U.S. hotel gross operating profit per available room (GOPPAR) improved slightly from prior months but remained in the low single digits, according to STR's January 2021 monthly P&L data release.
According to the latest published Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the hotel construction pipeline in the Middle East declined again to 542 projects/156,921 rooms.
Cost control at NH Hotel Group ketp recurring loses at €371 million despite the €1.18 billion revenue drop
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.
Excluding China, the Asia Pacific Construction Pipeline Stands at 1,732 Projects/368,820 Rooms at Year-End
According to analysts at Lodging Econometrics (LE) the Asia Pacific, excluding China, pipeline ended the fourth quarter of 2020 at 1,732 projects/368,820 rooms, down 10% by both projects and rooms year-over-year (YOY).
Here it is folks. The true picture of the impact of C19 on our beloved industry in 2020. From a performance perspective, we have never seen such significant declines across the board, especially at GOP level, whereby half of the destinations listed generated negative GOPPARs.
Mainland China's hotel industry performance showed improvement from last year's pandemic-affected Lunar New Year period, but still fell well short in comparison with 2019 levels, according to preliminary data from STR.
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.