hotel market recovery
STR | December 9, 2022
Key Takeaways Room demand growth in the U.S. came in below expectations but was still strong Weekdays were weak, partly due to less group business Many Top 25 Markets showed a sizeable occupancy gap to 2019 ADR grew below inflation again U.S. Upscale hotels performed quite well Global occupancy dipped a bit more The U.K. led Europe in occupancy The Middle posted strong occupancy The week after Thanksgiving (27 November-3 December) was somewhat typical for the U.S. hotel industry. Occupancy increased to 55.4% from 50.3% in the week prior. Room demand was up 10% week over week (WoW), which was below our ex...
Tanya J. Pierson | April 12, 2022
By Tanya J. Pierson The recently depressed performance of the Twin Cities metro area is indicative of its reliance on corporate and group demand, which has not fully re-entered the market. As a comparison, the U.S. RevPAR dropped by 48% in 2020 during the COVID-19 pandemic, while RevPAR in Minneapolis-St. Paul fell by 64%, according to STR. In 2021, the greater Minneapolis-St. Paul market’s RevPAR rose to 55% of the pre-COVID performance, while the nation rebounded more quickly to 83% of the pre-COVID level. Within the corporate segment, demand declined significantly, as most of the region’s largest employers eliminated corporate trave...
Rod Clough | August 2, 2021
By Rod Clough The ALIS Conference came and went this week, bringing Downtown L.A. hotels to life with optimism and hope that normal for the hotel industry is coming in the not-too-distant future. Here are some collective takeaways from our team that was in attendance. Market Performance The recovery remains a submarket story, with no overall trend driving the nation’s performance as a whole and little consistency in the recovery from market to market. Some markets are seeing strong recovery and are operating at or even above 2019 levels, while others are lagging. The recovery is not only underway in leisure-oriented m...
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