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Hotel Recovery

Home/Hotel Recovery

Hotel Recovery

Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover

Adam and Larry Mogelonsky | January 11, 2023

Four Creatively Destructive Forces for the Hotel Industry

Larry and Adam Mogelonsky | July 13, 2022

Hotel Recovery

New York City’s Comeback and Luxury Destinations Highlighted U.S. Hotel Performance Recovery in 2022

STR | January 25, 2023

Top-line performance recovery was aplenty around the U.S. in 2022 as record-breaking levels of demand were combined with strong pricing power in an inflationary setting. Among the recovery highlights, New York City made a phenomenal comeback to grab the nation’s top spot in revenue per available room (RevPAR), while smaller hotel destinations with a primary focus on high-end travelers also found significant levels of success for the year. Overall, New York City’s nominal RevPAR (non-inflation adjusted) for 2022 led the Top 25 Markets at $215. That level was down $4 from 2019 but up 72% year over year. Rounding out the Top 25 ...

With So Many Headwinds, Why Are People Still Traveling?

STR | January 24, 2023

At the end of 2022, data and insights from STR showed the hospitality industry at substantial levels of performance recovery around the globe with no signs of demand significantly slowing. So, with rising inflation, record-high travel prices, flight disruptions and short-staffed hotels, why are people still traveling? This piece from STR provides some answers based on consumer research of more than 1,000 travelers at the end of November 2022. Rising inflation? No problem, travelers expect to spend more on travel. It appears that travelers are taking rising prices in stride. When asked about their expected spend in five maj...

HVS Outlook 2023: Beyond the Recovery

Anne R. Lloyd-Jones | January 23, 2023

By Anne R. Lloyd-Jones, McKenna Luke Despite persistent high inflation, an active Fed, and accelerating recessionary concerns, the lodging industry sustained the strong growth recorded in Q2 and Q3 of 2022 through the balance of the year. Transient demand continued to lead the recovery, surpassing 2019 levels in 19 of the past 21 months. The leisure segment remains a dominant influence, with business demand returning at a slower pace, although increasing levels of “bleisure” demand are blurring the distinction between these two sectors. Group demand rebounded to roughly 80% of 2019 levels; after the initial return of small to medium-si...

Tourism Set to Return to Pre-Pandemic Levels in Some Regions in 2023

UNWTO | January 17, 2023

Based on UNWTO's forward-looking scenarios for 2023, global international tourist arrivals could reach 80% to 95% of pre-pandemic levels this year, depending on the extent of the economic slowdown, the ongoing recovery of travel in Asia and the Pacific and the evolution of the Russian offensive in Ukraine, among other factors. All regions bouncing back UNWTO anticipates a strong year for the sector even in the face of diverse challenges including the economic situation and continued geopolitical uncertainty According to new data UNWTO, more than 900 million tourists travelled internationally in 2022 – double the number recorded in 20...

Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover

Adam and Larry Mogelonsky | January 11, 2023

By Adam and Larry Mogelonsky While the pent-up demand from 2022’s travel recovery has now normalized, hotels are still mired by inflationary wages and high turnover. This presents a sweeping, existential issue for the industry on multiple fronts, with labor issues at the forefront of discussion heading into this year’s ALIS (American Lodging Investment Summit), happening January 23-25 in Los Angeles. For owners and investors, increasing labor costs mean less going to the bottom line which can disincentivize capex and product innovation. For operations, staying within budget can mean cutting corners elsewhere, ultimately impacting se...

Indian Hospitality Sector – Crystal Gazing Into 2023

Mandeep S. Lamba | January 6, 2023

By Mandeep S. Lamba, Dipti Mohan The Indian hospitality sector is expected to see accelerated growth in 2023, in spite of ongoing global headwinds and the uncertainty brought on by the occasional COVID-scare. This will be driven primarily by buoyant domestic demand, the gradual revival of inbound travel, and the Indian government’s renewed emphasis on the expansion of the tourism industry, which is expected to contribute US$250 billion to the country’s GDP by 2030. The government also intends to release the National Tourism Policy soon to promote sustainable and inclusive tourism growth in the country. The hotel sector should develop s...

