About 72% of Europeans intend to travel between April and September this year. Leisure remains the primary reason for travel (69%), though the drop of 7% over 2022 suggests a potential slowdown in post-pandemic ‘revenge’ travel. Business travel, in contrast, has recorded a 3% annual increase, now accounting for 8% of all intended trips.
Baird/STR Hotel Stock Index down 3.4% in March
The Baird/STR Hotel Stock Index dropped 3.4% in March to a level of 5,355.
Bogotá hotel industry reported highest RevPAR on record in March
Helped by an increase in business travel, Bogotá’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record according to preliminary March 2023 data from STR.
Europe’s key hotel markets showed improved profitability in February
Europe’s key hotel markets reported month-over-month improvement in gross operating profit per available room (GOPPAR), according to STR‘s February 2023 P&L data release.
VisitEngland announces 15 Local Visitor Economy Partnerships
VisitEngland has today announced 12 destinations to gain Local Visitor Economy Partnership (LVEP) status, in addition to the three North East Destination Development Partnership (DDP) pilot LVEPs announced earlier this year.
U.S. hotel results for week ending 1 April
Aligned with normal spring break patterns, U.S. hotel performance showed mix comparisons from the previous week, according to STR‘s latest data through 1 April.
Marriott International signs agreement to debut the iconic St. Regis Brand in Xiamen
Marriott International, Inc. today announced it has signed a management agreement with Shengyuan Cultural Tourism to bring the iconic St. Regis brand to Xiamen in 2027. This highly anticipated signing will debut the first St. Regis hotel in Fujian Province, which is expected to feature the brand’s celebrated rituals, glamorous spirit, storied heritage, and signature Butler Service.
IHG partners with Steps to employ people with disabilities in Thailand
IHG Hotels & Resorts, one of the world’s leading hotel companies, is proud to announce a landmark partnership with Steps – an organisation that empowers employers to realise the potential of neurodivergent people.
U.S. hotel GOPPAR highest since October 2022
U.S. hotel gross operating profit per available room (GOPPAR) exceeded the pre-pandemic comparable and was the highest since October 2022, according to STR‘s February 2023 P&L data release. EBITDA was the only key bottom-line metric on a per-available-room basis to come in lower than February 2019.
UNWTO unites South East Europe tourism ministers around shared sustainability goals
UNWTO celebrated the Future of Environmental Sustainable Tourism in Albania (FESTA), setting the foundations for unprecedented high-level collaboration among Tourism Ministers in the region (Tirana, 3-5 April).
