Hospitality Sales and Marketing Association International
Hospitality Sales and Marketing Association International
 
Hospitality Sales and Marketing Association International
research reports

2016

November

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Las Vegas Casino & Hotel Market Outlook 2016 | By Shannon Okada and Bomie Kim
Las Vegas lives on reputation. A city of enticement, its draws include world-renowned institutions and venues for gambling, dining, entertainment, conventions and meetings, and high-end shopping. Gaming, both in terms of visitors who come to gamble and gaming wins per visitor, is evidently in decline in the market. Hence, there is a continuing need for casino owners and hoteliers in Las Vegas to track and focus on other ways in which visitors create revenue. The generation of more non-gaming revenue should make the market better equipped to withstand future economic downturns.

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STR: US hotel results for week ending 19 November
The U.S. hotel industry reported positive results in the three key performance metrics during the week of 13- 19 November 2016, according to data from STR.In year-over-year comparisons, the industry's occupancy rose 4.5% to 65.8%. Average daily rate (ADR) increased 4.6% to US$122.02. Revenue per available room (RevPAR) grew 9.2% to US$80.25.Among the Top 25 Markets, New Orleans, Louisiana, posted the largest year-over-year increases in ADR (+15.9% to US$163.82) and RevPAR (+28.9% to US$123.41). Occupancy in the market grew 11.3% to 75.3%.Three additional markets saw a RevPAR increase of 20.0% or more: San Diego, California (+23.0% to US$114.34); St. Louis, Missouri (+20.3% to US$68.90); and Los Angeles/Long Beach, California (+20.0% to US$143.37). Overall, 15 of the Top 25 Markets experienced double-digit RevPAR growth.After New Orleans, three other markets recorded a double-digit rise in ADR: Los Angeles/Long Beach (+10.9% to US$172.71); Phoenix, Arizona (+10.7% to US$129.40); and Boston, Massachusetts (+10.2% to US$208.52).Norfolk/Virginia Beach, Virginia, registered the week's largest increase in occupancy (+15.6% to 56.1%). Aside from the aforementioned New Orleans, two additional markets saw a double-digit lift in the metric: St. Louis (+13.5% to 67.7%) and San Diego (+13.3% to 77.0%).Miami/Hialeah, Florida, reported the steepest declines in ADR (-9.5% to US$169.91) and RevPAR (-18.4% to US$126.55). Occupancy in the market dropped 9.9% to 74.5%.Houston, Texas, saw the only double-digit decrease in occupancy (-10.4% to 63.3%) and the only other double-digit decline in RevPAR (-15.7% to US$67.31).

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STR: Central/South America hotel performance for October 2016
Hotels in the Central/South America region reported mostly negative results in the three key performance metrics when reported in U.S. dollar constant currency, according to October 2016 data from STR.Compared with October 2015, the Central/South America region reported a 6.6% decrease in occupancy to 56.5%. Average daily rate (ADR) was up 0.9% to US$89.76. Revenue per available room (RevPAR) dipped 5.8% to US$50.75. Performance of featured countries for October 2016 (local currency, year-over-year comparisons):Chile reported declines across the three key performance metrics. Occupancy fell 5.5% to 68.1%, ADR dropped 11.1% to CLP123.22 and RevPAR declined 16.0% to CLP83.88. The country experienced a 3.6% decline in demand after three consecutive months of demand growth. Santiago, the capital city, was hit the hardest, with a 7.2% drop in occupancy and a 17.9% decrease in ADR. STR analysts attribute the performance in part to sluggish economic conditions linked with the mining sector.Ecuador saw a 1.3% increase in occupancy to 68.8%, and an inflation-driven 22.1% rise in ADR to US$123.90 pushed RevPAR up 23.8% to US$85.21. STR analysts note that strong supply growth (+2.9%) was outpaced by demand growth (+4.3%) during the month, helped by Habitat III, the United Nations' Conference on Housing and Sustainable Urban Development (17-20 October).Peru reported decreases in each of the three key metrics. Occupancy fell 2.5% to 70.5%, ADR dropped 23.9% to PEN436.10 and RevPAR fell 25.8% to PEN307.49. STR analysts attribute the country's performance declines to a 29.4% fall in Group demand (bookings of 10 or more rooms) and a comparison with a strong month in 2015 when the country hosted annual meetings of the World Bank Group and the International Monetary Fund.Performance of featured markets for October 2016 (local currency, year-over-year comparisons):Buenos Aires, Argentina, posted 86.3% growth in RevPAR to ARS1,448.71 as a result of a 7.8% increase in

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U.S. Hotel Profit Recession Probability Hits 71% in November
Hotel room rates in the top-25 most popular U.S. destinations are averaging $190.37 this November, down from $219.06 in October, according to online hotel room price indices from trivago's unique global multi- provider platform. The U.S. online average daily rate (oADR), the industry's best analytic for competitive pricing, currently ranges among the top-25 destinations from a high of $340 to a low of $109 this November. Based on industry surveys, eforecasting.com estimates that in 2016 about 65% of all reservations are made online via brand websites and travel agent merchant websites, compared with only one-fourth eight years ago.

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Group Bookings in New Year Brighten Hotel Outlook
Committed occupancy* and average daily rates (ADR) for the first quarter of 2017 are showing major signs of growth with group travel leading the way despite the continuing lag in transient booking pace in the fourth quarter of 2016, according to new data from TravelClick's November 2016 North American Hospitality Review (NAHR).

