The U.S. hotel industry reported positive results in the three key performance metrics during January 2020, according to data from STR. In a year-over-year comparison with January 2019, the industry .
The U.S. hotel industry reported positive results in the three key performance metrics during January 2020, according to data from STR.
Last year, 2019, was a year of political suspense in Europe, continued break-neck development in the Middle East and persistent hesitation in Africa. The biggest news items of the last six months were probably Boris Johnson's landslide victory and him getting Brexit done (Phase 1 anyway), and the hushed birth of a new coronavirus.
The Arabian Hotel Investment Conference (AHIC) 2020 has released the third annual AHIC Hotel Investment Forecast, which reveals that more than US$23 billion worth of hotel construction contracts are scheduled to be awarded in the Middle East and North Africa between now and 2023.
Amid the current outbreak of coronavirus (COVID-19), STR analyzed historical data for China and found that the country's hotel performance recovered quickly following the containment of SARS in 2003. Recovery around the current outbreak situation of 2020 could follow a similar timeline.
STR's hotel pipeline data for the Central/South America region showed 147 projects accounting for 20,198 rooms in construction as of the end of January 2020. This represented a 6.1% year-over-year increase in the number of rooms in the final phase of the development pipeline.
STR's hotel pipeline data for the Caribbean/Mexico region showed 152 projects accounting for 31,787 rooms in construction as of the end of January 2020. This represented a 26.9% year-over-year jump in the number of rooms in the final phase of the development pipeline.
According to ForwardKeys, one of the world's leading travel analytics company, the travel setback caused by the Coronavirus outbreak has now spread beyond China, with other parts of the Asia Pacific region experiencing a 10.
Miami hotel performance exceeded projections and reached record levels in both average daily rate (ADR) and revenue per available room (RevPAR) during Super Bowl LIV weekend, according to an analysis by STR's Consulting & Analytics office.
Business on the books has dropped roughly 25% in select Barcelona hotels since the announced cancellation of the Mobile World Congress, according to preliminary data from Forward STAR, STR's future demand benchmarking solution.