International tourist arrivals grew 4% from January to June 2019, compared to the same period last year, according to the latest UNWTO World Tourism Barometer published ahead of the 23rd World Tourism Organization General Assembly.
Europe’s Hotel Construction Pipeline Soars to Record Highs With Impressive Double-Digit Increases Year-Over-Year
Analysts at Lodging Econometrics (LE) report that Europe's hotel construction pipeline soared to record high counts in the second quarter of 2019 with 1,704 projects having 260,111 rooms, for a dramatic 23% increase in projects and 19% increase in rooms year-over-year (YOY).
The Baird/STR Hotel Stock Index dropped 6.6% in August to 4,561. Year to date through the first eight months of 2019, the index is up 12.1%.
The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 25-31 August 2019, according to data from STR.
The U.S. hotel industry reported mostly positive year-over-year results in the three key performance metrics during the week of 25-31 August 2019, according to data from STR.
Asia Pacific’s Hotel Construction Pipeline, Excluding China, Rises to a Record High in the Second Quarter of 2019
According to the recent report from analysts at Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, is at an all-time high and stands at 1,793 projects/393,732 rooms, up 3% and 7% respectively, year-over-year (YOY).
Globalization, the growing Millennial workforce, and disruption in suppliers, are new trends that are expected to have significant impact on the business travel industry according to new research out today from the Global Business Travel Association (GBTA) in partnership with Cvent.
Travel to and within the U.S. grew 3.2% year-over-year in July, according to the U.S. Travel Association's latest Travel Trends Index (TTI)—a slight rebound from June's nine-month low.
China’s Hotel Construction Pipeline Continues to Expand, Setting an All-Time High, Despite Economic Slowdown
Analysts at Lodging Econometrics (LE) report that at the end of the first half of 2019, China's total construction pipeline swelled to 2,991 projects/592,884 rooms, up 19% by projects and 7% by rooms year-over-year (YOY), both at all-time highs, amidst an economic slowdown.
Mainland Europe hotels have seen better months. A 5.0% decline in average room rate dropped RevPAR 3.2% year-over-year in July, and with total revenue not faring better, GOPPAR in the month was down an unsettling 9.