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STR: Europe hotel performance for October 2016
Hotels in Europe reported negative results in the three key performance metrics when reported in euro constant currency, according to October 2016 data from STR.Compared with October 2015, Europe reported nearly flat occupancy, down 0.4% to 75.3%. Average daily rate (ADR) dipped 1.6% to EUR113.51. Revenue per available room (RevPAR) fell 2.0% to EUR85.47. Performance of featured countries for October 2016 (local currency, year-over-year comparisons):Portugal recorded its highest ADR (EUR94.78) for the month of October since 2003 as well as its sharpest year-over-year increase in ADR (+13.0%) for any October on record. Meanwhile, occupancy increased 3.0% to 77.8%. As a result, RevPAR grew 16.3% to EUR73.72. STR analysts believe that the country's hotels have benefitted from an increase in arrivals, which could very likely be due to tourists avoiding countries with security concerns such as Turkey or France.Slovakia posted double-digit RevPAR growth (+21.5% to EUR51.90) as a result of a 7.7% increase in occupancy to 73.7% and a 12.8% lift in ADR to EUR70.42. STR analysts note that the country's hotels fared slightly better on weekends than weekdays during the month and attribute overall performance to a rise in international tourism.The United Kingdom saw a 1.8% decline in occupancy to 80.9%. The decrease came in comparison with a record-high occupancy level for an October (2015), when the UK hosted major events like the Rugby World Cup. ADR dropped 2.9% in October 2016 to GBP91.84, and RevPAR dipped 4.7% to GBP74.29. Overall, the UK's supply continued to grow, up 1.9% in October, while demand was flat.Performance of featured markets for October 2016 (local currency, year-over-year comparisons):Budapest, Hungary, posted its highest occupancy level for an October on record with a 15.5% increase to 87.7%. October also brought Budapest's fourth highest actual ADR for any month since 1996, with an 8.8% rise to HUF27,939.28. As a result, RevPAR grew 25.6

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STR: Asia Pacific hotel performance for October 2016
Hotels in the Asia Pacific region reported nearly flat results in the three key performance metrics when reported in U.S. dollar constant currency, according to October 2016 data from STR.Compared with October 2015, the Asia Pacific region reported a 0.5% increase in occupancy to 71.3%. However, average daily rate (ADR) dipped 0.4% to US$103.77, and revenue per available room (RevPAR) was mostly flat (+0.1% to US$74.02). Performance of featured countries for October 2016 (local currency, year-over-year comparisons):India reported its first month with a decline in occupancy (-4.6% to 59.4%) since November 2015. ADR in the country was up 1.4% to INR5,865.97, but RevPAR still fell 3.2% to INR3,484.48. STR analysts attribute the performance to a 2.9% increase in supply as well as strong comparison base from last October when hotels recorded an 18.6% increase in demand. New Zealand is on course for its second consecutive year with double-digit RevPAR growth. Occupancy rose 3.0% to 80.0%, the nation's highest actual occupancy level for any October on record. ADR also increased 12.9% to NZD175.92, resulting in a 16.3% increase in RevPAR to NZD140.79. New Zealand has posted 40 straight months with year-over-year RevPAR growth.Taiwan's hotels have struggled since September 2015, and October 2016 was no exception with a 5.5% drop in occupancy to 66.5%. The market recorded relatively flat ADR (+0.2% to TWD5,773.02) for the month, but RevPAR declined 5.4% to TWD3,841.15.Performance of featured markets for October 2016 (local currency, year-over-year comparisons):Beijing, China, registered a 0.4% increase in occupancy to 77.2% in addition to a 2.0% rise in ADR to CNY594.63. As a result, RevPAR grew 2.4% to CNY459.16. The market's supply has remained stable (+0.7% year to date), allowing an increase in demand (+3.4% year to date) to boost performance. The China Open (3-9 October) tennis tournament resulted in several days of strong RevPAR growth, specifically 4

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STR: Middle East and Africa hotel performance for October 2016
Hotels in the Middle East reported negative October 2016 results, while hotels in Africa posted mixed results in the three key performance metrics when reported in U.S. dollar constant currency, according to data from STR.Compared with October 2015, the Middle East reported a 4.4% decrease in occupancy to 64.0%, a 9.0% drop in average daily rate (ADR) to US$174.19 and a 13.0% decline in revenue per available room (RevPAR) to US$111.48. Africa experienced a 5.1% drop in occupancy to 58.5%, but an 8.2% rise in ADR to US$105.71 pushed RevPAR up 2.8% to US$61.82. Performance of featured countries for October 2016 (local currency, year-over-year comparisons):Jordan recorded increases in occupancy (+3.9% to 60.6%) and RevPAR (+2.4% to JOD60.66). ADR in the country decreased 1.5% to JOD100.11. Rates in the country have been consistently cheaper (-4.3% year to date), while demand has trended upward, reaching 6.9% growth through the first 10 months of 2016. STR analysts note that the demand upswing has come while tourist arrivals have fallen year to date (-1.3% according to the Ministry of Tourism & Antiquities).Nigeria posted increases across the three key performance metrics. Occupancy rose 4.2% to 48.3%, ADR was up 13.3% to an all-time high for the country (NGN49,251.44) and RevPAR grew 18.0% to NGN23,795.19. STR analysts attribute the spike in rate to inflation in the country, while occupancy has been helped by slowing supply growth during the recession.The United Arab Emirates reported decreases in each of the three metrics. Occupancy dipped 2.9% to 75.6%, and ADR dropped 9.6% to AED668.05, the lowest for an October since 2005. As a result, RevPAR declined 12.3% to AED505.34. October was the 22nd consecutive month of year- over-year ADR decreases in the United Arab Emirates, due in part to consistent and significant supply growth (+5.1% year to date). At the same time, demand has remained strong, up 5.0% year to date.Performance of featured markets for

