Skip to main content

Home/ Tours and travel/ Group items tagged STR-industry

Rss Feed Group items tagged

asianhospitality

May STR: U.S. hotels occupancy, ADR, RevPAR fall in second week - 0 views

  •  
    U.S. WEEKLY HOTEL performance posted mixed year-over-year comparisons, while occupancy, ADR, and RevPAR declined in the second week of May over the previous week, according to STR. Meanwhile, "worsened comparisons than the week prior were expected due to normal given seasonal slowing and the negative side of the Mother's Day calendar shift," STR said. Occupancy was 65.1 percent for the week ending May 13, declined from 65.2 percent the week before and down 2 percent over the comparable week in 2022. ADR stood at $154.90, down from $157.62, and increased 3.4 percent from 2022. RevPAR came in at $100.81 in the last week, declined from $102.74 the week before and increased 1.3 percent against the same period in 2022. Among the top 25 markets, Philadelphia registered the only double-digit increase in occupancy in the second week of the month, up 13.3 percent to 73.2 percent. ADR jumped 14.5 to $189.50, while RevPAR was up 29.7 percent to $138.80. Of note, New York City, 83.7 percent, was the only major market to report occupancy above 80 percent. That level was up 3.9 percent year-over-year.
asianhospitality

STR : U.S. hotel occupancy at second highest weekly level so far in 2023 - 0 views

  •  
    U.S. HOTEL PERFORMANCE increased from the previous week and showed improved comparisons year-over-year, according to STR. Meanwhile, U.S. occupancy reached the second highest level for any week this year. Occupancy came in at 67.5 percent for the week ending May 20, up from 65.1 percent the week before and down 1.5 percent over the comparable week in 2022. ADR was $158.53, up from $154.90 the previous week, and increased 3.6 percent from 2022. RevPAR stood at $106.98 in the recent week, jumped from $100.81 the week before and increased 2.1 percent against the same period in 2022. Among the top 25 markets, Washington, D.C., saw the highest year-over-year increases in each of the three key performance metrics: occupancy rose 9.3 percent to 83.2 percent, while ADR increased 16.2 percent to $220.58. RevPAR also rose 27 percent to $183.60. Furthermore, the weekly occupancy level was the highest in the market since the start of the pandemic, STR said.
asianhospitality

Baird/STR hotel stock index jumped 15.8 percent in October - 0 views

  •  
    THE BAIRD/STR Hotel Stock Index jumped 15.8 percent in October, according to STR. There were no signs of slowing as U.S. demand continued to strengthen during the month. The index decreased 8 percent year-to-date through the first ten months of 2022. The index fell 9.1 percent in September. In October, the index outgrew both the S&P 500, up 8 percent and the MSCI US REIT Index, increased 4.7 percent. The hotel brand sub-index increased 14.4 percent from September to 9,458, while the hotel REIT sub-index grew 20.6 percent to 1,193. "October was a strong rebound month for hotel stocks, and they recouped all their losses from the prior two months," said Michael Bellisario, senior hotel research analyst and director at Baird. "Importantly, both the global hotel brands and the hotel REITs were relative outperformers versus their respective benchmarks in October. As investors shifted their focus from broader macroeconomic uncertainties to sector-specific performance ahead of and through third-quarter earnings reports, hotels continued to screen favorably given still-strong underlying fundamentals and an intact post-pandemic recovery thesis."
asianhospitality

STR: U.S. hotel construction pipeline up in December first time since 2020 - 0 views

  •  
    U.S. HOTEL CONSTRUCTION increased slightly in December after 25 consecutive months of decline, according to STR. Projects in the later stages of development saw a reversal in their decline and luxury projects were up. There are 159,344 rooms in construction during the month, up 0.3 percent, over Dec. 2021. As many as 213,066 rooms are in the final planning state, an increase of 15 percent over last year. STR pipeline data added that 240,092 rooms are under planning, a decline of 15.6 percent. New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. The luxury and upscale segments would see the most supply. "While the overall pipeline continued to contract year over year, December showed strength in the later phases of development," said Alison Hoyt, STR's senior director of consulting. "Over the past year, we've seen late-stage pipeline rooms consistently decline from 2021 levels, while rooms in the planning phase often showed double-digit growth. We started to see a change in this pattern in November, when final planning rooms significantly jumped year over year and planning rooms came down pretty firmly. The same occurred in December, with the only difference being construction increasing slightly over 2021. When looking strictly at volume, the in-construction phase has been fairly stable throughout the year, remaining under 160,000 rooms and showing month-over-month increases from July through October and again in December."
asianhospitality

