STR and Tourism Economics Forecast U.S. hotel demand and ADR will near full recovery in 2022

U.S. hotel demand as well as average daily rate (ADR) on a nominal basis will near full recovery in 2022, according to the upgraded forecast just released by STR and Tourism Economics at the 43rd Annual NYU International Hospitality Industry Investment Conference. Additionally, revenue per available room (RevPAR) on a nominal basis is projected to […]

Continue Reading

U.S. hotel profit reached 84% of 2019 level, labor rises slightly

Gross operating profit for U.S. hotels improved to 84% of the comparable 2019 level, according to STR‘s June 2021 monthly P&L data release. Labor costs also rose from the previous month and in comparison with 2019.          Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February […]

Continue Reading
hilton

Hotels Count the Cost of COVID-19 Pandemic and Look to Remodel Business to Rebuild Consumer Confidence

With much of Europe’s hotel sector still closed for business, the industry faces a huge challenge to rebuild consumer confidence once COVID-19 lockdown restrictions start to lift later this year. Providing hotel businesses survive financially – utilising a combination of rent and bank loan freezes, Government support, working with owners and furloughing staff – they […]

Continue Reading
gb

Temporary suspension of operation of hotel GRANDE BRETAGNE and KING GEORGE hotel, due to corona virus

It is with great regret at this point of time, but with even greater optimism for the future, that Lampsa Hellenic Hotels SA  announces the temporary pause in operations due to the global Corona virus pandemic, of the Iconic Hotel Grande Bretagne and its sister hotel the historic King George.  The Hotel Grande Bretagne, the […]

Continue Reading
hilton china

China hotel performance recovered quickly following SARS

Amid the current outbreak of coronavirus (COVID-19), STR analyzed historical data for China and found that the country’s hotel performance recovered quickly following the containment of SARS in 2003. Recovery around the current outbreak situation of 2020 could follow a similar timeline. “Significant market, economic and social changes over the past two decades render a […]

Continue Reading
GERMANY

STR: Europe hotel construction up 29.4% in January

STR’s hotel pipeline data for Europe showed 1,654 projects accounting for 210,075 rooms in construction as of the end of January 2020. This represented a 29.4% year-over-year increase in the number of rooms in the final phase of the development pipeline. A majority of the region’s rooms in construction are in three segments. Of those […]

Continue Reading
money tourism photo

STR: Europe hotel performance for November 2019

Europe’s hotel industry reported positive results in the three key performance metrics during November 2019, according to data from STR. Euro constant currency, November 2019 vs. November 2018 Europe Occupancy: +1.5% to 72.2% Average daily rate (ADR): +1.9% to EUR106.71 Revenue per available room (RevPAR): +3.4% to EUR77.08 Market Focus, Local currency Baku, Azerbaijan Occupancy: +21.4% […]

Continue Reading
str

STR: Europe hotel performance for Q3 2019

Europe’s hotel industry reported positive results across the three key performance metrics during Q3 2019, according to data from STR. Euro constant currency, Q3 2019 vs. Q3 2018 Europe Occupancy: +0.6% to 79.1% Average daily rate (ADR): +1.1% to EUR121.36 Revenue per available room (RevPAR): +1.7% to EUR95.95 Local currency, Q3 2019 vs. Q3 2018 […]

Continue Reading
mitsis

The 7th Annual Destination Wedding Planners Congress all set to be hosted in Mitsis Alila Resort & Spa, Greece

The world’s largest business platform for the destination wedding industry is all set to host its 2020 annual in Rhodes, Greece. For the next annual, the luxurious Mitsis Alila Resort & Spa located in the sunny island of Rhodes, Greece won the bid to be the official hosts for the 7th Annual Destination Wedding Planners […]

Continue Reading