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Tourism In Venice Driving The Locals Out Of The City | tourism-review.com
Tourism in Venice has been a growing problem; the city is overrun by tourists. Many of the local inhabitants have left the center, and are still leaving in droves. Within one generation the population has shrunk by almost a third. Rising costs are driving more and more people out of the city. This month the number of inhabitants has fallen to under 55,000. In 1951 the population was 175,000. 26 years ago it was still 78,000. Another problem is that almost half of the population is over 60 years old. On the other there are only about 9000 people under 18 years old.

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The Resilience Of Business Tourism In France | tourism-review.com
Tourism in France suffered greatly last year; especially Paris and its suburbs. The hotel industry in Ile-de- France reported that the number of overnight stays in the second quarter of 2016 fell by 10.6% compared to the previous year. The decline in the number of foreign customers was particularly noticeable: 13.9% year-on-year in the second quarter of 2016. Japanese tourists were the biggest group that left Paris, their number dropped by 46.2% compared to the previous year. Fortunately, business tourism, the professional counterpart to leisure tourism, is performing better, and despite a lackluster year, the Ile-de-France maintains its dominant position in Europe.

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STR: US hotel results for week ending 12 November
The U.S. hotel industry reported positive results in the three key performance metrics during the week of 6- 12 November 2016, according to data from STR.In year-over-year comparisons, the industry's occupancy rose 1.6% to 65.3%. Average daily rate (ADR) increased 3.3% to US$122.70. Revenue per available room (RevPAR) grew 5.0% to US$80.16.Seven Top 25 Markets reported a double-digit RevPAR increase, three of which posted an increase of more than 15.0% in the metric: Seattle, Washington (+18.3% to US$123.56); Nashville, Tennessee (+16.7% to US$114.91); and Norfolk/Virginia Beach, Virginia (+15.7% to US$47.71).Three markets recorded a double-digit rise in ADR for the week: New Orleans, Louisiana (+10.9% to US$163.90); Nashville (+10.6% to US$145.87); and Chicago, Illinois (+10.4% to US$168.40).Two markets saw a double-digit lift in occupancy: Norfolk/Virginia Beach (+11.5% to 56.5%) and Seattle (+10.1% to 83.1%).Houston, Texas, reported the steepest declines in occupancy (-12.8% to 63.0%) and RevPAR (-19.0% to US$66.04).Four additional markets experienced a double-digit decrease in RevPAR: Miami/Hialeah, Florida (-14.6% to US$129.35); Denver, Colorado (-13.4% to US$81.02); San Francisco/San Mateo, California (-13.2% to US$185.35); and Oahu Island, Hawaii (-10.2% to US$180.43).San Francisco/San Mateo was the only Top 25 Market to report a double-digit drop in ADR (-10.2% to US$214.29).After Houston, only one other market saw a double-digit decline in occupancy: Denver (-10.0% to 67.1%).

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Sri Lanka hotels report sharp rate growth
Ahead of the inaugural Asia Hotel & Tourism Investment Conference (AHTIC), taking place in Colombo at the end of this month, a study by STR reveals that Sri Lanka's hotel market recorded strong overall performance growth through September 2016, driven by a sharp increase in average daily rate (ADR). In year-over-year comparisons with the first nine months of 2015, Sri Lanka hotels reported a 15.0% increase in ADR to LKR15,806.02. Meanwhile, occupancy was relatively flat at 66.4%. As a result, revenue per available room (RevPAR) jumped 14.9% to LKR10,495.60.

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STR, Tourism Economics project moderate growth in final U.S. forecast of 2016
The U.S. hotel industry is projected to experience continued but muted performance growth through 2017, according to STR and Tourism Economics' final forecast of 2016.\"As supply eventually outpaces demand, rate will determine the level of RevPAR (revenue per available room) growth the industry experiences for the next several years,\" said Amanda Hite, STR's president and CEO. \"Given the continued lack of pricing power being displayed, we expect performance to weaken a bit for the final quarter of 2016 then decelerate more in 2017 as hoteliers become less confident in pushing rate.\"Nonetheless, demand is still growing to all-time highs, and RevPAR will continue to reach record levels.\"2016For total-year 2016, the U.S. hotel industry is predicted to report flat occupancy at 65.4%, a 3.1% rise in average daily rate to US$124.10 and a 3.1% increase in RevPAR to US$81.18.Among the Chain Scale segments, the Independent segment is expected to see the only year-over-year increase in occupancy (+0.5%) as well as the largest increases in ADR (+3.7%) and RevPAR (+4.2%). The lowest rate of overall performance growth is expected in the Luxury segment (RevPAR +1.6%).Of the Top 25 Markets, 13 are expected to experience RevPAR performance between 0% and +5.0% for 2016. Eight markets are expected to see RevPAR growth in the range of +5.0% to +10.0%: Atlanta, Georgia; Dallas, Texas; Los Angeles/Long Beach, California; Minneapolis/St. Paul, Minnesota-Wisconsin; Nashville, Tennessee; Norfolk/Virginia Beach, Virginia; Philadelphia, Pennsylvania-New Jersey; and Tampa/St. Petersburg, Florida.Three markets are projected to see RevPAR performance between 0% and -5.0%. Houston, Texas, is the only market expected to report a RevPAR decline between -10.0% and -15.0%.2017For 2017, STR and Tourism Economics project the U.S. hotel industry to report a 0.5% decrease in occupancy to 65.1% but increases in ADR (+2.8% to US$127.61) and RevPAR (+2.3% to US$83.05). Also in 2017,

