Skip to content

Search

Latest Stories

STR: ADR for U.S. hotels highest in February since August 2021

Miami experienced the highest occupancy level among top 25 markets

STR:  ADR for U.S. hotels highest in February since August 2021

ADR FOR U.S. hotels was the highest in February for any month since August 2021, according to STR. The U.S. hotel industry reported higher performance during the month from the month before.

Occupancy was 56.9 percent for February, up from 47.8 percent in January and down 8.2 percent compared to same period in 2019. ADR was $137.39 for the month, increased from $123.51 the prior month and up 6.8 percent from the same month two years ago. RevPAR was $78.24, up from $58.98 in January and down 1.9 percent from two years ago.


The February ADR level was roughly 5 percent below the 2019 level when adjusted for inflation, the report said.

According to the report, STR's top 25 markets showed higher occupancy and ADR in February than all other markets. Miami experienced the highest occupancy level at 81.6 percent, down 3 percent from 2019.

Norfolk/Virginia Beach posted the only occupancy increase, up 3 percent to 52.1 percent, over 2019. Lowest occupancy was reported in Minneapolis at 41.7 percent and Chicago at 43.8 percent.

San Francisco/San Mateo reported the steepest decline in occupancy at 40.5 percent when compared to 2019.

Recently, STR reported that U.S. hotel performance was up in the second week of March from the week before.

More for you

AHLA Foundation expands hospitality education

AHLA Foundation expands hospitality education

Summary:

  • AHLA Foundation is partnering with ICHRIE and ACPHA to support hospitality education.
  • The collaborations align academic programs with industry workforce needs.
  • It will provide data, faculty development, and student engagement opportunities.

THE AHLA FOUNDATION, International Council on Hotel, Restaurant and Institutional Education and the Accreditation Commission for Programs in Hospitality Administration work to expand education opportunities for students pursuing hospitality careers. The alliances aim to provide data, faculty development and student engagement opportunities.

Keep ReadingShow less
Report: Global RevPAR to rise 3–5 percent in 2025

Report: Global RevPAR to rise 3–5 percent in 2025

Summary:

  • Global hotel RevPAR is projected to grow 3 to 5 percent in 2025, JLL reports.
  • Hotel RevPAR rose 4 percent in 2024, with demand at 4.8 billion room nights.
  • London, New York and Tokyo are expected to lead investor interest in 2025.

GLOBAL HOTEL REVPAR is projected to grow 3 to 5 percent in 2025, with investment volume up 15 to 25 percent, driven by loan maturities, deferred capital spending and private equity fund expirations, according to JLL. Leisure travel is expected to decline as consumer savings tighten, while group, corporate and international travel increase, supporting RevPAR growth.

Keep ReadingShow less
Hotel data challenges report highlighting AI and automation opportunities in hospitality

Survey: Data gaps hinder hotel growth

Summary:

  • Fragmented systems, poor integration limit hotels’ data access, according to a survey.
  • Most hotel professionals use data daily but struggle to access it for revenue and operations.
  • AI and automation could provide dynamic pricing, personalization and efficiency.

FRAGMENTED SYSTEMS, INACCURATE information and limited integration remain barriers to hotels seeking better data access to improve guest experiences and revenue, according to a newly released survey. Although most hotel professionals use data daily, the survey found 49 percent struggle to access what they need for revenue and operational decisions.

Keep ReadingShow less
Hyatt Way partnership

Hyatt taps Way for unified guest platform

Summary:

  • Hyatt partners with Way to unify guest experiences on one platform.
  • Members can earn and redeem points on experiences booked through Hyatt websites.
  • Way’s technology supports translation, payments and data insights for Hyatt.

HYATT HOTELS CORP. is working with Austin-based startup Way to consolidate ancillary services, loyalty experiences and on-property programming on one platform across its global portfolio. The collaboration integrates Way’s system into Hyatt.com, the World of Hyatt app, property websites and FIND Experiences to create a centralized booking platform.

Keep ReadingShow less
Report: CMBS delinquency rate hits 7.23 percent in July

Report: CMBS delinquency rate hits 7.23 percent in July

Summary:

  • U.S. CMBS delinquency rate rose 10 bps to 7.23 percent in July.
  • Multifamily was the only property type to increase, reaching 6.15 percent.
  • Office remained above 11 percent, while lodging and retail fell.

THE U.S. COMMERCIAL mortgage-backed securities delinquency rate rose for the fifth consecutive month in July, climbing 10 basis points to 7.23 percent, according to Trepp. The delinquent balance reached $43.3 billion, up from $42.3 billion in June.

Keep ReadingShow less