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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.

STONEHILL, A COMMERCIAL real estate direct lender and Peachtree Group affiliate, is now ranked as the 8th largest U.S. commercial real estate hotel lender by the Mortgage Bankers Association's 2022 loan originations rankings, a two-spot increase from its 2021 ranking. Stonehill deployed $1.2 billion in real estate investment, with $813 million for hotels in 2022, the company said in a statement. Meanwhile, Stonehill is also ranked as the 16th largest U.S. commercial real estate retail lender by MBA, having deployed $163 million in 2022, the statement added. "Our performance is a testament to our commitment to understanding our sponsors' business plans and accomplishing the transactions by having stable capital despite market turbulence," said Mat Crosswy, Stonehill's president and managing principal. Stonehill expanded its commercial lending business to originate and make investments across all real estate sectors by forming Stonehill CRE in 2022. This CRE group focuses on heavy transitional assets and sectors of the credit market that are traditionally undersupplied, the statement further said.

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.

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.

SPRING BREAK TRAVEL helped U.S. hotel performance to rise in the third week of March from the week before, according to STR. Occupancy for the week was the highest since the week ending Aug. 7, 2021, and ADR was the second highest on record. Occupancy was 66.9 percent for the week ending March 19, up from 63.2 percent the week before and down 3.7 percent for the same period in 2019. ADR was $151.63 for the week, up from $144.68 the week before and increased 13.6 percent from two years ago. RevPAR was $101.44 for the week, rose from $91.45 the week before and up 9.5 percent from the same period two years ago.

U.S. HOTEL PERFORMANCE was down in the first week of March from the week before, according to STR. However, ADR was up during the week compared to 2019. Occupancy was 61.2 percent for the week ending March 5, down from 62.2 percent the week before and down 8.2 percent for the same period in 2019. ADR was $137.96 for the week, decreased from $143.83 the week before and up 4.7 percent from two years ago. RevPAR was $84.39 for the week, down from $89.45 the week before and down 3.8 percent from the same period two years ago. None of STR's top 25 markets showed an occupancy increase during the period over 2019. Norfolk/Virginia Beach came closest to its 2019 comparable, down just 0.8 percent to 56.3 percent.

U.S. HOTEL PERFORMANCE was up in the second week of March from the week before, according to STR. ADR was up during the week compared to two years ago. Occupancy was 63.2 percent for the week ending March 12, up from 61.2 percent the week before and down 9.8 percent for the same period in 2019. ADR was $144.68 for the week, increased from $137.96 the week before and up7.7 percent from two years ago. RevPAR was $91.45 for the week, up from $84.39 the week before and down 2.8 percent from the same period two years ago. None of STR's top 25 markets showed an occupancy increase during the period when compared to two years ago. Miami came closest to its 2019 comparable, down 4.7 percent to 84.1 percent.

U.S. HOTEL OCCUPANCY has reached an all-time high in the fourth week of December though the numbers came in lower than the previous week, according to STR. Christmas Day occupancy was 47.2 percent, up from the previous high of 47 percent recorded in 2015. Occupancy was 44.3 percent for the week ended Dec. 25, down from 53.8 percent the week before, and down 8.7 percent when compared to 2019. ADR was $129.67 for the week, up from $121.87 the week before and an increase of 0.5 percent from 2019. RevPAR reached $57.46, down from $65.61 the week before, and dropped 8.3 percent from two years ago. According to STR, a steeper decline during the week from 2019 levels was due to the fact that Christmas fell on a Wednesday two years ago and allowed for an earlier return to non-holiday weekend levels that year. "While Omicron-related closures and service disruptions affected performance in New York City, overall U.S. occupancy was less impacted," STR said.

PROFITS ROSE IN October for U.S. hotels on a month-to-month basis, according to STR. However, the numbers are still down versus 2019, indicating a bump in the road to recovery. GOPPAR for the month was $62.75, according to STR's monthly P&L data release, up from $46.29 in September. TRevPAR for the month was $165.03, compared to $140.94 the month before, and EBITDA PAR was $44.14, up from $30.47 in September. At the same time, labor costs also rose from $47.50 the previous month to $52.17 inOctober. Estimated industrywide gross operating profit was 89 percent of October 2019 levels, after coming in at 97 percent in September. Labor costs reached 91 percent of pre-pandemic comparables in October after reaching a high of 96 percent in September. "October data was important to analyze from multiple angles," said Raquel Ortiz, STR's assistant director of financial performance. "The metrics were up quite a bit from September if you measure by available rooms, but that's to be expected as October is usually a stronger revenue month due to conferences and group travel. When you extrapolate and bring in the comparison to pre-pandemic times, performance was lower. Fortunately, even with less corporate business this year, profit margins (38 percent) still came relatively close to what we saw in 2019 (40.9 percent)."

