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Baird/STR Index up 10.5 percent in December, ends year with 38.4 percent gain - 0 views

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    THE BAIRD/STR Hotel Stock Index rose 10.5 percent to 6,760 in December, according to STR. Moreover, the stock index closed the year with a 38.4 percent gain in 2023, driven by a favorable interest rate outlook boosting investor sentiment and valuation multiples. "Hotel stocks - like the broader market - finished 2023 on a high note as the 'soft landing' narrative and lower interest rate outlook continued to boost investor sentiment and valuation multiples," said Michael Bellisario, senior hotel research analyst and director at Baird. "Both the hotel brands and hotel REITs were up more than 10 percent in December and outperformed their respective benchmarks. For the year, the hotel REITs' 19 percent gain more than doubled the return of real estate stocks broadly, while the hotel brands' 44 percent increase nearly doubled the performance of the S&P 500." The U.S. hotel industry closed the year on a strong note, said Amanda Hite, president of STR.
asianhospitality

STR: U.S. hotel performance breaks Thanksgiving week record - 0 views

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    U.S. HOTELS HIT a new Thanksgiving holiday performance record in the fourth week of November, according to STR. All performance metrics were up during the week when compared to same period in 2019. Occupancy was 53 percent for the week ending Nov. 27, down from 59.7 percent for the week before and an increase of 4.6 percent from the same Thanksgiving period two years ago. ADR for the week was $128.41, up from $126.66 the week before and increased 14.3 percent when compared to two years ago. RevPAR decreased to $68 for the week from $75.60 the week before but increased 19.6 percent for the same period in 2019. Among STR's top 25 markets, Dallas saw the largest occupancy increase during the fourth week, up 12.2 percent to 54.8 percent, over the same period two years ago. Phoenix reported the largest ADR increase when compared to 2019, up 35.1 percent to $143.30. Oahu Island experienced the steepest occupancy decline, down 25.3 percent to 58.5 percent over 2019.
asianhospitality

CoStar: Thanksgiving boosts YOY hotel performance in week ending Nov. 23 - 0 views

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    THE THANKSGIVING CALENDAR shift boosted year-over-year performance comparisons for the U.S. hotel industry during the third week of November, according to CoStar. However, occupancy, RevPAR and ADR all declined from the prior week. Seattle led performance gains among the top 25 markets. Occupancy declined to 59.7 percent for the week ending Nov. 23, down from 63.3 percent the previous week but up 20.7 percent year-over-year. ADR fell to $150.49 from $154.96, marking an 8.6 percent year-over-year increase. RevPAR reached $89.80, down from $98.11 the prior week but up 31.1 percent compared to the same period in 2023. Among the top 25 markets, Seattle posted the highest year-over-year occupancy gain, up 62.9 percent to 76.7 percent. Chicago saw the largest increases in ADR, up 43.8 percent to $181.36, and RevPAR, which jumped 113.7 percent to $127.91.
asianhospitality

STR: Thanksgiving drags U.S. hotel performance in the 4th week of Nov. - 0 views

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    U.S. HOTEL PERFORMANCE was down in the fourth week of November compared to the week before due to the Thanksgiving holiday, according to STR. However, hotel performance was mixed when compared to same period in 2019. Occupancy was 50.4 percent for the week ending Nov. 26, down from 63 percent the week before and decreased 0.5 percent from 2019. ADR was $135.49 during the week, down from $144.50 the week before and up 20.4 percent from three years ago. RevPAR reached $68.27 during the week, down from $91.02 the week before and up 19.9 percent from 2019. Minneapolis reported the largest occupancy increase among STR's top 25 markets, up 7.6 percent to 42 percent, over 2019.
asianhospitality

Thanksgiving 2024 Hotel Performance: CoStar Report Highlights ADR & RevPAR Trends - 0 views

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    THE SHIFT IN the Thanksgiving calendar led to lower year-over-year performance for the U.S. hotel industry in the fourth week of November, according to CoStar. Occupancy, RevPAR and ADR all declined compared to the prior week. Tampa and Oahu saw the strongest performance improvements among the top 25 markets. Occupancy dropped to 50 percent for the week ending Nov. 30, down from 59.7 percent the previous week and 7.7 percent lower year-over-year. ADR fell to $141.09, down from $150.49 the prior week and 3 percent lower than the same week last year. RevPAR decreased to $70.59 from $89.80, reflecting a 10.5 percent drop compared to the same period in 2023.
asianhospitality

Hotel Performance Dips as Hanukkah Shifts Timing - CoStar Report - 0 views

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    U.S. HOTEL PERFORMANCE declined in the third week of December compared to the previous week, according to CoStar. However, year-over-year comparisons were positive due to the Hanukkah calendar shift and a shortened business travel period between Thanksgiving and Christmas. Occupancy, RevPAR and ADR all saw week-over-week decreases. Occupancy fell to 48.9 percent for the week ending Dec. 21, down from 59.5 percent the previous week but up 11.4 percent year-over-year. ADR declined to $135.79 from $155.21, reflecting a 2.7 percent year-over-year increase. RevPAR dropped to $66.36 from $92.32 week-over-week but showed a 14.3 percent gain compared to the same period in 2023. Tampa, driven partly by hurricane recovery demand, led year-over-year growth among the top 25 markets, with occupancy up 37.9 percent to 71.5 percent and RevPAR up 63.8 percent to $110.51. New York City recorded the highest ADR increase, up 20.1 percent to $351.39.
asianhospitality

U.S. Hotels Weekly Metrics Show Mixed Performance | December I2024 nsights - 0 views

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    U.S. HOTEL PERFORMANCE showed mixed results in the second week of December compared to the previous week, according to CoStar. However, the industry reported positive year-over-year growth across key metrics, driven by the Hanukkah calendar shift and a shorter business travel window between Thanksgiving and Christmas. Occupancy rose to 59.5 percent for the week ending Dec. 14, up from 59 percent the previous week and 8.5 percent higher year-over-year. ADR dropped to $155.21 from $159.77 the prior week but was up 8.9 percent compared to the same week last year. RevPAR fell to $92.32 from $94.31, yet showed an 18.2 percent year-over-year increase. Among the top 25 markets, Tampa recorded the highest year-over-year occupancy growth, rising 33.3 percent to 84.7 percent. New York City reported the largest ADR increase, up 30.1 percent to $510.13.
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