Lodging Market Overview: Bend, Oregon

HVS | December 1, 2021

Historical Overview In a 2019 article, we highlighted the foundations of the Bend, Oregon, market. As a recap, Bend is a drive-to destination situated east of the Cascade mountain range in Central Oregon that enjoys nearly 300 days of sunshine per year, making it an attractive leisure destination for Portland and Seattle residents. In addition to tourism, Bend’s economy is diversified by the presence of Oregon State University (OSU) and St. Charles Health System. The expansion of the local economy from 2010 through 2019, which was bolstered by a growing population, allowed for the opening of eight hotels totaling over 600 guestrooms ac...

STR: U.S. Hotel Results for Week Ending 20 November

STR | November 29, 2021

HENDERSONVILLE, Tennessee — November 29, 2021 — U.S. hotel performance dipped from the previous week but came in closer to pre-pandemic levels, according to STR‘s latest data through 20 November. 14-20 November 2021 (percentage change from comparable week in 2019*): Occupancy: 59.7% (-2.1%) Average daily rate (ADR): US$126.66 (+1.7%) Revenue per available room (RevPAR): US$75.60 (-0.4%) Among the Top 25 Markets, Phoenix saw the largest occupancy increase over 2019 (+6.4% to 76.6%). Oahu Island experienced the steepest occupancy decline from 2019 (-35.2% to 51.8%). Miami reported the lar...

STR: Canada Hotel Performance Dipped in October

STR | November 23, 2021

HENDERSONVILLE, Tennessee — November 23, 2021 — Canada’s hotel industry reported lower performance levels from the month prior, according to STR’s October 2021 data. The country’s performance levels also remained well below pre-pandemic comparisons from October 2019: Occupancy: 51.0% (-24.4%) Average daily rate (ADR): CAD141.87 (-10.5%) Revenue per available room (RevPAR): CAD72.37 (-32.3%) "Following the typical seasonal pattern, October hotel performance fell month over month, but there was some positive news in the data," said Laura Baxter, CoStar Group's director of hospitality analytics for Canada. Cost...

Deal Activity in the Travel & Tourism Sector Improved by 22% During October 2021, Finds GlobalData

GlobalData | November 19, 2021

A total of 72 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during October 2021, which is a growth of 22% over 59 deals announced in September, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “This is the second consecutive month of growth in deal activity for the sector. As several countries have eased travel restrictions and COVID-19 booster jabs are being rolled out, deal-making sentiments for the sector appear to be improving. However, a surge in COVID-19 cases i...

STR: U.S. Hotel Performance for October 2021

STR | November 19, 2021

HENDERSONVILLE, Tennessee — November 19, 2021 — The U.S. hotel industry reported higher performance than the month prior, according to October 2021 data from STR. October 2021 (percentage change from October 2019): Occupancy: 62.9% (-8.8%) Average daily rate (ADR): US$134.78 (+1.2%) Revenue per available room (RevPAR): US$84.75 (-7.6%) Among the Top 25 Markets, Nashville experienced the highest occupancy level (71.8%), which was still down 11.9% from the market’s 2019 benchmark. None of the Top 25 Markets saw an occupancy increase over October 2019. Markets with the lowest occupancy for the month inclu...

STR: U.S. Hotel Results for Week Ending 13 November

STR | November 18, 2021

HENDERSONVILLE, Tennessee — November 18, 2021 — U.S. hotel performance increased slightly from the previous week, according to STR‘s latest data through 13 November. 7-13 November 2021 (percentage change from comparable week in 2019*): Occupancy: 61.6% (-3.9%) Average daily rate (ADR): US$129.98 (+2.6%) Revenue per available room (RevPAR): US$80.02 (-1.4%) Among the Top 25 Markets, Norfolk/Virginia Beach saw the only occupancy increase over 2019 (+8.8% to 60.6%). San Francisco/San Mateo experienced the steepest occupancy decline from 2019 (-35.8% to 55.8%). New Orleans reported the largest ADR increase whe...

Early Planning Projects in Europe’s Hotel Construction Pipeline Increase Year-Over-Year

Lodging Econometrics | November 17, 2021

PORTSMOUTH, NH – November 17, 2021 – According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that at the close of the third quarter of 2021, Europe’s hotel construction pipeline stands at 1,814 projects and 295,719 rooms; and remains largely unchanged year-over-year (YOY). Much like other regions around the world, Europe’s hotel industry continues to face challenges created by the COVID-19 pandemic. Nevertheless, travel activity has been rebounding over recent months, a positive and welcomed step toward industry recovery. Successful vaccination programs throughout the ...

2021 Meeting Planner Survey Reveals Key Insights as Industry Accelerates Into Recovery

Knowland | November 17, 2021

65 percent of respondents have meetings booked in the 4th quarter of 2021 ARLINGTON, Va., Nov. 17, 2021 — Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and ConferenceDirect, a full service in-person, virtual, and hybrid meeting solution company, announced the results of a survey entitled, 2021 Planner Survey: The State of the Meetings Industry, designed to help industry professionals understand the current state of recovery from the meeting and event managers’ perspectives, including what they expect and plan to prioritize as the industry accelerates towards reco...