U.S. hotel performance increased from the previous week, according to STR‘s latest data through 11 February.
Europe’s tourism rebound predicted to continue into 2023
The outlook for travel to Europe is promising despite global pressures such as high inflation, the war in Ukraine and consequent energy crisis, and the looming economic recession. The latest data indicates a recovery of 75% of 2019 travel volumes to Europe in 2022. This strong tourism rebound is expected to continue well into 2023, though at a slower pace. Looking forward, international travel to Europe is forecast to reach pre-pandemic levels in 2025, while domestic travel will fully recover in 2024.
Amsterdam hotels showed typical seasonal slowing in January
In its first January without restrictions since 2020, Amsterdam hotel performance showed a typical season slowing from the months prior, according to preliminary January 2023 data from STR.
Abu Dhabi’s hotel performance remained steady in January
Abu Dhabi’s hotel occupancy remained roughly 5 percentage points lower than pre-pandemic levels, while average daily rate (ADR) and revenue per available room (RevPAR) far exceeded recent comparables for the month, according to preliminary January 2023 data from STR.
Bangkok hotels posted second-highest ADR on record in January
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.
