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: Canada Hotel Results for Week Ending 30 January
STR | February 4, 2021
HENDERSONVILLE, Tennessee — 4 February 2021 — STR data for 24-30 January 2021 showed Canada’s hotel industry with slightly higher occupancy compared with previous weeks. 24-30 January 2021 (percentage change from comparable week in 2020): Occupancy: 23.8% (-58.0%) Average daily rate (ADR): CAD105.34 (-29.2%) Revenue per available room (RevPAR): CAD25.06 (-70.2%) Occupancy for previous weeks came in at 23.0% (23 January), 22.6% (16 January), and 21.0% (9 January). For the week ending with 30 January, British Columbia recorded the highest occupancy level (30.0%) among the provinces. Among the major markets, Vanc...
STR: U.S. Hotel Results for Week Ending 30 January
STR | February 4, 2021
HENDERSONVILLE, Tennessee — 4 February 2021 — U.S. weekly hotel occupancy remained relatively flat from the previous week, according to STR‘s latest data through 30 January. 24-30 January 2021 (percentage change from comparable week in 2020): Occupancy: 40.4% (-29.6%) Average daily rate (ADR): US$89.62 (-29.8%) Revenue per available room (RevPAR): US$36.23 (-50.6%) Aggregate data for the Top 25 Markets showed lower occupancy (38.4%) but higher ADR (US$95.50) than all other markets. Tampa/St. Petersburg, Florida (58.2%), reported the highest occupancy level among the Top 25 Markets. Top 25 Markets with the l...
Vision 2050 – 2nd Edition: The Recovery Year
Robert Rauch | February 2, 2021
By Robert Rauch The Recovery Year For Hotels The final U.S. lodging industry numbers for 2020 came out and RevPAR literally finished at half of where it finished in 2019—that’s right, half! Occupancy was 66.1% at $131.17 average rate and RevPAR of $86.76. 2020 finished at 42% at a rate of $103.00, RevPAR was $43.26. The impact to the bottom line is easy to see in our bank accounts as breakeven has always been thought to be close to 60% occupancy but many forget the importance of rate to that equation. Travel Demand How and when do we recover? The when is certainly up for debate but most pundits are focused on 2023 or 2024....
Three Franchise Companies Account for 3,513 Projects/419,466 Rooms in the U.S. Hotel Construction Pipeline
Lodging Econometrics | February 2, 2021
PORTSMOUTH, NH – February 02, 2021 – In the recently released Q4‘20 United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest U.S. construction pipelines at year-end 2020 are Marriott International with 1,397 projects/184,775 rooms, followed by Hilton Worldwide with 1,290 projects/150,294 rooms, and InterContinental Hotels Group (IHG) with 826 projects/84,397 rooms. These three companies combined account for 67% of the projects and 65% of the rooms in the total U.S. construction pipeline. At the end of Q4‘20, over 50% of Hilton’s projects in the pipeline are in the e...
The New York City Market is Back on Top and Leads the U.S. Hotel Construction Pipeline
Lodging Econometrics | February 1, 2021
PORTSMOUTH, NH – February 01, 2021 – In the recent U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), at the close the fourth quarter of 2020 and after more than 6 quarters since leading all U.S. markets in the number of pipeline projects, New York City has regained top billing again with 150 projects/25,640 rooms. Other U.S. markets that follow are Los Angeles with 148 projects/24,808 rooms; Dallas with 147 projects/17,756 rooms; Atlanta with 140 projects/19,863 rooms, recording a record-high number of rooms; and Orlando with 112 projects/19,764 rooms, a record-high pipeline project count for the market. Ne...
U.S. Hotel Profits Fell 84.6% in 2020
STR | January 28, 2021
BROOMFIELD, Colorado — 27 January 2021 — Including a 100.6% decline in December, U.S. hotel profitability fell 84.6% in 2020, according to STR‘s latest monthly P&L data release. December gross operating profit per available room (GOPPAR) came in worse than any month since June in both absolute terms and year-over-year comparisons. “Lower demand in December coupled with fixed expenses for hotels meant profit declines on par with early in the pandemic,” said Raquel Ortiz, assistant director of financial performance for STR. “That only worsened the overall 2020 figures, which showed an average profit level less than $15 p...
