STR, Inc., the global leader of competitive benchmarking, information services and research for the hotel industry, has begun collecting development activity in the self storage industry.
STR Sector Analysis, LLC and the International Health, Racquet & Sportsclub Association announced they have entered into a strategic partnership to gather, analyze and market data and information about the health club sector in the U.S.
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European hotels reported performance gains in the first quarter of 2017 when compared to Q1 2016. Occupancy rose 4.1% to 63.5%, ADR increased 2.3% to €100.94 ($109.59) and RevPAR jumped 6.5% to €64.06 ($69.55).
Hotels in the Middle East reported year-over-year performance declines in the first quarter of 2017. Occupancy fell 1.4% to 70.5%, ADR dropped 6.8% to $173.06 and RevPAR decreased 8.2% to $122.07. It was a different story in Africa, where hotels saw occupancy increase 5% to 56%, ADR increase 9.8% to $111.15 and RevPAR increase 15.3% to $62.19 in Q1 2017.
The Central/South America region's hotels reported year-over-year performance declines in the first quarter of 2017. Occupancy fell 1.6% to 55.3%, ADR dropped 6.1% to $101.60 and RevPAR decreased 7.6% to $56.16.
In the first quarter of 2017, hotels in the Asia/Pacific region reported mostly year-over-year performance increases. Occupancy increased 3.3% to 68.3%, ADR was nearly flat (-0.3% to $104) and RevPAR jumped 3% to $71.04.
In the first quarter of 2017, the U.S. hotel industry reported occupancy increased 0.9% to 61.1%, ADR rose 2.5% to $124.27 and RevPAR jumped 3.4% to $75.92.
The U.S. hotel industry reported negative performance during the week of 9-15 April. Occupancy decreased 4.6% to 64.3%, ADR decreased 0.2% to $123.41 and RevPAR dropped 4.8% to $79.33.
For the week of 9-15 April 2017, the Canadian hotel industry saw occupancy fall 6.8% to 56%, ADR was mostly flat (+0.1% to CA$138.54 ($102.74)), and RevPAR decreased 6.7% to CA$77.60 ($57.55).
In March, the U.S. hotel industry saw occupancy increase 2.6% to 68%, ADR increase 2.4% to $127.79 and RevPAR increase 5.1% to $86.93.
Hotels in Phoenix reported a $25.9-million revenue increase during the weekend the city hosted the NCAA men's basketball Final Four, which surpassed the revenue increases reported by each of the previous five host markets.
Dubai's hotels saw a 2.7% occupancy increase in the first quarter of 2017 despite sustained supply growth.
During the week of 2-8 April, U.S. hotels saw occupancy increase 3% to 70.2%, ADR climb 3.7% to $127.89 and RevPAR increase 6.8% to $89.84.
The Canadian hotel industry reported positive performance during the week ending 8 April. Occupancy rose 5.6% to 63.7%, ADR increased 3.6% to CA$143.30 ($108.28) and RevPAR jumped 9.4% to CA$91.25 ($68.95).
According to STR's March 2017 pipeline report, the Asia/Pacific region confirmed 583,054 rooms in 2,611 hotel projects under contract during the month, which is a 1.6% decrease compared to the same month in 2016.
The Central/South America region reported 60,284 rooms in 385 hotel projects under contract in March 2017, including 27,421 rooms in 170 projects in construction for the month.
The Caribbean/Mexico region reported 38,668 rooms in 212 hotel projects under contract during March 2017, according to STR's pipeline report, which is a 25.9% year-over-year increase in under contract rooms.
The Baird/STR Hotel Stock Index was up 3.3% in March 2017 and closed the month at 3,876.
The United States reported 571,311 rooms in 4,721 hotel projects under contract in March 2017, according to STR's pipeline report. The rooms total is a 14.4% increase over the same month in 2016.
A total of 162,732 rooms in 1,035 hotel projects were reported under contract in March 2017, according to STR's pipeline report for the region. The number of under contract rooms is a 0.7% decrease when compared to the same month in 2016.
The Middle East region reported 153,298 rooms in 546 projects under contract in March 2017, while Africa reported 59,200 rooms in 319 projects under contract for the month.
London's hotels reported positive performance in March, according to preliminary data from STR. Occupancy increased 5.7% to 80.5%, ADR increased 8% to £140.65 ($174.42) and RevPAR rose 14.2% to £113.27 ($140.47).