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The American Hotel & Lodging Association (AHLA) today released "AHLA's State of the Hotel Industry 2021" outlining the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry's recovery, the specific impact on and eventual return of business travel, and consumer travel sentiments.
U.S. weekly hotel occupancy climbed back to the 40% mark, according to STR's latest data through 16 January. 10-16 January 2021 (percentage change from comparable week in 2020):
The Global Business Travel Association (GBTA), the world's largest business travel association, has released the results from its 15thcoronavirus poll, the first in 2021, to measure the impact on business travel following the onset of the pandemic last year.
Year-end U.S. data shows that less traveled markets have generally made more progress in regaining hotel demand. In fact, a majority of states ended 2020 with room demand levels approaching normal, seasonal lows.
The U.S. hotel industry showed performance levels closer to earlier months of the pandemic, according to December 2020 data from STR.
The U.S. hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR. In addition to historically low absolute levels in the aforementioned metrics, average daily rate (ADR) came in lower than any year since 2011.
Travel restrictions are affecting Germans' summer vacation plans - Domestic tourism not impacted as severely by the pandemic - Technological innovations, personalised travel services and the current .
Despite continuing lockdowns, Europeans are progressively interested in trips during the second quarter of 2021 as COVID-19 vaccines are rolled out. That is according to the latest report from the European Travel Commission (ETC) "Monitoring Sentiment for Domestic and Intra-European Travel - Wave 4" featuring data collected in December 2020.
The latest edition of the Pulse Report, which tracks activity in the month of December, shows that the majority of markets are continuing to feel serious effects of continued uncertainty amongst bookers due to rapid rises in COVID cases across the globe.
Boston's occupancy levels have been generally stable and well above their 20-year average since 2011. The year-end 2019 level of 75.6% was meaningfully higher than the longer-term average of 70.2%. RevPAR increased at an average annual rate of less than 0.
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December U.S. monthly meetings and events volume decreased 39 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues.
Dubai's hotel industry reported its highest performance levels since the start of the pandemic, according to preliminary December 2020 data from STR.
STR's preliminary December 2020 data for London hotels showed slightly higher performance levels compared with the previous month. Year-over-year declines remained significant.
Melbourne's hotel industry reported its highest performance levels since early in the pandemic, according to preliminary December 2020 data from STR.
U.S. hotel profitability fell back to levels seen during earlier months of the pandemic, and year-over-year declines worsened from the previous month, according to STR's November monthly P&L data release.
STR data for 20-26 December 2020 showed Canada's hotel industry with lower occupancy compared to the previous week.
U.S. weekly hotel occupancy fell to its lowest level since early May, according to STR's latest data for the week of Christmas.
As a fresh round of stricter COVID-related guidelines grip many parts of the world heading into the new year, the hotel industry is still feeling and reeling from the sting of the pandemic, though breakthrough vaccines could be the antidote to spur devitalized demand.
In April 2020, as part of the significant economic damage caused by COVID-19, hotel average daily rate (ADR) in China, Europe, and the United States dropped 40% below pre-pandemic levels. Since that point, rates in all three regions have improved, but hotels in China are much closer to reaching pre-pandemic ADR.
The Central/South America hotel industry reported its highest performance levels since the beginning of the pandemic, according to November 2020 data from STR.
The Asia Pacific hotel industry reported nearly flat performance levels compared with the previous month, according to November 2020 data from STR.
The U.S. hotel industry showed lower performance from the month prior, according to November 2020 data from STR.
In an ever-changing environment, how can the hospitality industry transform, adapt and build for the future of travel? A deep understanding of motivations and behaviors is crucial to predicting how consumers and corporations will view lifestyle pursuits and experiences in the years to come.
When the pandemic sent global economies into decline, it clinched the end to a decade-long bull run in commercial real estate markets.
International arrivals fell by 72% over the first ten months of 2020, with restrictions on travel, low consumer confidence and a global struggle to contain the COVID-19 virus, all contributing to the worst year on record in the history of tourism.
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, Metro Seattle occupancy fell roughly seven points from 68.
Hotels Remain Pressured by COVID-19.
The Boutique Lifestyle Leaders Association (BLLA), continues to meet its goal of providing clarity to the boutique hotel industry through research and surveys. This 8th annual Boutique Hotel Sentiment Survey included questions relating to operational changes addressing COVID-19 as well as having a shorter questionnaire, factoring in the industry's intense challenges this year.
The recent surge in COVID-19 infections has dampened expectations for U.S. hotel performance through the first half of 2021, but news of effective vaccines has bolstered projections of U.S. lodging industry recovery beginning in earnest during the second half of next year, according to CBRE's latest hotel forecast.
STR's preliminary November 2020 data for London hotels showed lower levels compared with previous months.
Sydney's hotel industry reported mostly flat performance compared with the previous month, according to preliminary November 2020 data from STR.
November U.S. monthly meetings and events volume increased 15 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues.
MMGY Global has released the latest findings of its Travel Intentions Pulse Survey (TIPS) and Travel Safety Barometer, with data answering questions about how Americans feel about travel amid news of effective vaccines and COVID-19 cases rising sharply in the U.
