The U.S. hotel industry posted declines in all three key performance measurements during the week of 20-26 September 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 7.2 percent to end the week at 59.8 percent. Average daily rate dropped 10.1 percent to finish the week at US$100.30. Revenue per available room for the week decreased 16.6 percent to finish at US$59.94.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 13-19 September 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 8.6 percent to end the week at 59.6 percent. Average daily rate dropped 10.5 percent to finish the week at US$98.34. Revenue per available room for the week decreased 18.3 percent to finish at US$58.57.
Demand probably has hit bottom in Los Angeles, but rates might still have a ways to go in what looks like a challenging immediate future for one of the country’s biggest hotel markets. The market posted an 11-percent decline in demand in 2009 through July, according to data compiled by Smith Travel Research. The drop in rate was slightly less at 10.8 percent.
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.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 6-12 September 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 14.6 percent to end the week at 52.8 percent. Average daily rate dropped 12.8 percent to finish the week at US$94.49. Revenue per available room for the week decreased 25.5 percent to finish at US$49.92.
The total active U.S. hotel development pipeline includes 4,384 projects with 475,521 rooms, according to the August 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 2.5-percent decrease in the number of rooms in the total active pipeline compared to July 2009 and a 27.9-percent decrease compared to August 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.
This monthly report provides Hitwise data on: (1) The websites That Entered and Left the Top 100 Travel Category websites - Top 20 websites for the past month based on visits - Most popular search terms typed into a search engine that resulted in traffic to websites classified by Hitwise within the Travel industry. (2) The Traffic Distribution Analysis of visits to the Travel category - The Visits Duration Analysis to the Travel Category - Fast Movers - indicating websites which have witnessed substantial increases in rank in the online Travel industry
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.
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%.
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.
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.
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.
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.
At the National Business Travel Association Conference, American Express Business Travel, a global leader in business travel management, released its North America Business Travel Monitor (BTM) data and analysis including domestic and international airfare, hotel rates, and car rental prices paid for the second quarter of 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.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 9-15 August 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.9 percent to end the week at 63.9 percent. Average daily rate dropped 9.9 percent to finish the week at US$96.70. Revenue per available room for the week decreased 16.2 percent to finish at US$61.80.
RevPAR declines are expected to continue into the convention season according to STR’s revised monthly forecast. The company also revised its forecasts for year-end 2009 and 2010.
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.
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.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 26 July-1 August 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.4 percent to end the week at 66.5 percent. Average daily rate dropped 9.6 percent to finish the week at US$97.48. Revenue per available room for the week decreased 15.5 percent to finish at US$64.86.