Each week, STR analysts provide a deep-dive into U.S. hotel performance. The most recent video, highlighting performance for 14-20 June, is linked below.Key highlights:
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 15-21 June, is linked below.Key highlights:
STR data for 14-20 June 2020 shows Canadian hotel performance up slightly from previous weeks with the same significant level of year-over-year declines.
STR's latest monthly P&L data release shows U.S. hotel gross operating profit per available room down 110.1% in May. That percentage change was a slight improvement from April's decline of 116.9%. Additionally, limited-service properties showed positive profitability on average when surpassing 45% occupancy.
MMGY Myriad And Travel Market Report Collaborate On COVID-19 Sentiment Tracking Study Of Travel Advisors
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U.S. hotel performance data for the week ending 20 June showed another small rise from previous weeks and less severe year-over-year declines, according to STR.
A new survey conducted by Morning Consult commissioned by the American Hotel & Lodging Association (AHLA) found that while Americans remain hesitant about traveling, they overwhelmingly support efforts by Congress to help the travel industry recover including helping hotels keep their doors open and bring back employees, as well as incentivizing Americans to travel again.
European hoteliers breathed a sigh of relief in early May when the European Centre for Disease Prevention and Control (ECDC) announced that region had passed the peak of coronavirus infections. Now comes the hard part: building back revenue and profitability.
Asia-Pacific hotels may have reached their bottom. And that's a good thing. Gross operating profit per available room (GOPPAR) in May showed its first month-over-month (MOM) since December 2019, up 78.
It's baby steps back to profitability, but amid a pandemic, no bad news is good news. Though the global hospitality industry is still in critical condition, it appears to be coming off life support and moving to intensive care, given the extraordinary circumstances foisted by COVID-19.