The U.S. hotel industry posted declines in all three key performance measurements during the week 6-12 December 2009, according to data from STR. In year-over-year measurements, the industry's occupancy fell 2.9 percent to end the week at 48.1 percent. Average daily rate dropped 5.9 percent to finish the week at US$96.04. Revenue per available room for the week decreased 8.6 percent to finish at US$46.22.
PKF Hospitality Research (PKF-HR) today announced that, according to its December 2009 edition of Hotel Horizons, the pace of recovery of the U.S. lodging industry has accelerated from previous expectations. Improving industry data for such key indicators as occupancy, RevPAR, and demand suggest that the recovery will arrive a full quarter earlier than the firm expected in September 2009. These improvements are reflected in the firm’s updated forecasts for 2009 and 2010 in its just published December issue of Hotel Horizons.
The total active U.S. hotel development pipeline includes 3,939 projects comprising 417,412 rooms, according to the November 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 33.9-percent decrease in the number of rooms in the total active pipeline compared to November 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.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 29 November-5 December 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.9 percent to end the week at 47.6 percent. Average daily rate dropped 7.3 percent to finish the week at US$96.25. Revenue per available room for the week decreased 11.9 percent to finish at US$45.86.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 29 November-5 December, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 5.4 percent to end the week at 55.8 percent. Average daily rate dropped 3.5 percent to finish the week at CAD$119.41. Revenue per available room for the week decreased 8.7 percent to finish at CAD$66.61.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 22-28 November 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 1.7 percent to end the week at 40.7 percent. Average daily rate dropped 6.7 percent to finish the week at US$84.81. Revenue per available room for the week decreased 8.4 percent to finish at US$34.54.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 22-28 November, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 6.4 percent to end the week at 55.8 percent. Average daily rate dropped 3.0 percent to finish the week at CAD$119.50. Revenue per available room for the week decreased 9.2 percent to finish at CAD$66.66.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 15-21 November 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 2.8 percent to end the week at 52.7 percent. Average daily rate dropped 7.6 percent to finish the week at US$95.85. Revenue per available room for the week decreased 10.1 percent to finish at US$50.55.
Without question, 2009 has been a year of considerable challenge for practically every travel service provider. So, as the year comes to a close, our thoughts turn to the year ahead with the hope that market conditions will improve. And for some in the industry, just "stabilize" would come as welcomed relief. The results of our most recent travelhorizonsTM survey (which we co-author every 90 days with the U.S. Travel Association) suggest we’re not out of the woods yet, however. And, not surprisingly, value will be in vogue once again.
The U.S. hotel industry posted declines in all three key performance measurements during October, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.2 percent to end the month at 58.1 percent. Average daily rate dropped 8.2 percent to finish the month at US$99.08. Revenue per available room for the month decreased 13.8 percent to finish at US$57.57.
As part of its monthly forecast program, STR is projecting the U.S. hotel industry will report increases in all three key metrics in 2011. STR’s forecast projects 2011 occupancy to be up 2.4 percent to 56.2 percent, average daily rate to increase 3.0 percent to US$96.81, and revenue per available room to jump 5.5 percent to US$54.41.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 8-14 November 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.4 percent to end the week at 52.6 percent. Average daily rate dropped 9.9 percent to finish the week at US$95.86. Revenue per available room for the week decreased 15.7 percent to finish at US$50.47.
Smith Travel Research classifies nearly 2,200 U.S. hotels representing about 301,000 rooms as “airport” locations. These hotels usually are within three miles of an airport and primarily serve demand generated by airport traffic. Based on the 12 months ending September 2009, airport hotels generated more than US$6 billion in room revenue, about 6 percent of the U.S. total. More than 40 percent of airport hotel rooms are classified as upper-upscale or upscale, with another 18 percent falling into the midscale-without-food-and-beverage segment.
Economic research firm e-forecasting.com, in conjunction with Smith Travel Research, has announced the Hotel Industry’s Pulse index edged back up in October after hitting a snag the previous month. After stalling in September with a decline of 0.7 percent, the Hotel Industry’s Pulse index, or HIP, went up 0.2 percent in October. HIP is a composite indicator that gauges business activity in the U.S. hotel industry in real-time, similar to a gross domestic product measure for the industry. The latest monthly change brought the index to a reading of 81.0. The index was set to equal 100 in 2000.
Hotel managers are not the only party at the negotiating table struggling to control costs and operate within the limits of austere budgets. Meeting planners have also been given the challenge of setting up effective events at the least possible cost.
While the tourism, hospitality and leisure (THL) sector continues to be challenged by current economic conditions, a new survey from Deloitte suggests reason for cautious optimism heading into the holiday and winter travel season.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 1-7 November, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 9.6 percent to end the week at 59.1 percent. Average daily rate dropped 3.7 percent to finish the week at CAD$122.13. Revenue per available room for the week decreased 13.0 percent to finish at CAD$72.21.
PricewaterhouseCoopers updated U.S. lodging forecast, released today, reflects performance during the initial stages of economic recovery and the continued expectation that lodging demand will begin to recover in 2010. While occupancy levels and average daily rates (ADR) in the last quarter of 2009 are expected to remain below levels from one year ago, resulting in a 16.4 percent decrease in room revenue per available room (RevPAR) in 2009, PricewaterhouseCoopers expects hotel occupancy rates will increase in 2010. However, 2010 ADR levels are expected to remain below 2009 room rate levels.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 25-31 October 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 7.2 percent to end the week at 51.8 percent. Average daily rate dropped 7.2 percent to finish the week at US$98.99. Revenue per available room for the week decreased 13.8 percent to finish at US$51.28.
In year-over-year measurements, the industry’s occupancy decreased 6.7 percent to 55.7 percent, ADR dropped 6.4 percent to CAD$122.77, and RevPAR decreased 12.6 percent to CAD$68.40.