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A total of 57 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during August 2021, which is a decline of 17.
In August 2021, Tranio joined forces with the International Hotel Investment Forum (IHIF) to conduct a joint survey on the impact the global COVID-19 pandemic has had on the hospitality sector since March 2020, and to zero in on what we can expect from the market going forward.
MMGY Travel Intelligence, MMGY Global’s research and insights division, has released the findings from the 2021 “Fall Edition” of its Portrait of American Travelers® survey fielded in late July. The report highlights continuing strength in traveler sentiment, including high expectations for holiday travel.
Key Takeaways - The occupancy recovery has flat-lined and RevPAR gains have lost some momentum as we head into fall. - International travel restrictions continue to benefit U.S. hotels and the bulk of inbound travelers are now coming from Latin America, a meaningful change since prior to the pandemic.
U.S. hotel performance continued to decline from previous weeks, according to STR‘s latest data through 28 August.
NASHVILLE, Tenn. — Despite every corner of the hotel industry being challenged, a handful of hotels in the U.S. have been able to grow either occupancy, rate or both during the 12-month period ending March 2021.
Research conducted by the World Travel & Tourism Council (WTTC) has revealed Sri Lanka’s economy could face losses of more than LKR260 million each day it remains on the UK’s disruptive and damaging ‘red list’ for travel.
Regions around the world continue to see increased pandemic-related challenges, with the situation varying greatly by country. Fortunately, more than 4.6 billion doses of coronavirus vaccines have been administered in more than 190 countries, providing the tourism and hospitality industry a much-needed confidence boost, especially during the current summer months.
Destinations across North America (USA, Mexico and Canada) are at different stages of tourism development. However, one common factor is that the effects of the COVID-19 pandemic in 2020 have been hard felt for each respective tourism economy, says GlobalData, a leading data and analytics company.
More than 60% of small and independent hoteliers in the Mediterranean say bookings are rising faster than at any time in the last 12 months.
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Dusit Thailand Public Company Limited (DUSIT), one of Thailand’s leading hotel and property development companies, has reported its 2Q21 results, with total revenue of THB 587 million, a year-over-year (YoY) increase of THB 163 million (or 38.
After being one of the highest-performing countries during the early portion of 2021, Australia’s hotel occupancy has been on a rapid decline amid the latest COVID-19 lockdowns across the country, according to data from STR through 1 August.
The International Air Transport Association (IATA) released the IATA World Air Transport Statistics (WATS) publication with performance figures for 2020 demonstrating the devastating effects on global air transport during that year of the COVID-19 crisis.
The prospects for a swift tourism recovery have been dealt a blow in recent months as the Delta variant has spread rapidly across many parts of the world. While vaccination rates have continued growing in most developed countries, rising COVID-19 cases have forced some governments to reimpose restrictions or, at the very least, slow plans for reopening their economies.
Prior to the COVID-19 pandemic, urban hotels and hotels located in STR’s top 25 markets led the U.S. in performance, with high occupancy and higher rates courtesy of the leisure and business travelers who flocked to these metro centers.
A Pictorial Update on Our Latest Thoughts and the Facts and Figures Influencing Our Industry.
While no hotel escaped unscathed from the COVID-19 pandemic, extended-stay hotels reported some of the highest occupancies over the course of 2020.
The COVID-19 pandemic was an unprecedented setback in Nashville’s growth, particularly within the lodging, convention, and tourism industries, similar to trends across the nation. According to STR, occupancy levels declined by 44% in 2020, while ADR contracted by 30%.
At the close of 2021’s second quarter, analysts at Lodging Econometrics (LE) report that the total U.S. construction pipeline stands at 4,787 projects/598,111 rooms, down 14% Year-Over-Year (YOY) by projects from Q2 2020’s 5,582 projects/687,801 rooms.
The biggest crisis in the history of tourism continues into a second year. Between January and May, international tourist arrivals were 85% below 2019 levels (or a 65% drop on 2020), UNWTO data shows.
The darkest days for the tourism industry may soon be over, according to the chairman of a multinational hospitality firm.
Amid a worldwide pandemic, the lodging industry faced a downturn that was greater than the past two lodging-market declines combined; fortunately, most markets have begun to recover in both occupancy and average daily rate (ADR).
For the week leading into the Fourth of July holiday, U.S. hotels sold more rooms this year than in 2019, and at least outside of the top 25 largest markets, commanded record-high rates.
A total of 74 deals (comprising mergers & acquisitions, private equity, and venture financing deals) were announced in the global travel and tourism sector during June, which is an increase of 39.6% over 53 deals announced in May, according to GlobalData, a leading data and analytics company.
Despite an uptick in leisure travel, a new report released by the American Hotel & Lodging Association (AHLA) shows that the road to recovery for the hotel industry is long with 21 of the top 25 U.S. hotel markets remaining in a depression or recession.