STR: U.S. Hotel Results for Week Ending 23 January
STR | January 28, 2021
HENDERSONVILLE, Tennessee — 28 January 2021 — U.S. weekly hotel occupancy remained flat from the previous week, according to STR‘s latest data through 23 January. 17-23 January 2021 (percentage change from comparable week in 2020): Occupancy: 40.0% (-30.6%) Average daily rate (ADR): US$90.13 (-28.1%) Revenue per available room (RevPAR): US$36.07 (-50.1%) Aggregate data for the Top 25 Markets showed lower occupancy (38.8%) but higher ADR (US$97.60) than all other markets. Thanks to a small lift from the presidential inauguration, Washington, D.C.-Maryland-Virginia (57.6%), reported the highest occupancy level am...
STR: Canada Hotel Results for Week Ending 23 January
STR | January 28, 2021
HENDERSONVILLE, Tennessee — 28 January 2021 — STR data for 17-23 January 2021 showed Canada’s hotel industry with slightly higher occupancy compared with previous weeks. 17-23 January 2021 (percentage change from comparable week in 2020): Occupancy: 23.0% (-58.0%) Average daily rate (ADR): CAD104.86 (-29.1%) Revenue per available room (RevPAR): CAD24.13 (-70.2%) Occupancy for previous weeks came in at 22.6% (16 January), 21.0% (9 January), and 19.9% (2 January). For the week ending with 23 January, British Columbia recorded the highest occupancy level (29.6%) among the provinces. Among the major markets, Vanco...
STR, TE Slightly Downgrade Latest U.S. Hotel Forecast
STR | January 26, 2021
HENDERSONVILLE, Tennessee, 26 January 2021—Worsened pandemic metrics and assumptions of limited early-year travel led STR and Tourism Economics to slightly downgrade their latest U.S. hotel forecast. Full recovery of demand remains on track for 2023, while close-to-complete RevPAR recovery is still projected for 2024. “While the recent COVID-19 surge has made for a challenging start to the year, our expectation that a strong rebound in travel activity will occur in the second half remains intact,” said Adam Sacks, president of Tourism Economics. “As we emerge from the stiffest periods of the public health crisis and virus-relat...
Canada Hotel Performance Fell to Record Lows in 2020
STR | January 22, 2021
HENDERSONVILLE, Tennessee - 22 January 2021 —Canada’s hotel industry saw record lows in both occupancy and revenue per available room (RevPAR), according to STR’s year-end 2020 data. In addition to the previously mentioned historic lows, average daily rate (ADR) fell to its lowest level since 2012. Year-over-year declines were the country’s worst across the three key performance metrics. Occupancy: 33.1% (-49.2%) Average daily rate (ADR): CAD130.43 (-21.0%) Revenue per available room (RevPAR): CAD43.11 (-59.8%) Among the provinces and territories, Newfoundland and Labrador recorded the lowest occupancy level (24.7%...
STR: U.S. Hotel Results for Week Ending 16 January
STR | January 21, 2021
HENDERSONVILLE, Tennessee - 21 January 2021 —U.S. weekly hotel occupancy climbed back to the 40% mark, according to STR‘s latest data through 16 January. 10-16 January 2021 (percentage change from comparable week in 2020): Occupancy: 40.1% (-31.8%) Average daily rate (ADR): US$89.39 (-31.9%) Revenue per available room (RevPAR): US$35.85 (-53.6%) Aggregate data for the Top 25 Markets showed lower occupancy (38.4%) but higher ADR (US$95.94) than all other markets. Among the Top 25 Markets, Tampa/St. Petersburg, Florida (53.8%), reported the highest occupancy level. Top 25 Markets with the lowest occupancy levels...