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Close to one billion international tourists in the first nine months of 2016
Destinations around the world welcomed 956 million international tourists between January and September 2016, according to the latest UNWTO World Tourism Barometer. This is 34 million more than in the same period of 2015, a 4% increase.

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Brexit: A Boon For Domestic Tourism In Great Britain? | tourism-review.com
The vote of British electors in favor of the United Kingdom's exit from the European Union (EU) in June 2016, commonly known as Brexit, will have consequences for the country's tourism industry, as well as for Europe. It seems domestic tourism will benefit quite substantially. It was one of the most discussed topics at the World Travel Market (WTM) 2016. It is the subject of an entire chapter in the 7th edition of the Industry Report presented by the fair and is at the heart of several conferences.

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STR: Preliminary October 2016 data for London
STR's preliminary October 2016 data for London, England, indicates performance declines.Based on daily data from October, London reported the following in year-over-year comparisons:

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STR: Preliminary October 2016 data for Munich
STR's preliminary October 2016 data for Munich, Germany, indicates sharp performance declines.Based on daily data from October, Munich reported the following in year-over-year comparisons:

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STR: Preliminary October 2016 data for Dubai
STR's preliminary October 2016 data for Dubai, United Arab Emirates, indicates performance declines consistent with significant supply growth.Based on daily data from October, Dubai reported the following in year-over-year comparisons:

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STR: Preliminary October 2016 data for Singapore
STR's preliminary October 2016 data for Singapore indicates performance declines driven primarily by supply growth. Based on daily data from October, Singapore reported the following in year-over-year comparisons:

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STR: Preliminary October 2016 data for Melbourne
STR's preliminary October 2016 data for Melbourne, Australia, indicates solid performance despite a decline in year-over-year comparisons.Based on daily data from October, Melbourne reported the following:

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STR: US hotel results for week ending 5 November
The U.S. hotel industry reported mixed results in the three key performance metrics during the week of 30 October through 5 November 2016, according to data from STR.In year-over-year comparisons, the industry's occupancy fell 3.5% to 64.0%. Average daily rate (ADR) increased 1.6% to US$123.17. Revenue per available room (RevPAR) decreased 1.9% to US$78.82.Opposite from last week, STR analysts cite a negative effect on results due to a Halloween calendar shift. The holiday was not included in the comparable week from 2015.Among the Top 25 Markets, Orlando, Florida, saw the largest year-over-year increases in occupancy (+7.2% to 74.6%) and RevPAR (+15.2% to US$89.48). ADR in the market rose 7.5% to US$120.01.Two additional markets registered a double-digit rise in RevPAR: New Orleans, Louisiana (+11.6% to US$130.53), and World Series co-host, Chicago, Illinois (+10.1% to US$117.57).Chicago also posted the largest increase in ADR, up 9.4% to US$158.90.St. Louis, Missouri, reported the steepest declines in occupancy (-14.1% to 62.1%) and RevPAR (-18.3% to US$61.13). ADR in the market fell 4.9% to US$98.41.Three additional markets experienced a double-digit drop in RevPAR for the week: Boston, Massachusetts (-16.9% to US$135.55); Miami/Hialeah, Florida (-16.5% to US$125.97); and Houston, Texas (-15.1% to US$64.90).Miami/Hialeah reported the largest decrease in ADR, down 5.6% to US$172.80.After St. Louis, three other markets saw a double-digit decline in occupancy: Boston (-13.6% to 69.8%), Miami/Hialeah (-11.5% to 72.9%) and Houston (-10.5% to 61.8%).

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HVS Market Pulse: Branson, MO | By Justin Westad
Named after the owner of the area's first general store and later developed as a center for lumber shipments, Branson, Missouri, had an inauspicious start as a tourism destination. Over the course of the past century, however, Branson has built a reputation as a \"family friendly\" counterpart to Las Vegas, featuring a high density of live music and theater performance venues along a stretch of State Highway 76 nicknamed \"The Strip.\"

