With lengthy lockdowns ending and travel restrictions easing, Australia’s hotel industry has seen recent improvement in hotel occupancy levels.
U.S. hotel results for week ending 30 October
As anticipated ahead of Halloween, U.S. hotel performance fell week over week.
Profitability in APAC well below pre-pandemic levels
The hotel industries in seven key Asia Pacific markets reported profitability levels well below pre-pandemic levels, with only Beijing above 40% of the 2019 comparable.
Labor costs brought U.S. hotel profitability down further in September
Estimated labor costs came in at 96% of the comparable level from 2019, which was the highest index of the pandemic-era.
Dallas tops the U.S. hotel construction pipeline in Q3
Top five markets with the largest total hotel construction pipelines by projects are: Dallas, Atlanta, Los Angeles, New York City, and Houston.
Marriott leads with the largest U.S. hotel construction pipeline
Franchise companies leading the U.S. construction pipeline with the greatest number of new construction projects are Marriott, Hilton and IHG.
Europeans more confident and relaxed about travel
Although the peak summer season has been left behind, the desire for travel remains strong across Europe.
Australians are “positive” about border reopening
As for where people would go would be influenced by their destination country’s COVID mitigation policies.
Chile hotel occupancy nearing pre-pandemic levels
Chile’s hotel occupancy reached 90% of the 2019 comparable.
Global hotel values fall due to pandemic but recovery anticipated by 2025
Hotel values are not expected to make a full return to pre-pandemic levels until 2023-25 with some regions across the globe showing faster recovery than others.
