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...
Appointments/People on the Move
All Things Independent
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.