Reports

Report Development

April 29, 2009

U.S. Hotel Construction Pipeline Decelerating Rapidly

In Q1 2009, the US Construction Pipeline decelerated rapidly and now stands at 4,918 projects / 619,431 rooms. Compared to the Pipeline peak in Q2 2008, this is a drop of 16% by projects and 21% by rooms, a substantial fall-off for a three-quarter period. Current pipeline trends are beginning to reflect the deep recession in the economy, the banking crisis, the evaporation of mortgage lending, and serious shortfalls in lodging operating performance.

Lodging Econometrics

April 29, 2009

STR releases updated projections for 2009 and 2010

STR projects a 9.8-percent year-over-year decline in revenue per available room for 2009, and it expects a 1.5-percent increase in 2010, according to the latest data released from the Hendersonville-based company. A difficult environment resulted in a 17.7-percent RevPAR decline in the first quarter of 2009 and led to the company revising its forecast. STR expects the second quarter to continue to be challenging before the industry’s performance slows its slide during the third and fourth quarters.

April 24, 2009

STR posts U.S. Hotel Performance for March 2009

The U.S. hotel industry posted declines in all three key performance measurements during March 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy in March fell 11.6 percent to end the month at 55.2 percent (62.5 percent in March 2008). Average daily rate dropped 9.6 percent to finish the month at US$99.42 (US$109.97 in March 2008). Revenue per available room for the month decreased 20.0 percent to finish at US$54.93 (US$68.69 in March 2008).

April 24, 2009

STR posts U.S. results for week ending 18 April 2009

The U.S. hotel industry posted declines in three key performance measurements during the week of 12-18 April 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 10.7 percent to end the week at 57.4 percent. Average daily rate dropped 10.3 percent to finish the week at US$97.25. Revenue per available room for the week decreased 19.9 percent to finish at US$55.83.

April 22, 2009

Resort downturn accelerates during troubled economy

Since 2005, resort properties throughout the United States have been experiencing declines in all three key hotel performance measures, as demand has decreased significantly. In light of the current economic state, this decline has become more severe. Teamed with the large supply increases throughout the resort segment, occupancy and revenue per available room seem to be declining further—though hopefully only for a short time. As can be seen from STR Global data, resort properties have endured huge declines of occupancy, average daily rate and RevPAR since 2007. The figures began to drop off slowly around 2005, decreasing severely into negative territory around 2008 when economic conditions began to worsen. Unfortunately, many resorts have succumbed to discounting, driving down ADR. With demand at an all-time low, many resort operators believe this is the only option for maintaining occupancy.

HotelNewsNow

Report

April 17, 2009

STR reports Canada performance for the week ending 11 April 2009

The Canadian hotel industry posted decreases in all three key performance measurements during the week of 5-11 April 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 20.8 percent to end the week at 49.2 percent. Average daily rate dropped 8.6 percent to finish the week at CAD$116.19. Revenue per available room for the week decreased 27.6 percent to finish at CAD$57.13.

See why hotels are switching to Mews

Ad #1 Hotel PMS

Revenue up. Manual work down. Hotels using Mews see 35% higher RevPAR and 45% more upsells. Book a free demo.

Mews

Ad Apply Now!

Radical Innovation Hospitality TECHNOLOGY

Radical Innovation is an initiative that challenges creative thinkers and visionaries in hospitality TECH to pioneer compelling innovations that fuel the future of the hospitality and travel industries.

Radical Innovation

April 10, 2009

STR posts U.S. results for week ending 4 April 2009

The U.S. hotel industry posted declines in all three key performance measurements during the week of 29 March-4 April 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 9.9 percent to end the week at 56.2 percent (62.3 percent in the comparable week in 2008). Average daily rate dropped 9.0 percent to finish the week at US$98.79 (US$108.59 in the comparable week in 2008). Revenue per available room for the week decreased 18.0 percent to finish at US$55.49 (US$67.68 in the comparable week in 2008).

April 7, 2009

Ernst & Young Survey Finds Major Global Hotel Operators Refocusing Operations, Fortifying Cash Positions to Navigate Downturn and Position for Future Growth

Hotel owners and management companies are accelerating efforts to fortify cash positions in a bid to survive the current downturn and to strategically position their businesses for mid-term and long-term growth, according to a survey by Ernst & Young LLP. "Many hotel enterprises have identified and continue to identify ways to more closely manage costs. They are intensifying their focus and practices around risks and controls, with an objective of emerging from the current downturn stronger. Those that are effective will remain competitive in the short-term, and will attract more capital and accelerate their growth in the next up-cycle," says Michael Fishbin, National Director, Ernst & Young LLP Hospitality Services Group.

Ernst & Young

April 3, 2009

STR reports U.S. data for week ending 28 March

The U.S. hotel industry posted declines in three key performance measurements during the week of 22-28 March 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 12.3 percent to end the week at 56.6 percent (64.6 percent in the comparable week in 2008). Average daily rate dropped 8.8 percent to finish the week at US$99.77 (US$109.34 in the comparable week in 2008). Revenue per available room for the week decreased 20.0 percent to finish at US$56.50 (US$70.61 in the comparable week in 2008).

April 3, 2009

Market Report: New York City

As the saying goes, the bigger they come, the harder they fall. And the New York City hotel market, which had started to achieve new peaks of performance, has tumbled badly since October 2008. Almost to the day that Lehman Brothers collapsed, the NYC hotel market has been weakening. But the weakness in the financial markets only tells part of the story. This article will examine the recent trends in New York hotel market conditions and provide some insight into what the future might hold.

HotelNewsNow

New York, New York, United States

April 3, 2009

STR reports Canada data for week ending 28 March

The Canadian hotel industry posted decreases in all three key performance measurements during the week of 22-28 March 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 3.8 percent to end the week at 57.5 percent. Average daily rate dropped 3.0 percent to finish the week at CAD$120.20. Revenue per available room for the week decreased 6.8 percent to finish at CAD$69.06.

March 26, 2009

Hotel Investment Activity in Canada Witnesses Significant Decline According to Colliers International Hotels’ Annual Report

The global credit crunch and the recession that followed have hit the Canadian hotel real estate sector, which experienced a 77 per cent decline in investment activity, falling to $1.1 billion over the past year, according to Colliers International Hotel’s 2009 Canadian Hotel Investment Report released today. The report also found the average price per room fell by 25 per cent to $116,500 in 2008 from $154,200 the previous year.

Colliers International

Report

March 13, 2009

STR releases weekly Canada hotel data

The Canadian hotel industry posted declines in all three key performance measurements during the week of 1-7 March 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 12.9 percent to end the week at 55.4 percent. Average daily rate dropped 3.4 percent to finish the week at CAD$125.95. Revenue per available room for the week decreased 15.8 percent to finish at CAD$69.83.

Radical Innovation Hospitality TECHNOLOGY

Ad Apply Now!

Radical Innovation

Technology Yesterday

Winnow Appoints Two Hospitality Industry Veterans to New Advisory Board

Winnow adds two hotel group CEOs to a new Advisory Board to guide global scaling of its AI food waste platform, targeting over $1 billion in prevented food waste across hotel and resort portfolios.

Winnow

Chicago, United States

Technology Yesterday

Mews powers Alexa MGMT's mission to put people back at the heart of Texas hospitality

Alexa MGMT adopts Mews PMS across six Texas boutique hotels to centralize operations, automate payments, and build a scalable tech foundation for portfolio growth.

Mews