Page 2 - Upper Midscale News Today

Article - Weekly Global Hotel Performance Trends from STR: 3 - 9 December 2023 - Global Occupancy, Excluding the U.S., Moved to 66.5%, Up 5.3ppts YoY and Flat from the Previous Week. Occupancy is Trending in Line with Pre-pandemic Norms As 2017, 2018 and 2019 All Showed a Similar Slowdown of Occupancy from Mid-November Toward the End of the Year.

Article - Weekly Global Hotel Performance Trends from STR: 12-18 November and 19-25 November 2023 - Global occupancy outside the U.S. continues to show year-over-year growth with the United Kingdom and Japan posting the strongest performance across the largest countries.

U.S. hotel industry occupancy increased 0.4 percentage points (ppts) compared to last year, reversing the course of year-over-year (YoY) declines of the previous three weeks. Weekends delivered the strongest gains (+1.0ppts) followed by weekdays (Monday – Wednesday: +0.6 ppts). The shoulder days (Sunday and Thursday) were down 0.4ppts.

Article - Weekly Global Hotel Performance Trends from STR: 15-21 October 2023 - The top 10 countries, based on supply, continued to see strong performance, with this week’s occupancy reaching 73.8%, up 10.8ppts from a year ago, with ADR and RevPAR growing 7.9% and 26.3%, respectively.

Article - U.S. Construction Pipeline Continues Its Steady Growth Trajectory with Upper Midscale & Extended Stay Projects Dominating the Pipeline at Q3 2023 - According to the most recent Construction Pipeline Trend Report for the United States by Lodging Econometrics (LE), at the close of Q3 2023, the total U.S. construction pipeline stands at 5,704 projects/672,676 rooms, up 7% Year-Over-Year (YOY) by projects and rooms.

In the first week of October, U.S. hotel industry occupancy climbed to 67.8%, which was just 0.1 percentage points (ppts) higher than last year. Remember, the comparable week last year included the Yom Kippur observance on Tuesday and Wednesday (4-5 October 2022).

Article - Weekly Global Hotel Performance Trends from STR: 1-7 October 2023 - Global occupancy, excluding the U.S, increased 0.8ppts week on week to 69.5%. As compared to last year, occupancy was up 6.8ppts, the largest year-over-year increase since May 2023. ADR climbed to US$161, up 18.7% YoY. RevPAR grew 31.5% to US$112.

The U.S. hotel industry closed September with weekly occupancy at 66.7%, up 0.5 percentage points (ppts) compared to last year. The impact of the Yom Kippur observance (24-25 September) had slightly less of an impact when compared to last year’s Rosh Hashanah observance (25-27 September 2022).

Article - Weekly Global Hotel Performance Trends from STR: 24-30 September 2023 - Global occupancy, excluding the U.S, fell 3.1ppts week on week to 69.0%. This is similar to the decrease seen in the same week of 2019 (-2.6ppts). As compared to last year, occupancy was up 4.6ppts, which was the same as a week prior. ADR climbed to US$159, up 18.5% YoY. RevPAR grew 26.9% to US$109 up 26.9%.

Dimension Hospitality today outlined plans for the company to enter a new period of growth fueled by technology and new leadership following the passing of company founder and industry icon, Sam Friedman.