Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover
Adam and Larry Mogelonsky | January 11, 2023
2023 Hotel Performance Outlook for Denver
Katy Black | March 22, 2023
By Katy Black With occupancy nearing the 70% mark and ADR levels approximately 4% above 2019 levels, the Denver lodging market achieved a RevPAR level in 2022 that was approximately $5 below 2019 levels. In line with the top 25 major metropolitan areas in the U.S., ADR has led the way in the recovery, with occupancy remaining below prior peaks. Compared to the overall statistics for the top 25 major metropolitan areas, Denver has recovered more from an occupancy perspective but less from an ADR perspective. For the major markets, ADR is up $15 from 2019, on average, while Denver’s ADR only increased $5. As a result of slower ADR growt...
Santiago Leads the Recovery of the Travel and Tourism Sector in Chile
WTTC | March 17, 2023
In 2022, international spending grew by 490% compared to 2021, reaching more than 0.5 trillion dollars Jobs corresponding to the sector increased by 26.4%, equivalent to almost 2% of total local jobs London, United Kingdom: The World Travel and Tourism Council ( WTTC ) revealed in its Economic Impact of Cities report that Latin America is making steady progress in reactivating the sector, and highlighted the role of the Chilean capital in tourism recovery. The Economic Impact of Cities report, produced in collaboration with Oxford Economics, analyzed key factors for the Travel & Tourism sector in 82 cities around the world, inclu...
Travel Managers Weigh In on Business Travel’s Outlook for 2023
GBTA | March 16, 2023
New report from GBTA and Spotnana reveals travel manager sentiment on post-pandemic recovery, changing priorities, economic risks, and balancing cost savings and the traveler experience Alexandria, VA and New York City (March 16, 2023) – A majority of U.S. corporate travel buyers expect their company’s business travel to ramp up and return to pre-pandemic levels by the end of 2023. Despite concerns about inflation and rising prices, only one in five travel managers say their companies have begun to limit business travel. Since the onset of the pandemic, however, demands on travel managers’ time and priorities have grown, including ...
The U.S. Virgin Islands: An Anticipated Record-Breaking Year
Kristina M. D'Amico | March 16, 2023
By Kristina M. D'Amico After the devasting impacts of Hurricanes Irma and Maria in 2017, the U.S. Virgin Islands, which comprise the islands of St. Thomas, St. John, and St. Croix, faced a significant rebuilding effort to reopen their hotel inventory. As the renovations and reopenings from the 2017 hurricane season were nearing completion, COVID-19 began to affect the islands. However, the U.S. Virgin Islands have a significant competitive advantage over the other islands in the Caribbean because they benefit from U.S. territory status. As a result, the U.S. Virgin Islands avoided the complicated COVID-19 travel restrictions that exist...
Sydney WorldPride 2023 Pushed Hotel Performance to Pre-Pandemic Levels
STR | March 15, 2023
SYDNEY—Sydney WorldPride 2023 drove the market’s hotel average daily rate (ADR) and revenue per available room (RevPAR) above pre-pandemic levels, while occupancy remained slightly below 2019, according to preliminary data from STR. During the 17-day event, Sydney’s highest occupancy levels were recorded on Saturday, 4 March (95.8%) and Saturday, 25 February (95.4%). Throughout the period, daily occupancy remained above 80% with only three days falling below that mark. “WorldPride was held for the first time in the Southern Hemisphere with Sydney hosting a series of events across two weeks to commemorate LGBTQIA+ pr...
The St. Louis Lodging Market’s Enduring Recovery
Daniel P. McCoy | March 14, 2023
By Daniel McCoy, Benjamin Giebler Similar to the rest of the nation, hotel metrics in St. Louis plummeted in 2020 at the onset of the COVID-19 pandemic, but the market had entered a healthy recovery phase by the spring of 2021. Growth accelerated through the remainder of the year, fueled by a surge of leisure travel and the slow reemergence of commercial demand, as well as the return of conventions and major events. Demand continued to improve in 2022, as corporate employees gradually returned to offices and attendance at large conventions and events increased. Rising labor costs and the shift in travel patterns, as leisure demand rapid...
