market trends
U.S. Hotels Posted Record-High ADR and RevPAR in 2023
CoStar Group | January 18, 2024
WASHINGTON – 18 January 2024 – The U.S. hotel industry posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 2023 (percentage change from 2022): Occupancy: 63.0% (+0.6%) ADR: US$155.62 (+4.3%) RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019. Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+8.8% to 81.6%), ADR ...
Planning Phases of U.S. Hotel Pipeline Reflect Confidence in Travel
CoStar Group | January 18, 2024
WASHINGTON – 18 January 2024 – Activity in the planning phases of the U.S. hotel pipeline remain up, while rooms in construction decreased after two months of gains, according to CoStar’s December 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline December 2023 (percentage change from December 2022) In construction: 152,114 rooms (-4.5%) Final Planning: 255,039 rooms (+19.7%) Planning: 318,597 rooms (+32.7%) “The number of rooms in construction fell in December following a nearly 7% increase in October that held steady...
STR Weekly Insights: 10-16 December 2023
CoStar Group | December 22, 2023
Note: Due to the Christmas and New Year’s holidays, the next edition of Weekly Insights will run on 12 January 2024 Analysis by Isaac Collazo, Chris Klauda, Will Anns Countries included: China, Germany, Japan, United Kingdom, and the United States Highlights The Top 25 Markets propelled U.S. RevPAR growth to a three-week high. Group demand gained. Soccer ruled in the U.K. and Germany with all but one of the five markets hosting UEFA Champions league matches posting double-digit occupancy increases. College Bowl games and New Year’s Eve will provide a boost to the industry as the year winds to a close. New ...
STR: U.S. Hotel Results for Week Ending 30 July
STR | August 4, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance dipped slightly from the previous week, which was the traditional summer travel peak, according to STR‘s latest data through 30 July. 24-30 July 2022 (percentage change from comparable week in 2019*): Occupancy: 71.9% (-3.8%) Average daily rate (ADR): US$158.32 (+18.3%) Revenue per available room (RevPAR): US$113.90 (+13.9%) While absolute levels were lower than the week prior, comparisons against 2019 levels strengthened. Among the Top 25 Markets, Nashville reported the largest occupancy increase over 2019 (+4.2% to 77.8%). San Diego (87.4%), Boston (85.5%)...
STR: U.S. Hotel Results for Week Ending 25 June
STR | June 30, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance continued to climb with another weekly record established for revenue per available room (RevPAR) on a nominal basis, according to STR‘s latest data through 25 June. 19-25 June 2022 (percentage change from comparable week in 2019*): Occupancy: 72.3% (-4.1%) Average daily rate (ADR): US$157.05 (+17.1%) Revenue per available room (RevPAR): US$113.55 (+12.3%) The country’s occupancy level was the highest since August 2019, while ADR (nominal) was the highest since the week ending 1 January 2022. Among the Top 25 Markets, Dallas saw the largest occupancy increase ov...
100% of Global Destinations Now Have COVID-19 Travel Restrictions, UNWTO Reports
The World Tourism Organization (UNWTO) | April 29, 2020
The COVID-19 pandemic has prompted all destinations worldwide to introduce restrictions on travel, research by the World Tourism Organization (UNWTO) has found. This represents the most severe restriction on international travel in history and no country has so far lifted restrictions introduced in response to the crisis. Following up on previous research, the latest data from the United Nations specialized agency for tourism shows that 100% of destinations now have restrictions in place. Of these, 83% have had COVID-19-related restrictions in place already for four or more weeks and, as of 20 April, so far no destination has lifted them. ...
Global Hotel Profit Rocked by COVID-19
HotStats | April 27, 2020
In the first analysis of full profit-and-loss performance since the COVID-19 pandemic swept through the global hospitality industry, March was expectedly a brutal month, with the U.S., Europe, Asia and Middle East all recording year-over-year profit drops of 100% or more, according to HotStats data, as the virus’ spread continued unabated, all but shutting down travel. To date, there are more than 2.7 million cases of COVID-19 globally, a third of which are in the U.S., where hotel performance predictably nosedived in March, after a mostly banal February. Gross operating profit per available room (GOPPAR) was down 110.6% YOY to $-12.7...
HVS Market Pulse: Southeastern U.S. Hotel Markets Poised for Strong 2019
Rodney G. Clough | March 5, 2019
by Rodney G. Clough I recently checked in with my five Directors that oversee our five offices in the Southeast to see how their hotel markets were holding up as we head further into 2019. Overall, the pulse of each area was positive, with some expecting some softening in occupancy this year, which mirrors our overall national sentiment. However, ADR growth should keep overall RevPAR change in the positive column. Here's what each Director had to say. Mallory White, Director of the Tampa – St. Petersburg HVS Office A record-breaking spring season in 2018 allowed for strong rate growth; however, the toxic algae bloom known as &qu...
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