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Baird/STR Hotel Stock Index nearly flat in October
The Baird/STR Hotel Stock Index decreased 0.8% in October to close the month at 3,108. Year to date, the index remains up 0.4%.\"Calendar shifts and subsequent strong RevPAR (revenue per available room) growth helped stocks, but October prices would indicate that investors were more focused on a pending deceleration in performance,\" said Amanda Hite, STR's president and CEO. \"Supply growth and demand growth are in equilibrium, and we expect softening occupancy to eventually turn to an occupancy decline in 2017. At the same time, rate will still push moderate RevPAR growth.\"\"Hotel stocks outperformed in October amid low investor expectations and rising interest rates,\" said David Loeb, senior hotel research analyst and managing director at Baird. \"Third-quarter earnings reports were weaker than expected and showed sequential RevPAR growth deceleration, but investors remain more focused on rising interest rates and their impact on other real estate sectors' valuations rather than still-slowing hotel fundamentals.\"The Baird/STR Hotel Stock Index for October outperformed both the S&P 500 (-1.9%) and the MSCI REIT (RMZ) (-5.9%).The Hotel Brand sub-index was mostly flat (-0.1% to 4,160) in October. The Hotel REIT sub-index declined 2.2% to 1,352 during the month.About the Baird/STR Hotel Stock Index and Sub-IndicesThe Baird/STR Hotel Stock Index was set to equal 1,000 on 1 January 2000. Last cycle the Index peaked at 3,178 on 5 July 2007. The Index's low point occurred on 6 March 2009 when it dropped to 573.The Hotel Brand sub-index was set to equal 1,000 on 1 January 2000. Last cycle the sub-index peaked at 3,407 on 5 July 2007. The sub-index's low point occurred on 6 March 2009 when it dropped to 722.The Hotel REIT sub-index was set to equal 1,000 on 1 January 2000. Last cycle the sub-index peaked at 2,555 on 2 February 2007. The sub-index's low point occurred on 5 March 2009 when it dropped to 298.The Baird/STR Hotel Stock Index and sub-indices

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Hotel Bulletin Q3 2016 | By Russell Kett
The Q3 2016 Hotel Bulletin analyses the first full quarter of data following the EU referendum in June. Very early trends suggest that a divide could be emerging between leisure and corporate focused markets. Cities with larger tourist industries recorded strong RevPAR growth as international visitors flocked to benefit from a weaker Pound, whereas cities outside this group continued recent trends of plateauing or declining RevPAR. This quarter's Focus examines he independently branded hotel market, where a number of groups have created unique customer propositions and enjoyed significant success.

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HotStats MENA Chain Hotels Market Review September 2016
Strong September Contributes to Spectacular Q3 Performance for Cairo HotelsA 20.1% year-on-year increase in profit per room in September helped Cairo hoteliers to achieve a 39.8% increase in profit for Q3 2016, according to the latest data from HotStats.

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HotStats European Chain Hotels Market Review September 2016
Hotels in Brussels have suffered a 56.9% year-on-year profit drop for the month of September, contributing to a 57.3% decline for year-to-date 2016, as the security threat level in the Belgian capital remains high following the terrorist activity in the city in March, according to the latest data from HotStats.

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HotStats UK Chain Hotels Market Review September 2016
South East Hotels on Course for Another Bumper Year of Profit GrowthFurther to strong profit growth in both 2014 (+10.0%) and 2015 (+8.4%), year-to-date performance suggests hoteliers in the South East are on course for another bumper year of profit growth in 2016, according to the latest data from HotStats.

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Recession Risk for New York Hotels Lowers to 38.3%
In September, eforecasting.com's NYC HIL (hotel industry leading indicator) advanced 0.3% to 142.2. The NYC HIL is set equal to 100 in 2010. The probability of an upcoming recession for the New York City hotel market registered a reading of 38.3% in September of 2016, based on NYC's Hotel Industry Leading (HIL) which is slightly lower than the previous month's risk reading of 41.5% and a retreat from a peak of 54.7% reach in May.

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French Hotel Industry Performance - September 2016
September saw a decline in occupancy and average rates for all categories, with all major areas in France affected. Ile-de-France, the Cote d'Azur, and even Regional France, recorded lower RevPAR in all segments, with the exception of Luxury. However, given the solid performances recorded since early 2016, year-to-date results for Regional France are still up on last year's performances. Yet given the underlying trend, certain hoteliers have been forced to scale down their Q4 forecasts.

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Japan surpasses the benchmark for 20 million visitors
While the Japanese government doubled its goals last spring to 40 million visitors to the Tokyo Olympics in 2020, the results revealed by the Japan Tourism Agency this week confirm the excellent health of tourism in the archipelago. The estimation of 24 million visitors in 2016 represents growth by 20% over the previous year. 

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STR: Paris hotels continue to struggle from terrorism concerns
Still feeling the effects of three major terrorist attacks in France, Paris' hotel industry saw a 15.1% decline in revenue per available room (RevPAR) through the first three quarters of 2016, according to STR.

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In Focus: Udaipur An Oasis of Potential | By Shunit Roy and Achin Khanna
Located in the Girwa valley, amidst the desert of Rajasthan, stands the city of Udaipur. The once capital of the mighty Mewar Kingdom, Udaipur is now one of the most sought after leisure destinations India has to offer. Aptly known as the \"City of Lakes\", the scenic Lake Pichola and Fateh Sagar Lake are centres of most of the leisure activity in the city. The atmosphere of royalty can not only be sensed in the palaces and gardens of Udaipur, but by way of the luxury hospitality experience as well. This article focuses on the history and progress of the Udaipur hotel market in addition to a brief outlook of its future potential.

