STR data for 24-30 May 2020 shows Canadian hotel performance up slightly from previous weeks with the same significant level of year-over-year declines.
STR data ending with 30 May showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded previously.
Data by SiteMinder, the global hotel industry's leading guest acquisition platform, today reveals a growing demand for travel within Europe has pushed total hotel bookings worldwide past a quarter of 2019 levels.
By all accounts, the COVID-19 pandemic has wreaked near-term havoc on the U.S. economy in general and on the hospitality, tourism and leisure industries in particular. While the Fed Chairman and hotel industry leaders concur that there will be positive GDP growth in the third and fourth quarters of 2020, none believe we will get back to where we were quickly.
The UK hotel sector's traditionally strong domestic leisure demand bodes well for the sector's recovery once lockdown measures from COVID-19 are fully lifted, according to our latest report on the UK market.
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:
Prior to the outbreak of COVID-19 hitting the US, RevPAR growth had been decelerating, increasing just 0.7 percent in Q4 2019 and 0.9 percent for the year overall. Slightly stronger growth occurred in the first two months of this year, with RevPAR increasing 2.
STR data for 17-23 May 2020 shows Canadian hotel performance up slightly from previous weeks with the same significant level of year-over-year declines.
U.S. hotel gross operating profit per available room fell 116.9% during April 2020, according to the latest monthly P&L data release from STR. In a year-over-year comparison with April 2019, the indu.
Magnuson Hotels, the fast-growing franchise alternative today reported its April occupancy (percentage of rooms sold in a hotel) surpassed the USA April average of 24.63% by 16.7%, as measured by STR (Smith Travel Research).