hotel markets
The Dallas Market Maintains Grasp on the Greatest Number of Projects in the U.S. Hotel Construction Pipeline at Q3 2023
Lodging Econometrics (LE) | October 30, 2023
October 30, 2023 – PORTSMOUTH, NH – As seen in the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines by projects at Q3 2023 are led by Dallas, with an all-time high of 189 projects/21,840 rooms, followed by Atlanta, with 140 projects/17,775 rooms, and Nashville, with 122 projects/16,046 rooms. Next is Phoenix, with 119 projects/16,455 rooms, and the Inland Empire, with 117 projects/11,784 rooms. At the Q3 close, New York City continues to have the greatest number of projects under construction, with 46 projects/8,386 rooms. ...
U.S. Hotel Results for Week Ending 26 August
CoStar Group | August 31, 2023
WASHINGTON – 31 August 2023 – Following seasonal patterns, U.S. hotel performance declined from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 26 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 20-26 August 2023 (percentage change from comparable week in 2022): Occupancy: 65.0% (+0.4%) Average daily rate (ADR): US$150.23 (+1.7%) Revenue per available room (RevPAR): US$97.62 (+2.1%) Among the Top 25 Markets, Las Vegas saw the largest year-over-year occupancy increase (+7.9% to 76...
Atlanta and Dallas Among Top Markets for New Hotel Openings Through 2025
Lodging Econometrics (LE) | August 2, 2023
August 2, 2023 – PORTSMOUTH, NH – According to the United States Construction Pipeline Trend Report by Lodging Econometrics (LE) for Q2 2023, the five markets with the largest hotel construction pipelines are Dallas with a record-high 184 projects/21,501 rooms, Atlanta with 141 projects/17,993 rooms, Phoenix with 119 projects/16,107 rooms, Nashville with 116 projects/15,346 rooms, and Los Angeles with 112 projects/17,797 rooms. The markets with the most projects currently under construction at the Q2 close are New York with 47 projects/8,201 rooms, and Phoenix with 29 projects/6,064 rooms. Dallas has the most projects scheduled to st...
STR: U.S. Hotel Performance for April 2023
STR | May 22, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance for April 2023 produced mix year-over-year comparisons, according to STR. April 2023 (percentage change from April 2022): Occupancy: 64.4% (-1.4%) Average daily rate (ADR): US$155.77 (+3.4%) Revenue per available room (RevPAR): US$100.39 (+1.9%) Among the Top 25 Markets, New York recorded the highest occupancy level (82.6%), which was up 5.3% from the market’s 2022 benchmark. The largest year-over-year gains in the metric were seen in Minneapolis (+8.2% to 56.2%), Chicago (+7.0% to 63.4%), Houston (+7.0% to 63.4%) and Washington, D.C. (+6.3% to 73.7%). Washi...
Seasonal Momentum Shifting in U.S. Hotel Performance
STR | April 21, 2023
The top hotel markets in this STR U.S. bubble chart update show a seasonal momentum shift from traditional winter/spring break hotspots to a broader range of destinations with increasingly travel-friendly climates. For the four weeks ending 15 April 2023, recovery growth across a range of industry indicators took a small backstep, with occupancy (64.1%) falling 0.7 percentage points (ppts) from the prior month. Recent occupancy indicators were also down year over year (-0.2 ppts) as well as from 2019 (-5.1 ppts). However, these drops are not a serious concern given calendar impacts. The four-week period included the extended E...
Largest U.S. Hotel Markets Showed Considerable RevPAR Gains as Spring 2022 Began
STR | April 20, 2022
More than two-thirds of STR-defined U.S. hotel markets (113 of 165) outperformed their 2019 comparables over the four weeks ending 9 April 2022, which is reflective of the industry’s rebound toward normalcy as well as some influence from inflation. Only seven markets in total over the 28-day period reported revenue-per-available-room (RevPAR) indices below 80 (20% below 2019 levels). Late March into early April 2022 also marked a key turnaround in the number of major markets making appreciable performance gains toward historical performance levels. A dozen of the Top 25 Markets experienced RevPAR that was 20% or higher month over month. ...
Impact of COVID-19 on Los Angeles & Southern California Hotel Markets
Luigi Major | April 20, 2020
By Luigi Major Since December 2019, outbreaks of coronavirus (COVID-19) have led to global economic disruptions as cities and countries attempt to slow the spread of the disease by implementing lockdowns and social distancing measures. At the time of publishing this article, the number of cases in the United States and California exceeded 680,000 and 28,000, respectively. The federal government, along with state and local governments, has implemented restrictions to slow the spread of the disease, including stay-at-home or shelter-in-place orders. Major events have been canceled, and travel has been curtailed to “essential business” on...
Discovering Possible Off-The-Radar Investment Markets
Drew Noecker | November 4, 2019
By Drew Noecker At the 2019 Phoenix Lodging Conference, the HVS Team heard muted optimism and a view that growth in the next 24 months may vary widely across markets. We would encourage owners to investigate the sometimes overlooked top 50 MSAs that still could experience value appreciation in those 24 months. Markets for Consideration Source: HVS Research and the HVI HVS reviewed multiple metrics to identify select top 50 MSAs that might offer good value to hotel investors. While these markets don’t necessarily have the cachet of, say, New York or San Francisco, they do offer potential growth and may not carry the competitive sup...