As some of the biggest and most business-based markets in the U.S., the top 25 markets have struggled the most of STR’s 166 markets over the past 14 months.
In 2019, the tourism industry in Ireland was valued at over €9bn to the economy, with overseas visitor numbers at their highest-ever level at 10.8m. Similar to other countries, COVID-19 has had an extreme impact on the tourism sector, with a lack of international visitors and restrictions on hospitality, tourism and leisure businesses.
From mid-June 2021 Indian states started easing COVID-19 induced lockdown in a cautious way to get back to normal. As a result, six major metropolitan areas are forecasted to grow by 9.7% in real terms in 2021 and unemployment rate set to decline by 0.
Are you tracking the Market Recovery Monitor each week? Utilizing data and benchmarking to navigate recovery will be a key focus of the 2021 Hotel Data Conference. Click here for registration, with both in-person and virtual options available for our 13th annual event in Nashville.
Price is the most important factor to 47%* of consumers when selecting accommodation, according to a poll by GlobalData. The data and analytics company notes that, with less budget for travel but a strong desire to escape, many will turn to budget providers to satisfy their travel cravings.
As Europe opens up after months of lockdowns and restrictions, interest in travel has risen distinctly, with two-thirds of Europeans intending to take a trip by the end of November 2021. Only 15% remain uncertain, and 15% are not willing to travel.
Q1 2021 likely marked the last quarter of RevPAR declines for the U.S. hotel industry during the COVID-induced downcycle. Recent improvements in demand, air travel, operational viability and asset pricing indicate that a recovery is firmly underway.
While the recovery varies widely, global hotel performance has shown signs of improvement across most world regions. From roadmaps to reopening across Europe to travel bubbles between key Asia Pacific markets and the overachieving Middle East in between, most of the world's hoteliers have started to finally see the light at the end of the tunnel.
In 2020, under the influence of COVID-19, Horwath HTL conducted a special Sentiment Survey on the Influence of the Novel Coronavirus Outbreak in February, June, September and December of 2020 and March of 2021.
Economic activities in major Indian cities have been severely affected with the second wave of COVID-19 pandemic, which led to full or partial lockdowns across the country. Against this backdrop, the combined real GDP growth of nine major Indian cities has been revised downward to 9.
Recent COVID-19 restrictions pushed Lima’s hotel occupancy down after the market had reached a six-month high in April, according to data from STR.
The US lodging industry continues to regain strength with early signs of an accelerated recovery emerging since our last publication. In our November edition, we assumed the significance and frequency of recent COVID-19 case spikes would increase the length and severity of the pandemic.
The Global Business Travel Association (GBTA), the world’s largest business travel association, has released the findings from its latest poll measuring the impact of the COVID-19 pandemic and how GBTA buyer and procurement members are navigating the return to travel.
Hotels have weathered the pandemic storm well with support from lenders, with a bounce back of trade expected, although for some this may take three to four years to achieve.
U.S. hotel performance comparisons to 2019 weakened in the last week of April, indicating recovery from the pandemic is still very much an ongoing concern.
Now is the time to talk about the future, challenge the past and come up with new business models. Join our first free 90-minute Online Meetup to hear from speakers such as Guy Parmelin (Switzerland's President and Member of the Federal Council), Nadia Fettah Alaoui, (Morocco's Minister of Tourism), futurist Matthias Horx, and CEOs Marcus Bernhardt and Johannes Reck.
Boris Ivesha, President & Chief Executive Officer, PPHE Hotel Group said:
The annual Economic Impact Report (EIR) from the World Travel & Tourism Council (WTTC) today revealed the U.S. Travel & Tourism sector suffered a significant loss of $766 billion* in 2020.
A strong return of leisure travel has created much cause for celebration during the early months of 2021. In the U.S., hotel room demand in March was the country's highest level recorded since the start of the pandemic.
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.
Mumbai's rapid hotel performance recovery is projected to return to more moderate levels, according to a recent market forecast from STR and Tourism Economics.
The World Travel & Tourism Council's annual Economic Impact Report (EIR) today reveals that the dramatic collapse of Italy's Travel & Tourism sector has wiped out a staggering €120.6 billion from the nation's economy.
The World Travel & Tourism Council's annual Economic Impact Report (EIR) today reveals the dramatic impact COVID-19 had on France's Travel & Tourism sector, wiping out €103 billion from the nation's economy.
Jeddah's hotel industry reported one of its highest monthly occupancy levels of the pandemic period, according to preliminary March 2021 data from STR.
Week Ending 3 April 2021 : Weekly RevPAR rose to US$65.34, which was a 4.2% increase week over week and the industry’s highest level of the past 56 weeks when indexed to 2019. RevPAR has increased week over week all but three times this year.
