U.S. Construction Pipeline Experiences Highs and Lows in the Third Quarter

Lodging Econometrics | October 25, 2021

PORTSMOUTH, NH – October 25, 2021 – Analysts at Lodging Econometrics (LE) report that in the third quarter of 2021 the total U.S. construction pipeline stands at 4,837 projects/592,259 rooms, down 8% by projects and 10% by rooms year-over-year (YOY). While project numbers have seen a slight increase over second quarter totals, overall, the construction pipeline remains largely muted due to a reduced inflow of new projects in the pipeline as compared to “pre-COVID levels,” and significant hotel openings during the first half of the year which exited the pipeline. The prolonged effects of the pandemic, above average inflation, rising in...

STR: U.S. Hotel Results for Week Ending 16 October

STR | October 21, 2021

HENDERSONVILLE, Tennessee — October 21, 2021 — U.S. hotel occupancy reached its highest level since mid-August, while room rates dipped from the previous week, according to STR‘s latest data through 16 October. 10-16 October 2021 (percentage change from comparable week in 2019*): Occupancy: 65.0% (-10.0%) Average daily rate (ADR): US$134.03 (-1.4%) Revenue per available room (RevPAR): US$87.15 (-11.3%) Week-over-week demand growth came almost exclusively from the Sunday ahead of Columbus Day. Overall for the 3-day holiday weekend (8-10 October), occupancy reached 72% as compared with 75% in 2019. ...

STR: U.S. Hotel Performance for September 2021

STR | October 19, 2021

HENDERSONVILLE, Tennessee — October 19, 2021 — The U.S. hotel industry reported lower performance from the month prior, according to September 2021 data from STR. September 2021 (percentage change from September 2019): Occupancy: 61.6% (-8.2%) Average daily rate (ADR): US$133.11 (+1.0%) Revenue per available room (RevPAR): US$82.04 (-7.3%) Among the Top 25 Markets, Denver experienced the highest occupancy level (71.4%), which was still down 12.0% from the market’s 2019 benchmark. None of the Top 25 Markets saw an occupancy increase over 2019. Markets with the lowest occupancy for the month in...

Brazil Hotels Recovering ADR Much Faster Than Occupancy

STR | October 18, 2021

After a difficult winter, Brazil’s hotel occupancy is once again on the rise, reaching 44% in August 2021, or about 74% of the 2019 comparable. While occupancy recovery has been slow, the country’s rebound in average daily rate (ADR) has been strong, with monthly rates even exceeding 2019 levels earlier this year. August ADR reached BRL295.05, which was just 3.4% below 2019, as shifts in demand and supply have helped drive impressive ADR performance. Domestic demand With international travel difficult at best, impossible at worst, Brazil’s hoteliers have relied almost entirely on domestic demand. This has led to strong p...

STR: U.S. Hotel Results for Week Ending 9 October

STR | October 14, 2021

HENDERSONVILLE, Tennessee — October 14, 2021 — Lifted by the long Columbus Day weekend, U.S. hotel performance rose to a level similar to late-summer, according to STR‘s latest data through 9 October. 3-9 October 2021 (percentage change from comparable week in 2019*): Occupancy: 63.9% (-9.6%) Average daily rate (ADR): US$134.63 (+2.4%) Revenue per available room (RevPAR): US$86.02 (-7.4%) The occupancy level was the highest since the week ending 14 August, while ADR came in higher than every week since the one ending 21 August. While none of the Top 25 Markets recorded an occupancy increase ov...

London’s Outlook: An Analysis by Hotel Class

STR | October 11, 2021

When booking a hotel room, guests are considering more factors than ever in deciding which property to call home in their destination. One of the many considerations is price, and by extension hotel class, which leads us to this latest analysis of occupancy on the books in London. Examining future occupancy levels by class allows for a better understanding of the traveler booking rationale for the upcoming months. Merry Christmas and not such a Happy New Year The short-term outlook for London is positive as summer ends and the industry transitions into the typically slower autumn and winter months. Leading bookings in the short-term are...

A Brighter Future for Colombia?

STR | October 11, 2021

Colombia’s accelerated vaccination rollout and lessened restrictions on eligibility pushed the country’s vaccination rate to 32.1% as of 22 September, according to Our World in Data. Is that growing vaccination rate helping improve hotel performance in this key South American country? The answer would seem to be, yes, but to a lesser extent for some areas of the country. As noted in one of our first articles regarding the early stages of Colombia’s recovery, the country’s hotel performance has been closely tied to the pandemic timeline. Most recently in August, Colombia’s hotel occupancy reached 48.8%, which was 76.9% of the 20...

Rising Costs, Staffing Shortages and Multi-Speed Recovery Play Havoc With the UK Hotel Sector

HVS | October 7, 2021

06 September 2021, London: Resetting the hotel balance sheet to be fit for recovery was the theme of the latest conference organised by global hotel consultancy HVS, legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners. Addressing both in-person and online delegates yesterday [5th October 2021) Graeme Smith, EMEA head of hospitality & leisure at AlixPartners considered the support received by hotels from lenders, resulting in limited restructuring activity, despite disruption that the pandemic caused. “There are now a number of different lenders, the landscape ...