Unstoppable India: Sabre data indicates strong growth potential with domestic travel already above 100% of pre-pandemic levels, and international quickly catching up, alongside major investments in the Indian travel marketplace
Key Asia Pacific hotel markets surpassed 2019 profitability levels in March
Further supporting recovery around the region, a majority of Asia Pacific’s key hotel markets surpassed their 2019 levels in gross operating profit per available room (GOPPAR), according to STR‘s March 2023 P&L data release.
U.S. hotel results for week ending 29 April
U.S. hotel performance showed mixed results from the previous week but remained up year over year, according to STR‘s latest data through 29 April.
2023 Australian Tourism Exchange opens on the Gold Coast
The 43rd edition of Tourism Australia’s largest annual trade event, the Australian Tourism Exchange 2023 (ATE23), has officially opened on the Gold Coast with around 2,300 delegates expected to take part in the event at the Gold Coast Convention and Exhibition Centre.
New Project announcements and record early planning project counts fuel Canada’s Hotel Construction Pipeline
As reported in the recently released Construction Pipeline Trend Report for Canada by Lodging Econometrics (LE), at the close of Q1 2023, the country’s hotel construction pipeline currently stands at 283 projects/37,683 rooms. Canada’s total construction pipeline increased 10% by projects and 5% by rooms year-over-year (YOY).
Marriott, Hilton, and IHG continue to dominate the U.S. Hotel Construction Pipeline
In the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International (Marriott) tops the charts with the greatest number of projects in the U.S. hotel construction pipeline, at Q1 2023, with 1,499 projects/181,377 rooms, followed closely by Hilton Worldwide (Hilton), with a record-high count of 1,436 projects/161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects/80,679 rooms. Combined, these three franchise companies comprise 68% of the projects in the total U.S. pipeline.
U.S. hotel TRevPAR highest on record in March
U.S. hotel total revenue per available room (TRevPAR) was the highest for any month on record, according to STR‘s March 2023 P&L data release.
Hotel transactions see 18% decline in 2022 as interest rates surge
Hotel transactions across Europe failed to show the recovery expected during 2022 as confidence was hit by the Russian invasion of Ukraine which fuelled huge increases in energy and food costs, a rise in overall inflation and higher interest rates.
Coronation, Eurovision driving hotel bookings in key U.K. markets
Multiple events in the U.K., including the King’s coronation and Eurovision, are driving hotel occupancy on the books in both London and Liverpool, according to STR’s Forward STAR data.
U.S. hotel results for week ending 22 April
U.S. hotel performance increased from the previous week, according to STR‘s latest data through 22 April.
