Paris Hotels Reached 2019 Profitability Level in March

STR | May 4, 2022

LONDON—Among key hotel markets in Europe, Paris was the only one to achieve gross operating profit per available room (GOPPAR) that was 100% of the 2019 comparable, according to STR’s March 2022 P&L data release. After two consecutive months with negative levels, due largely to the impacts of the omicron variant, Paris posted a March GOPPAR of US$117.26. Also reporting significant month-over-month improvement, London posted a March GOPPAR of US$90.82. That level was 87% of the pre-pandemic comparable after the market had reached just 38% using the same comparison in February. Amsterdam’s GOPPAR was 68% of the 2019...

Hotel Transactions Up on 2020 Levels With Single Asset Deals Reaching Record Average Room Rates, Reveals HVS Report

HVS | May 3, 2022

Strong recovery for European hotel transactions with deals worth €16.4bn Year sees record average sale price per hotel room for single assets at €260,000 London tops hotel transaction top 5 with Barcelona, Stockholm, Berlin and Madrid 03 May 2022, London: Last year was one of strong recovery for European hotel transactions with €16.4bn-worth of deals, twice that of 2020, according to the latest European Hotel Transactions report from global hotel consultancy HVS and its brokerage and investment services division HVS Hodges Ward Elliott. The report reveals that 322 European hotel transactions took place during 2021 ...

U.S. Hotel Profitability Reached 28-Month High in March

STR | May 2, 2022

HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) reached its highest level since November 2019, according to STR‘s March 2022 P&L data release. The GOPPAR level was less than $10 shy of reaching the pre-pandemic comparable from March 2019. GOPPAR: US$83.81 TRevPAR: US$204.84 EBITDA PAR: US$62.68 LPAR (Labor Costs): US$61.45 EBITDA PAR was the industry’s highest since November 2019, while TrevPAR and LPAR were the highest since March 2020. “Aligned with jumps in top-line performance that have continued into April, each of the bottom-line metrics showed dras...

HVS Market Pulse: Philadelphia, Pennsylvania, Lodging Market

HVS | May 2, 2022

The COVID-19 pandemic has had a severe impact on the Philadelphia lodging market. While the area regained a substantial amount of tourism in 2021, Philadelphia’s lodging market has remained depressed for nearly two years given the limited amount of commercial and group demand. Demand was healthy in the years prior to the pandemic, with Philadelphia hotels registering occupancy levels in the high 60s to low 70s from 2011 through 2019. Occupied room nights were generated by a mixture of tourists visiting sites and museums or attending sporting events, group and international travelers attending events at the Pennsylvania Convention Center...

February 2022 Total International Travel Volume To and From the United States

National Travel and Tourism Office | May 2, 2022

Data recently released by the National Travel and Tourism Office (NTTO) show that in February 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 2,269,089 increased 223.5% from February 2021 but was 44.6% of total visitor volume in February 2019. Overseas visitor volume to the United States of 1,047,469 increased 339.1% from February 2021. February 2022 was the eleventh consecutive month that total non-U.S. resident international arrivals to the United States increased on a year-over-year basis. The largest numbers of international visitors were fr...

At Q1’22, the Province of Ontario Leads Canada’s Hotel Construction Pipeline

Lodging Econometrics | April 29, 2022

April 29, 2022 – PORTSMOUTH, NH As reported in the Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, at Q1 2022, the country’s hotel construction pipeline currently stands at 258 projects/35,768 rooms. Construction pipeline projects remain unchanged year-over-year (YOY), while rooms are up by 1%. At the close of the first quarter, projects under construction in Canada stand at 62 projects/8,114 rooms. Projects scheduled to start construction in the next 12 months stand at 91 projects/12,473 rooms, a 23% increase by projects and 50% by rooms YOY, and projects in the early planning stage stand at 105 projects/15...

First-Quarter 2022 Hotel Performance Ends on High Note

HotStats | April 28, 2022

Beware the ides of March. But for the global hotel industry, the month was anything but a tragedy. First-quarter hotel performance ended strong with March profit surging across most global regions, a sign of stronger revenues, better conversion rates and new worries over a COVID upsurge not discouraging would-be travelers. European GOPPAR hit €35.97, the highest the number has reached since it peaked in October 2021, though still around €12 lower than March 2019. After GOPPAR dropped into negative territory in January, it’s now up 229% YTD compared to the same time in 2021. Feeding into the increase in GOPPAR was a concurrent l...

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

STR | April 28, 2022

HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 23 April. 17-23 April 2022 (percentage change from comparable week in 2019*): Occupancy: 65.8% (-4.2%) Average daily rate (ADR): US$148.35 (+15.4%) Revenue per available room (RevPAR): US$97.66 (+10.5%) Among the Top 25 Markets, Tampa saw the highest occupancy (+3.4% to 78.1%) and ADR (+38.5% to US$203.40) increases over 2019. Minneapolis experienced the largest occupancy decrease from 2019 (-21.1% to 53.8%). The steepest RevPAR deficits were in San Francisco/San Mateo (-24.8% to US$131...