply from both reopenings and new properties pulled national occupancy down. Major markets, such as New York City and San Francisco, are showing the most movement with properties coming back online. Among the Top 25 Markets, Miami (72.0%) and Tam...
At the Q1’21 Close, Latin America’s Hotel Construction Pipeline has 604 Projects/104,275 Rooms
Lodging Econometrics (LE) | May 12, 2021
PORTSMOUTH, NH – May 12, 2021 – According to Lodging Econometrics’ (LE’s) Construction Pipeline Trend Report for Q1 2021, the Latin America Hotel Construction Pipeline stands at 604 projects/104,275 rooms, down 14% by projects and 16% by rooms, year-over-year (YOY). These are the lowest project and room counts seen in the region since Q2 2012. Countries in Latin America continue to feel the impact of the coronavirus pandemic, with many countries enduring high outbreak rates and new variants. Government organizations and health associations throughout the region are working to decrease case numbers by increasing vaccine campaign eff...
Baird/STR Hotel Stock Index Rose 3.2% in April
Baird | May 11, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE — May 11, 2021 — The Baird/STR Hotel Stock Index rose 3.2% in April to a level of 5,297. Year to date through the first four months of 2021, the stock index was up 15.8%. “Hotel stock prices increased in April, but they were relative underperformers on a monthly basis for the third time this year,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The broader reopening trade has lost some momentum recently as investors continue to rotate into more defensive and value-oriented sectors despite the progress that is being made on the vaccination front and the seque...
Despite Jobs Gains, Leisure & Hospitality Sector are Hamstrung by Lack of International and Business Travel
U.S. Travel Association | May 10, 2021
WASHINGTON — May 10, 2021 — The Leisure & Hospitality industry gained 331,000 jobs in April—outperforming the overall U.S. jobs increase of 266,000, and offsetting jobs losses in other sectors. The sector’s unemployment rate continued to decline, from 15.9% in January to 13.0% in March and just 10.8% April—but remains significantly worse than overall U.S. unemployment (6%). Despite the gains in recent months, 17% of Leisure & Hospitality jobs have been lost (and not yet recovered) since February 2020. Leisure & Hospitality also accounts for 35% of all U.S. jobs still lost since February of last year. “Leisure ...
Canada’s Hotel Construction Pipeline Wraps Q1’21 With 259 Projects and 35,432 Rooms
Lodging Econometrics | May 6, 2021
PORTSMOUTH, NH – May 6, 2021 – Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2021, Canada’s hotel construction pipeline stood at 259 projects/35,432 rooms. The construction pipeline in Canada is down 15% by projects and 12% by rooms, year-over-year (YOY). However, compared to pre-pandemic totals at the end of Q1 2019, Canada is down a mere 2% by projects and up 7% by rooms. Canada’s lodging industry has been hard-hit by the drop in leisure travel, largely due to stay-at-home orders and restrictions barring inter-provincial travel. Currently, the country is experiencing a high level of positi...
Hotel Tech Report Launches the 2021 HotelTechIndex Market Leaders Report to Help Hotels Identify Top Technology Solutions in the Recovery
Hotel Tech Report | May 6, 2021
The 2021 HotelTechIndex report is the hotel industry’s definitive guide to technology solutions influencing more than $72 million of buying decisions each year Los Angeles, California / Hotel Tech Report released the 2021 HotelTechIndex™: Hotel Software Market Leaders Report, the most comprehensive view of technology solutions aiding hotel businesses in the industry recovery. Despite the uncertainty surrounding the COVID-19 pandemic during the 3-month data collection period, 318,466 hoteliers across 127 countries visited Hotel Tech Report and spent more than 3,000 hours contributing 10,227 verified hotel software product reviews about ...
NFL Draft Lifted Downtown Cleveland Hotel Performance to 532-Day High
STR | May 6, 2021
HENDERSONVILLE, Tennessee — May 6, 2021 — The NFL Draft boosted daily hotel performance to a 532-day high for hotels in the downtown Cleveland area, according to data and analysis from STR. Focusing specifically on 26 hotels in the four zip codes that comprise the immediate downtown area and nearby University Circle, the high point of the week was the opening night of the draft with average occupancy at 85.0%, average daily rate (ADR) at US$244.58 and revenue per available room (RevPAR) of US$207.94. That 29 April RevPAR level was more than 14 times higher than the comparable Thursday in 2020 and more than double the comparable Thursda...
STR: U.S. Hotel Results for Week Ending 1 May
STR | May 6, 2021
HENDERSONVILLE, Tennessee — May 6, 2021 — U.S. hotel occupancy remained relatively flat compared with the previous week, according to STR‘s latest data through 1 May. 25 April through 1 May 2021: Occupancy: 57.1% Average daily rate (ADR): US$108.80 Revenue per available room (RevPAR): US$62.13 While the overall weekly data was stagnant, weekend occupancy rose modestly and came in above 70% for the fourth straight week. However, the Top 25 Markets showed a lower occupancy level in aggregate with more properties reopening on top of lower demand. Among those Top 25 Markets, Tampa (72.4%) and M...
Hotel Revenue Reaches 50% of 2019 Level
STR | May 4, 2021
BROOMFIELD, Colorado — May 4, 2021 — Total revenue for U.S. hotels reached 50% of the comparable 2019 level, according to STR‘s March 2021 monthly P&L data release. GOPPAR, TRevPAR and EBITDA PAR came in higher than any month since February 2020. GOPPAR: US$26.79 TRevPAR: US$86.61 EBITDA PAR: US$12.77 LPAR (Labor Costs): US$27.66 Amid hiring difficulties, total labor costs were just 60% of the figure reported for March 2019. “We have seen continued improvement in room revenue, but with little coming in from F&B and other departments, industry TrevPAR is not gaining as much steam,” said Raqu...