U.S. weekly hotel occupancy increased slightly from the previous week, according to the latest data from STR through 5 December.29 November through 5 December 2020 (percentage change from comparable .
July to September of 2020, defined by some as the summer of the staycation, was a period of relative freedom during which travelers around the world were able to resume leisure trips dependent on local restrictions and personal choices.
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The Baird/STR Hotel Stock Index was up 31.0% in November to a level of 4,354. Year to date through the first 11 months of 2020, the stock index was down 17.4%. "Election clarity and several positive vaccine updates caused a sharp reversal in investor expectations and led to significant outperformance for hotel stocks during November," said Michael Bellisario, senior hotel research analyst and director at Baird.
U.S. weekly hotel occupancy fell to its lowest level since late May, according to the latest data from STR through 28 November. 22-28 November 2020 (percentage change from comparable week in 2019):
ITB Berlin publishes new results of the second COVID-19 study of IPK international - Germans were very satisfied with their outbound travel experiences in times of Corona - Increase in travel intenti.
The Mexican Market Report provides an insight of the current state of the Mexican economy, the tourism sector, and the evolution of variables that have a tangible influence on the hotel investment market amidst the COVID-19 pandemic.
U.S. hotel profitability hit double figures for the first time since February, and year-over-year comparisons improved slightly from the previous month, according to STR's October monthly P&L data release.
IdeaWorksCompany, the foremost consultant on ancillary revenue, and CarTrawler, the leading provider of online car rental distribution systems, project airline ancillary revenue will drop to $58.2 billion worldwide in 2020, compared to $109.
Continued political uncertainty leading up to the presidential inauguration, the speed of the business traveler's return after a vaccine, and the length and severity of a resurgence of the virus in Q4 and into 2021 are impacting lodging's recovery in the US.
In the five months since the Second Australian Hotel Sentiment Survey in mid-May 2020, the COVID-19 pandemic has continued to severely impact on the hospitality industry across the globe and at home.
Hotel insolvencies caused by the pandemic are likely to increase through 2021 according to experts speaking at a global webinar held 24 November organized by HVS, AlixPartners, Bird & Bird and EP Magazine.
The U.S. in October shed the ignominy of being the only global region to have not recorded a positive month of profitability since the start of the COVID-19 pandemic. The country finally reached gross operating profit per available room (GOPPAR) above $0, but at $5.
U.S. weekly hotel occupancy continued to slip further from previous weeks, according to the latest data from STR through 21 November. 15-21 November 2020 (percentage change from comparable week in 20.
Despite registering a weak uptick for the second consecutive quarter, the Deloitte consumer confidence index continued to trend at record low levels in Q3 2020. The index gained one percentage point quarter on quarter, to -16%, as the partial reopening of the hospitality sector helped to brighten the mood of consumers during the summer months.
Total U.S. Hotel Demand across all rate categories has dipped through the beginning of November. Increases in cases across the country and corresponding impact on both consumer/traveler confidence and tangible social/travel restrictions will continue to temper demand.
With the pandemic driving people to spend more time at home, avoid air travel, and change their spending habits, businesses can expect to see a shift of more than US$3 trillion in economic value, according to Accenture (NYSE: ACN).
According to the latest published Construction Pipeline Trend Report for the Middle East, analysts at Lodging Econometrics (LE) state at the end of the third quarter of 2020, the hotel construction pipeline in the Middle East declined again to 579 projects/168,042 rooms.
The Asia Pacific hotel industry reported its best performance levels since the first quarter of the year, according to October 2020 data from STR.
Hotels in both the Middle East and Africa recorded their highest absolute occupancy level since February, according to October 2020 data from STR.
Reflecting the impact of a second lockdown, Europe's hotel industry reported slight performance decreases from the prior month, according to October 2020 data from STR.Euro constant currency, October.
First and foremost, we are delighted to welcome aboard our new first mate in producing the Monitor series, HotStats — the global navigators of hotel performance data. In an operating environment marked by depressed revenue and expense structure fluidity, charting the top line just doesn't cut it.
U.S. weekly hotel occupancy slipped further from previous weeks, according to the latest data from STR through 14 November. 8-14 November 2020 (percentage change from comparable week in 2019):
Tripadvisor®, the world's largest travel platform, and Phocuswright, the leader in global travel market research, today jointly released the findings of a comprehensive new research paper into the shifting trends in global travel demand and traveler behaviors, charting the industry's road to recovery in the wake of the ongoing pandemic.
The U.S. hotel industry showed slightly lower performance from the month prior, according to October 2020 data from STR.
October U.S. monthly meetings and events volume showed growth of 53.6 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues.
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.
Click here to download the full report
With leisure demand stronger than anticipated in the fall, STR and Tourism Economics slightly upgraded the final 2020 U.S. hotel forecast just released during the virtual NYU Hospitality Conference. Regardless of the short-term upgrade, the forecast for 2021 remains functionally unchanged and full recovery in revenue per available room (RevPAR) is unlikely until 2024.
Reflecting the impact of a second lockdown, Melbourne showed continued lower hotel performance in October 2020, according to preliminary data from STR.Year-over-year declines remained significant. Co.
