STR: U.S. Hotel Results for Week Ending 21 May

STR | May 26, 2022

HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 21 May. 15-21 May 2022 (percentage change from comparable week in 2019*): Occupancy: 68.6% (-3.5%) Average daily rate (ADR): US$151.75 (+13.4%) Revenue per available room (RevPAR): US$104.06 (+9.5%) The weekly RevPAR level was the highest in the U.S. since mid-July 2019. Among the Top 25 Markets, Miami saw the highest occupancy increase over 2019 (+4.7% to 77.5%). Of note, New York City saw the highest occupancy level for the week (89.4%), which was helped by both the New York University a...

LAC Profit Pops in Q1 Amid Enduring COVID-19, Inflation Worry

HotStats | May 24, 2022

If it’s not one thing, it’s another—or two or three. The Latin America and Caribbean region is not alone in the hardship exacted by COVID-19 and now added detriments, including high inflation, rising interest rates and labor costs, but the region’s hotels are showing resilience. Like the rest of the world, COVID is not through with the LAC region. As of May 2022, LAC had nearly 1.7 million deaths, which amounts to more than 27% of deaths worldwide, according to the Pan American Health Organization (PAHO). Peru had the highest recorded COVID-19 mortality rate in the region, followed by Brazil, Chile, Argentina, Colombia and Trinidad...

STR: Canada Hotel Performance Up Again in April

STR | May 24, 2022

HENDERSONVILLE, Tennessee—Canada’s monthly hotel performance improved once again from the previous month and showed better indexed comparisons, according to STR’s April 2022 data. April 2022 (percentage change from April 2019) Occupancy: 57.6% (-7.3%) Average daily rate (ADR): CAD155.80 (+2.5%) Revenue per available room (RevPAR): CAD89.72 (-5.0%) “Canada experienced its sixth wave of COVID cases in April, but the lack of restrictions allowed hotel performance recovery to remain strong and steady,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company o...

Strength in Average Daily Rate Now Expected to Drive 2022 RevPAR Above 2019 Levels

PwC Hospitality Directions | May 23, 2022

Despite an initial pullback in the recovery timeline caused by a surge in infections from a new omicron variant of the COVID-19 virus in December and January, continued improvement in top-line metrics for US hotels is expected for the remainder of this year and next. While leisure travel continued to drive much of lodging’s demand in Q1, individual business travel and group business have started to emerge as we head into the warmer months. Strong leisure business is expected to cause demand compression over the summer, driving room rates and resultant RevPAR levels to new highs. If tensions ease in Ukraine and immunity levels continue to in...

Recent U.S. Occupancy Leaders Appeal to Both Business and Leisure Travel

STR | May 23, 2022

For the four-week period ending 14 May 2022, more than three-quarters of all U.S. hotel markets outperformed their comparable 2019 revenue per available room (RevPAR) on a nominal basis. Of 165 STR-defined U.S. markets, only 38 fell short of their 2019 RevPAR, which was a solid improvement from 52 underperformers in April’s “bubble” blog update. Industry RevPAR looks to be on steady footing; however, a look at RevPAR contribution shows a greater influence from average daily rate (ADR) as opposed to occupancy in many areas. As a result, we decided to focus in on occupancy for performance leader callouts in this month’s up...

Amadeus Data Alert: Memorial Day 2022 On Track to Exceed 2019 Hotel Market Performance

Amadeus | May 23, 2022

As the summer travel season starts in the US, top markets for travel during the Memorial Day holiday weekend reflect a broad range of climates and activities including resort areas in Hawaii and Florida, major city centers, and smaller communities in the northeast and west. According to Amadeus’ Demand360® data as of May 15, 2022, occupancy is currently at 51% for the United States Memorial Day holiday weekend, with guests arriving on Friday, May 27 and departing Monday, May 30. This is matched to hotel occupancy for the same time in 2019 and exceeds occupancy in 2021 (47%) and 2020 (11%). When we consider that booking lead times ar...

STR: Abu Dhabi and Dubai Hotels Exceeded 2019 Eid al-Fitr Performance

STR | May 19, 2022

LONDON—The Abu Dhabi and Dubai hotel industries recorded occupancy and average daily rate (ADR) that exceeded the 2019 Eid al-Fitr comparables, according to preliminary data from STR. When looking at the Eid date (2 May 2022) in the United Arab Emirates, Abu Dhabi’s hotel occupancy reached 79.1%, which was 4.5% higher than 4 June 2019. Similarly, Dubai’s occupancy came in at 75.4%, which was 19.7% higher than the pre-pandemic comparable. “This high performance is yet another sign of recovery and demand momentum for the Middle East,” said Philip Wooller, STR’s senior director, Middle East & Africa. “While the...

STR: U.S. Hotel Performance for April 2022

STR | May 19, 2022

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from previous months as well as all-time high room rates, according to April 2022 data from STR. April 2022 (percentage change from April 2019): Occupancy: 65.5% (-3.3%) Average daily rate (ADR): US$149.90 (+14.0%) Revenue per available room (RevPAR): US$98.20 (+10.2%) The country’s occupancy and RevPAR levels were the highest since July 2021. On a nominal basis, the country’s ADR level was the highest for any month on record. When adjusted for inflation, the April ADR level was 0.7% above the 2019 comparable. Among the Top 25 Markets, Mi...