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Inconsistent reservation pace cools U.S. hotel outlook
As hoteliers in major North American markets round out 2016 and prepare for the New Year, the pace of new bookings, especially in the industry's business sector, continues to decline, according to new data from TravelClick's October 2016 North American Hospitality Review (NAHR). Over the last month, the pace of new bookings overall is down -2.2 percent, and the pace of new group business bookings in particular is down -8.5 percent over the same time last year.

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October

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Greek Hospitality Industry Performance - 2016 Q3
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socioeconomic developments.

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STR: Yen devaluation leads to profit boost for Japanese hotels
Japan's hotel industry has benefitted substantially from the devaluation of the Japanese yen, experiencing four consecutive years of double-digit percentage growth in gross operating profit per available room (GOPPAR), according to STR.As reported in STR's Profitability Review, Japan's GOPPAR reached JPY12,512.18 in 2015, the country's highest GOPPAR value since the time of the global financial crisis in 2008.STR analysts point to a clear correlation between the devaluation of the yen and Japan's increase in international arrivals. According to Tourism Economics, the country welcomed nearly 20 million overnight tourists in 2015, a 47% increase compared with the previous year. Of those arrivals, the main source markets were China, South Korea, Taiwan and the U.S. Currencies for the aforementioned countries all gained in value against the Japanese yen in 2015 (example: U.S. dollar, +14.4%), making travel to Japan cheaper. Although the yen has regained some value in 2016, Tourism Economics is projecting an increase of 17.8% in overnight tourist arrivals for the year. In terms of hotel performance, Japan posted a 4.6% increase in revenue per available room (RevPAR) through the first nine months of 2016, driven by a 6.5% rise in average daily rate (ADR) to JPY15,226.89. Occupancy declined slightly (-1.8% to 82.0%) compared with the same year-to-date time period last year, but 2015 marked Japan's highest full-year occupancy level on record. Thus, the comparison base is exceptionally strong. \"Interest in Japan as a destination has dramatically increased in recent years,\" said Shiori Sakurai, STR's business development manager for Japan. \"The extended period of cheaper travel to the country has created long-term benefits for the tourism and hospitality industries, which will hopefully continue as the yen picks up in value along with the demand increase of overseas travel from Asia to Japan.\"Looking ahead, Japan currently has 61 hotel projects and 16,42

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Krakow - Market Snapshot, 2016
Often referred to as \"the beating heart of Poland\", Krakow, the former royal capital, is a major economic centre home to several national and multinational corporations. The city's rich architectural and historical heritage makes it the leading cultural city as well as the second most in-demand tourist destination in the country behind Warsaw.

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STR: Canada hotel performance for Q3 2016
The Canadian hotel industry reported positive results in the three key performance metrics for the third quarter of 2016, according to data from STR.Compared with Q3 2015, the Canadian hotel industry's occupancy increased 1.2% to 77.4%. Average daily rate was up 6.8% to CAD164.87. Revenue per available room grew 8.0% to CAD127.53.Among the provinces, Ontario recorded the largest year-over-year increases in ADR (+9.8% to CAD160.57) and RevPAR (+14.9% to CAD130.73). Occupancy in the province rose 4.6% to 81.4%. Four additional provinces experienced a double-digit lift in RevPAR for the quarter: Prince Edward Island (+14.8% to CAD160.12); Quebec (+13.6% to CAD144.44); Nova Scotia (+11.6% to CAD122.43); and British Columbia (+10.9% to CAD162.20).British Columbia posted the highest absolute levels for ADR (CAD191.47) and RevPAR (CAD162.20).Prince Edward Island saw the quarter's largest year-over-year occupancy increase (+4.8%) and highest absolute occupancy (93.9%).Saskatchewan reported the largest decreases across the three key metrics. Occupancy fell 10.5% to 56.8%; ADR was down 5.0% to CAD121.63; and RevPAR dropped 15.0% to CAD69.14.The only other double-digit decrease in the metrics was reported in the Northwest Territories (RevPAR: -12.1% to CAD119.01).

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Asia's hotels gear up for the business travel boom
For the millions of business travelers visiting Shanghai, their focus is less on getting a room with a view of the Pudong district's futuristic skyline and more on ensuring easy access to that allimportant early morning meeting.

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STR: Central/South America hotel performance for Q3 2016, September 2016
Hotels in the Central/South America region recorded mixed Q3 2016 results when reported in U.S. dollar constant currency, according to data from STR.Compared with Q3 2015, the Central/South America region reported a 3.2% decrease in occupancy to 57.1%. However, average daily rate (ADR) was up 19.0% to US$98.92, and revenue per available room (RevPAR) grew 15.2% to US$56.45. Performance of featured countries for Q3 2016 (local currency, year-over-year comparisons):Argentina saw a slight dip in occupancy (-1.6% to 57.3%), but a 54.5% spike in ADR to ARS1,602.79 pushed RevPAR up 52.0% to an all-time quarterly high (ARS918.22). The absolute occupancy level was the lowest for a third quarter in Argentina since 2012. STR analysts point to a decline in corporate business, as evidenced by an 18.7% year-over-year decrease in Contract demand, as a driving reason behind the low occupancy. Additionally, hotels in the country became expensive within Latin America due to high inflation rates. The ARS1,602.79 absolute ADR level was the second highest (Q1 2016) for any quarter on record in Argentina.Brazil experienced a 5.7% decrease in occupancy to 55.0%. However, ADR was up 27.8% to BRL362.95, and RevPAR grew 20.5% to BRL199.67. The Summer Olympics and Paralympics helped Brazil achieve three national records in August: ADR (BRL493.34), RevPAR (BRL283.65) and revenue (BRL2.1 billion). At the same time, occupancy has declined in year-over-year comparisons for 10 consecutive quarters in Brazil as supply has grown by at least 2.0% in 11 straight quarters. Specifically in Q3 2016, supply increased 4.7% year over year.Colombia recorded increases across the three key performance metrics. Occupancy in the country increased 2.9% to 60.6%; ADR was up 1.3% to COP261,944.73; and RevPAR rose 4.3% to COP158,754.63. Absolute occupancy in the country eclipsed 60.0% for the first quarter since Q4 2013, and RevPAR reached its highest level for Q3 since 2010. STR analysts also no

