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STR: US hotel profits hit all-time high
U.S. hotel industrywide house profit reached $80 billion in 2018 even as labor costs increased at a higher rate than revenues.
What’s next for Kuala Lumpur in five points:
Kuala Lumpur has reported hotel supply growth of 13.3% since 2014, moving the market’s total inventory to 178 hotels and close to 44,000 rooms. Demand, on the other hand, has lagged in comparison with average growth of 2.2% across the same period.
STR, MAH partner to advance data benchmarking for Malaysian hotels
STR, a global data benchmarking and analytics specialist, has partnered with the Malaysian Association of Hotels (MAH), a national hotel association that represents the industry with more than a thousand members throughout the country.
STR Weekly Insights: 31 March – 6 April and preliminary March 2024
Countries (markets) mentioned: United States: Cleveland, Des Moines, Indianapolis, Phoenix, Philadelphia; Global: Mexico.
2024 solar eclipse drove hotel performance records across markets in path of totality
The total solar eclipse on Monday, 8 April may have darkened cities across Mexico, the U.S., and Canada, but you may want to grab your eclipse glasses once again in preparation for how much the event brightened performance.
STR Weekly Insights: 7-13 April 2024
Countries (markets) mentioned: United States: Phoenix, Philadelphia, Dallas, Cleveland, Augusta; Global: China, Canada (Montreal, Toronto), Germany, Mexico.
Fewer global markets recording RevPAR growth, Japan a big exception
Less hotel markets increased RevPAR year over year, while currency depreciation is driving growth in Japan.
Earlier Ramadan and Eid al-Fitr celebrations had positive impact on Dubai hotel performance
The month of Ramadan combined with the Easter holiday weekend and a peak tourist season in the United Arab Emirates, drove Dubai hotels to see positive performance during this time period.
STR Weekly Insights: 14-20 April 2024
Countries (markets) mentioned: United States: Augusta, GA; Buffalo, NY; Dallas, Gatlinburg, TN; Indianapolis, New York City, Philadelphia, St. Louis, and Washington, D.C.; Global: Indonesia, Italy (Sardinia, Venice), Spain (Canary Islands, Mediterranean Coast), Unite...
U.S. hotel commentary - March 2024
Revenue per available room (RevPAR) fell 2.2% year over year (YoY) in March, marking the first such decline since February 2021.