The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 26 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.20-26 October 2024 (percentage change from comparable week in 2023):
Just days before a national election with global implications, North Americans are weighing in on another increasingly complex topic – traveling abroad. International marketing firm MMGY, in partnership with the United States Tour Operators Association (USTOA), revealed today the findings of the 2024 Portrait of American and Canadian International TravelersTM study. The survey reveals that, among those who plan to take at least one international vacation during the next two years, American travelers intend to spend an average of $11,906 on international travel annually while Canadians plan to spend approximately $8,222 annually.
A new report released today by Amadeus in collaboration with UN Tourism reveals continued growth in demand for travel to destinations across the Americas, despite economic and geopolitical challenges.
The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 19 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
The volume of U.S. hotel rooms under construction increased year over year for a seventh consecutive month, according to CoStar’s latest September 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.U.S. Hotel Pipeline September 2024 (percentage change from September 2023)
Canada’s hotel industry recorded its first month-over-month occupancy decline since January 2024, according to CoStar’s September 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
2024 has been a turbulent year thus far as we have witnessed dramatic national and global events that may very well alter the course of history. During this past quarter alone:
American outbound travel was much stronger than anticipated across European markets this year, in part due to mega events such as the Summer Olympics and Taylor Swift’s Eras Tour. With the summer months past us, conversations are now swirling around how the U.S. presidential election will impact tourism outside of North America.
The U.S. hotel industry reported mixed performance results from the previous month, according to September 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Helped by the Columbus Day/Indigenous Peoples' Day calendar shift, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 12 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.6-12 October 2024 (percentage change from comparable week in 2023):
To support residents who have been displaced from their homes or forced to evacuate by Hurricanes Helene and Milton, Airbnb.org is working with the Florida United Methodist Conference (FLUMC), United Way, Global Empowerment Mission (GEM), and 211 contact centers in Florida, North Carolina, South Carolina, and Georgia to offer free, temporary housing. Stays are completely free for guests and are funded by Airbnb.org and the generosity of Airbnb hosts — many of whom offer their home for free or at a discount through Airbnb.org.
Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 5 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Cendyn’s Sales Intelligence platform, previously known as Knowland, shares its monthly data findings for hoteliers to gain insight into the top locations selected by today’s meeting planners. Cendyn reports that Las Vegas ranked first in the top 25 markets with 34.2 percent year-over-year (YoY) growth, positioning it in the top five markets for eight consecutive months; however, Chattanooga, Tenn. ranked in the top five secondary markets for the first time, coming in second with 62.7 percent meeting volume growth. Louisville, Kentucky, headed up secondary markets with 80.4 percent YoY growth. This data is sourced from Cendyn’s Sales Intelligence platform, designed to help hoteliers protect and grow their revenue base.
Throughout the latter part of the 20th century, golf was growing significantly in the United States. Not only was participation soaring, but new golf courses were being built at a record pace. In some years, development activity exceeded 400 new courses.
U.S. hotel revenue per available room (RevPAR) rose 3.9% year over year (YoY) in August, following a lackluster July. Growth was driven by average daily rate (ADR), which increased 2.3%. For the first time since February, the ADR increase was nearly equal to the monthly rate of inflation (2.5%). After two months of declines, occupancy improved by 1ppt to 66.9%, which was 4.1ppts below August 2019.
The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 28 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Lower inflation, continued job creation, and the anticipated benefits of the recent cut in the federal funds rate provide a foundation for optimism about the U.S. economy. In the lodging sector, as different markets and segments continue to post varying results, we anticipate the overall trend of positive, albeit muted, growth to persist in the near term.
For Denver hotels, the first five months of 2024 were somewhat volatile, with March declines being offset by April gains. This trend can be partially attributed to Easter falling in March this year. After two months of RevPAR declines in Denver in June and July, August was a stellar month for the city’s hotels, with the RevPAR increase nearing 10%. However, the declines in June and July resulted in little growth for the city in the summer of 2024, as overall RevPAR growth through August is less than 0.5%.
The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 21 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.15-21 September 2024 (percentage change from comparable week in 2023):
The U.S. hotel industry reported lower performance results from the previous month but positive comparisons year over year, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.