STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022. Revenue per available room (RevPAR) remains on track for full recovery this year on a nominal basis but not until 2025 when adjusted […]
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Riyadh’s hotel industry reported higher occupancy than the month prior, but lower room rates, according to preliminary June 2022 data from STR. According to STR data: • The occupancy rate was: 56.5% • Average daily rate (ADR): SAR580.61 • Revenue per available room (RevPAR): SAR328.17 While ADR and RevPAR fell month over month, each of […]
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The hotel industries in Amsterdam, Berlin, London, Moscow and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to STR‘s August 2021 monthly P&L data release. Building on its launch in the U.S., STR now features monthly P&L data reporting in Europe, the Middle East, Asia Pacific, and the Americas (excluding […]
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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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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 […]
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The U.K. continues to lead Europe in hotel occupancy with four straight weeks above 60% in the metric, according to STR data through 18 July. “Demand is almost exclusively leisure-driven as the U.K. has benefitted from a successful vaccination program, a phased reopening and improved travel sentiment overall,” said Thomas Emanuel, STR’s Director. “Other countries […]
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STR ’s Tourism Consumer Insights team has been keeping a close eye on traveler and tourism trends as the industry moves through the most optimistic point of the pandemic. The twists and turns of the COVID-19 pandemic have contributed to seismic changes in tourism. These include the cessation of international travel for some countries, and, […]
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Reflecting a post-summer lag in demand, Europe’s hotel industry reported slight performance decreases from the prior month, according to September 2020 data from STR. Euro constant currency, September 2020 (percentage change from September 2019) Occupancy: 38.9% (-51.7%) Average daily rate (ADR): EUR90.78 (-27.2%) Revenue per available room (RevPAR): EUR35.31 (-64.8%) Each of the three key […]
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Reflecting early reopening around the continent, Europe’s hotel industry reported improved performance from May but at an all-time low level for a June, according to data from STR. Euro constant currency, June 2020 vs. June 2019 Occupancy: -72.8% to 21.6% Average daily rate (ADR): -34.8% to EUR83.69 Revenue per available room (RevPAR): -82.3% to EUR18.11 The […]
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STR’s preliminary data for London hotels showed record performance lows. Comparison with June 2019: Occupancy: -74.4% to 23.0% Average daily rate (ADR): -59.2% to GBP72.48 Revenue per available room (RevPAR): -89.6% to GBP16.64 The absolute levels in each of the three metrics would be the lowest for any month on record in STR’s London database. […]
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