Markets & Performance USA & Canada Reports - Hospitality Net

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September 18, 2009

U.S.: What a Difference a Half Decade Makes | PKF Reports

The extended industry contraction that began in mid 2008 continues through the third quarter of 2009. Based on first half actual data from Smith Travel Research and the economic outlook from Moody’s Economy.com as of July of this year, the RevPAR change low point of the current cycle occurred during the second quarter of 2009. Is a recovery imminent? No. The August 2009 PKF Hospitality Research Hotel Horizons® forecast calls for record declines this year, and it will not be until 2011 that annual RevPAR levels increase.

September 10, 2009

PricewaterhouseCoopers Revised Forecast Reflects Improving Economic Conditions

PricewaterhouseCoopers (PwC) LLP updated US lodging forecast reflects improved economic conditions and a resumption of economic growth in the second half of 2009. While occupancy levels and average daily rates (ADR) in the second half of 2009 are expected to remain below year ago levels, resulting in a 16.1 percent decrease in room revenue per available room (RevPAR) in 2009, PricewaterhouseCoopers expects that average daily rates (ADR) will continue to decline in 2010. This rate weakness is expected to be off-set by a 1.1 percent increase in occupancy, resulting in stable RevPAR levels in 2010.

September 10, 2009

U.S. Hotel Occupancy Seen Higher, on Discounts | wsj.com

Hotel occupancy will likely gain strength in late 2009 and 2010, but profit will remain elusive as hotels continue to use heavily discounted rates to draw in more travelers, according to a revised U.S. lodging forecast from PricewaterhouseCoopers due out Thursday. The revision shows revenue down 16.1% in 2009 and flat revenue in 2010, compared with the company's June forecast of a revenue decrease of 15.7% in 2009 and a slight increase in 2010 revenue of 1.6%.

September 4, 2009

STR posts US results for week ending 29 August 2009

The U.S. hotel industry posted declines in all three key performance measurements during the week of 23-29 August 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 12.4 percent to end the week at 54.4 percent. Average daily rate dropped 11.0 percent to finish the week at US$94.01. Revenue per available room for the week decreased 22.0 percent to finish at US$51.10.

September 1, 2009

Rate Cutting: A look at canada

By Jason Wight, HVS Canada. As we have now passed the halfway mark of 2009, we can begin to see the impact that the global recession has had on the Canadian lodging industry. On a weekly and monthly basis, we continue to see declines in occupancy and RevPAR, and now, increasingly, average room rate. Cutting rates to get "heads in beds" does not stem the decline in demand but instead magnifies the decline in RevPAR. The performance of various markets in Canada bears witness of this truth.

August 28, 2009

HDC video: US Industry outlook (part 3) | hotelnewsnow.com

Scott Berman of PwC tells the tale of group travel in the third part of the Hotel Data Conference's U.S. industry outlook. Also check out part 1 with Mark Lomanno of Smith Travel Research, and part 2 with Mark Woodworth, PKF.

August 28, 2009

STR posts US results for week ending 22 August 2009

The U.S. hotel industry posted declines in all three key performance measurements during the week of 16-22 August 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 7.2 percent to end the week at 60.4 percent. Average daily rate dropped 10.2 percent to finish the week at US$95.70. Revenue per available room for the week decreased 16.7 percent to finish at US$57.84.

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August 25, 2009

STR reports US performance for July 2009

The U.S. hotel industry posted declines in all three key performance measurements during July, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 7.3 percent to end the month at 64.1 percent. Average daily rate dropped 9.1 percent to finish the month at US$97.18. Revenue per available room for the month decreased 15.7 percent to finish at US$62.34.

August 14, 2009

Declining U.S. lodging demand will end in Q2 2010 | PKF Reports

PKF Hospitality Research (PKF-HR) today announced that, according to an advance release of the September 2009 edition of Hotel Horizons®, nine consecutive quarters of declining lodging demand will come to an end in the second quarter of 2010.

August 11, 2009

Travel Intentions of Americans Improving According To Latest TravelHorizons Survey

The travel intentions of U.S. adults appear to be on the rise according to the latest travelhorizons(TM) survey, the nationally-representative survey that is co-authored quarterly by Ypartnership and the U.S. Travel Association. Almost two-thirds (63 percent) of U.S. adults expect to take at least one trip for leisure purposes between August 2009 and January, 2010, up from 61 percent who expressed the same intention in July 2008. Assuming Americans act on their stated intention, this will translate into an estimated 142 million U.S. adults taking at least one overnight trip during the next six months.

