u.s. hotel market
HVS Takeaways – The Lodging Conference
Luigi Major, MAI | October 11, 2024
By Luigi Major, MAI This week marked another successful and highly attended Lodging Conference. HVS was proud to sponsor and speak at the event. Our recap on the conference sentiment follows. The event was marked by cautious optimism as industry professionals assessed the current state of the U.S. hotel market. With the Federal Reserve lowering interest rates, many believe that the worst effects of rate hikes and inflation are behind us, offering hope for a rebound in hotel transactions after the significant slowdown over the last 18 months. The upcoming election and intensifying geopolitical concerns continue to somewhat balance the r...
STR’s Market Recovery Monitor – 31 December 2022
STR | January 9, 2023
Note: This is the final edition of the Market Recovery Monitor. Beginning 13 January, the MRM will be replaced by a new series, “STR Weekly Insights.” This is also the final weekly analyses to utilize STR’s current non-participant modeling methodology and U.S. Top 25 Markets. Moving forward, Las Vegas will replace Norfolk/Virginia Beach in the Top 25. Read more HERE. Key Takeaways: U.S. room demand reached an all-time high for the 25-31 December holiday period. Airport hotels saw an occupancy lift due to Southwest flight disruptions. U.S. average daily rate (ADR) reached a record high on a nominal basis, led by Hawaii ma...
Climate, Leisure Patterns Dictate U.S. Market Performance in the Second Half of Summer
August 23, 2022
The top performing U.S. hotel markets in this monthly “bubble” chart update largely reflect late-summer seasonal patterns along with continued strong leisure travel. For the four weeks ending 13 August, the leading U.S. markets showed a clear geographical orientation toward more temperate and/or outdoor climes found in the coastal corners of the nation. Likewise, and similarly not unexpected for the season, a range of markets mostly in the uncomfortably hot south/southwest U.S. saw lower percentages of rooms filled. Oahu continued its lead among Top 25 Markets in average occupancy (84.5%, up from 84.2% in the prior update). T...
U.S. Hotel Occupancy Remains Soft for Third Consecutive Week
STR | January 28, 2022
For a third consecutive week, U.S. hotel occupancy remained soft with occupancy for 16-22 January staying basically flat (-0.1 percentage point) at 48.7%. Room demand declined by 13,000 nights week on week but remained above 18 million and increased on a relative basis against 2019 with the index at 87.2, up 0.5 points week on week. Average daily rate (ADR) increased for a second week but by only 0.2% with the index to 2019 rising to 98.6. Revenue per available room (RevPAR) also moved slightly upwards (+0.1%) with the index to 2019 (82.9) the highest of the past three weeks. While there is little doubt that Omicron...
U.S. Hotel P&L Turned Positive in July
STR | August 24, 2020
BROOMFIELD, Colorado—U.S. hotel gross operating profit per available room (GOPPAR) reached positive territory for the first time since February, according to STR‘s latest monthly P&L data release. In a year-over-year comparison with July 2019, the industry reported the following: GOPPAR: -93.3% to US$5.74 TRevPAR: -74.1% to US$60.04 EBITDA PAR: -115.1% to US$-9.24 LPAR (Labor Costs): -64.8% to US$28.46 The industry had registered negative GOPPAR values for four consecutive months: March (US$-2.10), April (US-$17.98), May (US$-10.26) and June (US$-5.89). “As the industry inched closer to 50% occup...
U.S. Hotel Demand Not Expected to Fully Recover Until 2023
STR | June 26, 2020
HENDERSONVILLE, Tennessee—Even with improving performance already underway, U.S. hotel demand will not return completely to pre-pandemic levels until 2023, according to the latest forecast revision from STR and Tourism Economics. “Compared with our last forecast, we actually improved our demand projection for 2020 from -45.0% to -36.2%, but we expect it to take 11 quarters for the number of room nights sold to rise to the corresponding levels of 2019,” said Jan Freitag, STR’s senior VP of lodging insights. “Similarly, it will take until 2023 for occupancy to reach the 20-year historical average. With lower occupancy levels, and t...
U.S. GOPPAR Turns Negative After Recent Gains
HotStats | December 3, 2019
Two consecutive months of profit gain were spoiled as the start of the fourth quarter brought with it a year-over-year downturn in GOPPAR for U.S. hotels. According to HotStats data, GOPPAR in October was down 2.8% versus the same month last year, a symptom of expense creep and a dive in top-line revenue. The negative turn comes on the heels of two months of positive YOY profit gains. Year-to-date GOPPAR is down 0.3% and down 0.7% on a rolling 12 months. RevPAR for the month was down 2.1% YOY, the result of a 1.8% YOY drop in average room rate and a 0.3-percentage-point dip in occupancy. The decrease in rooms revenue, along with a...
U.S. Hotel Industry Resilient, GOPPAR Up in September
HotStats | October 29, 2019
The third quarter ended on a high note for U.S. hotels, as September profit per room climbed year-over-year, indication that the current cycle still has teeth. GOPPAR in the month was up 1.9% over the same time last year, part of a third quarter that saw profit grow 0.2%, dragged down by a challenging July when GOPPAR decreased 2.0% YOY, according to data from HotStats. September’s bottom-line rise was fueled by a 1.1% YOY jump in RevPAR, led wholly by a 1.4% increase in average room rate. Occupancy for the month was down 0.3 percentage points YOY. The corporate segment led the growth in RevPAR, with a stout 5.1% YOY increase in ra...
