Global Hotel Industry Faces Mixed Fortunes Amid Rising Costs and Varied Demand
HotStats | August 3, 2023
Knowland Reports Meetings and Events Growth for June at 30.3 Percent
Knowland | July 12, 2023
Market Reports
U.S. Hotel Performance for December 2023
CoStar Group | January 22, 2024
WASHINGTON – 22 January 2024 – As expected due to the holiday season, the U.S. hotel industry reported lower performance results month over month, according to December 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (percentage change from December 2022): Occupancy: 52.6% (-1.8%) Average daily rate (ADR): US$151.13 (+2.1%) Revenue per available room (RevPAR): US$79.42 (+0.3%) Among the Top 25 Markets, New York City experienced the highest occupancy level (86.6%), which was up 4.3% year over year. M...
U.S. Hotels Posted Record-High ADR and RevPAR in 2023
CoStar Group | January 18, 2024
WASHINGTON – 18 January 2024 – The U.S. hotel industry posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 2023 (percentage change from 2022): Occupancy: 63.0% (+0.6%) ADR: US$155.62 (+4.3%) RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019. Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+8.8% to 81.6%), ADR ...
Planning Phases of U.S. Hotel Pipeline Reflect Confidence in Travel
CoStar Group | January 18, 2024
WASHINGTON – 18 January 2024 – Activity in the planning phases of the U.S. hotel pipeline remain up, while rooms in construction decreased after two months of gains, according to CoStar’s December 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline December 2023 (percentage change from December 2022) In construction: 152,114 rooms (-4.5%) Final Planning: 255,039 rooms (+19.7%) Planning: 318,597 rooms (+32.7%) “The number of rooms in construction fell in December following a nearly 7% increase in October that held steady...
December 2023 International Air Passenger Travel to and from the United States
APIS/I-92 Program | January 18, 2024
Air Passenger Enplanements Up 15.4% Year Over Year in December 2023 Air Passenger Travel Between the United States and Europe Up 9.9% in December 2023 Data recently released by the National Travel and Tourism Office (NTTO) show that in December 2023: U.S.-international air traffic passenger enplanements1 totaled: 21.630 million in December 2023, up 15.4% compared to December 2022, with enplanements reaching 102.5% of pre-pandemic December 2019 volume. Originating Non-Stop Air Travel in December 2023 Non-U.S. citizen air passenger arrivals to the United States from foreign countries totaled: 5.201 million in D...
New Forecast Predicts United States will Continue to Struggle for International Inbound, Domestic Business Travel
U.S. Travel Association | January 18, 2024
United States Trailing Global Competitors; National Leadership Increasingly Critical WASHINGTON (January 18, 2024)—The U.S. Travel Association today released its biannual forecast for travel to and within the United States through 2027, showing international inbound travel and domestic business travel will continue to remain below pre-pandemic levels in 2024. The forecast, prepared by Tourism Economics, was released just days after U.S. Travel revealed the findings of a global competitiveness report conducted by Euromonitor International. The report found the U.S. ranked 17th out of 18 top markets for travel due to decades of underinves...
Little Rock, Arkansas: New Developments and Opportunities for Hotels
Kathleen D. Donahue | January 17, 2024
By Kathleen D. Donahue Little Rock is experiencing growth, both recent and potential. Propelled by average rate growth, hotel RevPAR in Little Rock continued to improve in 2023, with occupancy meeting or exceeding prior pandemic levels at most hotels. In addition to a recovery trend in both business travel and group demand, tourism and leisure demand in the Natural State experienced significant growth after the pandemic. There is a push for a resurgence in Downtown Little Rock, focusing on enhancements to the River Market District, including creating a revamped meeting and group destination. A deck park, similar to Dallas’ Klyde Wa...
Sydney Hotels Posted Record-High Room Rates in December
CoStar Group | January 16, 2024
WASHINGTON – 16 January 2024 – Helped by New Year’s Eve, Sydney’s hotel industry recorded its highest monthly average daily rate (ADR) on record, according to December preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (year-over-year % change): Occupancy: 77.1% (+9.9%) Average daily rate (ADR): AUD313.27 (+4.8%) Revenue per available room (RevPAR): AUD241.66 (+15.3%) According to the daily data, Sydney hotels achieved their highest occupancy level on New Year’s Eve (94.0%), followed by Saturday, 2 Decem...
France to Keep Its Crown as Most Popular Destination for International Visitors, Reveals WTTC
World Travel & Tourism Council | January 15, 2024
New data shows arrivals on brink of sector high Seat capacity to surpass pre-pandemic levels Nice surges as a key destination Paris, France: Latest flight booking data from the World Travel & Tourism Council (WTTC) and its knowledge partner ForwardKeys, shows France is set to keep its pole position as the world’s most popular destination for international arrivals this year. The research reveals a positive outlook for France's inbound travel, with arrivals set to almost reach pre-pandemic highs this year. During her participation at the Destination France event taking place in Chantilly and hosted by President Macron, ...
