Group items matching

in title, tags, annotations or url

U.S. HOTEL PERFORMANCE dipped in the fourth week of March compared to the previous week but showed positive year-over-year comparisons, according to CoStar. Across all key metrics-occupancy, ADR, and RevPAR-there was a decline in this period compared to the preceding week. Occupancy dropped to 65.3 percent for the week ending March 23, down from the previous week's 66.5 percent, with a 0.7 percent year-over-year increase. ADR decreased to $162.28 from the previous week's $163.21, showing a 2.5 percent climb compared to last year. RevPAR was $106.01, down from the previous week's $108.51, indicating a 3.2 percent increase compared to the same period in 2023. Among the top 25 markets, New Orleans saw the highest year-over-year occupancy increase, rising 13.6 percent to 75.5 percent.

U.S. HOTEL PERFORMANCE improved in the second week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key metrics such as occupancy, RevPAR, and ADR all increased week-over-week. Occupancy rose to 66.1 percent for the week ending May 11, up from 64.4 percent the previous week, representing a 2.1 percent year-over-year increase. ADR increased to $162.14 from $159.97, a 4.4 percent rise compared to last year. RevPAR reached $107.24, up from $103.09 the prior week, showing a 6.6 percent increase compared to the same period in 2023. Among the top 25 markets, San Francisco reported the highest year-over-year increases in each of the three key performance metrics: occupancy increased by 20.6 percent to 79.3 percent, ADR rose by 54.5 percent to $313.13, and RevPAR increased by 86.3 percent to $248.28. The market's performance was boosted by the RSA Conference.

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.

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.

U.S. HOTEL PERFORMANCE improved in the first week of June compared to the previous week, with mixed year-over-year results, according to CoStar. All key metrics, including occupancy, RevPAR, and ADR, rose compared to the prior week. Occupancy rose to 69.1 percent for the week ending June 8, up from 62 percent the previous week, with a slight 0.1 percent year-over-year decrease. ADR increased to $160.90 from $150.87, showing a 1.8 percent rise compared to last year. RevPAR increased to $111.26 from the previous week's $93.50, marking a 1.7 percent increase compared to the same period in 2023. Among the top 25 markets, Houston saw the highest year-over-year increases in occupancy, rising 14.8 percent to 71.1 percent, and in RevPAR, increasing 19.3 percent to $85.20. New York City recorded the largest increase in ADR, rising 9.1 percent to $358.25.

THE U.S. HOTEL industry showed improved performance in May compared to the same month last year, according to CoStar. All three performance metrics-occupancy, ADR, and RevPAR-increased year-over-year. The top 25 markets reported higher occupancy and ADR than all other markets. Occupancy increased to 65.7 percent in May, up from 65.2 percent in April, and increased by 1.5 percent compared to May 2023. ADR climbed to $160.40 from $157.31 the previous month, a 2.4 percent rise from 2023. RevPAR reached $105.46, up from $102.51 the preceding month, reflecting a 4 percent increase from May of the previous year. Among the top 25 markets, New York City led in all three key performance metrics: occupancy rose 5.8 percent to 88.9 percent, ADR increased 6.3 percent to $339.25, and RevPAR climbed 12.5 percent to $301.57. Markets with the lowest occupancy for the month included Detroit at 46.1 percent and Chicago at 49.4 percent.

U.S. HOTEL PERFORMANCE persisted in its downward trend during the last week of August, influenced by seasonal patterns in contrast to the previous week, according to CoStar. However, year-on-year comparisons improved while Maui Island, Hawaii, still recovering from deadly wildfires, showed signs of recovery. Occupancy came in at 65 percent for the week ending Aug. 26, down from the previous week's 67 percent, but it showed a 0.4 percent increase compared to 2022. ADR stood at $150.23, a decrease from the previous week's $154.10, though it displayed a 1.7 percent growth compared to the same period last year. RevPAR was $97.62, below the prior week's $103.22, yet it still indicated a 2.1 percent rise from 2022. Among the top 25 markets, Las Vegas achieved the largest year-over-year occupancy increase as August ended, rising by 7.9 percent to reach 76.3 percent. Houston achieved the highest ADR at $112.08, with a 10.5 percent increase, and the highest RevPAR at $64.45, reflecting a 17.8 percent increase.

U.S. HOTEL PERFORMANCE has increased in the second week of September compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed. Occupancy stood at 68.5 percent for the week ending on Oct. 14, a slight uptick from the previous week's 67.8 percent, and a marginal year-over-year decline of 2.3 percent. ADR increased to $164.25, up from the previous week's $163.19, marking a 3.2 percent surge compared to the previous year. RevPAR also showed improvement, reaching $112.51, surpassing the previous week's $110.68, and reflecting a 0.8 percent rise from 2022. Among the top 25 markets, Oahu Island experienced the highest year-over-year growth in occupancy, rising by 17.8 percent to reach 85.2 percent, while RevPAR increased by 29.7 percent to $243.22.