Jeddah's hotel industry reported mixed performance in comparison with recent months, according to preliminary October 2020 data from STR. Year-over-year declines in the key performance metrics remain.
STR's preliminary October 2020 data for London hotels showed relatively flat occupancy compared with the previous month. Year-over-year declines remained significant. Comparison with October 2019:
The latest edition of Duetto's Pulse Report, which tracks data from October 19 to November 1, shows a slowdown in web traffic, pick up and pace across most markets, with Europe suffering consequences of an increase in COVID cases and a second lockdown in several countries.
Madrid - The swift reopening of hotels during the third quarter, with 75% of the portfolio open as of the end of September enabled NH Hotel Group to capture domestic demand across its key European destinations in the third quarter, so that revenue climbed from €30 million in the second quarter to €148 million in the third quarter.
Extended Stay America, Inc. and ESH Hospitality, Inc. (NASDAQ:STAY) (together, the "Company") today announced consolidated results for the three and nine months ended September 30, 2020.
Thailand's leading resort island Phuket has come face-to-face with the reality that it is tourism high-season will not see a marked reopening to overseas travelers. In the wake of the dismantling of the 'Phuket Model' and refocus by the government on using Bangkok as a single international gateway, there is increasing alarm over the lack of a path forward for the island's rice bowl-tourism.
Marriott International, Inc. (NASDAQ: MAR) today reported third quarter 2020 results, which were dramatically impacted by the COVID-19 global pandemic and efforts to contain it (COVID-19).
"The first nine months of 2020 confirm the terrible impact of the COVID-19 pandemic on the travel industry and highlight the correctness of our response to the crisis, with a focus on activating the drivers of our resilience and improving our competitiveness and efficiency.
Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE: PK) today announced results for the third quarter ended September 30, 2020 and an operational update on COVID-19.
Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three and nine months ended September 30, 2020.
The Indian Hotels Company Limited (IHCL), South Asia's largest hospitality company, reported its Consolidated and Standalone financials for the second quarter ending September 30th, 2020.
Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported third-quarter 2020 financial results. Net loss attributable to Hyatt was $161 million, or $1.59 per diluted share, in the third quarter of 2020, compared to net income attributable to Hyatt of $296 million, or $2.
Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its third quarter 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic has had on Hilton's business.
Direct channels, led by Property Direct, have been the main drivers for the muted 2020 recovery. OTA bookings have picked up some steam and widened the gap to Voice and Brand.com. GDS and Group continue to suffer the most--more than 80% down YoY.
Even though major economies across the Asia-Pacific (APAC) started negotiating travel bubble pacts with their key source countries to revive the tourism sector, recovery to pre-COVID-19 pandemic levels may take time even after all restrictions are withdrawn, says GlobalData, a leading data and analytics company.
The U.S. hotel industry reported a third consecutive month with single-digit profitability, but improvements in year-over-year comparisons stalled, according to STR's September monthly P&L data release.
Scandic's adjusted EBITDA improved compared with the previous quarter, increasing to a slight positive result, supported by low operating costs and government support. Occupancy was 36 percent, only half of what was normal earlier and below what is needed for sustained profitability.
MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended September 30, 2020.
Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2020.
In the bleakest outlook since benchmarking began, hotel occupancy rates in 2021 are forecast to be 55% across the UK, and could take four years to return to pre COVID-19 levels. This is a stark reality for a once optimistic industry, which had seen a decade of growth post the global financial crisis.
Wyndham Destinations, Inc. (NYSE:WYND), the world's largest vacation ownership and exchange company, today reported third quarter 2020 financial results for the three months ended September 30, 2020..
As entry restrictions for international travelers in Japan remain in place, new trends in hotel performance have emerged. Recent data suggests a distinct preference for regional destinations, helped in part by the Japanese government's "Go to Travel" campaign to promote domestic travel and help boost local businesses.
Countries across the world have seen various levels of impact over the last seven months due to the COVID-19 pandemic. So where exactly do Pacific countries stand now? We look at how performance has changed over the course of the pandemic.
Restrictions on travel introduced in response to the COVID-19 pandemic continue to hit global tourism hard, with the latest data from the World Tourism Organization (UNWTO) showing a 70% fall in international arrivals for the first eight months of 2020.
Bouncing back to profitability is proving a Sisyphean task for U.S. hotels. The rest of the world is having a slightly easier path.
The Central/South America hotel industry reported slight performance improvement over the previous month but at overall low levels, according to September 2020 data from STR.
Keith Barr, Chief Executive Officer, InterContinental Hotels Group PLC, said: "Trading improved in the third quarter, although progress continues to vary by region. RevPAR declined 53%, compared to a 75% decline in the prior quarter, while occupancy was 44%, up from 25% in Q2.
Miami-Dade County hotel and restaurants - the two largest hospitality industries in South Florida - have taken a $3.36 billion dollar hit from COVID-19, according to a new study.
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: "Our performances during the third quarter point to a marked recovery of business during the summer season. The worst of the crisis is now behind us, but our main markets are still substantially affected by the measures rolled out to combat the health crisis.
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.
Hotels in both the Middle East and Africa showed continued occupancy improvements but at overall low levels, according to September 2020 data from STR.
