Reports

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%.

WSJ

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.

HVS

Canada

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.

HotelNewsNow

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.

Report Sales & Marketing

August 26, 2009

American Express Reports Q2 Business Travel Monitor Results for North America

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.

American Express

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The next-gen metrics that move hotel P&L

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Mews

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 21, 2009

STR posts US results for week ending 15 August 2009

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.

August 17, 2009

STR forecast: U.S. Supply growth to stifle RevPAR in 2010

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.

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.

CBRE Hotels

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.

MMGY Global

August 7, 2009

STR reports US performance for week ending 1 August 2009

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.

August 7, 2009

STR reports Canada performance for week ending 1 August 2009

The Canadian hotel industry posted decreases in all three key performance measurements during the week 26 July-1 August 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.5 percent to end the week at 69.9 percent. Average daily rate dropped 8.8 percent to finish the week at CAD$120.06. Revenue per available room for the week decreased 12.9 percent to finish at CAD$88.18.

Canada

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.

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Mews

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.

HotelNewsNow

July 24, 2009

STR reports US performance for June 2009

The U.S. hotel industry posted declines in all three key performance measurements during June, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 9.7 percent to end the month at 61.3 percent. Average daily rate dropped 9.9 percent to finish the month at US$96.77. Revenue per available room for the month decreased 18.6 percent to finish at US$59.34.

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.

Report Sales & Marketing

July 23, 2009

Global Business Travel Spend Projected to Exceed $986 Billion by 2013; China to Outpace U.S. in Growth

The National Business Travel Association (NBTA) and Egencia™, the corporate travel arm of Expedia Inc., today released a sample of findings from a landmark study that quantifies global business travel spend and projects business travel growth through 2013. Evaluating 72 countries, the study shows that business travel growth patterns vary dramatically across the globe with North America advancing at an average rate of just over 2 percent per year for the last decade, Western Europe growing 4.6 percent annually and Asia Pacific advancing by 7.2 percent annually over the same period. Emerging Europe and the Middle East/Africa region advanced annually by 12.4 percent and 7.7 percent, respectively, from 1998 to 2008.

GBTA

Report Sales & Marketing

July 23, 2009

US full-service hotels operating expense trends | Smith Travel Research

Smith Travel Research recently released its 2009 Hotel Operating Statistics (HOST) report. While reviewing a 10-year history of full-service hotels’ expenditures and revenues, several questions come to mind: How effectively has this segment of the hospitality industry been managing profitability during poor and strong economic cycles? During market downturns, how were expenses managed while revenues declined? Was profitability maximized during robust economic periods?