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STR: Asia Pacific hotel performance for Q3 2016, September 2016
Hotels in the Asia Pacific region recorded mixed Q3 2016 results when reported in U.S. dollar constant currency, according to data from STR.Compared with Q3 2015, the Asia Pacific region reported a 1.9% increase in occupancy to 71.3%. However, average daily rate was down 1.9% to US$97.34, and revenue per available room (RevPAR) was nearly flat (-0.1% to US$69.44).Performance of featured countries for Q3 2016 (local currency, year-over-year comparisons):Indonesia saw a 5.0% increase in occupancy to 64.5%, but a 7.7% drop in ADR to IDR1,067,144.50 dragged RevPAR down 3.1% to IDR688,492.00. The country has experienced year-over-year occupancy increases for three straight quarters. However, ADR has fallen year over year in each of those quarters. According to STR analysts, a 4.9% year-to-date increase in supply and a heavy development pipeline have contributed to pricing competition and lower ADR in the country.Maldives reported decreases across the three key performance metrics. Occupancy fell 6.5% to 61.3%, ADR was down 6.8% to MVR7,612.88 and RevPAR dropped 12.8% to MVR4,665.35. Occupancy has decreased year over year for nine straight quarters in the country. STR analysts suggest that a shift in tourism demand may be a reason behind the overall declines. While total tourist arrivals were up 2.3% through August, the number of visitors from Maldives' top feeder market (China) decreased by 11.5%, according to the country's Ministry of Tourism.The Philippines experienced nearly flat occupancy (-0.4% to 65.7%). However, a 2.0% rise in ADR to PHP5,129.42 pushed RevPAR up 1.5% to PHP3,368.74. Through August, visitor arrivals to the country increased 12.6%, according to the Department of Tourism. Support for the hotel industry has been enough to outpace a 4.4% year-to-date increase in supply.Performance of featured markets for Q3 2016 (local currency, year-over-year comparisons):Melbourne, Australia, recorded increases in occupancy (+1.5% to 82.9%) and Rev

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STR: Middle East and Africa hotel performance for Q3 2016, September 2016
Hotels in the Middle East reported mixed Q3 2016 results, while hotels in Africa showed positive results when reported in U.S. dollar constant currency, according to data from STR.Compared with Q3 2015, the Middle East reported a 1.6% increase in occupancy to 63.3%. However, average daily rate (ADR) for the quarter was down 9.2% to US$160.40, and revenue per available room (RevPAR) dropped 7.7% to US$101.51.Africa experienced nearly flat occupancy (+0.2% to 58.6%). Average daily rate was up 9.0% to US$101.66, and RevPAR grew 9.2% to US$59.59.Performance of featured countries for Q3 2016 (local currency, year-over- year comparisons):Bahrain saw a 5.1% increase in occupancy to 54.0%. However, ADR dropped 7.4% to BHD76.30, and RevPAR fell 2.7% to BHD41.22. The absolute occupancy level was the best for a Q3 in the country since 2010, but the ADR decline was the steepest for Q3 since 2004. According to the Bahrain Tourism and Exhibition Authority, the country has experienced a 10% increase in tourist arrivals over the past two years and is targeting greater increases by 2018. Through nine months in 2016, hotel demand increased 5.3% in Bahrain.Egypt experienced a 4.8% decrease in occupancy to 56.5%, but a 22.4% lift in ADR to EGP762.85 pushed RevPAR up 16.6% to EGP430.72. The absolute occupancy level was an improvement from the first two quarters of the year, and the ADR level was the highest for any quarter on record in the country due to high inflation.Morocco posted increases in occupancy (+9.1% to 64.0%) and RevPAR (+5.2% to MAD663.92). ADR in the country fell 3.6% to MAD1,036.96. The absolute occupancy level was the highest for Morocco since Q2 2014. Year to date, Morocco's supply is up 2.0%, which is a factor in consistent ADR decreases in the country.Performance of featured markets for Q3 2016 (local currency, year- over-year comparisons):Abu Dhabi, United Arab Emirates, reported decreases across the three key performance metrics. Occupancy fell 3.

