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Canada Hotel Occupancy Reached Four-Year High in August
CoStar Group | September 22, 2023
WASHINGTON – September 21, 2023 – Canada’s hotel industry reported its highest occupancy level since August 2019, according to CoStar’s August 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. August 2023 (percentage change from August 2022): Occupancy: 77.4% (+1.4%) Average daily rate (ADR): CAD226.04 (+5.8%) Revenue per available room (RevPAR): CAD174.87 (+7.2%) “Although year-over-year growth has moderated from earlier this year, performance improvement in August was still a considerable achievement against stronger metrics from las...
U.S. Hotel Results for Week Ending 16 September
CoStar Group | September 22, 2023
WASHINGTON – 22 September 2023 –U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 16 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 10-16 September 2023 (percentage change from comparable week in 2022): Occupancy: 67.7% (-2.2%) Average daily rate (ADR): US$161.15 (+2.3%) Revenue per available room (RevPAR): US$109.07 (+0.1%) Among the Top 25 Markets, Oahu Island saw the largest year-over-year occupancy increase (+7.4% to 83.6%). Helped by Dreamforce 2023, San Francisco posted the h...
Amsterdam Hotel Performance Jumped During Eventful August
CoStar Group | September 18, 2023
WASHINGTON – 18 September 2023 – Amsterdam’s hotel industry showed event-driven improvement in monthly performance, according to preliminary August 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. August 2023 (year-over-year % change): Occupancy: 80.0% (+5.2%) Average daily rate (ADR): EUR180.45 (+18.9%) Revenue per available room (RevPAR): EUR144.40 (+25.0%) The market’s hotel performance was helped by several events, including Pride Amsterdam, the 46th Congress of the European Society of Cardiology (ESC) and the Dutch Grand...
U.S. Hotel Performance for July 2023
CoStar Group | August 21, 2023
WASHINGTON – 21 August 2023 – The U.S. hotel industry reported mixed performance results month over month, according to July 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. July 2023 (percentage change from July 2022): Occupancy: 69.1% (-0.5%) Average daily rate (ADR): US$160.31 (+1.3%) Revenue per available room (RevPAR): US$110.80 (+0.8%) Among the Top 25 Markets, San Diego experienced the highest occupancy level (86.5%), which was up 2.6% year over year. Markets with the lowest occupancy for the month included New Orleans (...
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...
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