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CoStar: U.S. hotel performance down in early June, YOY comparisons up - 0 views

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    U.S. HOTEL INDUSTRY reported lower performance results in the first week of June from the previous week, according to CoStar. However, there was slightly positive comparisons year over year. All key metrics including occupancy, RevPAR and ADR were down compared to prior week. Occupancy declined to 62 percent for the week ending June 1, down from 67.7 percent the prior week, reflecting a 0.9 percent year-over-year increase. ADR decreased to $150.87 from $160.67, yet still showed a 0.1 percent increase compared to last year. RevPAR stood at $93.50, a decline from the previous week's $108.73, but marking a 1 percent increase compared to the same period in 2023. Among the top 25 markets, New Orleans experienced the highest year-over-year occupancy increase, rising 17.8 percent to 66.8 percent.
asianhospitality

CoStar: U.S. hotel performance declined in mid-June with mixed YOY results - 0 views

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    U.S. HOTEL PERFORMANCE declined in the third week of June compared to the previous week, with mixed year-over-year results, according to CoStar. Key metrics such as occupancy, RevPAR, and ADR all decreased from the prior week. Occupancy declined to 69.5 percent for the week ending June 22, down from 70.3 percent the previous week, with a 2.5 percent year-over-year decrease. ADR fell to $159.88 from $161.70, despite a 0.1 percent rise compared to last year. RevPAR decreased to $111.17 from $113.62 the previous week, marking a 2.3 percent decrease compared to the same period in 2023. Among the top 25 markets, Seattle recorded the highest year-over-year increases, with occupancy rising by 11.1 percent to 84.9 percent and RevPAR growing 16.8 percent to $179.47. Meanwhile, Philadelphia saw the largest increase in ADR, rising 6.5 percent to $170.10.
asianhospitality

CoStar: U.S. hotel performance displays mixed results in third week of April - 0 views

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    U.S. HOTEL PERFORMANCE exhibited mixed results in the third week of April compared to the previous week, according to CoStar. Key metrics such as occupancy and ADR saw slight increases, while RevPAR declined from the preceding week. Occupancy rose to 66.8 percent for the week ending April 20, up from the previous week's 65.8 percent, but marked a 0.3 percent year-over-year decrease. ADR dropped to $158.60 from $160.20, a 1.5 percent increase compared to last year. RevPAR climbed to $105.94 from $105.48 the prior week, showing a 1.2 percent rise compared to the same period in 2023. Among the top 25 markets, Philadelphia saw the most significant year-over-year occupancy surge, soaring by 14.3 percent to reach 72.1 percent, while RevPAR also notably increased by 23.2 percent to $114.11.
asianhospitality

Report: Leap year boosts extended-stay metrics in February - 0 views

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    EXTENDED-STAY ROOM SUPPLY increased by 1.8 percent in February due to it being a leap year, consistent with the average monthly increase observed over the last two years, according to The Highland Group. February marked 29 consecutive months of 4 percent or less supply growth. Additionally, the change in supply has remained below 2 percent for more than two years, with both metrics significantly falling below the long-term average. The 18.8 percent surge in economy extended-stay supply, along with a modest increase in mid-price segment rooms, is largely attributed to conversions, The Highland Group said. Meanwhile, new construction in the economy segment is estimated at around 3 percent of open rooms compared to a year ago. 2024 first half supply trends Supply change comparisons have been affected by rebranding, segment realignment in The Highland Group's database, and the de-flagging of hotels failing to meet brand standards, along with sales to multi-family apartment companies and municipalities, the report said. This trend is expected to persist into the first half of 2024, particularly with older extended-stay hotels still available on the market.
asianhospitality

STR: GOPPAR of U.S. hotels dropped in July - 0 views

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    GOPPAR FOR U.S. hotels dropped in July but once again exceeded 2019 levels for the fourth consecutive month, according to STR. The summer peak still brought an increase in demand, but the cost of ramping up to meet that demand cut into profit margins. GOPPAR was $78.30 for the month, down from $91.23 reported in June. It was $88.63 in May and stood at $90.96 in April. EBITDA PAR was $55.29 for July, TRevPAR was $209.66 and labor costs per room were $67.27. "While each of the key bottom-line metrics decreased slightly from June on a per-available-room basis, total profits increased with peak summer room demand and revenues," said Raquel Ortiz, STR's director of financial performance. "Profit margins were stronger than July 2019 for both full- and limited-service hotels, but GOP margins were at lower levels than the previous four months. The dip in margins can be attributed to higher expenses associated with more ramped-up operations as well as the general rise in costs around the country. Rising wages are being somewhat balanced by hotels using more contract labor and reducing benefits costs."
asianhospitality

