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.
After A Long Chill, Survey Of Travel Advisors Shows Clients Are Warming Up To Deals And Interest In International Travel Is Stable
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).
U.S. hotel occupancy was nearly flat from the previous week, according to the latest data from STR.
STR data for 13-19 September 2020 showed slightly lower performance from prior weeks for Canada's hotel industry. Year-over-year declines also worsened.
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