Data trends on cheapest hotel rates as well as median rate for three months of three, four and five star hotels across some of the major cities in US. This set covers March to May 2012, taken in the 4th Week of March 2012 (all rates are in US dollars for two adults for a one-night stay).
When we talk about "gateway" cities, Brooklyn is the real deal. Immigrants have come to the U.S. through Brooklyn for centuries, and the area's exponential expansion has resulted in approximately 2.5 million residents, 33,000 businesses, 410,000 employees, and a legacy of culture and commerce that continues to send out roots. New York's most populous borough offers lower operating costs and ample commercial and industrial space compared with Manhattan, two factors that have helped promote business growth and demand for area hotels.
Yes, most economic indices (including our Traveler Sentiment IndexTM) now suggest that demand for travel services will recover nicely in the year ahead, but this doesn't mean consumers are ready to pay higher fares and rates just yet. In fact, the results of our soon-to-be-released 2011 Portrait of American TravelersTM reveal that value remains in vogue, and that travelers are still focused on finding the best fares and rates when planning and purchasing travel services, whether for business or leisure. This should come as no surprise as the memory of their personal financial angst caused by the Great Recession still looms large.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 20-26 February 2011, according to data from STR. In year-over-year comparisons, occupancy increased 8.4 percent to 59.9 percent, average daily rate was up 3.4 percent to US$99.38, and revenue per available room finished the week up 12.1 percent to US$59.54.
The U.S. hotel industry reported single-digit increases in all three key performance metrics during the week of 23-29 January 2011, according to data from STR. In year-over-year comparisons, occupancy increased 6.7 percent to 52.0 percent, average daily rate was up 2.7 percent to US$97.63, and revenue per available room finished the week up 9.6 percent to US$50.75.
The U.S. hotel industry reported increases in all three key performance metrics for fourth-quarter 2010 in year-over-year measurements, according to data from STR.
The U.S. hotel industry reported single-digit increases in all three key performance metrics during the week of 26 December 2010-1 January 2011, according to data from STR.
The Hotel Industry's Pulse Index, or HIP, is a composite indicator that gauges business activity in the United States hotel industry in real-time, similar to a GDP measure for the industry. The latest monthly change brought the index to a reading of 89.9. The index was set to equal 100 in 2000.
As we close the books on 2010, many in the travel industry are likely to add the following refrain to their last chorus of Auld Lang Syne: “Are We There Yet?” If so, the simple answer is “well, almost.” Yes, monthly reports of new job losses have abated and the index of consumer confidence has displayed a modest upward trajectory in recent months. Yet according to the Ypartnership/Harrison Group Portrait of American Travelers(SM) and travelhorizons(TM) national surveys*, Americans remain cautious about spending on travel services in the year ahead. More specifically, their planning and purchasing behavior reflects a “New Frugal” attitude that is likely to prevail throughout the entire year, if not well into 2012.
The U.S. hotel industry posted increases in the three key performance measurements during the week of 12-18 December 2010, according to data from STR. In year-over-year measurements, the industry's occupancy rose 9.4 percent to 46.5 percent, average daily rate increased 4.1 percent to US$91.66, and revenue per available room went up 14.0 percent to US$42.61.
The recovery in the U.S. hotel sector will continue in 2011 and begin to accelerate in 2012, according to a new analysis from CB Richard Ellis Econometric Advisors (CBRE-EA). CBRE-EA forecasts that RevPAR1 for "full service" hotels will improve 1.6% over the next year and 4.4% over two years, rising to $94.21 in 3Q2011, and $98.34 in 3Q 2012. In the "limited service" category, RevPAR will grow 2.6% over the next year and 6.5% over two years, reaching $48.00 in 3Q 2011, and $51.12 in 3Q2012.
In year-over-year measurements, the industry's occupancy was up 9.0 percent to 53.3 percent. Average daily rate ended the month with a 2.5-percent increase to US$96.70. Revenue per available room for the month rose 11.8 percent to finish at US$51.54.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 5-11 December 2010, according to data from STR. In year-over-year comparisons, occupancy increased 8.6 percent to 52.2 percent, average daily rate was up 2.6 percent to US$98.75, and revenue per available room ended the week up 11.5 percent to US$51.56.
Jones Lang LaSalle Hotels today released its bi-annual Hotel Investor Sentiment Survey, which reveals that an increased 52 percent of investors indicated a dominant ‘buy’ strategy over the next six months. Concurrently, respondents exhibited a 13 percent decrease in ‘hold’ intentions—a shift that signals that transaction velocity will increase in 2011. The firm’s proprietary survey is directed toward the world’s 6,000+ leading hotel investors and owners.
The recovery of the U.S. lodging industry continues to improve, buoyed by a sustained expansion in the demand for hotel rooms across the country. Accordingly, Colliers PKF Hospitality Research (PKF-HR) has edged up its forecasts for U.S. hotel performance for 2010 and re-affirmed the outlook for 2011. In the recently released December 2010 edition of Hotel Horizons®, PKF-HR forecasts that lodging demand will grow 7.8 percent in 2010. This is nearly four times greater than the 2.0 percent increase in hotel supply, resulting in a record 5.7 percent rise in occupancy.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 21-27 November 2010, according to data from STR. In year-over-year comparisons, occupancy increased 7.0 percent to 43.6 percent, average daily rate was up 2.9 percent to US$87.53, and revenue per available room ended the week up 10.1 percent to US$38.16.
The U.S. hotel industry is projected to end 2010 with increases in two of the three key performance measurements, according to STR's forecast update. STR projects 2010 occupancy will increase 5.3 percent to 57.4 percent, average daily rate is expected to end the year virtually flat with a 0.1-percent decrease to US$97.92, and revenue per available room is projected to rise 5.2 percent to US$56.23.
In year-over-year measurements, the industry's occupancy was up 6.9 percent to 61.3 percent. Average daily rate ended the month with a 1.2-percent increase to US$100.89. Revenue per available room for the month rose 8.2 percent to finish at US$61.89.
In year-over-year comparisons, occupancy increased 11.1 percent to 58.4 percent, average daily rate was up 2.7 percent to US$98.77, and revenue per available room ended the week up 14.1 percent to US$57.65.
In year-over-year comparisons, occupancy increased 6.2 percent to 58.2 percent, average daily rate was up 1.9 percent to US$99.29, and revenue per available room ended the week up 8.2 percent to US$57.75.