STR: U.S. hotels report weak performance in the first week of 2023 - 0 views

  •  
    U.S. HOTEL PERFORMANCE was down in the first week of 2023 compared to the week before mainly due to post-holiday seasonality and an unfavorable calendar shift, according to STR. Performance metrics for the week was down compared to same period in 2019 as it was a full business week. Occupancy was 47.2 percent for the week ending Jan. 7, down from 54.2 percent the week before and decreased 11.5 percent from 2019. ADR was $142.82 during the week, decreased from $167.21 the week before and up 11.2 percent from three years ago. RevPAR reached $67.40 in the first week of 2023, dipped from $90.63 the week before and down 1.5 percent from 2019. Orlando was the only STR top 25 market to report an occupancy increase, 2 percent to 71.3 percent, over 2019.
asianhospitality

STR: U.S. hotel pipeline up in September for third month - 0 views

  •  
    THE U.S. HOTEL construction pipeline ticked up in September for the third consecutive month, according to STR. Also, year-over-year declines have been lessening each month since May. In STR's pipeline, 156,861 rooms were in construction during the month, down 8.9 percent from the same time last year. Another 173,932 rooms were in final planning, down 15.5 percent, and 282,225 rooms were planning, up 7 percent. New York City, Phoenix and Nashville are set to see the largest supply percentage increases from current construction, according to STR. Among the chain scales, the luxury and upscale segments led in that measurement.
asianhospitality

STR: Hotel performance in week of Oct. 1 drops due to Rosh Hashanah - 0 views

  •  
    U.S. HOTEL PERFORMANCE dropped in the fifth week of September as expected with the Rosh Hashanah holiday, according to STR. ADR and RevPAR were up during the week when compared to 2019, but occupancy was down. Occupancy was 66.4 percent for the week ending Oct. 1, down from 70 percent the week before and decreased 2.4 percent from 2019. ADR was $149.71 for the week, dropped from $157.99 the week before and increased 15.7 percent from three years ago. RevPAR reached $99.36 during the week, down from $110.60 the week before and up 12.9 percent from 2019. According to STR, there was demand shifts in the southeast region due to Hurricane Ian besides the Rosh Hashanah impact on business travel and groups.
asianhospitality

STR: U.S. hotel performance dips in the first week of July in holiday trend - 0 views

  •  
    U.S. HOTEL PERFORMANCE dipped in the first week of July when compared to the week before mainly due to decline in demand on account of the Independence Day holiday, according to STR. STR predicted that occupancy and demand are likely to fall again for a week before strengthening in the remaining weeks of July. Occupancy in the week before the holiday fell by more than four percentage points with most of the losses beginning on Wednesday and continuing into the weekend. Since 2000, the fourth of July holiday has fallen on a Monday seven times, including in 2021 and in 2016. Occupancy was 67.3 percent for the week ending July 2, down from 72.3 percent the week before and dropped 2.9 percent from 2019. ADR was $153.32 for the week, declined from $157.05 the week before and increased 19.7 percent from three years ago. RevPAR reached $103.24 during the week down from $113.55 the week before and up 23.1 percent from 2019.
asianhospitality

STR: U.S. hotel profitability above 2019 levels in May - 0 views

  •  
    THE PROFITABILITY OF U.S. hotels was above 2019 level for the third consecutive month in May, but was lower compared to April, according to STR. The GOPPAR and EBITDA PAR levels were down in May compared to the month before. GOPPAR was $88.63 for the month, down from $90.96 reported in April. In March, GOPPAR stood at $83.81. EBITDA PAR was $67.80 for May, TRevPAR was $219.58 and labor costs per room were $66.27. "After the top-line metrics showed mixed results in May, it wasn't a surprise that the bottom-line metrics came in a bit lower," said Raquel Ortiz, director of financial performance, STR. "Regardless, each of the four key P&L metrics showed improvement when indexed to 2019, with GOPPAR and EBITDA PAR coming in higher than May 2019 levels. We continue to keep a close eye on F&B as group demand levels rise. F&B revenues are gradually moving closer to 2019 levels, but catering and banquet revenues continue to lag."
asianhospitality

STR : U.S. hotel performance bounces back in the third week of July - 0 views

  •  
    U.S. HOTEL PERFORMANCE bounced back in the third week of July after two consecutive weeks of lower demand due to the Independence Day holiday, according to STR. Occupancy was 72 percent for the week ending July 16, up from 63.3 percent the week before and dropped 7.4 percent from 2019. ADR was $157.23 for the week, up from $153.71 the week before and increased 14.9 percent from three years ago. RevPAR reached $113.28 during the week, up from $97.37 the week before and increased 6.4 percent from 2019. San Diego reported the only occupancy increase among STR's top 25 markets during the week, up 1 percent to 89.9 percent, over 2019. According to STR, San Diego (89.9 percent), Oahu Island (87.2 percent) and Seattle (85.8 percent) led the major markets in absolute occupancy. Miami posted the largest ADR gain, up 29.9 percent to $204.15, over three years ago. Only San Francisco reported an ADR decrease, down 4.1 percent to $229.24, compared to 2019.
asianhospitality

