hotel market
More Asian Countries Stay Ahead of 2023 Levels, Japan Maintains Significant Rate Growth
CoStar Group | May 24, 2024
Analysis by Eddie Yeung Note: All financial figures presented in US$. STR's global "bubble chart" update for the four weeks ending 18 May 2024 shows 72% of markets with year-over-year growth in revenue per available room (RevPAR). That level was up from 60% in the previous update. Japan and South East Asian market led the growth. Among countries with 50,000 rooms and adequate hotel reporting levels, Singapore, Switzerland, France, and Italy posted the highest RevPAR on an actual basis. While Singapore and Switzerland remained leaders in actual levels, their RevPAR was moderately lower year over year by 1.7% and 5.2%, respectively. ...
2023: A Year of New Challenges and Opportunities for Hoteliers
Joseph Pierce | December 20, 2023
By Joseph Pierce, MAI The hotel industry has moved on from many challenges that have plagued it since the COVID-19 pandemic, but new challenges and opportunities have presented themselves in 2023. Carrying on from 2022, markets continue to deal with the highest cost of debt in decades, but the fear of a recession has receded, and the possibility of a “soft landing” from 40-year high inflation growth may be a reality. The industry remains flexible to the needs and desires of guests and continues to pivot to meet the challenges of the future. H&LA’s consultants have worked on many assignments in 2023, bringing with them the oppo...
São Paulo Leads Hotel Profitability Recovery in Latin America
STR | August 5, 2022
LONDON—Among key hotel markets in Latin America, São Paulo led in recovery of gross operating profit per available room (GOPPAR), according to STR’s June 2022 P&L data release. São Paulo’s June GOPPAR reached US$42.78, which was 145.4% of the pre-pandemic comparable. That level was down from May, however, when the market saw GOPPAR at US$50.01, which was 160% of the comparable 2019 level. Also reporting significant month-over-month improvement in the region, Rio posted a June GOPPAR of US$31.50. That level was 145% of the pre-pandemic comparable. Meanwhile, Lima’s GOPPAR was just 31% of the 2019 comparable, up from neg...
STR: U.S. Hotel Results for Week Ending 26 February
STR | March 3, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week and showed significant improvement against 2019 comparables, according to STR‘s latest data through 26 February. 20-26 February 2022 (percentage change from comparable week in 2019*): Occupancy: 62.2% (-4.7%) Average daily rate (ADR): US$143.83 (+13.1%) Revenue per available room (RevPAR): US$89.45 (+7.7%) Among the Top 25 Markets, Orlando recorded the largest occupancy increase over 2019 (+6.7% to 85.9%). San Francisco/San Mateo experienced the largest occupancy decrease from 2019 (-31.9% to 53.7%). Helped by the Sou...
2021: It’s All About the Economy
JLL | December 17, 2020
Recent developments are providing markets with optimism, although the next six months are key for real estate When the pandemic sent global economies into decline, it clinched the end to a decade-long bull run in commercial real estate markets. But economists and investors appear largely optimistic about a recovery in 2021. While such a disposition might have seemed far-fetched during the first lockdowns in the spring of 2020, the confidence is coming from a faster pace of vaccine development than some first believed possible, alongside government stimulus efforts and record-low interest rates at central banks. Still, uncertainty rem...
The Latin America Hotel Construction Pipeline Room Count Up Slightly Quarter Over Quarter
Lodging Econometrics (LE) | November 22, 2019
November 22, 2019 – PORTSMOUTH, NH – In the recent Latin America construction pipeline trend report from Lodging Econometrics (LE), the total construction pipeline stands at 723 projects/131,075 rooms. Pipeline room counts are up slightly at 4%, year-over-year (YOY), and are still near all-time lows. However, the luxury stage at 86 projects/15,366 rooms and upper upscale at 101 projects/21,072 rooms are at the highest levels ever recorded by LE. Projects presently under construction stand at 334 projects/60,720 rooms. Projects scheduled to start construction in the next 12 months stand at 205 projects/35,199 rooms, up 5% and 15% respec...
Canada’s Hotel Construction Pipeline Ascends to a Record High With a 28% Increase in Rooms Year-Over-Year
Lodging Econometrics | November 13, 2019
November 13, 2019 – PORTSMOUTH, NH – At the close of the third quarter of 2019, analysts at Lodging Econometrics (LE) report that the total construction pipeline in Canada soared to an all-time high with 289 projects/38,453 rooms. Construction pipeline projects are up 17% and rooms are up a remarkable 28% year-over-year (YOY). Currently, there are 85 projects/10,337 rooms under construction. Projects scheduled to start construction in the next 12 months have experienced an extraordinary 47% increase in both projects and rooms, YOY, standing at a record high of 125 projects/14,574 rooms. Projects in the early planning stage stand at 79 ...
Why Hotels and Home Rentals are Moving Forward Together
JLL Real Views | April 4, 2017
by Serene Lim When the likes of Airbnb and HomeAway first made inroads into the travel industry they created two distinct clubs; established hotels on one side and home rentals on the other. Now, the lines between the two are blurring as the wider travel industry evolves to cater for the move towards local experiences and unique stays. AccorHotels is looking to add Travel Keys, a travel broker for high-end villas into its portfolio after last year snapping up London-based Onefinestay to expand its reach into the luxury serviced homes market. The hotel giant has also bought a 30 percent stake in Oasis Collection– which bills itself...
