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
Host Hotels & Resorts, Inc. Reports Results for 2020
Host Hotels & Resorts | February 19, 2021
BETHESDA, Md., Feb. 19, 2021 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the fourth quarter and full year 2020. James F. Risoleo, President and Chief Executive Officer, said, “We continued to grow sequential revenues while minimizing operating expenses in the fourth quarter and further reduced our net loss and hotel-level operating losses from third-quarter levels. With accelerating vaccine deployment, decreasing weekly COVID-19 case counts and the easing of lockdowns, we are encouraged by recent booking activitie...
Hyatt Reports Fourth Quarter 2020 Results
Hyatt Hotels Corporation | February 19, 2021
CHICAGO - February 19, 2021 - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported fourth quarter 2020 financial results. Net loss attributable to Hyatt was $203 million, or $2.00 per diluted share, in the fourth quarter of 2020, compared to net income attributable to Hyatt of $321 million, or $3.08 per diluted share, in the fourth quarter of 2019. Adjusted net loss attributable to Hyatt was $179 million, or $1.77 per diluted share, in the fourth quarter of 2020, compared to Adjusted net income attributable to Hyatt of $49 million, or $0.47 per diluted share, in the fourth quarter of 2019. Refer to the table on page 1...
STR: U.S. Hotel Performance for January 2021
STR | February 19, 2021
HENDERSONVILLE, Tennessee — 19 February 2021 — The U.S. hotel industry showed higher performance levels from the prior month, according to January 2021 data from STR. January 2021 (percentage change from January 2020): Occupancy: 39.3% (-28.3%) Average daily rate (ADR): US$90.79 (-27.8%) Revenue per available room (RevPAR): US$35.72 (-48.2%) Occupancy and RevPAR were up from December but remained closer to the earlier months of the pandemic. ADR was down slightly from the previous month. Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest January occupancy level (23.6%), which represented a 72.9% decrea...
STR: Tampa Hotels Posted Moderate Rate Gains on Super Bowl Weekend
STR | February 19, 2021
BROOMFIELD, Colorado — 19 February 2021 — With limited attendance and game festivities, Tampa’s hotel performance gains came in far lower than that of previous Super Bowl host markets, according to STR. Despite the current pandemic environment, the market was still able to post a 64.5% year-over-year increase in average daily rate (ADR). During the nights of Friday-Sunday, 5-7 February, Tampa posted an absolute ADR of US$245.82, which drove revenue per available room (RevPAR) of US$202.59 (+64.9%). Occupancy in the market was 82.4%, relatively flat in comparison to the equivalent days last year. “Due to the circumstances around ...
STR: U.S. Hotel Results for Week Ending 13 February
STR | February 18, 2021
HENDERSONVILLE, Tennessee — 18 February 2021 — U.S. hotel occupancy increased more than 4 percentage points from the previous week, according to STR‘s latest data through 13 February. 7-13 February 2021 (percentage change from comparable week in 2020): Occupancy: 45.1% (-29.0%) Average daily rate (ADR): US$99.21 (-25.7%) Revenue per available room (RevPAR): US$44.72 (-47.2%) Boosted by Valentine’s Day and the long weekend with Presidents’ Day, U.S. weekend occupancy (Friday/Saturday) came in at 58.5%, which was the highest level in the metric since mid-October. Elevated occupancy during the weekend of Presidents’ ...
Marriott International Reports Fourth Quarter 2020 Results
Marriott International, Inc. | February 18, 2021
BETHESDA, MD — FEBRUARY 18, 2021 — Marriott International, Inc. (NASDAQ: MAR) today reported fourth quarter 2020 results, which were materially impacted by the COVID-19 global pandemic and efforts to contain it (COVID-19). Leeny Oberg, Executive Vice President and Chief Financial Officer, said, “We are all deeply saddened by Arne Sorenson’s unexpected passing. We are grateful to have been able to work with such an inspiring and talented leader and will always treasure our memories of working with him. Our leadership team is committed to honoring him by building on his incredible legacy as we move the company forward.” Stephani...
Choice Hotels International Reports 2020 Fourth Quarter and Full Year Results
Choice Hotels | February 17, 2021
ROCKVILLE, Md. -- Feb. 17, 2021 -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three months and year ended December 31, 2020. "Despite a year of unprecedented challenges brought upon us by the pandemic, Choice Hotels drove results that significantly outperformed the industry, achieved a number of major milestones in the execution of our long-term strategy and positioned the company to continue to grow our share of travel demand in the years to come," said Patrick Pacious, president and chief executive officer, Choice Hotels. "These results are a te...
Hilton Reports Fourth Quarter and Full Year Results
Hilton | February 17, 2021
MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic has had on Hilton's business. Highlights include: Diluted EPS was $(0.80) for the fourth quarter and $(2.56) for the full year, and diluted EPS, adjusted for special items, was $(0.10) for the fourth quarter and $0.10 for the full year Net loss was $225 million for the fourth quarter and $720 million for the full year Adjusted EBITDA was $204 million for the fourth quarter and $842 million ...