The Cleveland Market Is on Pace for Full Recovery

Brandon Leversee | January 4, 2023

By Brandon Leversee The recovery of Cleveland’s travel and tourism industry is well underway following the severe downturn in 2020. According to Destination Cleveland, business and leisure travelers to Cuyahoga County in 2021 increased by 17% from the levels recorded in 2020. This increased visitation resulted in a total economic impact of $9.3 billion. Industry officials predict that Cleveland and Cuyahoga County will fully recover by 2024, despite rising inflation and continued staffing shortages, as well as the possibility of a national recession in 2023. Cuyahoga County Market—Recovery to 2019 Performance Source: Destination...

Hotel Occupancy Slows as the Holidays Near

STR | December 22, 2022

Note: The Market Recovery Monitor will be off for the holidays during the final week of December. The next and final edition of the MRM is scheduled to run on 6 January. Beginning 13 January, the MRM will be replaced by a new series, “STR Weekly Insights.” Methodology update: This will be one of the final weekly analyses to utilize STR’s current non-participant modeling methodology and U.S. Top 25 Markets. In 2023, Las Vegas will replace Norfolk/Virginia Beach in the Top 25. Read more HERE. Key Takeaways: U.S. occupancy began the normal pre-holiday decline Skiing areas posted the highest ADR increases in the U.S...

Recent Trends in Vacationland: The Ebb and Flow of the Coastal Maine Lodging Market

Brian Bisema | December 19, 2022

By Brian F. Bisema, Raymond Parejo The primary economic engine of Coastal Maine, also known as Vacationland, is the summer tourist season, which experienced tremendous growth in 2021 and continued strengthening in 2022. Attractions such as Acadia National Park, local beaches, lighthouses, and a host of restaurants, bars, breweries have remained the drivers of leisure travel. Bleisure travel (a combination of business and leisure travel) to the Maine/Greater New England area has also increased substantially over the past 18 months, further bolstering lodging performance. Despite the staggered opening of the U.S.–Canada border, and with C...

Almost Home: The Boston Hotel Market Approaches a Recovery

Erich Baum | December 13, 2022

By Erich Baum, Brian F. Bisema, Raymond Parejo According to STR, Boston’s revenue per available room (RevPAR) finished 2021 at roughly half the pre-pandemic 2019 level, a discouraging performance. But the city took a leap forward in 2022 and is on pace to finish the year with a RevPAR level just a shade below the pre-pandemic performance. After adjusting for inflation, these results are less significant, of course, but the turnaround still represents a huge achievement, particularly considering that the recovery is still in progress for the international travel, corporate transient, and convention demand channels. As illustrated in the ...

Saudi Arabia’s Tourism Landscape – Establishing a Vision

Zabada Abouelhana | December 1, 2022

By Zabada N Abouelhana, Ahmad Yousry Elbeheiry Saudi Arabia is entering an entirely new tourism landscape with its Saudi Vision 2030 initiatives. With a strong economic outlook, a diversification of its economy, and significant governmental support, the hospitality and tourism markets across the Kingdom are expected to thrive over the next decade. Economic Performance & Outlook Saudi Arabia is the largest economy in the Arab world and the world’s largest crude oil exporter. In 2016, the Saudi Government launched its Saudi Vision 2030 to diversify its economic resources. The Kingdom’s plans focus on service improvement, fisc...

Global Traveller Survey Reveals International Travel Is Back

WTTC | November 28, 2022

More than a quarter of consumers plan on three or more international trips Australians to spend more on travel than any other nation London, UK: As the World Travel & Tourism Council (WTTC) opens its 22nd Global Summit in Riyadh, a new global consumer survey has revealed that the appetite for international travel is now at its highest point since the start of the pandemic. According to the survey of more than 26,000 consumers from 25 countries, conducted by YouGov for WTTC, 63% are planning a leisure trip in the next 12 months. The survey reveals that the appetite to travel shows no signs of slowing, with more than a quarter (27%)...