U.S. hotel occupancy was virtually flat from the previous week at 50.1%, according to the latest data from STR through 17 October. 11-17 October 2020 (percentage change from comparable week in 2019):
The U.S. hotel industry showed slightly lower performance from the month prior, according to September 2020 data from STR.
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STR's Forward STAR data shows that Australia's short-term hotel performance will remain similar to recent months with regional areas outperforming capital cities.Parallel to other countries across the world, higher occupancy in regional areas is especially pronounced on weekends, and occupancy-on-the-books data for the next 90 days (as of 5 October) shows a similar pattern.
Dubai's hotel industry reported its highest occupancy level since February, according to preliminary September 2020 data from STR. Year-over-year declines in the key performance metrics remained significant.
STR's preliminary September 2020 data for London hotels showed lower occupancy but higher room rates when compared with August. Year-over-year declines remained significant. Comparison with September.
STR's Tourism Consumer Insights team has been keeping a close eye on consumer trends around the industry during this truly unprecedented time. The twists and turns of the COVID-19 pandemic have contributed to seismic changes in tourism, which has included the cessation of international travel for some countries.
Teague chats with Arne about his COVID timeline, how he's been able to lead during a global pandemic, and how China's hotel performance may give us some insight into the recovery in the U.S.
Major economies in Europe, including the U.K. and those in the Eurozone, recently confirmed what we already suspected. Economies across the continent have entered an economic recession because of the impact of COVID-19—an impact that has been devastating for the hospitality industry.
U.S. hotel occupancy decreased slightly from the previous week, according to the latest data from STR through 3 October.27 September through 3 October 2020 (percentage change from comparable week in .
A new report by SiteMinder, the global hotel industry's leading guest acquisition platform, reveals that five stages lay ahead of the world's almost one million accommodation providers until their booking cycle resets into a different normal.
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, Metro Denver's occupancy fell roughly eight points from 65% in 2008 to 57% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 74% to 42%, reflecting a 32-point correction.
The Baird/STR Hotel Stock Index dropped 7.1% in September to a level of 3,329. Year to date through the first nine months of 2020, the stock index was down 36.8%.
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Horwath HTL Hungary, in cooperation with the Hungarian Hotel & Restaurant Association, provides a snapshot report based on a national online sentiment survey to reflect on the unprecedented challenges in 2020, through the first- hand feedback of hoteliers.
The latest edition of the Duetto Pulse Report, which tracks data from September 7-20, shows some considerable increases in web traffic across most markets, as interest in travel begins to rise significantly.
While many nations have lifted COVID-19-related limits on travelers, entry restrictions for international travelers in Japan remain in place. However, the Japanese government has launched a "Go to Travel" campaign to promote domestic travel and help boost local businesses.
On 26 March 2020 as we said our goodbyes to colleagues, we did not foresee that six months later many hotels across South Africa would remain closed.
Improvements in U.S. hotel profitability metrics slowed in August, according to STR's latest monthly P&L data release. In a year-over-year comparison with August 2019, the industry reported the follo.
Hoteliers outside the U.S. have cause for muffled celebration: Europe, Asia-Pacific and the Middle East all showed positive gross operating profit per available room (GOPPAR) in August. The U.S. now becomes the only region that has yet to turn a positive month of profit since the COVID-19 pandemic took hold.
MMGY Myriad, a leader in international destination marketing, and Travel Market Report, a news publication that serves as the voice of travel advisors in North America, have released the latest findings of the Travel Advisors COVID-19 Sentiment Barometer (Wave III).
The Central/South America hotel industry reported slight improvement over the previous month, but low overall performance, according to August 2020 data from STR.U.S. dollar constant currency, August 2020 vs.
Historically the lodging industry has proved to be one of the most resilient industries in the world and there is no reason why the industry cannot recover from the COVID-19 shock. As one of the real estate sectors most dependent on individual mobility, travel restrictions and government-mandated lockdowns induced a dramatic decline in hotel occupancies across the world with performance hovering near 10% or even lower for the month of April.
The Asia Pacific hotel industry reported continued improved performance from previous months but at overall low levels, according to August 2020 data from STR.
Hotels in both the Middle East and Africa showed continued improvements but overall low performance, according to August 2020 data from STR.
Europe's hotel industry reported its best performance levels since February, according to August 2020 data from STR.Euro constant currency, August 2020 vs. August 2019
The latest edition of Duetto's Pulse Report, which tracks key hotel business metrics from August 24 - September 6, shows significant increases in performance for the hotel markets of North America, boosted by the Labor Day holiday weekend.
Fueled by leisure travel, week-over-week U.S. hotel occupancy trended upward for 13 consecutive weeks—from a record-low of 21% the week ended April 11 to a high of 50% for the week ended August 15. However, as school vacations ended, U.
Few industries have suffered more from the COVID-19 than hospitality and tourism, and China's hotel sector has many lessons to learn. In a thought-provoking exploratory study published recently, Dr Fei Hao, Dr Qu Xiao and Dean Kaye Chon of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University cast light on the fundamental impact of COVID-19 on the sector, and propose strategies for Chinese hotel firms to overcome their current difficulties and emerge ever stronger.
