Page 4 - Upper Upscale News Today

Article - STR Commentary on U.S. Performance for October 2023 - RevPAR growth decelerated on falling demand due mostly to a calendar shift. Both TRevPAR and GOPPAR showed the highest year-over-year growth since March.

Article - Weekly Global Hotel Performance Trends from STR: 5-11 November 2023 - Global occupancy, excluding the U.S., also improved following a year-over-year decline the week before. Occupancy increased 3.9ppts WoW to 68%. Year over year, occupancy also continued to improve at a much faster rate than the U.S., increasing 7ppts compared to the same week last year. Weekly global ADR increased 10% YoY, keeping RevPAR growth in double figures (+17.6%).

The real estate services firm’s annual hotel operator survey saw international and regional hotel operators – all of which are active in France – give their views on sector opportunities and challenges in the market.  

U.S. hotel industry occupancy (59.7%) took an expected step back, decreasing 2.5 percentage points (ppts) from last year. In line with historical trends, that was a predicted outcome due to Halloween falling on Tuesday. The last time Halloween fell on a Tuesday was in 2017, and occupancy decreased 2.6 ppts year over year.

Article - Weekly Global Hotel Performance Trends from STR: 29 October - 4 November 2023 - While lower than a week prior, global occupancy, excluding the U.S., was up 4.2ppts year over year to 64.1%. Occupancy fell 6ppts versus the previous week, which is better than the 6.8ppts drop seen the last time Halloween was on a Tuesday (2017).

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.

Findings from the Cushman and Wakefield Operator Beat 2023 indicate that capital cities throughout Europe continue to hold their allure for operators, with the recent addition of Vienna to this esteemed list. Notably, City markets in France, Germany, Benelux, and Turkey have experienced a surge in operator interest since 2021.

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.

U.S. hotel industry occupancy increased 0.9 percentage points (ppts) week over week to 68.5% but was down 1.6ppts versus last year. The year over year softness was somewhat surprising given the week had the most schools out of session for fall break, according to STR’s School Break Report, and it included the Columbus/Indigenous Peoples’ Day holiday.

Article - Weekly Global Hotel Performance Trends from STR: 8-14 October 2023 - Global occupancy, excluding the U.S, fell slightly WoW (-0.6ppts) to 68.9%. The decrease was in line with seasonal trends as calendar shifts impact global occupancy week over week, particularly in the last months of the year. However, global occupancy continued to grow versus last year, up 6.1ppts.