Profitability in Asia Pacific hotel markets well below pre-pandemic levels
The hotel industries in seven key Asia Pacific markets reported profitability levels well below pre-pandemic levels, with only Beijing above 40% of the 2019 comparable, according to STR‘s September 2021 monthly P&L data release.
STR: Abu Dhabi hotel occupancy reached pandemic-era high in November
Abu Dhabi’s hotel industry reported its highest monthly occupancy level since the beginning of the pandemic, according to preliminary November 2021 data from STR.
STR: Paris leads Europe in New Year’s hotel booking levels
Lifted by the upcoming holiday season, hotel occupancy on the books is rising in Paris with a peak of more than 70% on New Year’s Eve, according to STR’s Forward STAR.
U.S. hotel construction ends year down 61,000 rooms from peak
The number of U.S. hotel rooms in construction is down roughly 61,000 from the country’s all-time high achieved in early 2020, according to December 2021 pipeline data from STR.
STR: Middle East hotel RevPAR recovery highest among global regions
The Middle East hotel industry reported revenue per available room (RevPAR) that was 85.6% of the pre-pandemic comparable, the highest among the global regions, according to year-end 2021 data from STR.
U.S. hotel profits reached 52% of pre-pandemic level in 2021
Gross operating profit for U.S. hotels reached 52% of the comparable 2019 level, according to STR‘s full-year 2021 P&L data release.
STR: Sydney hotel occupancy stable in February amid COVID concerns
Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR.
U.S. hotel profitability back on the rise after Omicron-induced dip
All of the key performance metrics increased from January, after concerns around Omicron pushed levels lower.
India hotel occupancy and ADR top pre-pandemic levels in mid-April
Amid continued recovery from the Omicron wave, India’s hotel industry eclipsed pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive days during the second week of April, according to preliminary data from STR.
STR: Olympics lifted Tokyo hotel occupancy to 17-month high
As host to the delayed summer Olympics, Tokyo posted its highest hotel occupancy in 17 months and saw a pair of days with levels that approached the peak of the “Go To Travel” campaign in 2020, according to data and analysis from STR.
STR: Europe set for record number of new hotel rooms
The number of hotel openings in Europe is expected to hit an all-time high in 2021, with more than 100,00 new rooms estimated for the year, according to STR data and analysis that will be presented at this week’s International Hospitality Investment Forum (IHIF) in B...
Labor costs brought U.S. hotel profitability down further in September
Increased spending on labor created lower gross operating profit for U.S. hotels, according to STR‘s September 2021 monthly P&L data release.