U.S. Travel Comments on End of Testing Policy for Inbound Chinese Travel
U.S. Travel Association | March 10, 2023
U.S. Travel Association President and CEO Geoff Freeman issued the following statement on news that the U.S. Centers for Disease Control and Prevention (CDC) plans to end mandatory COVID-19 tests for travelers from China to the United States: “We applaud the Biden administration for implementing a sensible policy and changing that policy as the situation evolved. The same logic should be utilized to immediately eliminate the vaccine requirement for international visitors to the U.S.”...
How to Use Mobile Technology to Win Back Business Travel
Priya Rajamani | March 9, 2023
Business travel is coming back in a big way, but in order to be successful with this growing customer segment, hotels must embrace a flexible, seamless, and personalized mobile-first guest experience. By Priya Rajamani Business travel has recovered significantly as pandemic fears wane and employees return to the office. According to a recent survey by the Global Business Travel Association (GBTA), over three-quarters (78%) of travel managers expect business trips to increase in 2023, even as the global economy continues to slow. Business travel will also increase in the medium term, with the global business travel market expected to reac...
As Students and Families Head to Spring Break, the Hospitality Industry Ramps Up Hiring
PeopleReady | March 7, 2023
TACOMA, Wash., March 7, 2023 -- With spring break underway, hotels, restaurants and resorts across the country are gearing up for an influx of guests. Many experts are seeing a year-over-year increase in spring break-related online searches, with some predicting this season to be busier than pre-pandemic's spring break of 2019. To meet this surge in seasonal demand, many businesses in the hospitality industry are ramping up their hiring efforts to ensure they can continue to provide quality experiences for their guests. A new analysis by staffing giant PeopleReady finds that close to 450,000 hospitality-related jobs were posted in January...
Phoenix Hotels Scored Second-Highest Super Bowl Weekend ADR and RevPAR
STR | February 28, 2023
As forecasted, Phoenix’s hotel industry ranked second all-time among Super Bowl host markets in average daily rate (ADR) and revenue per available room (RevPAR) during the weekend of the big game. While the market’s rankings were as forecasted, the values that produced that status were different than projected. ADR ($538) and RevPAR ($468) beat forecasts, while occupancy (86.9%) was lower. When adjusting for inflation (real), Phoenix’s ADR and RevPAR were easily all-time highs for the market. The real RevPAR value dipped to third among Super Bowl hosts behind Miami (2020) and New Orleans ($482). This year’s big game too...
UNWTO Looks to “Re-Write Tourism History” at Official Re-Opening of China
UNWTO | February 24, 2023
UNWTO has heralded the re-opening of China as ‘the final piece in tourism’s recovery’ from the biggest crisis in the sector’s history. Leading a high-level delegation to the city of Hangzhou to join in the official re-opening, UNWTO Secretary-General Zurab Pololikashvili, warmly welcomed the lifting of travel restrictions as a major boost to economic growth and social opportunity both in Asia and the Pacific and globally. According to UNWTO data, the pandemic cost destinations worldwide a combined US$270 billion in Chinese outbound tourist spending in 2020 and 2021 alone. The re-opening of borders therefore represents “the moment...
STR: U.S. Hotel Results for Week Ending 18 February
STR | February 23, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 February. 12-18 February 2023 (percentage change from comparable week in 2019*): Occupancy: 60.8% (-5.5%) Average daily rate (ADR): US$156.10 (+19.5%) Revenue per available room (RevPAR): US$94.94 (+12.9%) U.S. weekly hotel occupancy reached the 60% mark for the first time since the week ending 19 November 2022. Among the Top 25 Markets, Washington, D.C., saw the only occupancy increase over 2019 (+2.2% to 59.1%). Helped by Super Bowl LVII, Phoenix reported the highest ADR (+58.4% to US$2...
