The Canadian hotel industry reported increases in all three key performance measurements during the week of 21-27 March 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy increased 3.1 percent to 59.2 percent. Average daily rate ended the week virtually flat with a 0.2-percent increase to CAD$120.75. Revenue per available room for the week went up 3.2 percent to CAD$71.46.
Europe’s real estate industry is cautiously picking itself up and surveying the road ahead. However, in this year’s Emerging Trends in Real Estate Europe survey hotels dropped from second place last year to twelfth place in 2010, to sit firmly at the bottom of the table. This article highlights the key issues.
The good news is that Canadian occupancy and average room rates for all hotels were higher than those in the United States in 2009. The Canadian occupancy was just over 56%, slightly higher than the 55% reported in the US, but more importantly our average room rate was $117.55 relative to $97.51 in the US. That's a $20 differential! The Canadian RevPAR was $65.95, down 11.9%, which compares to $53.71 in the US, down 16.7%. So 2009 was bad, but it was far worse south of the border.
The total active U.S. hotel development pipeline includes 3,647 projects comprising 378,145 rooms, according to the January 2010 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 35.9-percent decrease in the number of rooms in the total active pipeline compared to January 2009. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.
The U.S. hotel industry reported decreases in all three key performance metrics for fourth-quarter 2009 in year-over-year measurements, according to data from STR. The industry’s occupancy dropped 4.4 percent to 50.6 percent, average daily rate fell 7.6 percent to US$95.79, and revenue per available room decreased 11.7 percent to US$48.50.
The Central/South America hotel development pipeline includes 131 projects with 19,929 rooms, according to the November 2009 STR Global Construction Pipeline Report released this week.
The Asia/Pacific hotel development pipeline includes 975 hotels comprising 232,680 rooms, according to the November 2009 STR Global Construction Pipeline Report released this week.
The Europe hotel development pipeline includes 577 hotels comprising 97,266 rooms, according to the November 2009 STR Global Construction Pipeline Report released this week.
The Caribbean/Mexico hotel development pipeline includes 131 hotels comprising 18,291 rooms, according to the November 2009 STR Construction Pipeline Report released this week.
The Middle East/Africa hotel development pipeline includes 441 hotels comprising 119,560 rooms, according to the November 2009 STR Global Construction Pipeline Report released this week.
The total active U.S. hotel development pipeline includes 3,939 projects comprising 417,412 rooms, according to the November 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 33.9-percent decrease in the number of rooms in the total active pipeline compared to November 2008. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.
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The Central/South America hotel development pipeline includes 138 projects with 21,451 rooms, according to the October 2009 STR Global Construction Pipeline Report released this week.
The Europe hotel development pipeline includes 570 hotels comprising 93,163 rooms, according to the October 2009 STR Global Construction Pipeline Report released this week.
The Middle East/Africa hotel development pipeline includes 437 hotels comprising 120,682 rooms, according to the October 2009 STR Global Construction Pipeline Report released this week.
The Caribbean/Mexico hotel development pipeline includes 129 hotels comprising 18,715 rooms, according to the October 2009 STR Construction Pipeline Report released this week.
The Asia/Pacific hotel development pipeline includes 985 hotels comprising 235,931 rooms, according to the October 2009 STR Global Construction Pipeline Report released this week.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 1-7 November, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 9.6 percent to end the week at 59.1 percent. Average daily rate dropped 3.7 percent to finish the week at CAD$122.13. Revenue per available room for the week decreased 13.0 percent to finish at CAD$72.21.
The total active U.S. hotel development pipeline includes 4,089 projects comprising 435,265 rooms, according to the October 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 32.7-percent decrease in the number of rooms in the total active pipeline compared to October 2008. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre Planning stage.
The Europe hotel development pipeline includes 547 hotels comprising 89,205 rooms, according to the September 2009 STR Global Construction Pipeline Report released this week.