U.S. hotel performance has declined in the fourth week of October compared to the previous week, according to CoStar. However, year-over-year comparisons revealed positive results. Occupancy came in at 66 percent for the week ending Oct. 28, slightly lower than the previous week's 69 percent, but with year-over-year growth of 0.7 percent. ADR dropped to $160.89, down from the previous week's $165.32, yet showing a notable 3.9 percent increase from the previous year. Similarly, RevPAR saw a decrease, reaching $106.16 compared to the previous week's $114.04, but reflecting a solid 4.6 percent rise from 2022. Among the top 25 markets, Minneapolis saw the largest year-over-year increase in occupancy, rising by 12.7 percent to reach 64.5 percent.

U.S. HOTEL PERFORMANCE dropped in the first week of January from the prior week, although year-over-year comparisons showed improvement, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all declined at the start of the New Year compared to the previous week. Occupancy was 46.8 percent for the week ending Jan. 6, down from the previous week's 50.1 percent and reflecting a 0.7 percent year-over-year decrease. ADR fell to $152.17, compared to the prior week's $163.58, showing a 7.2 percent increase from the previous year. RevPAR decreased to $71.28 from the prior week's $82.1, but rose 6.4 percent from the corresponding period in 2023. Among the top 25 markets, New Orleans saw the largest year-over-year increases in each of the three performance metrics. Its occupancy was up 36.5 percent to 61.2 percent, ADR was up 43.5 percent to $211.90 and RevPAR rose 95.9 percent to $129.62. The market's performance was boosted by the Sugar Bowl, FAN EXPO New Orleans and multiple Mardi Gras parades.

U.S. HOTEL REVENUES and profitability saw an increase in 2023 compared to 2022, with improvements in group business across the top 25 markets and upper-scale chains, according to STR's 2023 P&L data. Overall, 14 of the top 25 markets reported double-digit increases in GOPPAR. "Total industry revenues and profits were well beyond 2022 levels as pricing power continued to outweigh the impact of softer leisure demand," said Claudia Alvarado Cruz, senior analytics manager at STR. "A lift in corporate demand made improvements especially notable across the upper-upscale brands and major markets. New York City was the shining example with 47 percent growth in GOPPAR." In 2023, GOPPAR reached $75.83, marking an 8.2 percent increase from 2022. TRevPAR stood at $211.49, indicating a 9.6 percent rise, while EBITDA PAR amounted to $53.05, up 7.6 percent from the prior year. Labor costs notably increased, reaching $71.56, reflecting a 13.2 percent rise.

U.S. HOTEL PERFORMANCE showed improvement in the second week of January compared to the previous week, with mixed year-over-year comparisons, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, saw moderate increases during the week compared to the New Year's commencement. The performance was influenced by the Consumer Electronics Show. Occupancy came in at 53.3 percent for the week ending Jan. 13, up from the previous week's 46.8 percent and reflecting a 2.8 percent year-over-year decrease. ADR rose to $153.84, compared to the prior week's $152.17, showing a 6.3 percent increase from the previous year. RevPAR increased to $81.96 from the prior week's $71.28, showing a 3.3 percent rise from the corresponding period in 2023. Among the top 25 markets, Las Vegas demonstrated the largest year-over-year increases in each of the three performance metrics. Occupancy increased by 29 percent to reach 79.8 percent, ADR rose by 77.3 percent to $283.74, and RevPAR increased by 128.8 percent to $226.34.

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.

U.S. HOTEL PERFORMANCE during the second week of September increased from the previous week, according to CoStar. Yearly comparisons also were mostly up. Occupancy was 67.7 percent for the week ending Sept. 16, up from 60.3 percent the week before but down 2.2 percent from the same time last year. ADR was $161.15 for the week, up from $150.66 the previous week and up 2.3 percent from the previous year. RevPAR for the week was $109.07, up from $90.86 weekly and up 0.1 percent from 2022. Among the top 25 markets, Oahu Island, Hawaii, saw the largest year-over-year occupancy increase, up 7.4 percent to 83.6 percent. San Francisco saw the highest jumps in ADR, up 39.7 percent to $345.78, and RevPAR, which rose 33.9 percent to $271.19, due in part to attendance of Dreamforce 2023.

