STR: U.S. hotel ADR and RevPAR reached record highs in 2022
The U.S. hotel industry reported average daily rate (ADR) and revenue per available room (RevPAR) that were the highest for any year on record, according to 2022 data from STR.
U.S. hotel revenues, profits and labor costs reached record-highs in 2022
Total U.S. hotel revenues, profits and labor costs reached an all-time high, according to STR‘s P&L data for 2022. With more supply in the market, the key profitability metrics each came in lower than their pre-pandemic comparable on a per-available-room basis. ...
STR: Bogotá hotel industry reported highest RevPAR on record in March
Helped by an increase in business travel, Bogotá’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary March 2023 data from STR.
STR: Eid al-Fitr boosts hotel bookings in key Middle East markets
Key markets in the Middle East are showing a spike in hotel occupancy on the books during Eid al-Fitr, according to STR’s Forward STAR data.
Key Asia Pacific hotel markets surpassed 2019 profitability levels in March
Further supporting recovery around the region, a majority of Asia Pacific’s key hotel markets surpassed their 2019 levels in gross operating profit per available room (GOPPAR), according to STR’s March 2023 P&L data release.
STR: Expo lifted Dubai hotel rates to three-year high in October
Lifted by the opening of Expo 2020, Dubai’s hotel industry reported its highest monthly room rates since 2018, according to preliminary October 2021 data from STR.
STR: Berlin hotel occupancy declined in November amid latest COVID concerns
Amid rising COVID cases and subsequent restrictions, Berlin’s hotel industry reported lower occupancy but higher room rates, according to preliminary November 2021 data from STR.
Hotel construction down around the world, except in Asia Pacific region
Asia Pacific is the only world region showing increased hotel construction activity in comparison with the end of Q4 last year, according to December 2021 data from STR.
STR: Jeddah hotel industry reported slightly lower performance levels in January
Jeddah’s hotel industry reported slightly lower performance levels compared with the month prior, according to preliminary January 2022 data from STR.
STR: Canada hotel performance fell in January amid latest COVID concerns
Canada’s hotel industry reported lower monthly performance levels amid the latest pandemic concerns, according to STR’s January 2022 data.
Australian Grand Prix lifting Melbourne hotel bookings to 29-month high
This weekend’s Australian Grand Prix is lifting Melbourne’s hotel occupancy on the books to its highest level since November 2019, according to STR’s Forward STAR.
Decline continues in U.S. hotel construction, but planning activity is up
While a steady hotel construction decline continues nationally, volume in New York City and Nashville represents a significant percentage of those markets’ existing supply. Additionally, planning activity continues to rise nationally with markets like Miami, Phoenix ...