COP28 and New Year’s Eve Boosted Dubai Hotel Performance in December
CoStar Group | January 15, 2024
WASHINGTON – 15 January 2024 – Helped by COP28 and New Year’s Eve, Dubai’s hotel industry reported its highest monthly average daily rate (ADR) on record, according to preliminary December data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (year-over-year % change): Occupancy: 79.2% (+3.5%) Average daily rate (ADR): AED1,060.61 (+19.0%) Revenue per available room (RevPAR): AED839.98 (+23.2%) The RevPAR level was the highest since January 2015. According to the daily data, Dubai saw its highest occupancy level on Ne...
London Hotel Performance Jumped During Holiday Season
CoStar Group | January 15, 2024
WASHINGTON – 15 January 2024 – Helped by the holiday travel season, London hotels posted significant performance levels, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (year-over-year % change): Occupancy: 80.5% (+5.7%) Average daily rate (ADR): GBP208.90 (+2.0%) Revenue per available room (RevPAR): GBP168.07 (+7.8%) The ADR and RevPAR levels were the highest for any December on record in the market, while occupancy was the highest for any December since 2018. According to daily d...
Baird/STR Hotel Stock Index Jumped 10.5% in December, Ended Year Up 38.4%
Baird | January 12, 2024
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 10.5% in December to a level of 6,760. For 2023, the stock index was up 38.4%. “Hotel stocks – like the broader market – finished 2023 on a high note as the ‘soft landing’ narrative and lower interest rate outlook continued to boost investor sentiment and valuation multiples,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Both the hotel brands and hotel REITs were up more than 10% in December and outperformed their respective benchmarks. For the year, the hotel REITs’ 19% gain more than doubled the return of re...
International Visitors Spent $19.0 Billion in the United States in November 2023
National Travel and Tourism Office | January 12, 2024
International Visitors Spent $19.0 Billion in the United States in November 2023 Data recently released by the National Travel and Tourism Office (NTTO) show that in November 2023: International visitors spent $19.0 billion on travel to, and tourism-related activities within, the United States, an increase of more than 21 percent compared to November 2022 and the highest level of monthly spending since December 2019 (before the onset of reported COVID-19 cases). In fact, monthly U.S. travel and tourism exports are within $1.8 billion of their highwater mark set back in March 2018 when international visitors spent an appre...
U.S. Hotel Results for Week Ending 6 January
CoStar Group | January 11, 2024
WASHINGTON – 11 January 2024 – U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 31 December 2023 through 6 January 2024 (percentage change from comparable week in 2023): Occupancy: 46.8% (-0.7%) Average daily rate (ADR): US$152.17 (+7.2%) Revenue per available room (RevPAR): US$71.28 (+6.4%) Among the Top 25 Markets, New Orleans saw the largest year-over-year increases in each of the three key pe...
Stunning New Research Ranks United States Nearly Dead Last in Competition for Global Travelers
U.S. Travel Association | January 11, 2024
Due to slow recovery and declining U.S. global travel market share, U.S. Travel Association commissioned Euromonitor International to assess the competitiveness of the U.S. relative to other top countries for global travel. The U.S. ranked 17th out of 18 countries analyzed, stemming from decades of underinvestment and a lack of focus and coordination from the federal government. Inefficiencies in the U.S. travel system threaten the economy. One example: The U.S. risks losing 39 million visitors and $150 billion in spending over the next 10 years due to excessive visitor visa wait times (Tourism Economics). U.S. Travel launch...
Resilience Renewed: The Transformation of Portland’s Hotel Market
Eileen Bosworth | January 10, 2024
By Eileen Bosworth In 2023, Portland's hotel demand faced setbacks from public safety concerns and absorption of new hotel supply. However, initiatives like the Hotel Security District and a government task force addressing homelessness signaled change. The opening of the Ritz-Carlton Hotel & Residences and several upcoming events contribute to a cautiously optimistic 2024 outlook. Although Portland hoteliers’ hopes for 2023 were high due to a more robust convention calendar at the Oregon Convention Center (OCC) and a positive outlook for leisure demand in the summer, the year was challenging for the metro area. The difficulties...
San Diego Seizes Top Spot for Year-Over-Year Growth in Group Business for December
KNOWLAND | January 10, 2024
Pharmaceutical and Charity/Non-Profit industries lead in four out of the five top markets ARLINGTON, Va. — Jan. 10, 2024 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released the top market performance numbers for December, citing San Diego as having the highest meeting volume improvement with 29.2 percent year-over-year (YoY) growth. Coming in a close second was San Francisco, where event volume increased 21.5 percent, a positive sign the industry is bouncing back in the cities by the bay. This data is sourced from Knowland’s sales intelligence platform and desig...
U.S. Hotel Results for Week Ending 30 December
CoStar Group | January 8, 2024
WASHINGTON – 8 January 2024 – U.S. hotel performance increased from the previous week, while year-over-year comparisons were skewed downward due to a calendar shift, according to CoStar’s latest data through 30 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 24-30 December 2023 (percentage change from comparable week in 2022): Occupancy: 50.1% (-7.1%) Average daily rate (ADR): US$163.58 (-2.8%) Revenue per available room (RevPAR): US$82.01 (-9.7%) Year-over-year comparisons were negative as the comparable week from 2022 (25 Dece...
