COVID-19’s Impact on the Raleigh Hotel Market
Janet Snyder | July 26, 2021
By Janet Snyder Prior to the onset of the COVID-19 pandemic, Raleigh was growing rapidly given its high quality of life and status as the state capital of North Carolina. The city has attracted large national and multinational corporations, such as Duke Energy, Citrix, Red Hat, Amazon, IBM, Accenture, and PNC. Downtown Raleigh experienced tremendous growth in recent years, with approximately $1.3 billion in developments from 2015 to 2020. The area has also historically been known for its major academic and healthcare institutions, including Duke University, the University of North Carolina at Chapel Hill, North Carolina State Uni...
Los Angeles – the Second-Largest Hotel Construction Pipeline Market in the United States
Lodging Econometrics | July 26, 2021
PORTSMOUTH, NH – July 26, 2021 – In the most recent Lodging Econometrics (LE) Market Trend Report, the Los Angeles market has a total of 135 projects/22,586 rooms in the construction pipeline, the second-largest market pipeline in the U.S. behind New York City, which has 146 rooms/25,232 rooms. In Los Angeles, 34 projects/5,771 rooms are currently under construction, projects scheduled to start construction in the next 12 months are at 42 projects/6,359 rooms, and those in early planning are at 59 projects/10,456 rooms. Los Angeles should continue its fast-paced growth. For the first half of the year, it ranked fifth of all markets for...
STR: U.S. Hotel Results for Week Ending 17 July
STR | July 23, 2021
HENDERSONVILLE, Tennessee — July 23, 2021 — U.S. weekly hotel occupancy reached its highest level since October 2019, according to STR‘s latest data through 17 July. 11-17 July 2021 (percentage change from comparable week in 2019*): Occupancy: 71.0% (-8.7%) Average daily rate (ADR): US$139.19 (+1.8%) Revenue per available room (RevPAR): US$98.87 (-7.1%) Despite a four-point, week-over-week improvement in occupancy, ADR dipped slightly from the all-time high achieved the previous week. Among the Top 25 Markets, New Orleans saw the highest occupancy increase over 2019 (+5.8% to 59.5%). San ...
STR: Canada Hotel Performance for June 2021
STR | July 23, 2021
HENDERSONVILLE, Tennessee — July 23, 2021 — Canada’s hotel industry reported its highest monthly performance levels since September 2020, according to STR’s June 2021 data. Even with improvement from previous months, the country’s performance levels remained well below the pre-pandemic comparable of June 2019: Occupancy: 36.5% (-50.5%) Average daily rate (ADR): CAD125.05 (-31.2%) Revenue per available room (RevPAR): CAD45.67 (-66.0%) “Now that vaccination efforts are well underway and paying off with declining case counts, restrictions are easing and the Canadian tourism economy is reopening,” said Lau...
Hotel Spas Get Expense Facelift
HotStats | July 21, 2021
The pandemic has made it difficult for anyone to relax. Beyond being a drag on a hotel’s core business—room sales—it’s also been an assault on ancillary revenues, such as spa business. Hotels with spas needed to shift carefully during the pandemic, finding corners to cut without taking too much away from the promise of a serene customer experience. What they found, according to data, is that cutbacks in staff and some amenities were blessings in disguise, producing efficiencies and greater personalization of the guest experience. Clever Cost-Cutting Reduced services and social-distancing regulations allowed for vast sav...
STR: U.S. Hotel Performance for June 2021
STR | July 21, 2021
HENDERSONVILLE, Tennessee — July 21, 2021 — The U.S. hotel industry recorded its highest monthly occupancy and revenue per available room (RevPAR) since October 2019, according to June 2021 data from STR. June 2021: Occupancy: 66.1% Average daily rate (ADR): US$129.00 Revenue per available room (RevPAR): US$85.31 In addition to higher occupancy and RevPAR levels, ADR was the highest for any month since February 2020. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained below the pre-pandemic ...
Europe Remains Only World Region With Increased Hotel Construction
STR | July 19, 2021
LONDON — July 19, 2021 — At the end of Q2 2021, Europe remained the only world region with a year-over-year increase in hotel rooms in construction, according to June pipeline data from STR. June 2021 (% changes in comparison with June 2020) Europe In Construction: 237,304 rooms (+7.9%) Final Planning: 177,165 rooms (+13.0%) Planning: 147,712 rooms (-6.4%) Germany (49,027) and the U.K. (36,444) lead Europe in total rooms in construction. Asia Pacific In Construction: 476,740 rooms (-2.8%) Final Planning: 181,453 rooms (+8.8%) Planning: 271,268 rooms (+13.6%) Among countries in the regio...
STR: U.S. Hotel Results for Week Ending 10 July
STR | July 15, 2021
HENDERSONVILLE, Tennessee — July 15, 2021 — U.S. hotel occupancy improved week over week, while average daily rate (ADR) was the highest on record, according to STR‘s latest data through 10 July. 4-10 July 2021 (percentage change from comparable week in 2019*): Occupancy: 67.2% (-9.3%) Average daily rate (ADR): US$139.84 (+5.4%) Revenue per available room (RevPAR): US$93.99 (-4.4%) Inflation aside, STR analysts note that hoteliers are taking advantage of pent-up leisure demand and higher spending travelers while trying to counter staffing shortages and rising operational costs in some regions. Additionally, wi...
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COVID-19’s Impact on the Raleigh Hotel Market
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