STR: London hotel RevPAR highest since October 2022

London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022, according to preliminary May 2023 data from STR. May 2023 (year-over-year % change) Occupancy: 80.5% (+3.5%) Average daily rate (ADR): GBP204.52 (+18.9%) Revenue per available room (RevPAR): GBP164.54 (+23.1%) May was the first month this year with the market’s ADR above GBP200. […]

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Europe’s key hotel markets showed improved profitability in February

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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STR: U.S. hotel construction up year over year for first time since late 2020

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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STR: London hotel performance remained steady in December

London hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the 2019 comparable for an eighth consecutive month, according to preliminary December 2022 data from STR.   Occupancy: 76.8% Average daily rate (ADR): GBP206.87 Revenue per available room (RevPAR): GBP158.89 London’s ADR and RevPAR levels were up 31.0% and 25.1%, […]

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STR & TE maintain ADR and RevPAR forecast in the last U.S. hotel forecast revision of 2022

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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STR: Riyadh hotels reported higher occupancy in June

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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Europe’s key hotel markets show improved profitability but remain well below pre-pandemic levels

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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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 […]

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STR: U.K. leading Europe in hotel occupancy recovery

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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