Business Travel Sees Steady Recovery in Europe
the Global Business Travel Association | February 16, 2021
London – February 16, 2020 – The Global Business Travel Association (GBTA) – the world’s largest business travel association – held its European Town Hall today to discuss its annual BTI™ Outlook with a focus on Europe. Europe comprised 27% of global business travel in 2019, attributing $392 billion to the $1.43 trillion global busines travel spending. Business travel in Western Europe accounted for approximately 23.4% of this global figure ($334.7 bn) and Eastern Europe (Emerging Europe) accounted for 4.0% ($57.2 bn). The six largest markets in the region (Germany, UK, France, Italy, Spain and the Netherlands) accounted fo...
HVS Market Pulse: The Florida Keys Lodging Market
Chris Cabrera | February 16, 2021
By Chris Cabrera Notable market downturns that have negatively impacted the Florida Keys lodging market include the Great Recession in 2009, the Zika virus in 2016, Hurricane Irma in 2017, and the ongoing global pandemic. Nonetheless, hotel and resort properties in the Florida Keys have positive attributes that allow owners and operators to continue to perform well even during the hardships of economic crises. The heavy leisure-dependent market, without reliance on commercial and meeting/group demand, allows local hoteliers to overcome multiple challenges other national markets cannot offer or accommodate. After recently visiting the ...
STR: U.S. Hotel Results for Week Ending 6 February
STR | February 15, 2021
HENDERSONVILLE, Tennessee — U.S. weekly hotel occupancy remained relatively flat from the previous week, according to STR‘s latest data through 6 February. 31 January through 6 February 2021 (percentage change from comparable week in 2020): Occupancy: 40.9% (-30.5%) Average daily rate (ADR): US$91.44 (-29.0%) Revenue per available room (RevPAR): US$37.44 (-50.6%) Lifted by Super Bowl LV, Tampa/St. Petersburg, Florida (62.9%), saw the highest occupancy level among the Top 25 Markets. Among STR-defined submarkets, Tampa East (90.4%) saw the highest spike in Friday/Saturday occupancy, while Tampa CBD/Airport posted the...
STR: Canada Hotel Results for Week Ending 6 February
STR | February 15, 2021
HENDERSONVILLE, Tennessee — 11 February 2021 — STR data for 31 January through 6 February 2021 showed Canada’s hotel industry with slightly lower occupancy compared with the previous week. 31 January through 6 February 2021 (percentage change from comparable week in 2020): Occupancy: 23.6% (-57.8%) Average daily rate (ADR): CAD105.48 (-28.7%) Revenue per available room (RevPAR): CAD24.87 (-69.9%) Occupancy for previous weeks came in at 23.8% (30 January), 23.0% (23 January), and 22.6% (16 January). For the week ending with 6 February, British Columbia recorded the highest occupancy level (30.0%) among the provinc...
MGM Resorts International Reports Fourth Quarter and Full Year 2020 Financial and Operating Results
MGM Resorts International | February 11, 2021
- Recovery continues to be led by the Company's U.S. Regional Operations - The Company remains confident in the long-term recovery of the Las Vegas and Macau markets - The Company's liquidity at its domestic operations remains strong at $5.6 billion - BetMGM continues to deliver on market share gains in the growing U.S. sports betting and iGaming market LAS VEGAS, Feb. 11, 2021 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter and year ended December 31, 2020. "We remain confident in the long-term recovery of our business. We have strengthened our operational ...
Wyndham Hotels & Resorts Reports Fourth Quarter and Full-Year 2020 Results
Wyndham Hotels & Resorts | February 11, 2021
PARSIPPANY, N.J., Feb. 11, 2021 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2020. Highlights include: Diluted loss per share for the quarter was $0.08 and adjusted diluted earnings per share was $0.07; diluted loss per share for the full-year was $1.42 and adjusted diluted earnings per share was $1.03. Net loss for the quarter was $7 million and adjusted net income was $7 million; net loss for the full-year was $132 million and adjusted net income was $96 million. Adjusted EBITDA was $56 million for the quarter and $327 million for the full-year. Global comp...
Latin America’s Hotel Construction Pipeline Closes Out 2020 With 632 projects/109,597 Rooms
Lodging Econometrics | February 11, 2021
PORTSMOUTH, NH – February 11, 2021 – According to Lodging Econometrics’ (LE’s) year-end 2020 Construction Pipeline Trend Report for Latin America, the Latin America Hotel Construction Pipeline stands at 632 projects/109,597 rooms, down 11% by projects and 15% by rooms, year-over-year (YOY). These are the lowest project and room counts seen in as many as eight years in the region. Projects currently under construction remain primarily unchanged YOY to close out Q4 '20 at 329 projects/57,300 rooms. Projects scheduled to start construction in the next 12 months are at 171 projects/31,729 rooms. Projects in the early planning stage are...