Tourism Recovery Accelerates to Reach 65% of Pre-Pandemic Levels

UNWTO | November 23, 2022

An estimated 700 million tourists travelled internationally between January and September, more than double (+133%) the number recorded for the same period in 2021. This equates to 63% of 2019 levels and puts the sector on course to reach 65% of its pre-pandemic levels this year, in line with UNWTO scenarios. Results were boosted by strong pent-up demand, improved confidence levels and the lifting of restrictions in an increasing number of destinations. Highlighting the speed at which the sector has recovered from the worst crisis in its history, the latest World Tourism Barometer from UNWTO reveals that monthly arrivals were 64% below 2...

U.S. Top 25 Markets Still Behind 2019 Occupancy Even With Continued Return of Groups

STR | November 23, 2022

U.S. hotel occupancy leaders and laggards in this mid-November 2022 “bubble” chart update reflect anticipated seasonal shifts, the continued return of corporate and group demand in large-to-medium sized markets, and a persistent impact from Hurricane Ian. Additionally, the Top 25 Markets mostly trailed 2019 occupancy levels whereas a solid majority of markets outside of the Top 25 were ahead of the pre-pandemic comparable. Among those Top 25 Markets, New York City continued its firm hold as autumn’s top occupancy market at a level of 84.7% for the four weeks ending 12 November—a small gain from the previous four weeks. In...

STR: Canada Hotel Performance Recovery Continued in October

STR | November 23, 2022

HENDERSONVILLE, Tennessee—Following seasonal patterns, Canada’s hotel performance fell from the month prior but average daily rate (ADR) and revenue per available room (RevPAR) were higher than the pre-pandemic comparables, according to STR’s October 2022 data.   October 2022 (percentage change from October 2019) Occupancy: 66.8% (-1.0%) Average daily rate (ADR): CAD179.70 (+13.3%) Revenue per available room (RevPAR): CAD120.05 (+12.3%) “With the height of summer travel behind us, Canada’s lower hotel performance in October was expected,” said Laura Baxter, CoStar Group’s director of hospitality analytics for ...

Staycationers Behaving Badly

PolyU’s School of Hotel and Tourism Management | November 22, 2022

COVID-19 has changed how we holiday: out with crowding into airports to fly to distant resorts; in with staying close to home. Although this might seem an effective way to support local tourism while containing the virus, research by Ph.D. student Mr Wilson Au, Dr Nelson Tsang and Dr Clare Fung of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University reveals a downside of “staycationing”. In Hong Kong, many holidaymakers confined to local hotels during the pandemic have begun to behave badly, taking a toll on staff’s mental health. This timely study highlights the need for hotels to remove incentives ...

Competition for Leisure Guests Heats Up Between Hotels and Short-Term Rentals

AirDNA | November 14, 2022

DENVER, Nov. 14, 2022 -- A new joint report from hospitality data supplier STR and short-term rental analytics provider AirDNA shows that competition between short-term rentals and hotels has accelerated in the fight for leisure guests, with the price gap tightening and rental supply falling behind in urban markets. During the pandemic, the U.S. short-term rental sector used its supply flexibility to recover faster than hotels, especially in coastal and mountain destinations, pushing rentals' market share to a record 17% of total lodging in summer 2020. Hotels retargeted towards leisure guests to reclaim demand, focusing on urban areas, pu...

Q3 2022 Major U.S. Hotel Sales Survey

Daniel Lesser | November 9, 2022

By Daniel Lesser Economists, politicians, and business leaders are split on whether the U.S. economy is heading for a recession, is already in one, or will merely experience a slowdown. With continued supply chain disruptions, geopolitical conflicts (most notably the war in Ukraine), and the Fed’s determination to continue increasing the federal funds interest rate, there is tremendous uncertainty around inflation and where the economy is heading. Mixed signals abound, however U.S. gross domestic product (GDP) increased for the first time this year in the third quarter, expanding at a higher-than-expected 2.6 percent annually. Unemployme...