MMGY Global has announced the latest findings from MMGY Travel Intelligence's Travel Intentions Pulse Survey Wave VIII (TIPS) and MMGY Global's Travel Safety Barometer, which are designed to track how COVID-19 is impacting travelers' attitudes, perceptions, and behaviors.
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Europe as well as our latest forecast updates.
International tourist arrivals plunged 93% in June when compared to 2019, with the latest data from the World Tourism Organization showing the severe impact COVID-19 has had on the sector. According to the new issue of the World Tourism Barometer from the United Nations specialized agency, international tourist arrivals dropped by 65% during the first half of the year.
2019 had been one of the strongest performing years for the Indian hotel market in the past decade, uplifting hopes for even better performance in 2020. However, 2020 has been the toughest year in living memory and unfortunately looks to carry on the negative trend for the rest of the year due to the global pandemic.
Even as the COVID-19 pandemic continues to disrupt a return to workplaces, schools and sports arenas across the country, travelers report an increasing sense of safety with most types of travel activities in the most recent MMGY Travel Safety Barometer report.
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 30 August through 5 September, is linked below.Key highlights:
Phuket's hotel industry is reaching breaking point and drastic economic support from the government is needed for it to survive the high season, urge industry leaders. In the wake of the controversial "Phuket Model" international travel reopening scheme, reality is biting back as hotels in Thailand's leading resort island are unable to sustain operating viability based on domestic tourism.
Horwath HTL Italy conducted this survey in collaboration with the Italian Hotel Association to evaluate the current and medium-term impacts of Covid-19 on the Italian hospitality industry. In general, it is commonly expected a heavy drop of performances in the first semester of 2020 compared to 2019, with more than 49% of respondents expecting a decrease of more than 80% of Total Revenues.
Despite the coronavirus pandemic, the German hotel sector is still expanding. This positive business climate was revealed in a survey carried out in the course of May and June by internationally-active property consultancy Cushman & Wakefield.
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 23-29 August, is linked below.Key highlights:
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 24-30 August, is linked below.Key highlights:
Click here for full overview
The American Hotel & Lodging Association (AHLA) today released an analysis on the economic and human struggle of the hotel industry six months into the COVID-19 pandemic, with millions of employees still furloughed or laid off and travel demand lagging far behind normal levels.
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 16-22 August, is linked below.Key highlights:
The travel industry is gradually moving again, but predicting travel demand is challenging in a rapidly changing environment. For now, self-quarantine measures required when traveling from high risk areas continue to keep most would-be travelers homebound.
The world continues to deal with a pandemic that doesn't want to subside. The hotel industry could use some breathing space. months of profitability, with Asia-Pacific the exception, after two consecutive months of positive gross operating profit per available room (GOPPAR).
Our goal is to provide essential data to the industry at a critical time to enable a comprehensive look into the impact of the pandemic with a focus on looking ahead toward the recovery. By understanding how the pandemic has impacted a market, industry leaders can begin to understand the drivers of the recovery in that market.
Philadelphia short-term rental properties showed double-digit performance improvements from June to July, according to STR.
The tourism industry has been rapidly transforming and adapting as travel seasonality and consumer trip-planning behavior have changed due to the COVID-19 pandemic. MMGY Global - the world's leading integrated marketing company specializing in travel, tourism and hospitality - has identified an opportunity to help bolster the travel industry and help Americans get back lost vacation time with "Stretch Season," extending the traditional summer travel season well past Labor Day into fall.
The Central/South America hotel industry reported slight improvement month over month, but low overall performance, according to July 2020 data from STR.U.S. dollar constant currency, July 2020 vs. J.
Reflecting reopening around the continent, Europe's hotel industry reported improved but low performance, according to July 2020 data from STR.Euro constant currency, July 2020 vs. July 2019
Hotels in both the Middle East and Africa showed improved but low performance, according to July 2020 data from STR.
The Asia Pacific hotel industry reported continued improved performance from previous months but at overall low levels during July 2020, according to data from STR.
A new in-depth data dashboard highlighting the recovery of travel demand across flights and hotels, as well as revealing the shifting intentions of travellers through online travel searches, has been launched by the World Travel & Tourism Council (WTTC).
The U.S. hotel industry showed slightly higher performance from the month prior, but at overall low levels during July 2020, according to data from STR.
Hotel demand had a pickup transitioning from July to August. This is particularly reflected in Rack/BAR, Promotion + Loyalty Member Rate and OTA occupancy. Concurrently, ADR has flattened in those same categories.
A new national report shows that the hotel industry is facing a historic wave of foreclosures as the COVID-19 pandemic continues to devastate small business hotel owners and its workforce. Since the beginning of the pandemic the hotel segment has faced a historic number of delinquencies and is the most heavily hit sector of the commercial mortgage-backed securities (CMBS) market.
Horwath HTL Croatia conducted a sentiment survey to monitor and assess the impact of the COVID-19 pandemic on the Croatian hotel industry.
- The ongoing impact of the COVID-19 pandemic will lead to a 29% decline in annual hotel occupancy over the next 12 months, resulting in a projected revenue loss for the industry of about $75 Billion in room revenue alone.
Total tourism & leisure industry M&A deals in Q2 2020 worth $387.67m were announced in the US, according to GlobalData's deals database.
