This week’s Europe webinar by STR focused on projections for this year and beyond, in which joined David Goodger, Managing Director, Europe and Middle East – Tourism Economics. The economic impact and likely recovery The immediate economic impact in H1 2020 will be worse than at any point during the global financial crisis, but a […]
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The U.S. hotel industry recorded 214,704 rooms under construction in March 2020, the highest end-of-month total ever reported by STR. The industry’s previous construction peak occurred in December 2007 with 211,694 hotel rooms in construction. That level was slightly surpassed in February 2020 at 211,859 rooms in the final phase of the development pipeline. “The number of […]
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Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 5-11 April 2020, according to data from STR. In comparison with the week of 7-13 April 2019, the industry recorded the following: Occupancy: -69.8% to 21.0% Average daily rate (ADR): […]
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Reflecting on the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 29 March through 4 April 2020, according to data from STR. In comparison with the week of 31 March through 6 April 2019, the industry recorded the following: Occupancy: […]
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Mainland China’s daily hotel occupancy reached an absolute level of 31.8% on 28 March, up from a low of 7.4% during the first week of February, according to preliminary data from STR. Additionally, opening rates have been significant in key markets across the region. “We’re seeing green shoots in hotel occupancy figures, but we must stress that […]
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Due to the impact from the COVID-19 pandemic, the U.S. hotel industry is projected to report a 50.6% decline in revenue per available room (RevPAR) in 2020, according to a special forecast revision from STR and Tourism Economics. “The industry was already set for a non-growth year, now throw in this ultimate ‘black swan’ event, and we’re set […]
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As the COVID-19 situation in France has worsened, the country’s daily hotel occupancy plummeted to as low as 3.3% on 17 March, according to preliminary data from STR and In Extenso TCH. Daily occupancy in the country was as high as 65.3% on 26 February and had been positioned above 30% through 12 March. However, […]
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Europe’s hotel industry reported mostly negative results in the three key performance metrics during February 2020, according to data from STR. Euro constant currency, February 2020 vs. February 2019 Occupancy: -1.8% to 63.6% Average daily rate (ADR): +1.2% to EUR101.68 Revenue per available room (RevPAR): -0.6% to EUR64.68 February’s data had not yet shown the […]
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In its final month before feeling the impact of the COVID-19 pandemic, the U.S. hotel industry reported positive results in the three key performance metrics during February 2020, according to data from STR. In a year-over-year comparison with February 2019, the industry posted the following: Occupancy: +0.2% to 62.2% Average daily rate (ADR): +1.4% to US$130.78 […]
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Over the last week, Italy has become a focal point of the COVID-19 outbreak. The hotel performance impact has been significant when examining preliminary data for regions of the country. Performance declines are more pronounced in Italy in comparison with other countries due to the significant measures being taken by the government to combat the […]
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