industry performance
HotStats Shares Insights From 2023-2024 Hotel Management Sentiment Survey
HotStats | May 28, 2024
With the first quarter of the year behind us, our recent sentiment survey provides a snapshot of the current state of the hotel industry and a glimpse into what 2024 might hold. Benefiting from insights from hotel managers across various regions, the survey sheds light on performance expectations, operational challenges, and future forecasts. Although respondents to our 2023-24 sentiment survey painted a diverse picture of the hotel industry's performance, a general pattern of optimism emerged. The majority of hoteliers (65%) felt that they outperformed their expectations last year whereas only 35% felt that they fell short. This dispa...
Industry Sentiment Remains Hopeful for ADR and Group Demand, Recession Fears Grow
CoStar Group | September 25, 2023
In early Q3 2023, STR completed the third edition of the Hospitality Industry Sentiment (HIS) survey, a quarterly survey of travel industry professionals. Between the first and second waves of this survey, we saw some subtle shifts in experts’ expectations for industry performance. Leisure demand was tapering off, but group demand and major events were on the rise. Now with the third wave of the survey on the books, some patterns have become further established, and some new trends emerge as well. Average daily rate (ADR) expectations across the globe remain positive, while optimism for occupancy growth has slipped into the...
STR: U.S. Hotel Performance for September 2022
STR | October 20, 2022
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior and improved comparisons with 2019, according to September 2022 data from STR. September 2022 (percentage change from September 2019): Occupancy: 66.7% (-0.6%) Average daily rate (ADR): US$154.32 (+16.9%) Revenue per available room (RevPAR): US$103.00 (+16.3%) Among the Top 25 Markets, New York City experienced the highest occupancy level (86.1%), which was down 3.8% from the market’s 2019 benchmark. The market’s performance was helped by the United Nations General Assembly and New York Fashion Week. Markets with the...
STR: U.S. Hotel Results for Week Ending 20 March
STR | March 29, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy jumped almost seven points from the previous week to the highest level in the country since early March 2020, according to STR‘s latest data through 20 March 2021. 14-20 March 2021: Occupancy: 58.9% Average daily rate (ADR): US$108.07 Revenue per available room (RevPAR): US$63.62 The 58.9% absolute occupancy was a 93.9% increase from the comparable, pandemic-affected week last year, but more importantly, represented almost 85% of occupancy regained from the 2019 benchmark. There was also more improvement in ADR, which reached 81% of the comparable 2019 level. Every...
6 Ways Hotel Benchmarking Can Help the Hotel Industry Rebound
HotStats | November 10, 2020
The hotel industry won’t emerge from the financial chasm caused by COVID-19 overnight, but recent data already points to a rebound. Benchmarking could help quicken the pace of recovery. As the hotel industry continues to thrash its way through the pandemic, hotel benchmarking has the power to not only keep hotels afloat, but also help lift the sector to solid financial ground once again. How Hotel Benchmarking Is Reviving the Hotel Industry It’s no secret that the pandemic broadsided the hotel industry. Consider U.S. hotels, which recorded a gross operating profit per available room (GOPPAR) of $-9.87 in the third quarter, a 110% d...
U.S. Hotels: Changes in RevPAR and Profits During Historical Recessions
Robert Mandelbaum | April 1, 2020
By Robert Mandelbaum The U.S. lodging industry was prepared for a slowdown in performance entering 2020. CBRE Hotels Research was projecting a 1.1 percent increase in RevPAR for the year. Even with this low level of revenue growth, there were certain factors that could have sustained - or at least cushioned the blow of minimal declines - the nine-year trend of profit growth for U.S. hotels since 2010. We are in a low inflation period, which keeps the cost of goods and services low. Recent changes to food and beverage operations and marketing practices have helped to lower fixed costs. There is no energy crisis, so utility co...