As a newcomer to the group of developed markets, Poland faired well in comparison to the rest of the world economy elite countries. The Polish economy is considered steady with GDP during the second decade of 2000s consistently growing.
Full recovery in U.S. hotel demand and room revenue remains unlikely until 2023 and 2024, respectively, according to the slightly downgraded STR and Tourism Economics forecast just released at the 2020 Hotel Data Conference.
Following the announcement of TUI's Q3 2020 results
Throughout the crisis we have continued to act responsibly, doing all we can to support our hotel colleagues and owners, and create a clean, safe stay experience that we know guests can trust. The teamwork, dedication and care that our colleagues and owners have shown to adapt our approach is central to meeting the evolving needs and expectations of guests, as well as the communities in which we operate.
Jeddah's hotel industry reported improved but low performance levels during July 2020, according to preliminary data from STR.
STR's preliminary July data for London hotels showed record-low occupancy.
Sydney showed slightly higher hotel performance in July 2020 but the same significant level of year-over-year declines, according to preliminary data from STR.
Following the release of Royal Caribbean Group's Q2 2020 results;
The Baird/STR Hotel Stock Index decreased 1.7% in July to a level of 3,010. Year to date through the first seven months of 2020, the stock index was down 42.9%.
Since the launch of The Hotelier PULSE Report series in April 2020, Guestcentric has surveyed hundreds of Hoteliers on key issues that remain top-of-mind since the start of the Covid-19 crisis, such as occupancy, ADR, financial recovery, Health & Safety, and redefining Sales & Marketing strategies for the future.
The Indian Hotels Company Limited (IHCL), South Asia's largest hospitality company, reported its Consolidated and Standalone financials for the first quarter ending June 30th, 2020.
The electronic quarantine tag recently introduced in Singapore has the potential to rattle the number of international departures from the country, which reached 16.8 million in 2019, as it is yet another aspect that will elevate consumer angst and postpone recovery for neighboring Asian destinations, according to GlobalData, a leading data and analytics company.
The Mexican Market Report provides an insight of the current state of the Mexican economy, the tourism sector, and the evolution of variables that have a tangible influence on the hotel investment market amidst the COVID-19 pandemic.
The latest findings of the Travel Advisors COVID-19 Sentiment Barometer (Wave II), released in partnership by MMGY Myriad and Travel Market Report, indicate that travelers are being cautious about their international travel plans by booking with some of the longest windows advisors have ever seen.
Wyndham Destinations, Inc. (NYSE:WYND), the world's largest vacation ownership and exchange company, today reported second-quarter 2020 financial results for the three months ended June 30, 2020. Hig.
Caesars Entertainment, Inc., (NASDAQ: CZR) ("Caesars," "CZR," or "the Company"), formerly known as Eldorado Resorts, Inc., today reported operating results for the second quarter ended June 30, 2020.
Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three and six months ended June 30, 2020.
Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its second quarter 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic had on Hilton's business.
July and August are two of Europe's most important months for hotels with travellers spread across the continent on summer holidays. However, it is no secret that summer looks much different this time around for Europe due to the global impact of the COVID-19 pandemic.
A new study by SiteMinder, the global hotel industry's leading guest acquisition platform, reveals an increased preference for spontaneity among Italy's local travellers, a segment currently crucial to the country's accommodation industry as international travel continues to rebuild.
Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE: PK) today announced results for the second quarter ended June 30, 2020 and provides an operational update on COVID-19.
Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the second quarter ended June 30, 2020.
Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported second-quarter 2020 financial results. Net loss attributable to Hyatt was $236 million, or $2.33 per diluted share, in the second quarter of 2020, compared to net income attributable to Hyatt of $86 million, or $0.
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: "The shock that our industry is experiencing is both violent and unprecedented. Against this backdrop, we have managed to limit the impact of the crisis: on our performance by taking immediate steps to protect our resources and, thanks to the Group recent years transformation and our sound financial structure; on our employees by implementing concrete and immediate support measures.
Occupancy has long been one of the key hotel performance metrics measured by STR. Reported on both a monthly and weekly basis, occupancy is easily calculated by dividing rooms sold (demand) by rooms available (supply), providing a straightforward representation of the percentage of rooms occupied during a given time period.
Total tourism & leisure industry M&A deals in Q2 2020 worth $3.64bn were announced globally, according to GlobalData's deals database.
Total tourism & leisure industry venture financing deals in Q2 2020 worth $1.09bn were announced globally, according to GlobalData's deals database.
New research by SiteMinder, the global hotel industry's leading guest acquisition platform, reveals a growing enthusiasm for domestic travel among Mexicans and a heightened awareness of personal health.
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 19-25 July, is linked below.Key highlights:
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 20-26 July, is linked below.Key highlights:
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.
Total tourism & leisure industry deals for Q2 2020 worth $8.34bn were announced globally, according to GlobalData's deals database.
Barcelona is well-known for its quality of life. Creativity, cosmopolitanism and innovation are values that are associated with the city and make it very attractive to live, work or visit. In Catalonia in 2019, there were 20,737,029 travellers and 58,222,342 overnight stays, of which 8,517,891 travellers and 21,371,417 overnight stays were in Barcelona city, 41% of the tourists visiting Catalonia are going to Barcelona city.
