STR: Expo Lifted Dubai Hotel Rates to Three-Year High in October

STR | November 15, 2021

LONDON — November 15, 2021 — Lifted by the opening of Expo 2020, Dubai’s hotel industry reported its highest monthly room rates since 2018, according to preliminary October 2021 data from STR. Occupancy: 81.6% Average daily rate (ADR): AED776.62 Revenue per available room (RevPAR): AED633.66 The market’s absolute ADR and RevPAR levels were the highest for any month since January 2018 and February 2018, respectively, while the occupancy level was the highest since January 2020. All of STR’s COVID-19 analysis can be found here....

STR: U.S. Hotel Results for Week Ending 6 November

STR | November 11, 2021

HENDERSONVILLE, Tennessee — November 11, 2021 — U.S. hotel performance increased slightly from the previous week, according to STR‘s latest data through 6 November. 31 October through 6 November 2021 (percentage change from comparable week in 2019*): Occupancy: 59.8% (-13.0%) Average daily rate (ADR): US$128.14 (-3.2%) Revenue per available room (RevPAR): US$76.61 (-15.8%) While none of the Top 25 Markets recorded an occupancy increase over 2019, Norfolk/Virginia Beach came closest to its 2019 comparable (-5.2% to 59.9%). Oahu Island experienced the steepest occupancy decline from 2019 (-45...

At the Close of Q3‘21, Latin America’s Hotel Construction Pipeline Project Counts Are Down 14% YOY

Lodging Econometrics | November 9, 2021

PORTSMOUTH, NH – November 9, 2021 – In the Q3‘21 Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report the total construction pipeline stands at 577 projects/103,648 rooms. The region’s pipeline project counts are down 14% and room counts are down 11%, year-over-year (YOY). Projects under construction at the end of Q3‘21 stand at 304 projects/60,048 rooms, down 12% by projects and 2% by rooms YOY. Projects scheduled to start construction in the next 12 months stand at 155 projects/24,959 rooms, down 17% and 28% respectively, and those in the early planning stage are down 16% by projects ...

STR: U.S. Hotel Results for Week Ending 30 October

STR | November 4, 2021

HENDERSONVILLE, Tennessee — November 4, 2021 — As anticipated ahead of Halloween, U.S. hotel performance fell week over week, according to STR‘s latest data through 30 October. 24-30 October 2021 (percentage change from comparable week in 2019*): Occupancy: 58.9% (-5.7%) Average daily rate (ADR): US$127.70 (+1.5%) Revenue per available room (RevPAR): US$75.28 (-4.3%) Even with a drop in performance levels from previous weeks, comparisons with the matching week in 2019 improved because Halloween that year fell on a Thursday and created a more significant disruption in business travel and groups. ...

STR: Chile Hotel Occupancy Nearing Pre-Pandemic Levels

STR | November 1, 2021

BOGOTA — November 1, 2021 — Chile’s hotel occupancy reached 90% of the 2019 comparable, according to September 2021 data from STR. The country’s 47.6% occupancy level in September was 10% lower than September 2019 (52.8%) after August (47.8%) came in 22.3% below the 2019 comparable. “Chile has been different than many countries in that it is recovering occupancy quicker than average daily rate,” said Patricia Boo, STR’s area director, Central & South America. ADR for September came in at CLP 60,473.55, which was the highest level in the country since March 2020 but just 83% of the pre-pandemic comparison. &nbs...

STR: U.S. Hotel Results for Week Ending 23 October

STR | October 28, 2021

HENDERSONVILLE, Tennessee—U.S. hotel occupancy dipped a percentage point week over week, while room rates rose slightly, according to STR‘s latest data through 23 October. 17-23 October 2021 (percentage change from comparable week in 2019*): Occupancy: 63.9% (-9.1%) Average daily rate (ADR): US$134.14 (-0.6%) Revenue per available room (RevPAR): US$85.74 (-9.6%) While none of the Top 25 Markets recorded an occupancy increase over 2019, Tampa came closest to its 2019 comparable (-3.1% to 68.5%). The market also reported the largest increases in ADR (+16.1% to US$138.33) and RevPAR (+12.6% to US$94.71) when compared...

At the End of Q3 2021, Dallas Tops the U.S. Hotel Construction Pipeline

Lodging Econometrics | October 28, 2021

PORTSMOUTH, NH – October 27th, 2021 – In the third quarter of 2021, analysts at Lodging Econometrics (LE) report that the top five markets with the largest total hotel construction pipelines by projects are: Dallas with 147 projects/17,711 rooms, Atlanta with 139 projects/18,659 rooms, Los Angeles with 133 projects/22,145 rooms, New York City with 130 projects/22,417 rooms, and Houston, with 90 projects/9,225 rooms. These top five markets account for 13% of the projects and 15% of rooms in the total U.S. pipeline. The top 25 U.S. markets account for 33% of all pipeline projects and 37% of all rooms in the U.S. hotel construction pipeli...

STR: Canada Hotel Performance Declined in September

STR | October 26, 2021

HENDERSONVILLE, Tennessee — October 26, 2021 — Canada’s hotel industry reported lower performance levels from the month prior, according to STR’s September 2021 data. The country’s performance levels also remained well below pre-pandemic comparisons from September 2019: Occupancy: 58.2% (-20.9%) Average daily rate (ADR): CAD152.87 (-14.8%) Revenue per available room (RevPAR): CAD89.00 (-32.6%) “The typical seasonal pattern and a rise in COVID cases put pressure on demand,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “Hote...