U.S. Meetings and Events Eclipse 80 Percent Recovery for Fifth Month in a Row, Knowland Reports

Knowland | November 9, 2022

Knowland will be participating in a webinar hosted by Amadeus Hospitality on the Future of Meetings and Events on November 16 at 1PM ET. Hoteliers can go here to register for the webinar. October 2022 reaches 89.7 percent of 2019 event volume ARLINGTON, Va. — Nov. 9, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its U.S. monthly meetings and events data for October, reporting 131.7 percent growth over October 2021. Additionally, October 2022 grew by 21.2 percent over September 2022. Kristi White, chief product officer, Knowland, said: “Octobe...

Canadian Lodging Outlook Quarterly 2022-Q3

HVS | November 8, 2022

HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further Information, please contact: [email protected] or +1 (615) 824-8664 ext. 3504. HVS Canada performs major portfolio appraisals and single-asset consulting assignments and valuations from coast to coast. Our professional team is expert ...

International Visitors Spent $14.7 Billion in September 2022

International Trade Administration | November 7, 2022

Data recently released by the National Travel and Tourism Office (NTTO) show that in September 2022: International visitors spent nearly $14.7 billion on travel to, and tourism-related activities within, the United States, an increase of more than 110 percent compared to September 2021. Americans spent $15.5 billion traveling abroad, yielding a balance of trade deficit of $802 million for the month—the third monthly balance of trade deficit for U.S. travel and tourism year to date in 2022. Year to date (January through September 2022), international visitors have spent more than $112.1 billion on U.S. travel and tourism-related...

Global Real Estate Perspective November 2022: Lodging Fundamentals Strengthen

JLL | November 3, 2022

The lodging industry’s recovery continued to accelerate in the first nine months of 2022, despite increasing global economic uncertainty and deep labor shortages across travel and tourism companies. Year-over-year, hotel occupancy and average daily rate (ADR) across all regions showed growth supported by strong domestic and emerging international travel demand. Urban markets are experiencing greater momentum in their recovery as more employees return to the office, and leisure travelers are once again drawn to restaurants and live entertainment venues. Across the Americas, Miami, San Juan, New York, Los Angeles and Boston achieved the hi...

STR: U.S. Hotel Results for Week Ending 29 October

STR | November 3, 2022

HENDERSONVILLE, Tennessee—U.S. hotel performance came in lower than the previous week but showed improved comparisons to 2019, according to STR‘s latest data through 29 October. 23-29 October 2022 (percentage change from comparable week in 2019*): Occupancy: 65.8% (+5.2%) Average daily rate (ADR): US$152.94 (+21.4%) Revenue per available room (RevPAR): US$100.59 (+27.8%) The occupancy increase from 2019 reflected the positive side of the Halloween calendar shift, as the holiday fell during the comparable week in 2019. The next week of data to be processed (30 October-5 November) will show the negative side of that shift....

ITA Data Release: August 2022 Total International Travel Volume

International Trade Administration | November 3, 2022

Data recently released by the National Travel and Tourism Office (NTTO) show that in August 2022: International Arrivals to the United States Total non-U.S. resident international visitor volume to the United States of 5,697,087 increased 158.6% compared to August 2021 and rose to 70.2% of the pre-COVID total visitor volume reported for August 2019, up from the prior month’s 67.6%. Overseas visitor volume to the United States of 2,625,678 increased 172.6% from August 2021. August 2022 was the seventeenth consecutive month that total non-U.S. resident international arrivals to the United States increased on a year-over-year (Y...

New Delhi Hotels Lead Profitability Recovery in Asia Pacific

STR | November 2, 2022

LONDON—Four key Asia Pacific hotel markets, led by New Delhi, surpassed their pre-pandemic levels in gross operating profit per available room (GOPPAR), according to STR’s September 2022 P&L data release. New Delhi’s September GOPPAR came in at US$54.58, which was 124% of the comparable 2019 level. In August, the market reported a GOPPAR level of US$45.55, which was 176% of the pre-pandemic comparable. Singapore (107%), Kuala Lumpur (104%) and Sydney (104%) were the other key markets in the region that achieved a GOPPAR level higher than the 2019 comparable. Of note, Tokyo registered the largest month-over-mont...

U.S. Hotel Profitability Improved in September; Labor Costs Exceed 2019

STR | November 1, 2022

HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) improved from the month prior and exceeded the pre-pandemic comparable, according to STR’s September 2022 P&L data release. Additionally, the cost of labor per available room came in higher than the pre-pandemic comparable for the first time. GOPPAR: US$84.03 TRevPAR: US$222.97 EBITDA PAR: US$60.71 LPAR (Labor Costs): US$71.52 “Labor costs moved ahead the 2019 comparable due to continued high levels of hospitality unemployment and more spending on contract labor,” said Raquel Ortiz, STR’s director of financial ...