Knowland and ConferenceDirect Release 2023 State of the Meetings Industry Report
Knowland | December 19, 2022
Market Reports
STR: U.S. Hotel Results for Week Ending 18 March
STR | March 23, 2023
HENDERSONVILLE, Tennessee—Helped by spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 March. 12-18 March 2023 (percentage change from comparable weeks in 2022, 2019): Occupancy: 67.6% (+1.3%, -2.5%) Average daily rate (ADR): US$167.04 (+8.9%, +23.9%) Revenue per available room (RevPAR): US$112.89 (+10.4%, +20.8%) Among the Top 25 Markets, Boston saw the highest year-over-year increase in occupancy (+17.8% to 71.8%), while Houston saw the highest occupancy lift over 2019 (+9.6% to 72.5%). Las Vegas showed the most substantial ADR (+77.9% to US$3...
SAHIC Preview: Business Travel Demand Returning Across South America
STR | March 23, 2023
BOGOTÁ—South America’s weekday hotel occupancy, a lead indicator of business travel, is moving closer to pre-pandemic levels, according to the latest data from STR that will be presented at the SAHIC Hotel & Tourism Investment Forum. Among key markets in the region, São Paulo has seen stronger occupancy recovery on weekends compared to weekdays, but shoulder days (Sunday and Thursday), which combine both business and leisure travel, have been the best performing days in the market. Panama City, on the other hand, saw better weekday performance with Wednesdays showing the second-highest occupancy level in 2022 (a...
European Hotel Values Rise 3% in 2022 in What Proved a Mixed Year for the Sector
March 23, 2023
Hotel values across Europe rose around 3% in 2022 with Paris, London, Zürich, Amsterdam and Rome remaining those with the highest valued hotels, according to our annual European Hotel Valuation Index (HVI) published this week. During 2022, hotel values benefitted from a number of factors including strong improvement in RevPAR and the recovery of ancillary revenues. Despite this, high inflation, an increasing cost of debt and the looming threat of recession limited the recovery of values, leaving them below their 2019 peak. ‘The pandemic year of 2020 witnessed hotel values plummet by around 15%, although they rallied by around 5...
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...
STR: U.S. Hotel Performance for February 2023
STR | March 21, 2023
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior, according to February 2023 data from STR. February 2023 (percentage change from February 2019): Occupancy: 60.0% (-2.8%) Average daily rate (ADR): US$152.01 (+17.7%) Revenue per available room (RevPAR): US$91.22 (+14.3%) Among the Top 25 Markets, Tampa experienced the highest occupancy level (82.7%), which was down 2.7% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included Chicago (50.1%) and St. Louis (52.7%). San Francisco reported the steepest decline in occupancy when com...
Travel and Tourism Industry Deal Activity Sinks by 60.4% YoY in February 2023, Reveals GlobalData
GlobalData | March 20, 2023
The global travel and tourism industry, which has been struggling to rebound from the COVID-19 pandemic induced slowdown, is facing another setback with a significant drop in deal activity. The industry, which relies heavily on investment and strategic partnerships, saw a steep year-on-year (YoY) 60.4% decline in deal activity in February 2023, reveals GlobalData, a leading data and analytics company. An analysis of GlobalData’s Financial Deals Database reveals deal volume in the industry more than halved from 111 deals* announced during February 2022 to 44 deals announced during February 2023. Aurojyoti Bose, Lead Analyst at G...
International Visitors Spent $14.7 Billion on Travel to U.S. in January 2023
NTTO | March 20, 2023
Data recently released by the National Travel and Tourism Office (NTTO) show that in January 2023: International visitors spent more than $14.7 billion on travel to, and tourism-related activities within, the United States, an increase of nearly 64 percent compared to January 2022 and marking the twenty-second consecutive month of year-over-year gains (when compared to the same month, previous year). Americans spent more than $15.8 billion traveling abroad, more than any single month prior to the pandemic, yielding a balance of trade deficit of nearly $1.1 billion for the month. This was the third time in the past 6 months that trave...
STR: Riyadh Hotels Post Highest February Occupancy Since 2008
STR | March 17, 2023
LONDON – Riyadh’s hotel occupancy was its highest for a February since 2008, according to preliminary data from STR. Occupancy: 75.5% Average daily rate (ADR): SAR801.46 Revenue per available room (RevPAR): SAR605.06 Each of the three key performance metrics came in significantly higher than the pre-pandemic comparables from 2019: occupancy (+23.4%), ADR (+34.0%) and RevPAR (+65.3%). According to daily data, the market recorded occupancy over 90% for three consecutive days from 6-8 February, helped by the International Conference and Exhibition for Science. Further STR analysis can be found here....
