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STR: Abu Dhabi and Dubai Hotels Exceeded 2019 Eid al-Fitr Performance
STR | May 19, 2022
LONDON—The Abu Dhabi and Dubai hotel industries recorded occupancy and average daily rate (ADR) that exceeded the 2019 Eid al-Fitr comparables, according to preliminary data from STR. When looking at the Eid date (2 May 2022) in the United Arab Emirates, Abu Dhabi’s hotel occupancy reached 79.1%, which was 4.5% higher than 4 June 2019. Similarly, Dubai’s occupancy came in at 75.4%, which was 19.7% higher than the pre-pandemic comparable. “This high performance is yet another sign of recovery and demand momentum for the Middle East,” said Philip Wooller, STR’s senior director, Middle East & Africa. “While the...
STR: U.S. Hotel Performance for April 2022
STR | May 19, 2022
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from previous months as well as all-time high room rates, according to April 2022 data from STR. April 2022 (percentage change from April 2019): Occupancy: 65.5% (-3.3%) Average daily rate (ADR): US$149.90 (+14.0%) Revenue per available room (RevPAR): US$98.20 (+10.2%) 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 April ADR level was 0.7% above the 2019 comparable. Among the Top 25 Markets, Mi...
STR: U.S. Hotel Results for Week Ending 14 May
STR | May 19, 2022
HENDERSONVILLE, Tennessee—U.S. hotel performance improved from the previous week, according to STR‘s latest data through 14 May. 8-14 May 2022 (percentage change from comparable week in 2019*): Occupancy: 66.5% (-5.9%) Average daily rate (ADR): US$148.31 (+10.5%) Revenue per available room (RevPAR): US$98.59 (+4.1%) Among the Top 25 Markets, Phoenix saw the highest occupancy increase over 2019 (+4.5% to 73.8%). Philadelphia experienced the largest occupancy decrease from 2019 (-19.6% to 64.8%). Miami posted the highest ADR gain over 2019 (+62.8% to US$282.26). The steepest RevPAR deficits were in San Fr...
India Hotel Performance Continues to Eclipse Pre-Pandemic Levels
STR | May 17, 2022
India’s hotel performance recovery resumed early in 2022, but April seemed to be the turning point with the country outpacing pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive weeks. Leisure markets have continued to lead recovery, but business travel is also back in the country post-Omicron. Forward bookings also appear to be healthy for the remainder of May with most pickup remaining short-term. 20 straight days above pre-pandemic comparables Running 7-day occupancy and ADR had been trending at 90% or better of 2019 levels since the latter portion of March, with occupancy eclipsing pre...
STR: U.S. Hotel Results for Week Ending 7 May
STR | May 16, 2022
HENDERSONVILLE, Tennessee—U.S. hotel occupancy declined from the previous week, while average daily rate (ADR) increased slightly, according to STR‘s latest data through 7 May. 1-7 May 2022 (percentage change from comparable week in 2019*): Occupancy: 63.9% (-6.1%) Average daily rate (ADR): US$147.24 (+12.0%) Revenue per available room (RevPAR): US$94.10 (+5.1%) Among the Top 25 Markets, San Diego saw the highest occupancy increase over 2019 (+5.6% to 74.5%). Chicago experienced the largest occupancy decrease from 2019 (-22.2% to 59.2%). The steepest RevPAR deficits were in San Francis...
What Is Average Daily Rate (ADR)? And How to Calculate It
STR | May 10, 2022
Average daily rate (ADR), one of the three key hotel performance indicators (along with occupancy and RevPAR), is the measure of the average paid for rooms sold in a given time period. The metric covers only revenue-generating guestrooms. ADR is a direct factor in revenue per available room (RevPAR), the hotel industry gold standard for measuring top-line performance in a hotel, portfolio, market segment or geographic area. The rooms department is typically the largest generator of revenue and profit for hotels. An effective approach to ADR is a key piece of the hotel revenue-management cycle with the goal of maximizing profitability. How...
STR: Australian Grand Prix Drove Melbourne Hotel Rates to Record High in April
STR | May 10, 2022
LONDON—Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR. Occupancy: 65.1% Average daily rate (ADR): AUD238.30 Revenue per available room (RevPAR): AUD155.14 The market’s occupancy level was its highest since February 2020, while RevPAR was the highest since November 2019. When looking at daily data, the night prior to race day (9 April) showed the highest performance levels for the month: occupancy (89.2%), ADR (AUD387.51) and RevPAR (AUD345.68). The Grand Prix weekend (8-10 April) was the only time durin...
Baird/STR Hotel Stock Index Rose 0.7% in April
STR | May 9, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index rose 0.7% in April to a level of 5,925. Year to date through the first four months of 2022, the stock index increased 3.1%. “Hotel stocks increased modestly in April but were significant relative outperformers as the broader travel recovery accelerated, particularly domestically,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Underlying hotel fundamentals continued their rebound in April, especially in some of the harder-hit urban markets, and better-than-expected intra-quarter updates from companies boosted investo...
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