STR: U.S. hotels' RevPAR at weekly high in the second week of June - 0 views

  •  
    THE REVPAR OF U.S. hotels reached an all-time weekly high on a nominal basis in the second week of June as performance jumped, according to STR. The ADR and occupancy levels were the second and third highest of the pandemic-era, respectively, during the week. Occupancy was 70.6 percent for the week ending June 11, up from 63.2 percent the week before and dropped 4.1 percent from 2019. ADR was $155.37 for the week, up from $147.35 the week before and increased 15.4 percent from three years ago. RevPAR reached $109.76 during the week, up from $93.16 the week before and up 10.7 percent from 2019. According to STR, the top 25 markets posted their highest metrics since the beginning of the pandemic in aggregate during June's second week. Leading the major markets in absolute occupancy for the week were Seattle with 85.2 percent, San Francisco/San Mateo with 84.3 percent and New York with 85.1 percent.
asianhospitality

STR: U.S. hotel performance drops in the third week of December - 0 views

  •  
    U.S. HOTEL PERFORMANCE decreased in the third week of December compared to the week before, according to STR. However, performance metrics improved when compared to 2019 in part because of a favorable calendar shift. According to STR, the corresponding week in 2019 ended on 21 December, which brought performance down lower for that period. Occupancy was 54.5 percent for the week ending Dec. 17, down from 59.6 percent the week before and an increase of 9.2 percent from 2019. ADR was $135.08 during the week, dropped from $144.79 the week before and up 23.7 percent from three years ago. RevPAR reached $73.65 during the week, down from $86.29 the week before and up 35.1 percent from 2019.
asianhospitality

STR: U.S. hotels end 2022 with improved weekly performance - 0 views

  •  
    U.S. HOTEL PERFORMANCE improved in the final week of 2022 compared to the week before due to favorable side of a holiday calendar shift, according to STR. When compared to the same period in 2019 performance also increased in the last week of December. According to STR, the comparable week in 2019 covered Dec. 29 to Jan. 4. Occupancy was 54.2 percent for the week ending Dec. 31, up from 43.9 percent the week before and increased 10.4 percent from 2019. ADR was $167.21 during the week, a steep increase from $132.29 the week before and up 21.7 percent from three years ago. RevPAR reached $90.63 in the final week of December, rose from $58.04 the week before and up 34.3 percent from 2019.
asianhospitality

STR Predict For U.S. Hotels To Be Full Recovery This Year - 0 views

  •  
    THE U.S. HOTEL industry is on track to full recovery from the COVID-19 pandemic, according to STR's latest industry forecast. Progress may be uneven, however, as some obstacles, such as labor costs, still remain. ADR will near full recovery in 2022, averaging $130 while occupancy for the year is predicted to reach 63.4 percent. RevPAR's average for the year is set to be $82,down 4 percent compared to 2019, but it is expected to be fully recovered in 2023, according to the forecast given at the 43rd Annual NYU International Hospitality Industry Investment Conference. STR and Tourism Economics said changes in the nation's economy warranted the new forecast. "We have essentially moved up the top-line recovery timeline by one year, with the caveat that improved RevPAR projections are largely due to ADR," said Amanda Hite, STR's president. "ADR has risen more rapidly than we expected-in some cases, that rise was due to strong demand confronting capacity constraints, which enabled solid revenue management, while in other cases, the rise was more influenced by inflation. When adjusted for inflation, RevPAR is further off the pace and will likely remain below 2019 levels until at least 2025. Other than the first quarter of 2021, demand has mostly adhered to the forecast with strong leisure travel, slowly improving group business and an expected progressive increase in international arrivals next year. Of course, these are all national projections of top-line performance. Recovery is not playing out the same across the marketplace, and as noted in our latest monthly P&L release, the cost of labor is adding pressure on the bottom line, which is a contributing factor to many hotels driving rate. Recovery is progressing at a solid rate no doubt, but there will still be plenty of ups and downs along the way."
asianhospitality

AirDNA: Economic stability expected to fuel growth for U.S. short-term rentals in 2024 - 0 views

  •  
    A STABLE ECONOMIC backdrop is expected to fuel a 10.7 percent year-over-year increase in the U.S. short-term rental industry in 2024, surpassing the 6.7 percent rise seen in 2023, according to AirDNA's 2024 outlook report. Moreover, AirDNA foresees balanced growth for the industry in 2024, marked by a projected 10.9 percent increase in supply expansion guided by rising demand for more sustainable market practices. "Approaching 2024, the industry anticipates balanced growth with a projected 10.9 percent increase in supply expansion," said Jamie Lane, senior vice president of Analytics at AirDNA. "Contrary to exaggerated reports of an STR 'collapse,' heightened market competition emphasizes the need for hosts and property managers to meticulously monitor data trends. This strategic approach is crucial for surpassing competitors and sustaining revenue, taking advantage of a strong economy and the growing preference of travelers for STR lodging."
asianhospitality

