Global hotel performance
More Global Hotel Markets Growing RevPAR
STR | March 25, 2024
Analysis by Eddie Yeung Note: All financial figures presented in US$. STR's global "bubble chart" update as of 9 March 2024 shows that 77% of markets increased revenue per available room (RevPAR) from the comparable period in 2023, which was 4% more than the last update. Occupancy and average daily rate (ADR) were also steadily higher than last year. Among countries with 50,000 rooms and adequate hotel reporting levels, Singapore, the United Arab Emirates, France, Switzerland, and New Zealand led in RevPAR on an actual basis. Singapore recorded the highest ADR at $284, which was 17% higher year over year as the market hosted Tayl...
RevPAR Growth Slowed Globally, Ireland Occupancy Breaks 90%, and China Recovery Softens
CoStar Group | September 28, 2023
Analysis by Eddie Yeung STR's global “bubble chart” update as of 16 September 2023 showed 86% of markets with growth in revenue per available room (RevPAR) compared to 2019. With summer travel season winding down in many parts of the world, this figure was expectedly lower than the previous update (by 2%) but well above the 2022 comparable (66%). Among all countries with a total supply of more than 50,000 rooms, Israel, France, Greece, Singapore, and Italy led in RevPAR on an actual basis. Greece sustained the top spot for the third consecutive 28-day period. Five countries recorded an occupancy rate above 80%—Irelan...
Global Hotel Industry Faces Mixed Fortunes Amid Rising Costs and Varied Demand
HotStats | August 3, 2023
The global hotel industry is experiencing mixed fortunes as it navigates the post-pandemic landscape. In the United States, the Gross Operating Profit (GOP) margin has seen a year-on-year (YOY) decline of three percentage points (ppt), primarily due to a three ppt increase in total labor cost margin and a 0.5 ppt rise in utilities cost margin. This has led to a 1% ($1.25) YOY drop in Gross Operating Profit Per Available Room (GOPPAR). Undistributed expenses, including Sales and Administration & General (A&G) expenses, have surged by 12.9% YOY, reversing the savings made in these areas during the pandemic. Specific cost items such a...
Staying Strong, 85% of Global Hotel Markets Continue to See RevPAR Growth Above 2019
STR | July 7, 2023
Analysis by Eddie Yeung STR’s global “bubble chart” update as of 17 June 2023 shows that 85% of markets experienced growth in revenue per available room (RevPAR) when compared to 2019. This reflects the same level as the previous update, which marked the largest share of markets with growth since the beginning of the pandemic. Additionally, occupancy continues to play a significant role in driving RevPAR growth. Among all countries with a room supply of more than 50,000 rooms, Israel, Switzerland, Greece, Italy, and France led in RevPAR on an actual basis. Singapore dropped off the leader board after ranking in the top f...
CoStar Group Launches the Next Generation of STR
CoStar Group | May 3, 2023
WASHINGTON -- CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today the launch of STR Benchmarking, a transformational market share product for the global hotel industry. STR Benchmarking represents the next generation of STR, with the company’s hotel data benchmarking, analytics and marketplace insights integrated into CoStar’s industry-leading information, analytics, and data-driven news platform. Acquired by CoStar Group in 2019, STR is the leader in the hotel benchmarking space with a sample of 77,000 partici...
STR Weekly Insights: 19-25 March 2023
STR | March 31, 2023
Countries included: United States, United Kingdom, Indonesia, Spain, China, Germany, Guatemala, Jamaica, Bahamas, Belgium, Luxembourg, Switzerland, Croatia and Switzerland U.S. Performance Coming off a strong week that aligned with the apex of Spring Break travel, the U.S. hotel industry throttled down during the week ending 25 March 2023. Performance indicators fell week over week (WoW), but some volatility is normal and in line with previous years given the current season. Based on historical patterns, we expect the next surge in performance to occur in the week leading into Easter Sunday as family/vacation-oriented travel g...
Global Hotel Industry Starts 2023 Strong as More Than 60% of Properties Recovered RevPAR Versus 2019
STR | February 28, 2023
STR’s global “bubble chart” updated through 17 February 2023 showed generally strong performance to kickstart the year. Among all countries with room supply of more than 50,000 rooms, Israel, Switzerland, Singapore, France and the United Arab Emirates led in revenue per available room (RevPAR) on an actual basis. If you recall, Israel, Switzerland and Singapore were among the top five in RevPAR during 2022 and that strength has continued early 2023. On the other hand, Tunisia, Hungary, Poland, Czech Republic, and Indonesia were among the bottom five performers in RevPAR. Of note, this was the first time in the last seven of these g...
STR: Most Global Regions Showed Full RevPAR Recovery in 2022
STR | January 25, 2023
LONDON—Among the global regions, Asia saw the only decline in revenue per available room (RevPAR) from 2019, according to 2022 data from STR. “While most global regions were impacted by omicron in early 2022, top-line performance recovery made big waves in the latter half of the year,” said Robin Rossmann, STR’s managing director. “The industry’s resilience has been underpinned by significant pent-up leisure travel over the summer along with the return of corporate demand, as the nature and length of this business travel has evolved. Unlike previous downturns, room rates have been the key driver of recovery as each of the glob...