Canadian Lodging Outlook Quarterly 2020-Q4
HVS | February 11, 2021
February 10, 2021 - HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further Information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504. HVS Canada performs major portfolio appraisals and single-asset consulting assignments and valuations from coast to coast. Our pr...
From First Place to MVP – A Look at Which U.S. Markets “Outperformed” in 2020
STR | February 10, 2021
Once the COVID-19 pandemic reached the states, it was only a matter of time before the tourism industry saw the effects of stay-at-home orders, social distancing and other restrictions. What started as a solid year for the U.S. hotel industry soon took a turn, and April became the worst month on record for hotels in the country. Occupancy fell to 24.4%, when a year earlier, it reached roughly 68%. ADR dropped to US$73.18, and that, paired with the low occupancy, resulted in a RevPAR level of just US$17.85. Luckily for hotels, the weather was heating up, and so was weekend leisure travel. Beaches and other outdoor locations, such as hiking ...
COVID-19’s Impact on the New Orleans Lodging Market
HVS | February 10, 2021
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. Occupancy declined for two years (roughly five points per year) following the landfall of Hurricane Katrina in August 2005, despite the decline in supply due to long-lasting storm damage. Because rooms in the city were limited and recovery work was protracted, average rate (ADR) increased in 2006 before normalizing in 2007. RevPAR for the New Orleans market declined 4.6% in 2006 and a further 9.7% in 2007, which were growth years for the top 25 U.S. markets. Conversely, the city fared relatively well during ...
Knowland Releases U.S. Meetings and Events Data for January 2021
Knowland | February 10, 2021
Leader in group hospitality analytics sees meeting growth return as new year begins DARLINGTON, Va. — Feb. 10, 2021— January U.S. monthly meetings and events volume increased 7.3 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues. The new year started slowly but picked up pace as the month continued. Several key markets rebounded nicely which added to the increases. ⋅ Average attendees increased – The average number of attendees in January 2021 was 42 compared to 37 in January...
Travel & Tourism Sector Witnessed 29.6% Decline in Deal Activity During January 2021
GlobalData | February 9, 2021
A total of 57 deals were announced in the global travel and tourism sector during January 2021, which is a decrease of 29.6% over 81 deals announced in December 2020, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector has been one of the hardest hit by the COVID-19 pandemic with ongoing lockdowns in some of the key markets and travel restrictions bringing business travels mostly to a halt. Resultantly, deal-making appetite also remains muted.” The number of equity offerings, venture financing, mergers and acquisition (M&A), and priva...
Baird/STR Hotel Stock Index Dropped 8.2% in January
Baird | February 8, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE — 8 February 2021 — The Baird/STR Hotel Stock Index was down 8.2% in January to a level of 4,199. “Hotel stocks pulled back in January and significantly underperformed the broader indices as the vaccine rollout and reopening narrative lost some momentum,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The ‘pent-up demand’ thesis remains topical for bullish investors and industry participants, especially on the leisure travel front, but the more important intermediate- to long-term recovery needs to come from the business traveler, for which a rebound ap...
COVID-19’s Impact on the Phoenix Lodging Market
Michael Smithson | February 5, 2021
By Michael Smithson, McKenna Luke During the Great Recession, Metro Phoenix’s[1] occupancy fell nearly 16 points from its pre-recession peak of 68.2% in 2006 to 52.4% in 2009. However, occupancy fell from the 2019 peak of 70.5% to 47.0%[2] in 2020, reflecting roughly a 24-point correction. Although average daily rate (ADR) declined 19% from a pre-recession peak of $124.80 in 2008 to a low of $100.94 in 2010, ADR only fell 14% in 2020, from $132.64 in 2019 to $114.44 in 2020. The impact of the COVID-19 pandemic on Phoenix has been two-fold. The first quarter is peak season in Phoenix; as such, some of the strongest months out of the yea...
HVS Market Pulse: Buffalo, New York
Christian Cross | February 5, 2021
By Christian Cross Like so many markets throughout the United States, the decade of growth following the Great Recession benefited the Buffalo metropolitan market. Developers started to take notice of the strength of this market, and new supply began to increase. While hotels were being built throughout the country, the increase in supply within this market was notable, especially in the upscale and upper-upscale segments. Since 2014, supply has increased more than 45%, with the following hotels having entered the relatively small Downtown submarket: Source: HVS In addition to all the new supply, the former Comfort Suites was ren...
HVS Market Pulse: Napa Valley
Bomie Kim | February 4, 2021
By Bomie Kim, Noella Moon Replete with world-renowned vineyards, wineries, and culinary experiences, Napa Valley has a stellar reputation as a top destination market both domestically and abroad. However, numerous wildfires and the COVID-19 pandemic have affected the market. While the long-term effects of the wildfires have yet to be determined, the local economy remained relatively strong, and the impact on regional visitation from the San Francisco Bay Area and on hotel performance as a whole was relatively minimal, at least until the onset of the COVID-19 pandemic in 2020. Recent Napa Valley Wildfires Source: HVS, San Francisco Chr...