HOSPITAITY FIRM OYO Rooms has filed fresh documents with India's stock market regulator, Securities and Exchange Board of India, for an Initial Public Offering in early next year, media reports said. The company filed fresh financial documents on Sept. 19 and is now targeting an IPO in January 2023, according to CoStar. OYO filed preliminary IPO documents in 2021, only to shelve the listing plan earlier this year after the prolonged pandemic hurt its growth and forced the company to cut thousands of jobs. The latest financial documents showed narrower losses and a rebound in sales for the year through March 2022 and in the three months to June 2022.

U.S. HOTEL PERFORMANCE saw a decline in the last week of September compared to the previous week, as expected, according to CoStar. However, there was an improvement in year-over-year comparisons, particularly in occupancy due to a favorable Rosh Hashanah calendar shift. Occupancy stood at 66.7 percent for the week ending Sept.30, marking a slight decrease from the preceding week's 68.5 percent, and a 0.8 percent year-over-year rise. ADR was $157.89, down from the prior week's $164.97, but showed a 4.6 percent increase compared to the previous year. RevPAR also experienced a drop to $105.31, compared to the previous week's $112.96, yet still represented a 5.4 percent rise from 2022.

EXTENDED-STAY HOTELS OUTPEFORMED the broader hotel industry across all performance metrics in October, marking a notably strong month for the sector, according to The Highland Group. Extended-stay supply outpaced demand, leading to a decrease in occupancy. However, the decline was less pronounced than the overall hotel industry, where STR/CoStar reported a drop in demand compared to the previous year. Furthermore, the metrics of extended-stay hotels, including ADR, RevPAR, and revenues, demonstrated stronger growth compared to their counterparts in the broader hotel industry, The Highland Group said. The 2.2 percent net rise in extended-stay room supply in October, consistent with September, represents a modest increase compared to the average over the past 16 months. However, October marked the 25th consecutive month of 4 percent or less supply growth, significantly below the long-term average. The 12 percent surge in economy extended-stay supply, coupled with a reduction in mid-price segment rooms, primarily results from conversions, as new construction in the economy segment is estimated at around 2 percent of rooms compared to a year ago, the report added.

U.S. HOTEL REVENUE and profitability saw a rise in October, propelled by increased group demand across the top 25 markets, according to CoStar's October 2023 Profit & Loss data. Meanwhile, the U.S. hospitality industry also witnessed its largest year-over-year increases in GOPPAR and TRevPAR since March 2023. In October, GOPPAR reached $97.45, marking a 3.7 percent increase from the same month in 2022. TRevPAR stood at $240.74, indicating a 4 percent increase, whereas EBITDA PAR amounted to $69.60, down 1.2 percent from September 2022. Labor costs notably rose to $74.48, reflecting a 5.9 percent increase. "The top 25 markets have demonstrated an 11 percent year-to-date increase in GOPPAR, surpassing a 14 percent rise in labor costs," said Audrey Kallman, research analyst at STR. "This double-digit GOPPAR growth is over 10 times the level observed in all other markets. New York City, a prominent business-centric market, spearheaded growth in the metric across major markets both on a year-to-date and monthly basis."

U.S. HOTEL PERFORMANCE increased at the beginning of December as expected, compared to the last week of November, according to CoStar. Hotel occupancy, ADR, and RevPAR improved compared to the previous week. Occupancy increased to 54.2 percent for the week ending Dec. 2, up from the prior week's 49.4 percent, reflecting a year-over-year decrease of 1.6 percent. ADR rose to $144.88, compared to the previous week's $138.29, showing a 0.8percent uptick from the prior year. RevPAR also rose to $78.54, compared to the prior week's $68.32, marking a 0.8 percent decrease from the corresponding period in 2022. Among the top 25 markets, New York City saw the largest year-over-year increases in occupancy, rising by 6.8 percent to 83.5 percent, and RevPAR surged by 17.2 percent to $319.18. Las Vegas recorded the highest ADR increase, rising by 11.2 percent to $232.94.

U.S. HOTEL PERFORMANCE saw a significant increase in the first week of December compared to the previous week, with improvements in hotel occupancy, ADR and RevPAR, according to CoStar. Year-over-year results also reflected positive trends. Occupancy rose to 58.7 percent for the week ending Dec. 9, up from the previous week's 54.2 percent, reflecting a year-over-year decrease of 1.1 percent. ADR increased to $153.36, compared to the previous week's $144.88, showing a 4.5 percent uptick from the prior year. RevPAR also soared to $89.98, compared to the prior week's $78.54, indicating a 3.3 percent decrease from the corresponding period in 2022. Among the top 25 markets, Boston saw the largest year-over-year occupancy increase, surging by 4.1 percent to 72.7 percent. Helped by Miami Art Week and Art Basel, Miami reported significant increases in ADR, soaring 48.8 percent to $314.55, and RevPAR, jumping 67 percent to $262.16.