STR: Madrid Hotel Industry Reported Higher Performance in February
STR | March 17, 2023
LONDON – Aligned with historical trends for the market, Madrid’s hotel industry reported higher performance from the month prior, according to preliminary February 2023 data from STR. Occupancy: 64.5% Average daily rate (ADR): EUR127.89 Revenue per available room (RevPAR): EUR82.50 The market’s ADR and RevPAR levels surpassed the 2019 comparables, +26.0% and +10.2%, respectively, while occupancy remained lower than the pre-pandemic comparable (-12.5%). Daily data shows Wednesday, 22 February (81.7%) and Saturday, 25 February (85.4%) as the only two days of the month with occupancy above the 80% mark, helped by ARCO M...
HVS Las Vegas Casino and Hotel Market Outlook 2023
Shannon Okada | March 17, 2023
By Shannon S. Okada Las Vegas’s 38.8 million total visitors in 2022 was roughly 91.3% of 2019 levels and only 4.1 million below the peak number of visitors in 2016. Gaming revenue for Clark County in 2022 was $12.8 billion, a new record for the market. Statistics from the Las Vegas Convention and Visitors Authority reflect 43.6 million total occupied room nights for Las Vegas in 2022, 20.6% more than in 2021. Occupied room nights, as well as total occupancy (79.2%), continued to lag 2019 performance, but the market’s ADR ($170.98) and RevPAR ($135.42) reached record levels in 2022. This article examines the latest trends and de...
STR: U.S. Hotel Results for Week Ending 11 March
STR | March 16, 2023
HENDERSONVILLE, Tennessee—Helped by the onset of spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through 11 March. 5-11 March 2023 (percentage change from comparable weeks in 2022, 2019): Occupancy: 64.7% (+2.8%, -7.5%) Average daily rate (ADR): US$158.20 (+8.1%, +16.6%) Revenue per available room (RevPAR): US$102.38 (+11.1%, +7.8%) Among the Top 25 Markets, Washington, D.C., saw the highest year-over-year increase in occupancy (+21.8% to 67.6%). None of the Top 25 Markets saw an occupancy lift over 2019. D.C. also showed the most substantial ADR (+23.4% t...
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...
ITA Data Release: December and Calendar Year 2022 Total International Travel Volume
International Trade Administration | March 15, 2023
Data recently released by the National Travel and Tourism Office (NTTO) show that in December 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 5,015,338, increased +46.2% compared to December 2021 and represented 72.9% of the pre-COVID total visitor volume reported for December 2019, down from November's 75.5%. Overseas visitor volume to the United States of 2,481,680 increased +46.0% from December 2021. December 2022 was the twenty-first consecutive month that total non-U.S. resident international arrivals to the United States increased on a year-ove...
STR: U.S. Hotel Results for Week Ending 4 March
STR | March 10, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance fell from the previous week, according to STR‘s latest data through 4 March. 26 February through 4 March 2023 (percentage change from comparable weeks in 2022, 2019): Occupancy: 62.8% (+3.0%, -5.6%) Average daily rate (ADR): US$151.35 (+8.9%, +14.1%) Revenue per available room (RevPAR): US$95.06 (+12.1%, +7.7%) Among the Top 25 Markets, Detroit saw the highest occupancy increase over 2019 (+5.0% to 63.2%), while Washington, D.C. was up the most from last year (+23.6% to 64.1%). D.C. also showed the most substantial RevPAR growth year over year (+52.2% to US$113.56)....
Tampa Bay Lodging Market: A High-Impact Destination
Hannah McManus | March 9, 2023
By Hannah McManus, Angela Lahti The greater Tampa Bay market area has experienced aggressive growth in the post-pandemic period, reinforcing the market’s position as a high-impact tourism destination. In January 2020, Visit Tampa Bay set a goal to reach one billion dollars in hotel-room revenue by year-end 2025, and this mission was accomplished by Hillsborough County three years ahead of schedule in 2022. Record levels of gross tourist tax collections, a 6% tax levied on hotel room revenues, were also reported in both Hillsborough and Pinellas counties in 2022, far surpassing collections reported in 2019. Average daily rate (ADR) is...
Key Takeaways From the GF Hotels Forum, Q1 2023
Jerod Byrd | March 8, 2023
By Jerod S. Byrd It’s a difficult lending environment across the nation at the moment, but RevPAR is expected to continue to rise in the foreseeable future, particularly supported by ADR growth. Debt, while very expensive, is available, and one lesson learned from the pandemic is the importance of sponsorship, including relationships with the brands. Below is the SWOT analysis for the U.S. hotel real estate and investment industry as outlined at the GF Hotels Forum in Towson, Maryland. Current strengths of the hotel real estate industry Hotels are a good inflation hedge for investors. Assets being put up for auction are s...