US spending into South America is forecast to drop by 44.4% between 2020 and 2021 as travel restrictions due to COVID-19 have stymied visitor flows. Having featured in the top ten international arrivals in all the five major economies across South America in 2019, the reduction of this source of market will be detrimental for the travel sector.
Due to the impact of the COVID-19 pandemic, the Canadian hotel industry reported all-time lows in the three key performance metrics during Q2 2020, according to data from STR.
While questions remain regarding the return of in-person learning in schools throughout the U.S., STR's annual School Break Report shows only modest shifts in academic calendars for the upcoming year.
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 13-19 July, is linked below.Key highlights:
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 12-18 July, is linked below.Key highlights:
STR's latest monthly P&L data release shows U.S. hotel gross operating profit per available room down 105.4% in June. That year-over-year percentage change showed continued improvement from April (-116.
The Central/South America hotel industry reported slight improvement in occupancy month over month, but lower room rates, according to June 2020 data from STR.U.S. dollar constant currency, June 2020 vs.
HENDERSONVILLE, Tennessee—STR data for 12-18 July 2020 shows a continued steady rise in Canadian hotel performance but the same significant level of year-over-year declines.
HENDERSONVILLE, Tennessee—U.S. hotel performance data for the week ending 18 July showed slightly higher occupancy and room rates from the previous week, according to STR.
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.
Hotels in both the Middle East and Africa reported lower occupancy but improved room rates from the previous month, according to June 2020 data from STR.
Observations/Trends - 07/21/20
According to the latest results of MMGY Global's Travel Safety Barometer (Wave VI), which measures the impact of COVID-19 on traveler perceptions of safety, the current surge in cases of the virus across the U.
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 5-11 July, is linked below.Key highlights:
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 6-12 July, is linked below.Key highlights:
U.S. hotel performance data for the week ending 11 July showed mostly flat occupancy and lower room rates from the previous week, according to STR.5-11 July 2020 (percentage change from comparable we.
Tourism has been one of the most significantly hit industries by the emergence of global COVID-19 pandemic. With most airplanes still grounded, hotels slowly recovering, investments on a standby and travelling in general limited, destination marketeers and managers are nowadays experiencing some of the most challenging times in their careers.
With all that's been happening, it's so encouraging and hopeful to see a gradual uplift in bookings.
Melbourne showed slightly higher hotel performance in June 2020 but the same significant level of year-over-year declines, according to preliminary data from STR.Comparison with June 2019:
Dubai's hotel industry reported slightly improved but still relatively low performance levels, according to preliminary June data from STR. Compared with June 2019:
STR's preliminary data for London hotels showed record performance lows. Comparison with June 2019:
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 28 June through 4 July, is linked below.Key highlights:
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 29 June through 5 July, is linked below.Key highlights:
Hotels and destinations need to overcome the initial shock of the Covid-19 pandemic and it's repercussions, and quickly understand the new environment within which they will need to operate. An environment with almost zero bookings, a crashed demand, increased operational costs, health & safety protocols and procedures, closed borders, different sentiments amongst people, different needs and a shortened season that will most probably become less that 80 days and mostly domestic-oriented.
U.S. hotel performance data for the week ending 4 July showed a slight decline in occupancy from the previous week, according to STR.28 June through 4 July 2020 (percentage change from comparable wee.
The Baird/STR Hotel Stock Index fell 5.3% in June to a level of 3,060. Year to date through the first six months of 2020, the stock index was down 41.9%.
Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 21-27 June, is linked below.Key highlights:
As markets slowly begin to reopen and leisure demand picks up, specifically on weekends, it is important to look towards business-on-the-books data to see how these markets will perform in the coming weeks and months.
The COVID-19 pandemic has caused unprecedented challenges for global hospitality, with travel restrictions and lockdown measures forcing hotel closures and performance declines that exceed the levels witnessed during the global financial crisis and other challenging times for the industry.
COVID-19 and the ensuing global economic crisis have caused dramatic changes for the travel industry that may take years to fully resolve.
During a recent webinar on the impacts of COVID-19 on European hotels, STR Managing Director Robin Rossmann drew on his experience at Deloitte and shared with viewers an important practical application of benchmarking.
Nashville short-term rental properties showed significant improvement in May after the COVID-19 pandemic had led to down performance in April, according to STR.
April showers just may have been the thing hoteliers in the U.S. needed. Though May wasn't a full bouquet of flowers, green shoots certainly abounded.
Even with improving performance already underway, U.S. hotel demand will not return completely to pre-pandemic levels until 2023, according to the latest forecast revision from STR and Tourism Economics.
Like the rest of the world, the Middle East's hotel industry fell off the cliff in March and sunk deeper in April. But if May is any indication, its fortunes may slowly be turning, albeit still well off pre-COVID levels.
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 15-21 June, is linked below.Key highlights:
MMGY Myriad, a leader in international destination marketing, and Travel Market Report, a news publication that serves as the voice of travel advisors in North America, have partnered on an industry tracking survey to monitor the impact of the COVID-19 pandemic on travel agencies.
