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India Hotel Occupancy on a Continued Decline Amid Second COVID-19 Wave
STR | June 10, 2021
LONDON — June 10, 2021 — After an improved start to 2021, India’s hotel occupancy has been on a rapid decline amid the second COVID-19 wave in the country, according to data from STR. India’s monthly occupancy reached a pandemic high in February (53.9%), which looked to be solid progress toward recovery as the monthly level was roughly 73% of the 2019 comparable. By April, however, occupancy in the country fell to 31.0%, and more recently, just 21.5% for the week ending 30 May. “We saw India’s resilience as an emerging market play out over the early portion of 2021,” said Vidhi Godiawala, STR’s business development mana...
STR: U.S. Hotel Results for Week Ending 5 June
STR | June 10, 2021
HENDERSONVILLE, Tennessee — June 10, 2021 — U.S. weekly hotel performance remained relatively flat from the previous week but still reached pandemic-era highs, according to STR‘s latest data through 5 June. 30 May through 5 June 2021 (percentage change from comparable week in 2019*): Occupancy: 61.9% (-14.0%) Average daily rate (ADR): US$123.49 (-6.7%) Revenue per available room (RevPAR): US$76.44 (-19.7%) Each of the three key performance metrics were the highest of the pandemic era. Among the Top 25 Markets, Miami saw the largest increases over 2019 across each of the three key p...
Baird/STR Hotel Stock Index Dipped 2.8% in May
STR | June 8, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dipped 2.8% in May to a level of 5,148. Year to date through the first five months of 2021, the stock index was up 12.6%. “Hotel stocks declined in May and underperformed their respective benchmarks for the third consecutive month,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The broader reopening trade continues to lose momentum despite hotel fundamentals that continue to improve on a sequential basis, which is being driven by strong leisure demand. The return of the business traveler later this year is our key area of fo...
STR: U.S. Hotel Results for Week Ending 29 May
STR | June 7, 2021
HENDERSONVILLE, Tennessee — June 7, 2021 — Boosted by the Friday and Saturday of Memorial Day weekend, U.S. weekly hotel occupancy reached its highest level since late-February 2020, according to STR‘s latest data through 29 May. 23-29 May 2021 (percentage change from comparable week in 2019*): Occupancy: 61.8% (-4.2%) Average daily rate (ADR): US$122.06 (-1.6%) Revenue per available room (RevPAR): US$75.42 (-5.7%) Percentage changes were skewed more to the positive because the 2019 comparable was the week after Memorial Day. Regardless, this past Saturday’s 83.0% occupancy level was the country’...
U.S. Market Recovery Monitor for Week Ending 22 May 2021
STR | May 28, 2021
The leisure-led demand surge marched forward with U.S. industry occupancy hitting 60.3%, surpassing the 60% level for the first time since early March 2020. On a total-room-inventory basis (TRI), which accounts for temporarily closed hotels, occupancy was 57.7%, which was also the highest since the pandemic’s start. More importantly, all key measures (demand, occupancy, ADR and RevPAR) reached a 62-week high, led by the Top 25 Markets, where on average, each hotel sold an additional 15 rooms last week versus the previous week. In total, the industry sold more than 3.3 million rooms each day during the week, a level like November 2019, but 3...
STR: U.S. Hotel Results for Week Ending 22 May
STR | May 27, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy reached the 60% mark for the first time since the start of the pandemic, according to STR‘s latest data through 22 May. 16-22 May 2021 (percentage change from comparable week in 2019*): Occupancy: 60.3% (-15.1%) Average daily rate (ADR): US$115.57 (-13.6%) Revenue per available room (RevPAR): US$69.69 (-26.6%) ADR also reached its highest point of the pandemic but was still US$18 less than the corresponding week in 2019. RevPAR also hit a high point when compared to 2019. Miami (+2.8% to 76.0%) was the only Top 25 Market to report an occupancy increase over 2019. Sa...
U.S. Hotel Profit Improved to 60% of 2019 Level, Labor Remains Stagnant
STR | May 27, 2021
BROOMFIELD, Colorado—Gross operating profit for U.S. hotels reached 60% of the comparable 2019 level, according to STR‘s April 2021 monthly P&L data release. While GOP in comparison with 2019 improved from 50% in March, labor spending was up to just 64% in April after coming in at 60% the previous month. Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February 2020 except for labor, which was down slightly from March. GOPPAR: US$28.67 TRevPAR: US$87.34 EBITDA PAR: US$14.12 LPAR (Labor Costs): US$26.76 “April was an encouraging month as more of the top-...
STR: Canada hotel performance for April 2021
STR | May 25, 2021
HENDERSONVILLE, Tennessee—Canada’s hotel industry reported slightly lower performance from the previous month, according to STR’s April 2021 data. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained well below the pre-pandemic comparable of April 2019: Occupancy: 29.4% (-52.7%) Average daily rate (ADR): CAD113.77 (-25.1%) Revenue per available room (RevPAR): CAD33.41 (-64.6%) “Occupancy had been on a slow, upward trajectory. However, the spike in COVID-19 cases, restrictions on domestic travel and ...
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