July 29, 2009

STR reports U.S. hotel industry performance results for first-half 2009

The U.S. hotel industry revenue per available room dropped 18.7 percent to US$53.87 percent for the first half of 2009 in year-over-year measurements, according to data from STR. In year-over-year measurements, the industry’s occupancy dropped 10.9 percent to 54.6 percent and average daily rate fell 8.7 percent to US$98.66.

July 27, 2009

U.S. Half-year performance reveals rays of light

As the U.S. lodging industry moves into the second half of 2009, it’s a good opportunity to review first-half market performance and look for clues to what’s ahead. By almost any measure, 2009 has been an extraordinarily challenging year. A weak economy combined with unemployment levels not seen in more than 25 years have been a gut shot to the hotel industry. Based on May year-to-date numbers, demand (rooms sold) declined more than 9 percent in the top 25 markets (excluding Las Vegas) and just under 8 percent in smaller markets (the remaining 136 U.S. markets tracked by Smith Travel Research). At the same time, room supply increased more than 3 percent in both the top 25 markets and all other markets. The combination of weak demand and above-long-term-trend supply growth pushed occupancy down nearly 12 percent in the top 25 and almost 11 percent elsewhere.

July 24, 2009

STR reports US performance for week ending 18 July 2009

The U.S. hotel industry posted declines in all three key performance measurements during the week of 12-18 July 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 8.9 percent to end the week at 66.2 percent. Average daily rate dropped 9.4 percent to finish the week at US$97.33. Revenue per available room for the week decreased 17.5 percent to finish at US$64.41.

July 17, 2009

Global pipeline tapers off in second half of year | hotelnewsnow.com

Ground-up development is rolling at Concord Hospitality. The Raleigh, North Carolina-based hotel management and development company added three new hotels to its 51-hotel portfolio in the past six weeks, and it expects to add at least six more by the end of the year.

July 17, 2009

STR reports U.S. performance for week ending 11 July 2009

The U.S. hotel industry posted declines in all three key performance measurements during the week of 5-11 July 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 9.7 percent to end the week at 60.3 percent. Average daily rate dropped 9.6 percent to finish the week at US$93.97. Revenue per available room for the week decreased 18.4 percent to finish at US$56.65.

July 10, 2009

Canadian hotel investment market expected to recover in 2010 according to Colliers International Hotels and HLT Advisory

According to a survey conducted by Colliers International Hotels and HLT Advisory, the economic recovery is unlikely to benefit the Canadian hotel industry until 2010. The survey of 325 hotel owners, managers and advisors found that 59 per cent of respondents anticipate seeing clear signs of economic recovery in 2010, with only one-fifth (19%) of respondents expecting a recovery this year.

Colliers International

July 10, 2009

Mark Woodworth, president of PKF Hospitality Research, Interviewed by Stacey Mieyal Higgins | hotelnewsnow.com

Mark Woodworth, president of PKF Hospitality Research, discussed the firm's revised forecasts during a break at the AH&LA Summer Summit.

July 10, 2009

STR posts US results for week ending 4 July 2009

The U.S. hotel industry posted declines in all three key performance measurements during the week of 28 June-4 July 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.0 percent to end the week at 57.7 percent. Average daily rate dropped 7.4 percent to finish the week at US$95.16. Revenue per available room for the week decreased 13.0 percent to finish at US$54.94.

June 15, 2009

STR reports U.S. hotel Pipeline for May 2009

The total active U.S. hotel development pipeline includes 4,907 projects with 522,778 rooms, according to the May 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 22.2-percent decrease in the number of rooms in the total active pipeline compared to May 2008. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.

June 12, 2009

STR posts Canada results for week ending 6 June 2009

The Canadian hotel industry posted decreases in all three key performance measurements during the week of 31 May-6 June, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 12.8 percent to end the week at 64.8 percent. Average daily rate dropped 14.8 percent to finish the week at CAD$130.18. Revenue per available room for the week decreased 25.8 percent to finish at CAD$84.30.