A new survey conducted by Morning Consult commissioned by the American Hotel & Lodging Association (AHLA) found that while Americans remain hesitant about traveling, they overwhelmingly support efforts by Congress to help the travel industry recover including helping hotels keep their doors open and bring back employees, as well as incentivizing Americans to travel again.
It's baby steps back to profitability, but amid a pandemic, no bad news is good news. Though the global hospitality industry is still in critical condition, it appears to be coming off life support and moving to intensive care, given the extraordinary circumstances foisted by COVID-19.
Reflecting the impact of the COVID-19 pandemic, the Central/South America hotel industry reported historic performance lows during May 2020, according to data from STR.U.S. dollar constant currency, May 2020 vs.
Reflecting the continued effects of the COVID-19 pandemic, the Asia Pacific hotel industry reported monthly lows in the three key performance metrics during May 2020, according to data from STR.
Showing the continued impact of the COVID-19 pandemic, hotels in the Middle East and Africa reported unprecedented performance lows during May 2020, according to data from STR.U.S. dollar constant currency, May 2020 vs.
Reflecting the continued impact of the COVID-19 pandemic, Europe's hotel industry reported performance lows during May 2020, according to data from STR.Euro constant currency, May 2020 vs. May 2019
As tourism slowly restarts in an increasing number of countries, the World Tourism Organization (UNWTO) has released new data measuring the impact of COVID-19 on the sector. UNWTO emphasizes the need for responsibility, safety and security as restrictions on travel are lifted.
Governments around the world have responded quickly and strongly to mitigate the impact of COVID-19 on their tourism sectors, new research from the World Tourism Organization (UNWTO) has found. As many destinations begin to ease restrictions on travel, the specialized United Nations agency has released its first Briefing Note on Tourism and COVID-19, illustrating efforts taken to safeguard jobs and lay the foundations for recovery.
Due to the impact of the COVID-19 pandemic, the U.S. hotel industry showed continued lower performance during May 2020, according to data from STR.
According to the new research, 80% of HSMAI members expect to see signs of hotel recovery in their primary markets by Q4 2020. Still, many acknowledge that hoteliers will need to significantly adapt their business models to capitalize on this according to a new series of eBooks released by Amadeus, an industry-leading provider of hospitality technology solutions, in partnership with global hospitality organizations, Hospitality Sales and Marketing Association International (HSMAI), the Institute of Hospitality (IoH) and the Hospitality Professionals Association (HOSPA).
MMGY Global has announced the findings from Wave 5 of its Travel Safety Barometer report, a sentiment tracking study that measures American travelers' perceptions of how safe it is to engage in specific travel behaviors on a scale of 0 (Extremely Unsafe) to 100 (Extremely Safe).
The 2020 edition of the Hotel Data Conference will feature a hybrid format and limited in-person attendance to accommodate for social distancing measures and travel challenges around the COVID-19 pandemic.
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 1-7 June, is linked below.Key highlights:
Each week, STR analysts provide a deep-dive into China hotel performance. The most recent video is linked below, available in both English and Chinese.Key highlights:
Key highlights: Drive-to destinations continued to show strong weekend performance, with Myrtle Beach, S.C., recording an 83.4% occupancy level. Economy class hotels reached a 50.3% occupancy level for the week, while the Upper Upscale class showed the lowest occupancy level among the classes (22.
The latest edition of our Pulse Report, which went live today, is showing us universally positive signs, with week on week increases in pick up for all four geographic regions we are tracking: North America, Latin America, EMEA and APAC.
Reflecting the ongoing impact of the COVID-19 pandemic, Sydney showed continued lower hotel performance in May 2020, according to preliminary data from STR.Comparison with May 2019:
Abu Dhabi's hotel industry reported improved but still relatively low performance levels, according to preliminary May data from STR. Compared with May 2019:
STR's preliminary data for Berlin hotels showed slight improvement from April but record lows for May. Comparison with May 2019:
Data by SiteMinder, the global hotel industry's leading guest acquisition platform, reveals that minimal planning will go into the trips of the post-COVID hotel guest. The data stems from new indicators within the World Hotel Index, which show that hotel bookings globally have surpassed a third of 2019 levels - for stays as soon as this month.
There are signs, however tentative, that many markets are beginning to see the light at the end of the tunnel. For some markets that light may be an oncoming train, but let's not get side-tracked so early into the report.
The Baird/STR Hotel Stock Index rose 1.7% in May to a level of 3,232. Year to date through the first five months of 2020, the stock index was down 38.7%. "Hotel stocks were relatively flat in May, which reflected underperformance during the first part of the month but a sharp reversal in the back half of May as the broader re-opening trade gained momentum and stock prices recovered,"said Michael Bellisario, senior hotel research analyst and director at Baird.
Each week, STR analysts provide a deep-dive into China hotel performance. The most recent video is linked below, available in both English and Chinese.Key highlights:
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 25-31 May, is linked below.Key highlights:
The travel industry has endured many crises but very few were adequately prepared for a pandemic as devastating as COVID-19. What we are experiencing now is unlike anything that has gone before - this is a crisis everyone is learning to navigate in real time and the longer the lockdown and travel limitations go on, the louder the questions of 'what next?' reverberate through every business connected to tourism.