Report: Tripadvisor Releases Seasonal Travel Index of 2023 Outlining Traveler Sentiment
Tripadvisor | March 7, 2023
Two-thirds of travelers surveyed planning trips between March and May 2023 Half (50%) plan to spend more this upcoming season, compared to the same period last year Almost half (45%) will travel the same amount, while two in five 41% plan to travel more Major cities - including Paris, London, New York and Rome - dominate the list of top global destinations NEEDHAM, Mass., March 7, 2023 -- Tripadvisor®, the world's largest travel guidance platform, releases its first Seasonal Travel Index of 2023, providing an outlook for travel patterns and demand over the next three months. Overview The majority of travelers (6...
A Super, Super Bowl LVII in the Valley
Zabada Abouelhana | March 6, 2023
By Zabada N. Abouelhana On February 12, Super Bowl LVII was held in Glendale’s State Farm Stadium with nearly 68,000 spectators. Attendance levels were just below the average for the last eight Super Bowls (excluding the COVID-19-affected year of 2021) and below the 2015 game’s 70,288 attendees, also in Phoenix. However, this year’s event did not disappoint the hotel industry in Greater Phoenix. Prior to the weekend, STR forecasted Phoenix’s Super Bowl weekend performance: 94% occupancy levels at $445 average rates, equating to $419 revenue per available room (RevPAR)—the second-highest levels for a Super Bowl weekend in hi...
International Travel, Multigenerational Trips Popular This Spring Break
AAA | March 2, 2023
WASHINGTON, DC (March 2, 2023) – More Americans are heading abroad this Spring Break. AAA booking data shows international travel this season is up 30% over 2022. Many families are also taking multigenerational vacations. A new AAA survey shows more than 40% of U.S. adults with Spring Break plans are traveling with three generations. “Families are making up for lost time,” said Paula Twidale, AAA Senior Vice President of Travel. “We’ve seen a spike in international Spring Break bookings. Americans are taking advantage of the strong U.S. dollar and the exchange rate in Europe. Travelers looking for warm weather are flocking to ...
STR: U.S. Hotel Results for Week Ending 25 February
STR | March 2, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 25 February. 19-25 February 2023 (percentage change from comparable week in 2019*): Occupancy: 64.2% (-1.5%) Average daily rate (ADR): US$156.51 (+22.2%) Revenue per available room (RevPAR): US$100.43 (+20.3%) The U.S. weekly occupancy level was the highest since the week ending 12 November 2022. Among the Top 25 Markets, Orlando saw the highest occupancy increase over 2019 (+6.2% to 86.9%). Las Vegas reported the highest ADR (+49.5% to US$186.96) and RevPAR (+51.8% to US$148.61) increases ov...
Easter Swing Shifts School Breaks Substantially in Spring 2023
STR | March 1, 2023
As spring break season approaches, tracking school calendar data becomes critical for predicting travel demand across the U.S. The swings from one academic year to another can generate substantial waves in hotel performance, since vacation scheduling directly impacts over 50 million public K-12 students across the country, not to mention their families. Beginning with the second weekend of March, spring break 2023 will kick into gear for school districts around the U.S. From Saturday, 11 March through Friday, 17 March, roughly one third of all K-12 students will be on break and available to travel. By the end of the week, the p...
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...
Global Hotel Industry Starts 2023 Strong as More Than 60% of Properties Recovered RevPAR Versus 2019
STR | February 28, 2023
STR’s global “bubble chart” updated through 17 February 2023 showed generally strong performance to kickstart the year. Among all countries with room supply of more than 50,000 rooms, Israel, Switzerland, Singapore, France and the United Arab Emirates led in revenue per available room (RevPAR) on an actual basis. If you recall, Israel, Switzerland and Singapore were among the top five in RevPAR during 2022 and that strength has continued early 2023. On the other hand, Tunisia, Hungary, Poland, Czech Republic, and Indonesia were among the bottom five performers in RevPAR. Of note, this was the first time in the last seven of these g...
1
Industry Happenings
2
Technology
3
Operations
4
All Things Independent
5
Appointments/People on the Move
Today's News
voco Guadalajara Neruda Opens in Mexico With 104 Guestrooms
IHG Signs With Arabella Group to Develop Three New Hotels in Egypt
STR: U.S. Hotel Results for Week Ending 18 March
SAHIC Preview: Business Travel Demand Returning Across South America
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.