market data
STR: U.S. Hotel Results for Week Ending 22 April
STR | April 27, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 22 April. 16-22 April 2023 (percentage change from comparable week in 2022): Occupancy: 67.2% (+2.3%) Average daily rate (ADR): US$155.76 (+4.2%) Revenue per available room (RevPAR): US$104.64 (+6.6%) Helped by group demand, which was the third highest of the pandemic-era, the occupancy and RevPAR levels were the second highest of the year, behind the week ending 18 March. Among the Top 25 Markets, Chicago saw the highest year-over-year increases in each of the key performance metrics: occupancy ...
The Middle East Hotel Construction Pipeline Continues to Decline
Lodging Econometrics | November 23, 2020
November 23, 2020 – PORTSMOUTH, NH - According to the latest published Construction Pipeline Trend Report for the Middle East, analysts at Lodging Econometrics (LE) state at the end of the third quarter of 2020, the hotel construction pipeline in the Middle East declined again to 579 projects/168,042 rooms. The Middle East’s pipeline is down 7% by projects and 6% by rooms year-over-year (YOY). This is the fifth consecutive quarter the pipeline has declined since reaching its cyclical peak by projects in Q2 2019. Projects currently under construction stand at 359 projects/117,274 rooms, down slightly from the peak projects and rooms ...
STR: Canada Hotel Results for Week Ending 10 October
STR | October 15, 2020
HENDERSONVILLE, Tennessee—STR data for 4-10 October 2020 showed slightly lower performance from prior weeks for Canada’s hotel industry. 4-10 October 2020 (percentage change from comparable week in 2019): Occupancy: 32.2% (-54.0%) Average daily rate (ADR): CAD115.03 (-27.9%) Revenue per available room (RevPAR): CAD37.09 (-66.8%) Occupancy for previous weeks came in at 34.0% (3 October), 35.6% (26 September), and 37.0% (19 September), respectively. For the week ending with 10 October, British Columbia (41.2%) was the only province to reach or surpass a 40% occupancy level. Among the major markets, Vancouver saw the...
Your COVID-19 Recovery Plan Should Include These 5 Marketing Strategies
Amadeus Hospitality | August 20, 2020
Hoteliers have reopened their doors to a more competitive market than ever before. Travelers are spoiled for choice as every property (no matter what audience they previously catered to) is looking to win their business and keep revenue on the books. It will take a thoughtful approach to your hotel’s marketing plan to entice weary travelers in the era of COVID-19. With their heightened expectations for cleanliness, service, and a good deal in an uncertain economy, is your marketing strategy positioned to succeed? Here is your new 5 step action plan to marketing during a pandemic. Make decisions based on your market This may seem ...
Fitch Ratings: New Single-Borrower Hotel CMBS Ratings Unlikely Due to Sector Performance
Fitch Ratings | August 6, 2020
Significant hotel sector performance deterioration as a result of the coronavirus pandemic and recession make the assignment of ratings to new US commercial mortgage-backed securities (CMBS) single-asset single-borrower (SASB) hotel transactions unlikely at this time, Fitch Ratings says. The duration of the pandemic is uncertain, which limits the visibility of short-term performance and precludes the assignment of Stable Outlooks. Fitch discusses hotel sector pressures in its latest report New Ratings Unlikely for U.S. Single-Borrower Hotel CMBS due to Coronavirus-Related Volatility. A sustainable recovery in the lodging sector depends on...
STR: Canada Hotel Results for Week Ending 25 July
STR | July 30, 2020
HENDERSONVILLE, Tennessee—STR data for 19-25 July 2020 shows a continued steady rise in Canada’s hotel performance but the same significant level of year-over-year declines. In comparison with the week of 21-27 July 2019, the industry reported the following: Occupancy: -54.6% to 35.4% Average daily rate (ADR): -30.5% to CAD126.07 Revenue per available room (RevPAR): -68.4% to CAD44.66 Two provinces reached a 40% occupancy level: British Columbia (46.1%) and Manitoba (41.8%). Ottawa (32.6%) and Vancouver (32.2%) were the only major markets at or above the 30% mark. The lowest occupancy among provinces was reported in...
STR: U.S. Hotel Results for Week Ending 25 July
STR | July 30, 2020
HENDERSONVILLE, Tennessee—U.S. hotel performance data for the week ending 25 July showed slightly higher occupancy and room rates from the previous week, according to STR. 19-25 July 2020 (percentage change from comparable week in 2019): Occupancy: 48.1% (-37.9%) Average daily rate (ADR): US$99.24 (-27.3%) Revenue per available room (RevPAR): US$47.75 (-54.8%) U.S. occupancy has risen week over week for 14 of the last 15 weeks, although growth in demand (room nights sold) has slowed. Aggregate data for the Top 25 Markets showed lower occupancy (40.8%) and ADR (US$97.32) than all other markets. Norfolk/Virginia Bea...
STR: U.S. Hotel Results for Week Ending 20 June
STR | June 24, 2020
HENDERSONVILLE, Tennessee—U.S. hotel performance data for the week ending 20 June showed another small rise from previous weeks and less severe year-over-year declines, according to STR. 14-20 June 2020 (percentage change from comparable week in 2019): Occupancy: 43.9% (-41.8%) Average daily rate (ADR): US$92.20 (-31.7%) Revenue per available room (RevPAR): US$40.48 (-60.3%) “Occupancy was up another couple percentage points from last week, marking the 10th consecutive week of such an increase,” said Jan Freitag, STR’s senior VP of lodging insights. “Demand continues to be pushed upward by drive-to spots and the des...
