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STR: U.S. Hotel Results for Week Ending 9 July
STR | July 14, 2022
HENDERSONVILLE, Tennessee—As expected on the negative side of a holiday calendar shift, U.S. hotel performance came in lower than the previous week, according to STR‘s latest data through 9 July. 3-9 July 2022 (percentage change from comparable week in 2019*): Occupancy: 63.3% (-14.5%) Average daily rate (ADR): US$153.71 (+15.7%) Revenue per available room (RevPAR): US$97.37 (-1.1%) Whereas the previous week’s percentage changes were elevated on the favorable side of the calendar shift, the most recent week was skewed downward due to a comparison with a non-holiday week in 2019. After two consecutive weeks of lower dem...
STR: Canada Hotels Post Highest Rates Since September 2019
STR | June 27, 2022
HENDERSONVILLE, Tennessee—Canada’s monthly hotel performance improved from the previous month yet again, and room rates reached the highest level since September 2019, according to STR’s May 2022 data. May 2022 (percentage change from May 2019) Occupancy: 63.4% (-6.7%) Average daily rate (ADR): CAD171.37 (+2.8%) Revenue per available room (RevPAR): CAD108.67 (-4.1%) In addition to the highest ADR level since September 2019, the May RevPAR level was the country’s highest since October 2019 while occupancy was its highest since August 2021. “Overall, May was a strong month for Canada hotels, with many of the segme...
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...
Hotel Demand Races Upwards Around Formula 1 Events
STR | April 26, 2022
Formula 1 has an ever-growing fan base, including many hoteliers who are currently witnessing a surge in occupancy on the books because of an upcoming Grand Prix in their city. Utilizing STR’s Forward STAR, we review five markets set to host a race over the course of this year, including Miami, one of our newest Forward STAR markets in North America. Through STR’s historical database, we also look at the actualized impact from a recent F1 event in Australia. North America While not at the level of Europe or the Middle East, Formula 1 is growing in popularity throughout North America. One way of observing this growth is through the risin...
STR: Canada Hotel Rates Exceeded 2019 Levels in March
STR | April 26, 2022
HENDERSONVILLE, Tennessee—Canada’s monthly hotel rates exceeded 2019 levels for the first time since the pandemic began, according to STR’s March 2022 data. March 2022 (percentage change from March 2019) Occupancy: 53.3% (-11.2%) Average daily rate (ADR): CAD149.73 (+0.7%) Revenue per available room (RevPAR): CAD79.87 (-10.5%) "Hotel performance improved significantly with the elimination of nearly all COVID-related restrictions across the country,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “The absolute occupancy level was the hi...
STR: U.S. Hotel Performance for March 2022
STR | April 21, 2022
HENDERSONVILLE, Tennessee—Lifted by Spring Break travel, the U.S. hotel industry reported elevated performance with better indexed comparisons against 2019, according to March 2022 data from STR. March 2022 (percentage change from March 2019): Occupancy: 64.0% (-6.2%) Average daily rate (ADR): US$146.61 (+10.9%) Revenue per available room (RevPAR): US$93.82 (+4.0%) 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 March ADR level was roughly 2% below the 2019 comparable. Amo...
STR: U.S. Hotel Results for Week Ending 16 April
STR | April 21, 2022
HENDERSONVILLE, Tennessee—Aligned with historical patterns, U.S. hotel performance came in lower during the week of Easter, according to STR‘s latest data through 16 April. 10-16 April 2022 (percentage change from comparable week in 2019*): Occupancy: 62.0% (-5.6%) Average daily rate (ADR): US$147.25 (+14.4%) Revenue per available room (RevPAR): US$91.25 (+8.0%) Among the Top 25 Markets, Tampa saw the highest occupancy increase over 2019 (+3.2% to 76.6%). Minneapolis experienced the largest occupancy decrease from 2019 (-22.7% to 46.6%). Phoenix posted the largest ADR increase over 2019 (+33.8% to US$189.16...
STR: U.S. Hotel Results for Week Ending 26 February
STR | March 3, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week and showed significant improvement against 2019 comparables, according to STR‘s latest data through 26 February. 20-26 February 2022 (percentage change from comparable week in 2019*): Occupancy: 62.2% (-4.7%) Average daily rate (ADR): US$143.83 (+13.1%) Revenue per available room (RevPAR): US$89.45 (+7.7%) Among the Top 25 Markets, Orlando recorded the largest occupancy increase over 2019 (+6.7% to 85.9%). San Francisco/San Mateo experienced the largest occupancy decrease from 2019 (-31.9% to 53.7%). Helped by the Sou...
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