Bangkok’s hotel industry reported the second-highest monthly average daily rate (ADR) on record in the market, according to preliminary January 2023 data from STR.
U.S. hotel results for week ending 4 February
U.S. hotel performance fell slightly from the previous week, according to STR‘s latest data through 4 February.
Major hotel franchises companies move forward with construction projects in Europe
In the year-end 2022 Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that at the close of the fourth quarter, Europe’s total construction pipeline stands at 1,711 projects/260,911 rooms.
Amid financial stress, Europeans determined to keep their travel spend
The European Travel Commission (ETC) has today released its latest report on Monitoring Sentiment for Domestic and Intra-European Travel, providing insights into European travel plans in spring – summer 2023.
Phoenix forecasted for second-highest hotel RevPAR in Super Bowl history
Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend, according to STR.
Miami and Qatar markets led the world in hotel profit recovery in 2022
Miami and Qatar led the major global markets in hotel profit recovery for 2022, according to STR‘s full-year P&L data release.
Top three chain scales in the AP Hotel Construction Pipeline, excluding China, each hit peak project counts at the end of Q4
According to the Q4 2022 Construction Pipeline Trend Report for the Asia Pacific region, excluding China, from Lodging Econometrics (LE), the region’s total construction pipeline stands at 1,903 projects/404,222 rooms, up 5% by projects and 2% by rooms year-over-year (YOY).
U.S. hotel revenues, profits and labor costs reached record-highs in 2022
Total U.S. hotel revenues, profits and labor costs reached an all-time high, according to STR‘s P&L data for 2022. With more supply in the market, the key profitability metrics each came in lower than their pre-pandemic comparable on a per-available-room basis.
Upscale projects in China’s hotel construction pipeline reach new all-time high
In the recently released China Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that the country’s total hotel construction pipeline, at the close of the fourth quarter, stands at 3,581 projects/675,074 rooms.
Zanzibar set for first tourism investment summit
Zanzibar tourism stakeholders are all set for the first tourism investment summit to take place on the island later this month, targeting to connect tourism investors from East Africa, Africa, and other tourist market sources in the world.