STR: U.S. hotels see highest RevPAR since mid-July 2019 - 0 views

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    THE RevPAR OF U.S. hotels in the third week of May was the highest it has been since mid-July 2019, according to STR. Also, all metrics in April as a month improved compared to March, and hotels reported all-time high room rates during the period. Occupancy was 68.6 percent for the week ending May 21, up from 66.5 percent the week before and down 3.5 percent from 2019. ADR was $151.75 for the week, increased from $148.31 the week before and up 13.4 percent from three years ago. RevPAR reached $104.06 percent during the week, up from $98.59 the week before and rose 9.5 percent from 2019. STR's top 25 markets saw their highest weekly occupancy, ADR and RevPAR levels of the pandemic-era during the week.
asianhospitality

STR's Forward STAR to add more than 100 new locations in North America - 0 views

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    STR HAS UNVEILED the forward-looking component of its product "Forward STAR" in 104 new markets/submarkets across the U.S. and Canada. Forward STAR, which is presently live in 450 areas around the globe, allows hotel property and portfolio users to benchmark the next 365 days of occupancy on the books against the competition and market. "This launch represents our largest Forward STAR expansion to date and adds significant value to our overall benchmarking offering," said Amanda Hite, STR's president. "Adding to the historical data that drives so many operational decisions around the industry, this directly sourced forward data provides intel into where hotels can gain available business, adjust their approach to pricing, and implement actions around market events. When combining historical metrics, profitability data and these forward bookings insights, industry stakeholders are positioned to analyze performance from every angle." According to the statement, Forward STAR was launched in 17 of the country's 25 largest hotel markets, including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix. More granular submarkets were added with the addition of central business districts in markets such as Austin, Chicago, Nashville and New Orleans as well as airport submarkets in areas such as Miami, San Francisco and Bradenton, Florida.
asianhospitality

CoStar: Passover affects U.S. hotel performance in fourth week of April - 0 views

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    U.S. HOTEL PERFORMANCE declined in the fourth week of April compared to the previous week and the corresponding period last year, as expected during Passover, according to CoStar. All key metrics, including occupancy, RevPAR and ADR, experienced a decrease compared to the previous week. Occupancy came in at 65.7 percent for the week ending April 27, down from the previous week's 66.8 percent, while marking a 1.2 percent year-over-year decrease. ADR decreased to $154.44 from $158.60, reflecting a 1.3 percent decline compared to last year. RevPAR stood at $101.42, down from $105.94 the prior week, indicating a 2.5 percent dip compared to the same period in 2023. Among the top 25 markets, Seattle reported the sole double-digit increase in occupancy, rising by 15.6 percent to 74.6 percent. Detroit, host of the NFL Draft, saw the most significant surge in both ADR, rising by 21.8 percent to $147.83, and RevPAR, increasing by 25.6 percent to $94.74.
asianhospitality

STR: U.S. Hotel Performance Up In First Week Of November - 0 views

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    ALL THE PERFORMANCE metrics of U.S. hotels improved in the first week of November, according to STR. However, it remains below the performance reported two years ago. Occupancy was 59.8 percent for the week ending Nov. 6, up from 58.9 percent the week before and a 13 percent drop from the same period in 2019. ADR for the first week of the month was $128.14, up from $127.70 the week before and down 3.2 percent for the same period in 2019. RevPAR increased to $76.61 from $75.28 the week before. It was reduced by 15.8 percent when compared to the same period two years ago. During the week under review, none of STR's top 25 markets recorded an occupancy increase over 2019. Norfolk/Virginia Beach came closest to its 2019 comparable, down only 5.2 percent to 59.9 percent. The largest ADR increase was reported in Miami, up 13.6 percent to $205.56, when compared to two years ago.
asianhospitality

Summer travel : Slight dip in U.S. hotel performance | STR Report - 0 views

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    THERE WAS A slight dip in U.S. hotel performance in the fifth week of July compared to the week before, which was the traditional summer travel peak, according to STR. Performance metrics for hotels were lower during the week compared to the week before, but higher when compared to 2019. Occupancy was 71.9 percent for the week ending July 30, down from 72.8 percent the week before and dropped 3.8 percent from 2019. ADR was $158.32 for the week, a slight dip from $158.79 the week before and increased 18.3 percent from three years ago. RevPAR reached $113.90 during the week, down from $115.59 the week before and up 13.9 percent from 2019. Nashville reported the largest occupancy increase during the post summer travel peak week, up 4.2 percent to 77.8 percent, over 2019 among STR's top 25 markets. The highest occupancy were in San Diego (87.4 percent), Boston (85.5 percent), and Oahu Island (85.3 percent) during the week under review.
asianhospitality