STR, TE forecast RevPAR, ADR to surpass pre-pandemic levels in 2022 - 0 views

  •  
    THE REVPAR OF U.S. hotels is expected to surpass 2019 levels this year, according to the upgraded forecast by STR and Tourism Economics. Still, full recovery may be a couple of years away. ADR and RevPAR for U.S. hotels are forecasted at $14 and $6 higher in 2022 respectively, when compared to 2019, the report presented at the 44th annual NYU International Hospitality Industry Investment Conference stated. However, occupancy in this year is projected to come in under the pre-pandemic comparable. Earlier, the forecast projected nominal RevPAR recovery in 2023. According to the forecast, the major factor in the revised timeline was a plus $11 adjustment in 2022 ADR. But, when adjusted for inflation, full recovery of ADR and RevPAR are not projected until 2024. The report added that central business districts and the top 25 markets are not expected to reach full RevPAR recovery until after 2024.
asianhospitality

STR: U.S. hotel performance drops as expected in the second week of July - 0 views

  •  
    U.S. HOTEL PERFORMANCE dropped in the second week of July, as expected due to a holiday calendar shift, according to STR. The performance was skewed downward due to a comparison with a non-holiday week in 2019. STR said that performance is expected to improve for the remaining weeks of July after two consecutive weeks of lower demand around the Independence Day holiday. Occupancy was 63.3 percent for the week ending July 9, down from 67.3 percent the week before and dropped 14.5 percent from 2019. ADR was $153.71 for the week, slightly up from $153.32 the week before and increased 15.7 percent from three years ago. RevPAR reached $97.37 during the week down from $103.24 the week before and down 1.1 percent from 2019.
asianhospitality

Higher interest rates push Baird/STR index down 2 pc in Sep - 0 views

  •  
    THE BAIRD/STR HOTEL Stock Index dropped 2 percent to 5,739 in September, influenced by higher interest rates impacting stock prices and investor sentiment, according to STR, although the hotel stocks outperformed their relative benchmark. That is the second month of decline in the index following a surge in July. "Hotel stocks declined in September, yet they exceeded their relative benchmarks," said Michael Bellisario, senior hotel research analyst and director at Baird. "Both the S&P 500 and the RMZ recorded their poorest monthly performance this year due to elevated interest rates affecting stock prices and investor sentiment. Hotels likely gained from sustained, albeit gradual, RevPAR growth throughout the month. Year-to-date, the hotel brand sub-index stands at 23 percent, whereas the Hotel REIT sub-index lags at negative 1.5 percent."
asianhospitality

STR: February ADR for U.S. hotels highest since August 2021 - 0 views

  •  
    ADR FOR U.S. hotels was the highest in February for any month since August 2021, according to STR. The U.S. hotel industry reported higher performance during the month from the month before. Occupancy was 56.9 percent for February, up from 47.8 percent in January and down 8.2 percent compared to same period in 2019. ADR was $137.39 for the month, increased from $123.51 the prior month and up 6.8 percent from the same month two years ago. RevPAR was $78.24, up from $58.98 in January and down 1.9 percent from two years ago. The February ADR level was roughly 5 percent below the 2019 level when adjusted for inflation, the report said.
asianhospitality

Reports: Recovery will continue in 2023 despite possible downturn - 0 views

  •  
    THE HOTEL INDUSTRY is poised for a fairly strong year in 2023 despite remaining concerns about a downturn, according to a pair of reports. Continuing demand is expected to overcome extra labor costs and economic vagaries to propel performance above pre-pandemic levels, according to the reports from the American Hotel & Lodging Association and STR. The state of the industry AHLA's 2023 State of the Hotel Industry Report projects that demand, nominal room revenue and state and local tax revenue all are well on the way to recovery. Operational challenges, such as staffing shortages and economic factors will replace COVID as hoteliers' top concerns, the report predicts. "Three years after the unprecedented hardships our industry faced due to the pandemic, hotels continue to make significant strides toward recovery," said Chip Rogers, AHLA president and CEO. "2022 saw one of the strongest summer travel seasons ever, and this year we expect hotels to reach new heights in terms of room revenue, room-night demand and state and local tax revenue. But when inflation is taken into account, our industry likely won't see full recovery for several more years. Nevertheless, hotel performance is trending in the right direction - great news for our industry and our employees, who are enjoying better pay, more career opportunities, upward mobility and flexibility than ever before."
‹ Previous 21 - 40 of 109 Next › Last »
Showing 20 items per page