Boston Hotel Market Update: Ten Things to Know
Erich Baum | January 8, 2024
By Erich Baum, Brian Bisema, Raymond Parejo, Nico Cooper Boston is back. The three key demand channels have returned to an approximation of their pre-pandemic levels (conventions and business travel up, leisure down), and the city’s RevPAR has improved to third in the nation, supplanting Miami and various West Coast rivals. Here are ten things to know about the city. 1. Boston’s revenue per available room (RevPAR) is on pace to finish 2023 at approximately 110% of its 2019 level. Occupancy is lagging slightly, at 97% of the pre-pandemic peak, but average rate is picking up the slack. 2. Conventions came roaring back in 2023. The ...
The Hospitality Industry’s Key Historical Metrics
CoStar Group | January 4, 2024
Performance benchmarking is paramount in the hospitality industry, and whether measuring success against yourself, the competition or a specific segment of the market, the process involves foundational historical metrics. This article is part of a series on hotel benchmarking data sets. Reach the other editions here: The role of profitability data in a comprehensive hotel benchmarking experience | Using business on the books in a complete benchmarking approach Who uses hotel historical data? How does it support strategies? Benchmarking is the foundation of any decision making. If you don’t know where you have been, you don’t kno...
U.S. Hotel Results for Week Ending 23 December
CoStar Group | January 2, 2024
WASHINGTON – 2 January 2024 – As anticipated ahead of the holidays, U.S. hotel performance fell from the previous week, according to CoStar’s latest data through 23 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 17-23 December 2023 (percentage change from comparable week in 2022): Occupancy: 43.9% (+0.5%) Average daily rate (ADR): US$131.97 (-0.9%) Revenue per available room (RevPAR): US$57.90 (-0.4%) Among the Top 25 Markets, Boston saw the largest year-over-year increases in occupancy (+21.5% to 46.2%) and RevPAR (+23.1% to US$65.68)....
STR Weekly Insights: 10-16 December 2023
CoStar Group | December 22, 2023
Note: Due to the Christmas and New Year’s holidays, the next edition of Weekly Insights will run on 12 January 2024 Analysis by Isaac Collazo, Chris Klauda, Will Anns Countries included: China, Germany, Japan, United Kingdom, and the United States Highlights The Top 25 Markets propelled U.S. RevPAR growth to a three-week high. Group demand gained. Soccer ruled in the U.K. and Germany with all but one of the five markets hosting UEFA Champions league matches posting double-digit occupancy increases. College Bowl games and New Year’s Eve will provide a boost to the industry as the year winds to a close. New ...
U.S. Hotel Results for Week Ending 16 December
CoStar Group | December 22, 2023
WASHINGTON – 22 December 2023 –U.S. hotel performance was expectedly lower from the previous week, but year-over-year comparisons were positive, according to CoStar’s latest data through 16 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 10-16 December 2023 (percentage change from comparable week in 2022): Occupancy: 54.7% (+1.1%) Average daily rate (ADR): US$142.62 (+4.7%) Revenue per available room (RevPAR): US$77.99 (+5.8%) Among the Top 25 Markets, San Francisco saw the largest year-over-year increases in each of the three key perfo...
Canada Hotel Performance Followed Seasonal Trends in November
CoStar Group | December 21, 2023
WASHINGTON – 21 December 2023 – As expected, Canada’s hotel performance fell month over month, but continued a stretch of year-over-year growth, according to CoStar’s November 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. November 2023 (percentage change from November 2022): Occupancy: 62.1% (+0.5%) Average daily rate (ADR): CAD179.18 (+5.8%) Revenue per available room (RevPAR): CAD111.19 (+6.4%) “Canada hotel performance returned to single-digit growth in November,” said Laura Baxter, CoStar Group’s director of hospitality ana...
U.S. Hotel Performance for November 2023
CoStar Group | December 20, 2023
WASHINGTON – 20 December 2023 – As expected, the U.S. hotel industry reported lower performance results from the previous month but improved year-over-year comparisons, according to November 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. November 2023 (percentage change from November 2022): Occupancy: 58.4% (-1.2%) Average daily rate (ADR): US$151.23 (+3.6%) Revenue per available room (RevPAR): US$88.36 (+2.4%) Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0%), which was up 6.3% year over year...
1
Industry Happenings
2
Technology
3
Operations
4
All Things Independent
5
Appointments/People on the Move
Today's News
Cheval Collection Selects IDeaS G3 RMS at Eight Additional Luxury Serviced Apartment Properties
Hospitality Students Creatively Solving Problems With Lego Learning Initiative
Are You Leaving Money on the Table? Turning Casino Resorts Into Go-To Venues for Profitable Groups and Events
AAHOA’s Hoteliers Push Forward Impactful National Advocacy Agenda in Washington, D.C.
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.