market projections
STR: Canada Hotel Results for Week Ending 18 July
STR | July 23, 2020
HENDERSONVILLE, Tennessee—STR data for 12-18 July 2020 shows a continued steady rise in Canadian hotel performance but the same significant level of year-over-year declines. In comparison with the week of 14-20 July 2019, the industry reported the following: Occupancy: -57.1% to 33.3% Average daily rate (ADR): -31.6% to CAD122.94 Revenue per available room (RevPAR): -70.7% to CAD40.92 Two provinces reached a 40% occupancy level: British Columbia (44.5%) and Manitoba (41.9%). Vancouver (33.1%) was the only major market at or above the 30% mark. The lowest occupancy among provinces was reported in Prince Edward Island (...
What Does the Future Look Like for Australia Hotels?
STR | July 2, 2020
As markets slowly begin to reopen and leisure demand picks up, specifically on weekends, it is important to look towards business-on-the-books data to see how these markets will perform in the coming weeks and months. While evaluating past data is crucial for the industry, it is imperative to take a step into the future to see how your hotel may compare against your market or competitive set. STR’s Forward STAR reports do just that—look 90 or 365 days ahead with this report to strategize more efficiently by correlating uptake in bookings with your marketing and promotional campaigns, as well as events or conferences in your a...
Covid-19 and The Hotel Resort Buffet: The Last Supper*?
Fred DeMicco | June 18, 2020
By Frederick DeMicco The summer of 2020 will be a year without many vacation holidays. The fear of Covid-19 will dissuade many tourists from traveling. So, in the United States especially, will loss of income from jobs placed on hold in response to the pandemic. From the “Fhobia of Flying” to those tourists lured by the sands of the Mediterranean, the Fear to take Flight now dominates the travel market. It does not help that some countries’ borders remain closed, and many also have Pre- and Post-Covid quarantines. Few events short of nuclear war could be as devastating to the global economy. Tourism is its heartbeat and a major co...
How COVID-19 Is Eating Into Hotel Profit
HotStats | June 9, 2020
COVID-19 plunged a knife in the collective heart of the global hotel industry and in one fell swoop destroyed demand, sending revenue and profit to historically low levels. This global pandemic is the most harrowing event to ever besiege the hospitality industry. As stridently as room sales have plummeted, the crash in food and beverage (F&B) is even louder. We reviewed March data to see how deeply the F&B department has cratered and what this means for Conference and Banqueting (C&B) and other areas of the profit-and-loss statement (P&L). The volume of business for U.S. hotels decreased dramatically in March: a 48.8-per...
Savvy Travelers Booking 2020 Vacations, Travel Leaders Survey Finds
Travel Leaders Network | June 8, 2020
NEW YORK, June 8, 2020 - A Travel Leaders Network survey of nearly 2,700 frequent travelers found that half are starting to make finite plans for their next vacation or have already made plans, while the other half say they are dreaming of when they can travel again. Fifty percent of those surveyed said they plan to take their next vacation in 2020. "Traveling somewhere this year is on the agenda for many travel enthusiasts. These findings align with reports from our travel advisors who are seeing calls and bookings on the rise," said Roger Block, President of Travel Leaders Network. The surv...
61% of Americans Plan to Visit Family and Friends for First Vacation After Covid-19 According to ValuePenguin.com Survey
ValuePenguin.com | June 4, 2020
NEW YORK, June 4, 2020 - Due to the coronavirus pandemic, many Americans found visiting family and friends to be a challenge and others were unable to do so at all. As everyone preps for the new normal, many Americans are eager to get back on the road and enjoy some quality time with loved ones. In a recent survey by ValuePenguin, more than 61% of Americans will visit family and friends before taking leisure vacations. As restrictions continue to ease, Americans will travel to these popular destinations: Florida, California, and New York for vacation. First upcoming trips will revolve around family and friends: 47% of Americans sai...
Domestic Bookings Could Prove a Silver Lining for UK Hotels
HVS | June 2, 2020
02 June 2020, London - The UK hotel sector’s traditionally strong domestic leisure demand bodes well for the sector’s recovery once lockdown measures from Covid-19 are fully lifted, according to a new report from global hotel consultancy HVS. However, the report outlines that hotels in the capital and other gateway cities, with heavier reliance on international travellers and corporate bookings, are likely to take longer to recover than those in the provinces, which have a more domestic, leisure-based guest profile. Many hotels outside London typically generate over 50% of domestic room nights from holidaymakers. In the Southwest of ...
STR: Europe Hotel Performance for April 2020
STR | May 28, 2020
LONDON—Reflecting the impact of the COVID-19 pandemic, Europe’s hotel industry reported unprecedented performance lows during April 2020, according to data from STR. Euro constant currency, April 2020 vs. April 2019 Occupancy: -84.6% to 11.1% Average daily rate (ADR): -30.1% to EUR77.52 Revenue per available room (RevPAR): -89.2% to EUR8.58 The absolute occupancy and RevPAR levels were the lowest for any month on record in Europe. Local currency, April 2020 vs. April 2019 Russia Occupancy: -89.0% to 7.2% ADR: -25.3% to RUB3,712.65 RevPAR: -91.8% to RUB267.20 The absolute levels in each of the three me...
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