Page 3 - Upper Upscale News Today

Super Bowl LVIII, hosted in Las Vegas, was responsible for the U.S. hotel industry’s strong year-over-year (YoY) growth in revenue per available room (RevPAR), which was up 3.9% and driven entirely by a 6.8% increase in average daily rate (ADR). U.S. occupancy fell 1.5 ppts as business slowed ahead of the big game. Without Las Vegas’ ADR contribution, U.S. ADR would have been flat compared to last year and RevPAR down 3%. It is important to note that this week’s data only runs through Satu...

A Pictorial Update on Our Latest Thoughts and the Facts and Figures Influencing Our Industry.

Article - Paris Summer Olympics: Three Key Trends to Consider - CoStar - Paris is expected to see a significant jump in July and August ADR. The impact will be especially pronounced across the luxury and upper upscale classes, which are forecasted at +8.7% and +72.7%, respectively.

December produced the lowest monthly RevPAR gain of 2023 (+0.3%). Remember, the year started with easy comparables due to the Omicron impact in Q1 2022, but performance growth softened as 2023 progressed due to calendar shifts, increased outbound travel, and other factors revealing the beginning of a return to normal industry patterns.

To help hotel developers and investors with their due-diligence process, CBRE Hotels Research collected more than 20 years, and analyzed ten years, worth of hotel key performance indicators (KPIs) disclosed in the SEC filings of six large public companies: Choice, Hilton, Hyatt, IHG Hotels & Resorts, Marriott and Wyndham. Combined, these companies had more than three million rooms or approximately 60% of total U.S. hotel supply at year-end 2022. Underlying data used to conduct this analysis ...

Year-over-year growth in RevPAR doubled to 2.4% compared to the 1.2% gain seen for October. The calendar was clean with equal numbers of weekdays and weekends, unlike the previous month when the calendar negatively impacted performance.

Article - STR Commentary on U.S. Performance for November 2023 - Year-over-year growth in RevPAR doubled to 2.4% compared to the 1.2% gain seen for October. The calendar was clean with equal numbers of weekdays and weekends, unlike the previous month when the calendar negatively impacted performance.

U.S. hotel occupancy reached 58.7%, up 4.5 percentage points (ppts) compared to the prior week as holiday leisure travel kicked in along with the return of end-of-year business and convention travel. Occupancy, however, was down 0.7 ppts versus last year. Average daily rate (ADR) increased 4.5% year over year (YoY), resulting in a 3.3% increase in revenue per available room (RevPAR). ADR has been driving RevPAR growth for most of 2023 even as occupancy has slipped. This is more evidence of hotel...

Year-over-year growth in RevPAR softened to +1.2% after coming in at +3% a month prior. Demand dropped 1.2%, which was the largest decrease since April. Like April, a calendar shift was largely responsible for the fall. Compared to last year, this October included one less Saturday (from five last year to four this year) and the gain of Halloween Tuesday.

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.