STR: U.S. Hotel Results for Week Ending 20 February
STR | February 25, 2021
HENDERSONVILLE, Tennessee — 25 February 2021 — U.S. weekly hotel occupancy reached its highest level since late October, according to STR‘s latest data through 20 February. 14-20 February 2021 (percentage change from comparable week in 2020): Occupancy: 48.1% (-23.8%) Average daily rate (ADR): US$101.57 (-22.1%) Revenue per available room (RevPAR): US$48.82 (-40.6%) Popular leisure markets in Florida, with leftover demand from the long holiday weekend, posted the week’s highest levels. Among STR-defined markets, the Florida Keys reached 93.5% occupancy, followed by Fort Lauderdale (80.1%). Miami saw the highest ...
At Year-End 2020, Europe’s Hotel Construction Pipeline Stands at 1,905 Projects/307,093 Rooms
Lodging Econometrics | February 25, 2021
PORTSMOUTH, NH – February 25, 2021 – According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the close of 2020, Europe’s hotel construction pipeline increased 2% by projects and 3% by rooms year-over-year (YOY) to end the fourth quarter with 1,905 projects and 307,093 rooms, a record high project and room count for the region. Europe’s construction pipeline has remained robust as hotel developers have purposely delayed their opening dates to await improved operating conditions. Rooms under construction are at an all-time high of 967 projects/157,833 rooms...
STR: Canada Hotel Performance for January 2021
STR | February 23, 2021
HENDERSONVILLE, Tennessee — 23 February 2021 — Canada’s hotel industry reported continued lows across the three key performance metrics, according to STR’s January 2021 data. The country’s occupancy level was up slightly from December but was its second-lowest since May 2020. As a result, RevPAR came in lower than any month in Canada since May. Year-over-year declines also remained significant. Occupancy: 22.3% (-55.2%) Average daily rate (ADR): CAD107.21 (-27.4%) Revenue per available room (RevPAR): CAD23.96 (-67.5%) “International travel has been severely depressed since the beginning of the pandemic, and the ne...
Anchorage Lodging Market: Winter 2021 Update
Kasia M. Russell | February 23, 2021
By Kasia Russell and Breanna Smith Amid a worldwide pandemic, the Anchorage lodging industry continues to experience a downturn that is greater than the past two lodging-market declines combined. The major factors that have affected this market since the onset of the pandemic in March 2020 are highlighted below. Key Factors in 2020 Unlike many other U.S. markets, Anchorage did not initially experience the severity of the pandemic given that oil and gas operations, Alaska’s largest economic driver, remained essential; thus, no major layoffs or furloughs were instituted, and workers continued to travel to/from drilling locations. F...
VICI Properties Inc. Announces Fourth Quarter and Full Year 2020 Results
VICI Properties | February 19, 2021
NEW YORK--February 19, 2021--VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter and year ended December 31, 2020. All per share amounts included herein are on a per diluted share basis unless otherwise stated. Fourth Quarter 2020 Financial and Operating Highlights Total revenues increased 57.0% year-over-year to $373.0 million Net income attributable to common stockholders was $288.0 million, or $0.53 per share AFFO increased 42.5% year-over-year to $251.7 million AFFO per share increased 24.3% to $0.46 Complet...
HVS Market Pulse: Green Bay, the Home of the Packers
Amy Schmidt | February 19, 2021
By Amy Schmidt Green Bay, the third-largest city in Wisconsin behind Milwaukee and Madison, is best known for being home to the NFL’s Green Bay Packers and their home stadium, Lambeau Field, and the market’s hotel industry has reaped the benefit of the growth generated from the surrounding Titletown District. However, in 2020, the COVID-19 pandemic caused a significant decline in lodging demand given the restrictions set on sporting events and the limits on gatherings. While the Packers averaged a total attendance of 77,845 per game in the 2019 regular season,[1] fans were prohibited from attending home games during the 2020 seas...
Host Hotels & Resorts, Inc. Reports Results for 2020
Host Hotels & Resorts | February 19, 2021
BETHESDA, Md., Feb. 19, 2021 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the fourth quarter and full year 2020. James F. Risoleo, President and Chief Executive Officer, said, “We continued to grow sequential revenues while minimizing operating expenses in the fourth quarter and further reduced our net loss and hotel-level operating losses from third-quarter levels. With accelerating vaccine deployment, decreasing weekly COVID-19 case counts and the easing of lockdowns, we are encouraged by recent booking activitie...
Hyatt Reports Fourth Quarter 2020 Results
Hyatt Hotels Corporation | February 19, 2021
CHICAGO - February 19, 2021 - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported fourth quarter 2020 financial results. Net loss attributable to Hyatt was $203 million, or $2.00 per diluted share, in the fourth quarter of 2020, compared to net income attributable to Hyatt of $321 million, or $3.08 per diluted share, in the fourth quarter of 2019. Adjusted net loss attributable to Hyatt was $179 million, or $1.77 per diluted share, in the fourth quarter of 2020, compared to Adjusted net income attributable to Hyatt of $49 million, or $0.47 per diluted share, in the fourth quarter of 2019. Refer to the table on page 1...
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