STR:U.S. hotels scale new weekly records in the fourth week of June - 0 views

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    U.S. HOTELS POSTED new weekly records in all performance metrics in the fourth week of June, according to STR. The RevPAR on a nominal basis scaled new weekly record during the week, occupancy was the highest since August 2019, while ADR on a nominal basis was the highest since the week ending 1 January 2022. Occupancy was 72.3 percent for the week ending June 25, up from 71.8 percent the week before and dropped 4.1 percent from 2019. ADR was $157.05 for the week, up from $155.02 the week before and increased 17.1 percent from three years ago. RevPAR reached $113.55 during the week up from $111.29 the week before and up 12.3 percent from 2019. Dallas saw the largest occupancy increase, up 5.8 percent to 74.1 percent, over 2019, among STR's top 25 markets.
asianhospitality

STR: Weekly U.S. hotel occupancy falls in first week of March - 0 views

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    U.S. HOTEL OCCUPANCY was down in first week of March week-over-week, according to STR. All metrics were higher than comparable time periods in the last two years. Occupancy stood at 62.8 percent for the week ending March 4, down from 64.2 percent the week before, 3 percent more than the comparable week in 2022 and 5.6 percent below the comparable week in 2019. ADR stood at $151.35 for, up from $156.51 the previous week and also up 8.9 percent and 14.1 percent over the same month in 2022 and 2019, respectively. RevPAR was reported at $95.06, down from $100.43 the previous week, and up 12.1 percent and 7.7 percent increase over the same month in 2022 and 2019. Among the Top 25 Markets, Detroit saw the highest occupancy increase over 2019, up 5 percent to 63.2 percent, while Washington, D.C., was up the most from last year, an increase of 23.6 percent to 64.1 percent. D.C. also reported the most substantial year-over-year RevPAR growth, up 52.2 percent to $113.56. Las Vegas reported the highest ADR increase at $196.65 when measuring against 2019, up 56.8 percent and an increase of 33.7 percent in 2022. Las Vegas also saw the largest jump in RevPAR over 2019, up 54.3 percent to $153.55.
asianhospitality

CoStar: U.S. hotel performance shows mixed results in first week of May - 0 views

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    U.S. HOTEL PERFORMANCE exhibited mixed results in the first week of May compared to the prior week, according to CoStar. Among key metrics, occupancy declined, whereas both RevPAR and ADR saw an uptick. Occupancy dropped to 64.4 percent for the week ending May 4, down from the previous week's 65.7 percent, marking a 0.8 percent year-over-year decrease. ADR rose to $159.97 from $154.44, reflecting a 1.3 percent increase compared to last year. RevPAR climbed to $103.09, up from $101.42 the prior week, indicating a 0.5 percent increase compared to the same period in 2023. Among the top 25 markets, Seattle reported the highest year-over-year increase in occupancy, rising by 8.1 percent to 69.4 percent. Dallas recorded the largest increase in ADR, up 5.8 percent to $134.33.
asianhospitality

CoStar: U.S. hotel performance up in third week of March despite YOY declines - 0 views

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    U.S. HOTEL PERFORMANCE saw an uptick in the third week of March compared to the previous week, although year-over-year figures continued to decline, according to CoStar. Key metrics such as occupancy, ADR and RevPAR continued their upward trajectory during this period compared to the preceding week. Occupancy increased to 66.5 percent for the week ending March 16, up from the previous week's 63.2 percent, reflecting a 1.4 percent year-over-year decline. ADR rose to $163.21 from $156.96 the previous week, marking a 2.1 percent decrease compared to last year. RevPAR reached $108.51, up from the previous week's $99.17, signifying a 3.5 percent decrease compared to the same period in 2023. Among the top 25 markets, Seattle reported significant year-over-year increases in occupancy, rising by 12.7 percent to 73 percent, and in RevPAR, which increased by 21.7 percent to $120.29.
asianhospitality

U.S. hotel performance dips in first week of February - 0 views

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    U.S. HOTEL PERFORMANCE decreased slightly in the first week of February from the previous week, while year-over-year comparisons remained mixed, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all declined in the first week of February compared to the previous week. Occupancy dipped slightly to 55.2 percent for the week ending Feb. 3, from the previous week's 56.2 percent, reflecting a 0.1 percent decrease year-over-year. ADR decreased to $147.99 from the prior week's $149.76, marking a 1.9 percent increase compared to the previous year. RevPAR declined to $81.69 from the prior week's $84.13, reflecting a 1.7 percent increase compared to the corresponding period in 2023. Among the top 25 markets, Seattle saw the largest year-over-year increases, with occupancy rising 19.3 percent to 60.1 percent and RevPAR increasing by 27.5 percent to $89.11.
asianhospitality