STR: Canada Hotel Results for Week Ending 16 January
STR | January 21, 2021
HENDERSONVILLE, Tennessee - 21 January 2021—STR data for 10-16 January 2021 showed Canada’s hotel industry with slightly higher occupancy compared with previous weeks. 10-16 January 2021 (percentage change from comparable week in 2020): Occupancy: 22.6% (-56.7%) Average daily rate (ADR): CAD103.81 (-29.3%) Revenue per available room (RevPAR): CAD23.46 (-69.4%) Occupancy for previous weeks came in at 21.0% (9 January), 19.9% (2 January), and 17.7% (26 December). For the week ending with 16 January, British Columbia recorded the highest occupancy level (30.3%) among the provinces. Among the major markets, Vancouve...
B&Bs on Cape Cod; Is the Current Operating Model Sustainable?
Brian Testorf | January 21, 2021
By Brian Testorf, Sean Cuthbertson, and Jonathan Jaeger As one of the earliest forms of lodging establishments, the bed and breakfast inn (B&B) has long been prevalent in American society. The Association of Lodging Professionals defines a bed and breakfast inn as “a small lodging establishment consisting of four to eleven guestrooms, with six guestrooms being the industry average”. Similar to the hotel/motel concept, a bed and breakfast typically feature common guest areas such as outdoor decks, patios, and dining areas, while offering select amenities such as Wi-Fi, and as the name implies, a continental breakfast. However, unlik...
AHLA’s State of the Hotel Industry 2021
AHLA | January 21, 2021
WASHINGTON (January 21, 2020) - The American Hotel & Lodging Association (AHLA) today released “AHLA’s State of the Hotel Industry 2021” outlining the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry’s recovery, the specific impact on and eventual return of business travel, and consumer travel sentiments. The pandemic has been devastating to the hospitality industry workforce, which is down nearly 4 million jobs compared to the same time in 2019. While some 200,000 jobs are expected to be filled this year, overall, the accommodations...
Amidst Near-Term Headwinds, the Boston & Cambridge Lodging Market Awaits Recovery
Sebastian J. Colella | January 21, 2021
By Sebastian J. Colella The travel and leisure industry has finally wrapped up 2020; a year like no other, with hotels enduring devastating declines to demand and revenue, job losses across the industry, government restrictions to day-to-day business, and extreme levels of uncertainty. As the United States faces a growing number of COVID-19 cases, surpassing 20 million by year-end 2020, lodging markets across the country continue to face unprecedented declines in demand. The Boston & Cambridge lodging market’s demand, or occupied roomnights, declined approximately 68% in 2020 when compared to 2019. Following its worst performance on ...
How Hotels Are Faring in Transformative Times
Daniel Lesser | January 20, 2021
By Daniel H. Lesser We live in extraordinary times. There are only a limited number of periods in America’s 245-year history which have been as transformative as 2020 (i.e., 1776, 1865, 1929, 1945, 1968, 2001). The confluence of a global pandemic, mass civil disobedience, and the transfer of power will undoubtedly affect how we live and work in 2021 and beyond. The COVID-19 pandemic that commenced in early 2020 represents yet another demarcation in life “before” and “after.” 2020 began as geopolitical tensions spiked on January 3rd, and the U.S. stood at the brink of war when an American drone strike near the Baghdad Inter...
Less Traveled States End 2020 Not Far Off From Normal Seasonal Lows
STR | January 20, 2021
20 January 2021 - Year-end U.S. data shows that less traveled markets have generally made more progress in regaining hotel demand. In fact, a majority of states ended 2020 with room demand levels approaching normal, seasonal lows. At the same time, the business and travel-centric markets—Hawaii, California, Nevada, New York, Florida and Washington, DC—continue to show sizable demand deficits. Overall, most states finished the year in a modestly better position than the early weeks of the pandemic. Demand recovery patterns into next year will likely be tied to reduced uncertainty about travel safety, along with a successful rollou...
STR: U.S. Hotel Performance for December 2020
STR | January 20, 2021
HENDERSONVILLE, Tennessee; 20 January 2021 —The U.S. hotel industry showed performance levels closer to earlier months of the pandemic, according to December 2020 data from STR. December 2020 (percentage change from December 2019): Occupancy: 36.7% (-32.3%) Average daily rate (ADR): US$91.96 (-27.6%) Revenue per available room (RevPAR): US$33.76 (-51.0%) Occupancy and RevPAR were the lowest since May, while ADR was up slightly from the previous month. Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest December occupancy level (23.6%), which represented a 71.6% decrease in year-over-year comparisons. M...
