With the Martin Luther King Jr. holiday, U.S. hotel performance came in slightly lower than the previous week, according to STR‘s latest data through 21 January.
First Hospitality grows hotel portfolio 25% in 2022
First Hospitality, a national hotel operating and development company, realized significant growth in 2022, increasing hotels under management by 25%. The company expanded into three new markets, bringing First Hospitality’s diverse portfolio of branded and independent properties to over 50 hotels across 11 states.
Canada hotels achieved record-high ADR and RevPAR in 2022
Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were the highest for any year on record, according to STR‘s 2022 data.
WTTC and Trip.com Group global traveller report reveals shift towards sustainable travel
A major new report by World Travel & Tourism Council (WTTC) and Trip.com Group, together with Deloitte, reveals a heightened appetite for sustainable tourism amongst consumers, with 69% of travellers actively seeking sustainable travel options.
Most global regions showed full RevPAR recovery in 2022
Among the global regions, Asia saw the only decline in revenue per available room (RevPAR) from 2019, according to 2022 data from STR.
Radisson Hotel Group enters 2023 with strong foundation for growth
Radisson Hotel Group has paved the way for a strong 2023 by strengthening its foothold in Asia Pacific, doubling the number of signings in 2022, celebrating new openings, and announcing market entrances. Last year, growth in priority markets was spearheaded by highly localized strategies which included the establishment of dedicated Business Units with on-the-ground teams to enhance support for the Group’s owners and partners in their time zones and local languages.
Marriott, Hilton, and IHG close Q4 2022 with largest projects counts
As reported in the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE) for 2022, the franchise companies with the largest construction pipelines at the end of Q4 are led by Marriott International (Marriott) with 1,490 projects/180,113 rooms. Following Marriott is Hilton Worldwide (Hilton) with 1,378 projects/154,790 rooms and InterContinental Hotels Group (IHG) with 789 projects/78,951 rooms. Combined, these three companies account for 67% of the projects and 64% of the rooms in the total pipeline.
Dallas is tops with the largest hotel construction pipeline in the U.S.
According to the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the U.S. market with the largest hotel construction pipeline by projects is Dallas with a record high count of 176 projects, accounting for 20,790 rooms. Following Dallas is Atlanta with 145 projects/18,100 rooms, Los Angeles with 122 projects/19,419 rooms, Phoenix with 116 projects/16,229 rooms, and Nashville with 106 projects/14,198 rooms.
U.S. hotel ADR and RevPAR reached record highs in 2022
The U.S. hotel industry reported average daily rate (ADR) and revenue per available room (RevPAR) that were the highest for any year on record, according to 2022 data from STR.
Project and Room Counts in all stages of the U.S. hotel construction pipeline increase year-over-year at Q4 2022 close
In the most recent Construction Pipeline Trend Report for the United States (U.S.) from Lodging Econometrics (LE), at the close of 2022’s fourth quarter, the U.S. construction pipeline stands at 5,465 projects/650,626 rooms, up 14% by projects and 12% rooms Year-Over-Year (YOY).