STR: Canada Hotel Performance Surpassed Pre-Pandemic Levels in January
STR | February 23, 2023
HENDERSONVILLE, Tennessee—Canada’s hotel performance fell slightly from the previous month but surpassed the 2019 comparables, according to STR’s January 2023 data. January 2023 (percentage change from 2019) Occupancy: 50.7% (+0.3%) Average daily rate (ADR): CAD167.96 (+14.0%) Revenue per available room (RevPAR): CAD85.11 (+14.2%) “Canada’s hotel industry started off the year on a high note, as performance came in above the 2019 benchmark,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “Despite downward pressure on household di...
GBTA Forecast Expects Key Business Markets in Europe Will Fully Recover in 2026
GBTA | February 22, 2023
Europe makes up lost ground and is anticipated to be the fastest growing business travel market in 2023 London, UK (22 February 2023) – The business travel industry in Europe continues its progress towards full recovery to its pre-pandemic spending levels of USD $392 billion, but the divergent recovery in business travel continues across the region. Europe’s business travel spend now accounts for approximately 20% of global spend compared to 27% in 2019. Emerging Europe and Western Europe were the only regions globally to experience spending declines in 2021, as COVID-19 impacted domestic and regional business travel markets. ...
Cautious Optimism in India’s Hotel Performance Recovery
STR | February 22, 2023
India’s hotel industry turned in a stellar 2022 with revenue per available room (RevPAR) 100% recovered to pre-pandemic levels even with a devastating start to the year caused by a surge in the Omicron variant. Steeper declines, sharper inclines Recovery of RevPAR was more driven by average daily rate (ADR), which indexed at 108 when compared with 2019 levels. However, occupancy recovery was strong as well with an index of 93. Overall, the full recovery of RevPAR means indexing won’t be needed much longer as year-over-year percentage changes become actionable again once the calendar is beyond the Omicron comparables. ...
Greater Houston Lodging Market: On the Mend
Bunmi Adeboye | February 20, 2023
By Bunmi Oyinloye The oil and gas industry remains Greater Houston’s primary economic anchor, defining the market’s business cycle and the area’s economic growth path. The hotel market began to stabilize in 2019 following declines in lodging demand as a result of the volatility of the oil and gas markets, and Greater Houston experienced a steep decline in lodging demand in 2020 given the onset of the COVID-19 pandemic. Recent data illustrate a steady return to pre-pandemic levels, supported by increasing business relocations, ongoing economic development, and the market’s reputation as a global hub for energy, health care, and aero...
Resurgence and Transformation of the Canadian Niagara Falls Hotel Market
Luc Espaillard | February 17, 2023
The Niagara Falls lodging market is rapidly recovering after the devastating pandemic-induced RevPAR decline of 72.9% in 2020. The market-wide RevPAR has reached 98% of the 2019 level in 2022 and is projected to reach 110% in 2023. ADR growth is leading the recovery. The cityscape is also poised for transformation over the next ten to twenty years through the addition of high-rise upper-upscale and luxury hotels, many as part of mixed-use developments. This article describes the proposed hotel supply tracked by HVS and discusses the changing demand patterns affecting the RevPAR performance of the Niagara Falls lodging market in the post-pande...
Beijing Set to Become World’s Largest Travel & Tourism City Destination Says WTTC
WTTC | February 16, 2023
Cities Economic Impact Report analysed 82 cities around the world including four major Chinese metropolises London, UK: Research by the World Travel & Tourism Council (WTTC) has revealed that within the next decade, Beijing will overtake Paris to become the world’s largest Travel & Tourism city destination. The report, sponsored by Visa and researched in partnership with Oxford Economics, ana-lysed key indicators such as Travel & Tourism’s contribution to GDP, employment and trav-eller spend. But while long term the outlook for a number of Chinese cities looks positive, prolonged travel restrictions and border closur...
