Turning the page doesn't always assure a better result. After the worst performing year on record, the hotel industry was ready for 2021, but resigned to the fact that a new year doesn't mean things automatically get better.
According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline dipped slightly at the end of Q4 '20 to stand at 3,375 projects/639,811 rooms, down 4% by projects and 1% by rooms year-over-year (YOY).
London's short-term rental industry recorded a month-over-month increase in occupancy but declines in average daily rate (ADR) and revenue per available room (RevPAR), according to January 2021 data from STR.
Texans displaced by freezing temperatures and outages pushed the state's occupancy to a 50-week high, according to an analysis by STR.
Short-term rentals in Miami, Nashville and Philadelphia showed mixed performance results during January 2021, according to data from STR. Short-term rentals continued to post higher occupancy levels than hotels in each of the three markets.
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.
According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the close of 2020, Europe's hotel construction pipeline increased 2% by projects and 3% by rooms year-over-year (YOY) to end the fourth quarter with 1,905 projects and 307,093 rooms, a record high project and room count for the region.
