Europe’s key hotel markets reported month-over-month improvement in gross operating profit per available room (GOPPAR), according to STR‘s February 2023 P&L data release. London’s February GOPPAR reached US$65.55, which was 83% of the pre-pandemic comparable. In January, the market reported GOPPAR at US$42.06, which was 65% of the 2019 level. Amsterdam followed with a GOPPAR of […]
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After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR. At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement. U.S. […]
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Midway through 2022, the hotel industry continues to make strides toward recovery, with nominal hotel room revenue and state and local tax revenues projected to exceed 2019 levels by the end of this year, according to the American Hotel & Lodging Association (AHLA)’s 2022 Midyear State of the Hotel Industry Report. Hotel room revenue in […]
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After experiencing steady year-over-year growth in project totals from 2014 to 2020, Europe’s hotel construction pipeline has been declining since Q2 2020, according to Lodging Econometrics, due to development and opening delays, project cancellations and challenges like COVID-19. At the end of 4Q21, Europe’s pipeline fell slightly lower than 2019’s year-end totals at 1,824 projects […]
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Demand, measured by the number of listing nights stayed over the previous month, was just 8.3% below that of October 2019 (+48.9% over 2020). This is a substantial improvement from September, when demand was 25% lower than in 2019, and the highest percent change since the start of the pandemic, according to AirDNA. Average daily […]
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The number of hotel openings in Europe is expected to hit an all-time high in 2021, with more than 100,000 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 Berlin. More than 50,000 rooms have opened thus far in […]
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