Travel & Tourism Sector in Key European Capitals Strongly Recovering Says WTTC
WTTC | February 15, 2023
London, UK: A new report from the World Travel & Tourism Council (WTTC) has revealed strong signs of recovery of the economic impact from Travel & Tourism in the five city ‘powerhouses’ of Western Europe. The Cities Economic Impact Report, sponsored by Visa and researched in partnership with Oxford Economics, analysed key indicators such as Travel & Tourism’s contribution to GDP, employment and traveller spend. The study examined the impact of the sector in London, Paris, Berlin, Rome, and Madrid. The report from the global tourism body shows that in 2019, the Travel & Tourism sector contributed over $83.5BN to th...
Manhattan Lodging Index: Q4 2022
PwC’s Manhattan lodging index | February 14, 2023
Manhattan Lodging Overview Increases in occupancy, ADR and revenue per available room (“RevPAR”) continued to accelerate across Manhattan during the second half of 2022. Q4 RevPAR experienced a year-over-year increase of 54.2 percent, with the strongest gains in October - up 85.8 percent. Q3 RevPAR increased 75.1 percent from the same period in 2021. “RevPAR exceeded pre-pandemic levels at Manhattan hotels for the first time in 2H 2022, driven by outsized growth in average daily room rates. Hotels continue to struggle with replacing staff lost during the pandemic. With supply growth expected to be muted over the next several years, ...
U.S. Mayors Call on Biden Administration to Reduce Excessive Visitor Visa Wait Times
U.S. Travel Association | February 14, 2023
A bipartisan group of 44 mayors and officials representing American cities and counties came together to send Secretary of State Antony Blinken a letter urging immediate action to reduce visitor visa interview wait times, which persistently remain above 400 days for would-be travelers from key international inbound markets. The joint letter states: “As a lingering result of the pandemic’s peak, a severe backlog in the processing of U.S. visitor visas is now delaying—in some instances well over a year—the visitation of foreign travelers from key markets who provide much-needed economic and diplomatic benefits to the nation.” ...
Caribbean Hotel Industry a “Comeback Kid”
STR | February 6, 2023
Led by a robust leisure market, the Caribbean experienced strong hotel performance in 2022 as almost all travel restrictions were lifted after being a large hindrance for some countries throughout 2021. Full-year occupancy came in at 60.7%, which was up 36.7% year over year, and down just slightly from 2019 (-3.2%). The region’s lowest occupancy occurred in September (48.9%)—a typical calendar occurrence in the midst of Hurricane season—but peaked recently in December (66.1%) because of holiday travel. Among key countries in the region, Curacao (70.7%), Turks & Caicos (70.3%), and Puerto Rico (69%) ...
Tourism Tidbits: Reviewing Some of the Travel & Tourism Industry’s Basic Principles – Part Two of a Two-Part Series
Dr. Peter E. Tarlow | February 6, 2023
Dr. Peter Tarlow We began the year by reviewing some of the fundamental principles of a successful tourism business or industry. Tourism is multifaceted and despite the fact that there is no one form of tourism many of the industry’s basic principles hold true no matter in which aspect of the travel and tourism industry one works. Despite our cultural, linguistic, religious, and geographic differences human beings are basically the same around the world and the best principles of good tourism transcend cultures, languages, nations, and religious affiliations. Due to tourism’s unique ability to bring people together if used pro...
Recent Trends in Washington, D.C.’s Luxury Hotel Market
Caroline Dioso | February 2, 2023
By Caroline Dioso, Chelsey Leffet Historical Luxury Market Performance According to data compiled by STR, in recent years, the luxury segment has fallen 2–5% behind the Washington, D.C. market average in occupancy, while luxury rates have paced roughly $150 to $200 above average. This rate difference is largely due to a few luxury hotels that perform at a higher rate threshold than the remainder of the luxury class, including the Four Seasons, the Waldorf Astoria, both Ritz-Carlton properties, the Hay Adams, and the St. Regis. These higher-rated hotels make up 15% of the total luxury room supply in the District. The 2022 mar...
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