Global Real Estate Perspective November 2022: Lodging Fundamentals Strengthen

JLL | November 3, 2022

The lodging industry’s recovery continued to accelerate in the first nine months of 2022, despite increasing global economic uncertainty and deep labor shortages across travel and tourism companies. Year-over-year, hotel occupancy and average daily rate (ADR) across all regions showed growth supported by strong domestic and emerging international travel demand. Urban markets are experiencing greater momentum in their recovery as more employees return to the office, and leisure travelers are once again drawn to restaurants and live entertainment venues. Across the Americas, Miami, San Juan, New York, Los Angeles and Boston achieved the hi...

New Delhi Hotels Lead Profitability Recovery in Asia Pacific

STR | November 2, 2022

LONDON—Four key Asia Pacific hotel markets, led by New Delhi, surpassed their pre-pandemic levels in gross operating profit per available room (GOPPAR), according to STR’s September 2022 P&L data release. New Delhi’s September GOPPAR came in at US$54.58, which was 124% of the comparable 2019 level. In August, the market reported a GOPPAR level of US$45.55, which was 176% of the pre-pandemic comparable. Singapore (107%), Kuala Lumpur (104%) and Sydney (104%) were the other key markets in the region that achieved a GOPPAR level higher than the 2019 comparable. Of note, Tokyo registered the largest month-over-mont...

In Focus: Cortina d’Ampezzo, Italy

Lorenzo Gullotta | November 1, 2022

By Lorenzo Gullotta, Pavlos Papadimitriou, Ezio Poinelli The municipality of Cortina d’Ampezzo, also referred to as only “Cortina”, is part of the Province of Belluno, in the Veneto region, in northern Italy. The town is located in the southern Dolomitic Alps, in the centre of the Ampezzo valley, on the Boite River. With 5,649 inhabitants, Cortina d'Ampezzo is the eight most populous municipality of the province of Belluno. It is a renown winter and summer holiday destination, especially popular for skiing, with 120 kilometres of slopes and 38 lifts. Nicknamed “The Pearl of the Dolomites”, the town is prominent for its picturesq...

Hotel Performance Pushes Back to Seasonal Patterns

HotStats | October 31, 2022

As the global pandemic appears further in the rearview mirror, hotel performance is driving back to more recognizable, dependable and stable movements on the top and bottom line. Consider, first, Europe. There, gross operating performance in September 2022 was up 39% over August 2022. In comparison, GOPPAR in September 2019 increased 34% versus August 2019. Meanwhile, total revenue per available room (TRevPAR), grew 20% in September 2022 versus August 2022 and 18% in September 2019 versus to August 2019. It’s getting clearer that hotel performance is becoming more dependable and based on seasonality rather than other market variables,...

U.S. Travel: Meals and Entertainment Tax Bill Will Boost Small Businesses, Travel Workers

U.S. Travel Association | October 26, 2022

U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on the introduction of the Service Worker Economic Stabilization Act, introduced by Congressmen Darin LaHood (R-IL) and Jimmy Panetta (D-CA): “This critical bill helps put business travel spending and in-person meetings on a level playing field with other legitimate business expenses while supporting small business owners and workers in America’s restaurants, theaters, arts and entertainment venues. “Business travel spending is not expected to fully recover until 2027, and this bill will help bridge th...

Aimbridge Hospitality Welcomes 93 Associates to AHLA Foundation’s Fall 2022 Apprenticeship Program

Aimbridge Hospitality | October 24, 2022

Industry leader is committed to driving internal growth, excellence and development PLANO, Texas, October 24, 2022 — Aimbridge Hospitality, a leading global hospitality company, ​​announced a cohort of 93 new associates joining its American Hotel & Lodging Association (AHLA) Foundation Fall 2022 Lodging Manager Apprenticeship Program. The cohort is another example of the investments Aimbridge is making to secure top industry talent and foster an environment of growth and development across its team. “We’re taking meaningful action to invest in our associates’ development and are extremely proud of our team’s commitment...

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