2020 Officially the Worst Year on Record for U.S. Hotels
STR | January 20, 2021
HENDERSONVILLE, Tennessee; 20 January 2021 — The U.S. hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR. In addition to historically low absolute levels in the aforementioned metrics, average daily rate (ADR) came in lower than any year since 2011. Year-over-year declines were the worst on record across the three key performance metrics. Occupancy: 44.0% (-33.3%) Average daily rate (ADR): US$103.25 (-21.3%) Revenue per available room (RevPAR): US$45.48 (-47.5%) For the first time in history, the industry surpassed 1 billion unsold room nights...
MDO Survey Reveals That Travelers Are Hopeful for 2021
myDigitalOffice | January 18, 2021
myDigitalOffice & Knowingli market research shows a growing appetite for travel and confident in hotels to keep them safe Bethesda, MD - myDigitalOffice today announces the results of a travel sentiment survey, performed with Knowingli, a market intelligence firm. As we cautiously enter 2021, the question on seemingly everyone’s mind is: What’s next? Throughout 2020, the coronavirus pandemic aptly disrupted any fiscal predictions experts had for their respective industries, and hospitality was left in a notably precarious position. As communities around the world came to a collective standstill, the prospect of travel did as we...
U.S. Hotel Occupancy Falls Back Below 40% Mark
STR | January 14, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy fell back below the 40% mark, according to STR‘s latest data through 9 January. 3-9 January 2021 (percentage change from comparable week in 2020): Occupancy: 37.0% (-28.3%) Average daily rate (ADR): US$87.97 (-27.1%) Revenue per available room (RevPAR): US$32.59 (-47.7%) The previous week’s occupancy was lifted by New Year’s travel. As that holiday travel dissipated, TSA checkpoint counts and hotel room demand each declined by roughly 1.3 million in a week-over-week comparison. Aggregate data for the Top 25 Markets showed lower occupancy (35.8%) but highe...
STR: Canada Hotel Results for Week Ending 9 January
STR | January 14, 2021
HENDERSONVILLE, Tennessee—STR data for 3-9 January 2021 showed Canada’s hotel industry with slightly higher occupancy compared to the previous week. 3-9 January 2021 (percentage change from comparable week in 2020): Occupancy: 21.0% (-52.0%) Average daily rate (ADR): CAD106.23 (-24.7%) Revenue per available room (RevPAR): CAD22.29 (-63.9%) Occupancy for previous weeks came in at 19.9% (2 January), 17.7% (26 December), and 23.5% (19 December). For the week ending with 9 January, British Columbia recorded the highest occupancy level (27.4%) among the provinces. Among the major markets, Vancouver (26.4%) posted th...
Knowland Announces U.S. Meetings and Events Data for December 2020
Knowland | January 14, 2021
Leader in group hospitality analytics sees meeting growth slow as expected due to holidays and COVID-related market changes ARLINGTON, Va. — Jan. 14, 2021— December U.S. monthly meetings and events volume decreased 39 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 two-week pause of the holidays drove most of this decline. However, a few key markets entering different stages of shutdown also drove some of the lower performance. It is anticipated that January will see volu...
STR: Canada Hotel Results for Week Ending 2 January
STR | January 8, 2021
HENDERSONVILLE, Tennessee—STR data for 27 December 2020 through 2 January 2021 showed Canada’s hotel industry with slightly higher occupancy compared to the previous week. 27 December 2020 through 2 January 2021 (percentage change from comparable week in 2019/2020): Occupancy: 19.9% (-53.8%) Average daily rate (ADR): CAD124.53 (-25.9%) Revenue per available room (RevPAR): CAD24.73 (-65.8%) Occupancy for previous weeks came in at 17.7% (26 December), 23.5% (19 December), and 24.6% (12 December). For the week ending with 2 January, British Columbia recorded the highest occupancy level (27.6%) among the provinces. ...