U.S. hotel performance up in second week of June with mixed YoY results - 0 views

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    U.S. HOTEL PERFORMANCE improved in the second week of June compared to the previous week, showing mixed year-over-year results, according to CoStar. All key metrics, including occupancy, RevPAR and ADR, increased compared to the prior week. Occupancy rose to 70.3 percent for the week ending June 15, up from 69.1 percent the previous week, despite a slight 0.6 percent year-over-year decrease. ADR increased to $161.70 from $160.90, a 0.9 percent rise compared to last year. RevPAR increased to $113.62 from $111.26 the previous week, marking a 0.3 percent increase compared to the same period in 2023. Among the top 25 markets, San Francisco recorded the highest year-over-year increases: occupancy rose 14.8 percent to 71.1 percent, ADR increased 11.3 percent to $226.70, and RevPAR grew 30.3 percent to $179.97. The market's performance was boosted by the Data + AI Summit.
asianhospitality

CoStar: U.S. hotels' weekly performance mixed, YOY up in fourth week of May - 0 views

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    U.S. HOTEL WEEKLY performance showed mixed results in the fourth week of May compared to the previous week but posted positive year-over-year comparisons, according to CoStar. Despite a slight uptick in occupancy, both ADR and RevPAR decreased week-on-week across all key metrics. Occupancy rose to 67.7 percent for the week ending May 25, up from 67.4 percent the prior week, reflecting a 1.6 percent year-over-year increase. ADR decreased to $160.67 from $163.11, yet still representing a 2.3 percent surge compared to last year. RevPAR stood at $108.73, a decline from the previous week's $109.93, but marking a 3.9 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the most significant year-over-year boosts in occupancy, soaring 20.9 percent to reach 74.1 percent, while RevPAR surged by 29.2 percent to $89.15. Las Vegas recorded the sole double-digit increase in ADR, climbing by 10.9 percent to $217.53.
asianhospitality

U.S. hotel performance improves in third week of May, YOY comparisons up - 0 views

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    U.S. HOTEL PERFORMANCE improved in the third week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key metrics, including occupancy, RevPAR, and ADR, all saw week-over-week increases. Occupancy increased to 67.4 percent for the week ending May 18, up from 66.1 percent the previous week, marking a 0.2 percent year-over-year rise. ADR rose to $163.11 from $162.14, reflecting a 2.6 percent jump compared to last year. RevPAR reached $109.93, up from $107.24 the prior week, showing a 2.8 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the only double-digit occupancy increase, rising 10.5 percent to 67.9 percent. Atlanta reported the highest year-over-year increases in ADR, rising by 10 percent to $137.30, while RevPAR increased by 18 percent to $98.86.
asianhospitality

U.S. Extended-Stay Hotels See Positive Growth in May 2024 - 0 views

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    U.S. EXTENDED-STAY HOTELS room supply increased by 3.2 percent in May, slightly above the average monthly rise over the past two years, according to The Highland Group. May marked the 32nd consecutive month with supply growth at 4 percent or less, and the annual supply increase has been under 2 percent for two years. However, both metrics remain well below the long-term average. The 12.8 percent increase in economy extended-stay supply, along with smaller gains in mid-price and upscale segments, is primarily due to conversions, the report said. New construction in the economy segment accounts for only about 3 percent of rooms opened compared to a year ago.
asianhospitality

CoStar: U.S. hotel performance declines in third week of January - 0 views

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    U.S. HOTEL PERFORMANCE declined in the third week of January compared to the previous week, according to CoStar. Despite this, year-over-year comparisons yielded mixed results. Metrics such as occupancy, ADR and RevPAR experienced a decrease during the week compared to the preceding period. Occupancy was 52.2 percent for the week ending Jan.20, a marginal decrease from the previous week's 53.3 percent, signaling a 3.8 percent year-over-year decline. ADR dropped to $142.27 from the prior week's $153.84, showing a 1.6 percent increase from the previous year. RevPAR decreased to $74.31 from the prior week's $81.96, reflecting a 2.2 percent decline compared to the corresponding period in 2023. Among the top 25 markets, Seattle experienced the largest year-over-year occupancy increase, rising by 9.6 percent to reach 54.1 percent.
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