More global hotel markets growing RevPAR
More than three quarters of hotel markets increased RevPAR year over year. Rate growth in Asia was prominent, with Japan’s ADR growing more than 30% and Singapore reaping the benefits of Taylor Swift’s Eras Tour.
STR Weekly Insights: 10-16 March 2024
United States: (Anaheim, Atlanta, Las Vegas, Naples, New Orleans, New York City, Phoenix, San Francisco, Seattle, and Washington, D.C.; Global: Indonesia, Mexico (Mexican Caribbean, Yucatan/Campeche) and Spain (Canary Islands, Madrid, Mediterranean Coast).
U.S. hotel commentary - February 2024
February produced modest RevPAR growth, reflecting the continued return to low single-digit gains.
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.
Industry experts’ predictions for occupancy and ADR hold steady, even with declining confidence in demand
Based on their experiences and expectations as travel industry professionals, our global community shared their perspectives on demand segments, short- to long-term business confidence, and more in recent results from our Hospitality Industry Sentiment (HIS) survey. ...
STR Weekly Insights: 21-27 April 2024
Countries (markets) mentioned: United States: Detroit, Miami, Philadelphia, Seattle, Tampa; Global: Australia (Adelaide, South Australia), Indonesia, United Kingdom (Aberdeen, Cardiff)