The gradual recovery since May, more dynamic in southern Europe, coupled with cost control, drove an improvement in EBITDA in both the second quarter and first semester of 2021.
In the second quarter of 2021, analysts at Lodging Econometrics (LE) report that the top franchise companies with the largest construction pipelines are: Marriott International with 1,301 projects/170,847 rooms, Hilton Worldwide with 1,216 projects/139,172 rooms, and InterContinental Hotels Group (IHG) with 777 projects/78,929 rooms.
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “Since May, we have seen a clear recovery. Positive signs including the ramp up of vaccine roll out and the progressive reopening of borders will continue throughout the summer.
While no hotel escaped unscathed from the COVID-19 pandemic, extended-stay hotels reported some of the highest occupancies over the course of 2020.
With the U.S. in peak summer travel season, STR’s latest data through 17 July shows most states with solid gains in revenue per available rooms (RevPAR) on a total-room-inventory (TRI) basis.
According to Lodging Econometrics’ (LE) most recent construction pipeline trend report, at the close of the second quarter, the top five markets with the largest hotel construction pipelines are New York City, with 146 projects/25,232 rooms; Los Angeles with 135 projects/22,586 rooms; Dallas with 132 projects/16,183 rooms; Atlanta with 129 projects/17,845 rooms; and Nashville with 91 projects/12,703 rooms.
Nashville’s short-term rental industry posted 19-month highs in average daily rate (ADR) and revenue per available room (RevPAR), according to June 2021 data from STR.
London’s short-term rental industry recorded slightly lower performance levels from the previous month, according to June 2021 data from STR.
The COVID-19 pandemic was an unprecedented setback in Nashville’s growth, particularly within the lodging, convention, and tourism industries, similar to trends across the nation. According to STR, occupancy levels declined by 44% in 2020, while ADR contracted by 30%.
The trajectory of U.S. hotel performance for the first half of 2021 will not continue through the second half, but the recovery is clearly underway, according to Jan Freitag, national director for hospitality analytics at CoStar Group.