COVID-19 sparks a dramatic 46.9% collapse in the sector's contribution to GDP More than 440,000 jobs lost, while many more remain protected by the Kurzarbeit schemeHowever, the return of internationa.
The World Travel & Tourism Council's annual Economic Impact Report (EIR) today reveals that the dramatic collapse of the UK's Travel & Tourism sector has wiped out a staggering £148 billion from the UK economy.
The devastating impact of the COVID-19 pandemic on global tourism has carried on into 2021, with new data showing an 87% fall in international tourist arrivals in January as compared to 2020. The outlook for the rest of the year remain cautious as the World Tourism Organization (UNWTO) continues to call for stronger coordination on travel protocols between countries to ensure the safe restart of tourism and avoid another year of massive losses for the sector.
The continued rollout of COVID-19 vaccinations and additional stimulus funds have strengthened the foundation for the recovery of the U.S. lodging industry. According to the February 2021 edition of Hotel Horizons®, CBRE Hotels Research is forecasting an average national occupancy level of 43.
The World Travel & Tourism Council's annual Economic Impact Report (EIR) today reveals the full devastating impact of COVID-19 had on the global Travel & Tourism sector last year, which suffered a massive loss of almost US$4.
At the beginning of 2020, the future of Boise's hospitality industry looked bright given the anticipated arrival of Amazon to the Treasure Valley and a robust 2020/21 convention and event schedule on the books at the Boise Centre.
One year after the pandemic decimated global tourism, Horwath HTL Indonesia and C9 Hotelworks, take a quick look at full year 2020 hotel market performance and demand trends in Bali.Bali hotels have struggled to keep afloat, domestic tourism has provided a lifeline but hotel performance hit rock bottom.
Travel's economic footprint in the United States shrank a staggering 42% last year, from $2.6 trillion to $1.5 trillion, according to new end-of-year totals prepared for the U.S. Travel Association by the research firm Tourism Economics.
In the December edition of the Lodging Market Overview by Horwath HTL Atlanta, Weekly Room Night Demand brought demand levels back to June 2020 after continued declines starting in October.
In the November edition of the Lodging Market Overview by Horwath HTL Atlanta, Weekly Room Night Demand continued to decline after losing nearly 3 million rooms sold between October and November. In addition, the number of Weekly Rooms Supply reporting saw its first decline of around 150,000 rooms in November after six months of continuous recovery.
In the October edition of the Lodging Market Overview by Horwath HTL Atlanta, signs of gradual increases in weekly room night demand and weekly room nights available show that the lodging market is on a cautious trajectory to 2019 levels.
NH Hotel Group reported revenue of €539.7 million in 2020, compared to €1.72 billion in 2019, a year-on-year decline of 68.6%, or €1.18 billion. The contingency plan rolled out by the Company from the onset of the pandemic, focused on cash preservation and cost control, successfully mitigated 60% of the impact of the drastic revenue drop at net result.
Canada's hotel industry reported continued lows across the three key performance metrics, according to STR's January 2021 data.
The U.S. hotel industry showed higher performance levels from the prior month, according to January 2021 data from STR.
U.S. weekly hotel occupancy reached its highest level since late October, according to STR's latest data through 20 February. 14-20 February 2021 (percentage change from comparable week in 2020):
Accor's Deputy CEO & CFO, Jean-Jacques Morin, provides highlights in 2 minutes of Accor's 2020 financial results.
Declines in occupancy and revenue per available room ("RevPAR") continued to accelerate across Manhattan during the fourth quarter, as the COVID-19 pandemic curbed both holiday tourism and commercial traveler demand to the city.
As a global health crisis morphed into an economic one, Deloitte has been conducting a series of weekly surveys, around the United States, to better understand the interplay between personal safety and economic vulnerability as a driver of purchase decisions and consumer behavior.
The airline industry has been rocked by the COVID-19 pandemic. With fewer people willing or able to travel by air, demand has drastically decreased—and as a result, so have the number of daily flights offered by commercial airlines.
With limited attendance and game festivities, Tampa's hotel performance gains came in far lower than that of previous Super Bowl host markets, according to STR. Despite the current pandemic environment, the market was still able to post a 64.
U.S. hotel occupancy increased more than 4 percentage points from the previous week, according to STR's latest data through 13 February. 7-13 February 2021 (percentage change from comparable week in .
New Zealand's response to the COVID-19 pandemic has been widely praised both locally and internationally.
Marriott International, Inc. (NASDAQ: MAR) today reported fourth quarter 2020 results, which were materially impacted by the COVID-19 global pandemic and efforts to contain it (COVID-19).
The COVID-19 pandemic has sent travelers looking for safe, comfortable settings in which to connect with family and friends, creating economic opportunity for others to earn needed extra income by listing their homes on Airbnb.
Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic has had on Hilton's business.
Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported fourth quarter 2020 financial results. Net loss attributable to Hyatt was $203 million, or $2.00 per diluted share, in the fourth quarter of 2020, compared to net income attributable to Hyatt of $321 million, or $3.
Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three months and year ended December 31, 2020.
The Global Business Travel Association (GBTA) - the world's largest business travel association - held its European Town Hall today to discuss its annual BTI™ Outlook with a focus on Europe.
The past year has been tremendously challenging for the entire hotel industry. As we previously announced, our occupancy rate fell to 23 percent in the fourth quarter due to increased spread of the virus and stricter restrictions.
Latest research shows the ongoing restrictions to travel and blanket quarantines has seen the UK suffer greater GDP losses than many of its European counterparts which have less stringent barriers in.
The Indian Hotels Company Limited (IHCL), South Asia's largest hospitality company, reported its Consolidated and Standalone financials for the third quarter ending December 31st, 2020.
MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter and year ended December 31, 2020.
The resurgence of COVID-19 cases across Japan in winter season and the delay in mass inoculation process are likely to reduce the gains expected for the local economies during Tokyo Olympics, thereby delay the economic recovery of Japanese cities in 2021, according to GlobalData, a leading data and analytics company.
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.
Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2020. Highlights include:
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. Occupancy declined for two years (roughly five points per year) following the landfall of Hurricane Katrina in August 2005, despite the decline in supply due to long-lasting storm damage.
A total of 57 deals were announced in the global travel and tourism sector during January 2021, which is a decrease of 29.6% over 81 deals announced in December 2020, according to GlobalData, a leading data and analytics company.
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, Houston's occupancy fell roughly twelve points from 67.
Jointly prepared by Horwath HTL India and STR, the annual report analyses hotel sector performance in an exceptionally challenging year marred by a global pandemic. It's a tale of massive occupancy drops, ADR and RevPAR declines.
The International Air Transport Association (IATA) announced full-year global passenger traffic results for 2020 showing that demand (revenue passenger kilometers or RPKs) fell by 65.9% compared to the full year of 2019, by far the sharpest traffic decline in aviation history.
The Global Business Travel Association (GBTA) - the world's largest business travel association - released its annual BTI™ Outlook, a detailed analysis of business travel in 2020, with projections for 2021 and beyond.
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. Our estimate is that local occupancy declined from the 2019 benchmark of roughly 74% to 35% in 2020, reflecting a 53-point correction, while ADR declined 25% ($137 to $103).
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.
Miami's short-term rental sector posted its best overall performance since the beginning of the pandemic, according to December 2020 data from STR. Miami short-term rentals, along with those in Nashville and Pennsylvania, reported occupancy levels higher than hotels in their respective markets.
The first hotel market sentiment survey conducted in Ukraine as a combined effort of the Ukrainian Hotel & Resort Association (UHRA) and Horwath HTL Hungary. The report gives an overview on how much the local hotel industry has been impacted by COVID-19 and what local hoteliers believe the future holds.
Including a 100.6% decline in December, U.S. hotel profitability fell 84.6% in 2020, according to STR's latest monthly P&L data release. December gross operating profit per available room (GOPPAR) came in worse than any month since June in both absolute terms and year-over-year comparisons.
U.S. weekly hotel occupancy remained flat from the previous week, according to STR's latest data through 23 January. 17-23 January 2021 (percentage change from comparable week in 2020):
London's short-term rental sector reported its lowest levels in occupancy and revenue per available room (RevPAR) since the summer, according to December 2020 data from STR.
Global tourism suffered its worst year on record in 2020, with international arrivals dropping by 74% according to the latest data from the World Tourism Organization (UNWTO). Destinations worldwide welcomed 1 billion fewer international arrivals in 2020 than in the previous year, due to an unprecedented fall in demand and widespread travel restrictions.
The end of 2020 is not the end of the problems for the global hotel industry, but it does bring hope on the wings of a vaccine that, in time, could be a panacea for wait ails it: fear.
Worsened pandemic metrics and assumptions of limited early-year travel led STR and Tourism Economics to slightly downgrade their latest U.S. hotel forecast. Full recovery of demand remains on track for 2023, while close-to-complete RevPAR recovery is still projected for 2024.
The Central/South America hotel industry reported record lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR.US$ constant currency, 2020 vs. 2019
Hotels in both the Middle East and Africa reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR.
Europe's hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to STR's year-end 2020 data.
Hotels in the Asia Pacific region saw record-low performance during 2020, according to data from STR.
Canada's hotel industry saw record lows in both occupancy and revenue per available room (RevPAR), according to STR's year-end 2020 data.
HVS and The Lodging Conference hosted a webinar on January 14, 2021, that provided insights on what lies ahead for the hospitality industry in 2021. A truly distinguished group of hospitality executives shared their perspectives on the changing hotel landscape, along with their thoughts on navigating this unprecedented time.
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.
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.
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.
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:
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.