U.S. HOTEL PERFORMANCE increased in the second week of December, according to STR. ADR was up during the week when compared to same period in 2019. Occupancy was 57.4 percent for the week ending Dec. 11, up from 54.8 percent the week before and down by 4.8 percent for the same period in 2019. ADR for the week was $128.35, up from $127.92 the week before and increased 2.3 percent when compared to two years ago. RevPAR increased to $73.73 during the week from $70.08 for the week before but dropped 2.7 percent for the same period in 2019. Among the Top 25 Markets, Norfolk/Virginia Beach saw the only occupancy increase among STR's top 25 markets during the week, up 4.2 percent to 55.2 percent over 2019. New York City reported the highest weekly occupancy level of any STR-defined U.S. market at 81.5 percent. However, its occupancy level was 13 percent lower than two years ago. Miami registered the largest ADR increase during the period, up 30.1 percent to $229.34, when compared to 2019.

THE UPWARD MOVEMENT of ADR for U.S. hotels lifted the forecast for the market by STR and Tourism Economics. The travel research firms released the new forecast during the opening sessions of the Americas Lodging Investment Summit in Los Angeles on Monday. The recovery timeline laid out in the new forecast remains mostly the same as the previous forecast released in November, with ADR will near full recovery this year. RevPAR is anticipated to exceed 2019 levels in 2023, but when adjusted for inflation ADR and RevPAR are not projected to reach full recovery until after 2025. Occupancy is projected to surpass 2019 levels in 2023. "The industry recaptured 83 percent of pre-pandemic RevPAR levels in 2021, and momentum is expected to pick up after a slow start to this year," said Carter Wilson, STR's senior vice president of consulting. "With so much of that RevPAR recovery being led by leisure-driven ADR, however, it is important to keep an eye on the real versus the nominal. Terms of recovery are not playing out evenly across the board, and many hoteliers have had to raise rates to minimize the bottom-line hit from labor and supply shortages. We are anticipating inflation to remain higher throughout the first half of the year with a gradual leveling off during the third and fourth quarters. If that happens, and we avoid major setbacks with the pandemic, this year will certainly be one to watch with demand and occupancy also shaping up to hit significant levels during the second half."

A STRONGER THAN expected performance by U.S. hotels in the fourth quarter of 2021 led CBRE Hotels Research to upgrade its forecast for the rest of 2022. CBRE now forecasts RevPAR will reach 2019 nominal levels by the third quarter of this year, one year earlier than the previous forecast. Occupancy is expected to rise 6.7 percent to 61.3 percent this year, then rise 5.2 percent to 64.4 percent in 2023. ADR is forecast to rise 10.1 percent to $133.94 in 2022 and go up 6 percent more to $141.99 in 2023. CBRE expects RevPAR to rise 17.5 percent in 2022 overall to $82.04 and then rise 11.5 percent to $91.46 in 2023. Positive trends, such as high employment and the return to the office for many workers who had been working from home contributed to the revised forecast, CBRE said. Other factors contributing to the improvement include below-average supply growth, strong domestic leisure trends, the resumption of inbound international travel and a predicted return to office later this year. However, ongoing inflation and geopolitical tensions connected to the war in Ukraine still threaten progress.

U.S. HOTEL OCCUPANCY increased in the first week of December, according to STR. But, all performance metrics were lower during the week when compared to same period in 2019. Occupancy was 54.8 percent for the week ending Dec. 4, up from 53 percent the week before and down from 8.8 percent for the same period in 2019. ADR for the week was $127.92, down from $128.41 the week before and decreased 0.5 percent when compared to two years ago. RevPAR increased to $70.08during the week from $68 for the week before but dropped 9.2 percent for the same period in 2019. According to the report, none of STR's top 25 markets recorded an occupancy increase over 2019, Only Los Angeles matched its 2019 comparable at 70 percent. Miami, lifted by Art Basel, reported the largest ADR increase when compared with 2019, up 32.9 percent to $373.71.