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STR: Europe hotel performance for Q3 2016, September 2016
Hotels in Europe recorded positive Q3 2016 results when reported in euro constant currency, according to data from STR.Compared with the three key performance metrics from Q3 2015, Europe reported a 0.5% decrease in occupancy to 77.7%. However, a 2.0% increase in average daily rate (ADR) to EUR119.17 resulted in revenue per available (RevPAR) growth of 1.5% to EUR92.58.Performance of featured countries for Q3 2016 (local currency, year-over-year comparisons):Finland reported a strong quarter, mainly due to growth in ADR (+8.9% to EUR99.67). Occupancy also increased moderately (+0.4% to 71.5%), resulting in a 9.3% increase in RevPAR to EUR71.27. The absolute ADR level was a Q3 record for the country, and although occupancy growth was muted, the actual occupancy level was Finland's highest for a third quarter since 2011. STR analysts note that weekday occupancy increased 5.6% to 70.6%, while weekend absolute occupancy was slightly higher at 71.9%.Greece reached an absolute occupancy level of 81.9% (+5.8%), the highest on record for a Q3 in the country. ADR also increased 2.2% to EUR144.49, resulting in an 8.1% increase in RevPAR to EUR118.35. July was Greece's strongest growth month of the quarter, with a 9.5% increase in RevPAR, while September produced the highest occupancy level (84.3%). In September, weekday business drove performance, with 11 days of double-digit RevPAR growth during the Sunday to Thursday periods throughout the month.Ireland recorded its 10th consecutive quarter of double-digit RevPAR growth. Occupancy increased 0.6% to 89.6%, and ADR grew 13.9% to EUR133.04, resulting in a 14.5% lift in RevPAR to EUR119.22. September was a particularly strong month for the country's hotels, as there were only two days without double-digit growth in RevPAR. Rate growth has been the driving factor for Ireland's continued upward trajectory, as ADR is up 15.4% year to date. Occupancy is up 1.7% during the same nine- month time period.Performance o

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HNA Group Makes Strategic Investment in Hilton
Hilton Worldwide Holdings Inc. (NYSE: HLT) (\"Hilton\"), HNA Group (\"HNA\") and Blackstone (NYSE: BX) announced today that HNA will acquire an approximate 25 percent equity interest in Hilton from affiliates of Blackstone, establishing a long-term strategic investment in Hilton and Hilton's planned spin-offs of Park Hotels & Resorts (\"Park\") and Hilton Grand Vacations (\"HGV\").

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STR: US hotel performance for Q3 2016
The U.S. hotel industry reported mostly positive results in the three key performance metrics for the third quarter of 2016, according to data from STR.Compared with Q3 2015, the U.S. hotel industry's occupancy was flat at 71.1%. However, average daily rate (ADR) rose 3.4% to US$127.19, and revenue per available room (RevPAR) grew 3.3% to US$90.48.The flat occupancy performance came as industry supply (+1.6%) and demand (+1.6%) grew at the same pace. \"This was the slowest third quarter for RevPAR growth since 2009, but RevPAR did hit an all-time high in absolute value,\" said Bobby Bowers, STR's senior VP for operations. \"Year-to-date supply growth is at 1.5%, which is the highest through the first nine months of a year since 2010. And even though we are still selling a record number of rooms, this slowing performance will be the new normal as rate is now the sole driver of RevPAR growth.\"Among the Top 25 Markets, Philadelphia- Pennsylvania-New Jersey, posted the largest rise in occupancy (+5.9% to 76.8%) as well as the only double- digit increases in ADR (+12.6% to US$143.26) and RevPAR (+19.2% to US$110.09).\"Philadelphia saw a big boost from the DNC (Democratic National Convention) in July, and the impact from the event spilled over into August,\" Bowers said. \"Year to date, Philadelphia has one of the higher RevPAR growth figures among the Top 25 Markets.\"The next highest RevPAR increases for Q3 were reported in Phoenix, Arizona (+9.4% to US$52.40); Los Angeles/Long Beach, California (+9.3% to US$156.73); and Nashville, Tennessee (+8.0% to US$104.13). Overall, 20 of the Top 25 Markets saw year-over-year RevPAR growth for the quarter. Houston, Texas, reported the steepest declines across the three key performance metrics. Occupancy in the market fell 10.3% to 60.2%; ADR was down 5.8% to US$98.54; and RevPAR dropped 15.6% to US$59.36.\"Houston's problems with oversupply and diminishing demand as a result of the oil crisis have been well-docum

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German hotel market still leading in Europe
Globally hotel markets are facing huge changes. Europe and in particular Germany can be measured in terms of renewals and smart future hotels. Currently 595 hotels are in the pipeline for Germany. Thereof about a third of all hotel construction projects in Europe are being built in Germany. This data has been revealed byTOPHOTELPROJECTS, the worldwide leading provider for global b2b hotel data.

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STR: $50 million in hotel room revenue lost during Hurricane Matthew
The five U.S. states in the path of Hurricane Matthew saw a net hotel room revenue loss of approximately US$50 million during the days of and around the storm, according toSTR's consulting and analytics division.For the purpose of its Hurricane Matthew analysis, STR examined the hotel room revenue impact in Florida, Georgia, North Carolina, South Carolina and Virginia.\"When looking at the net impact on hotel demand and rates, the story was very similar to what we saw when Hurricane Sandy hit in late 2012,\" said Steve Hennis, STR's VP of consulting and analytics. \"Unfortunately, the overall loss will be higher once you factor in future lost business as a result of the extensive damage and renovations that many hotels will require prior to reopening.\"The major markets most affected were Orlando, Florida (-14.5 million); Miami/Hialeah, Florida (-13.6 million); and Charleston, South Carolina (-9.6 million).The submarkets most affected were Miami Beach, Florida (-10.2 million), and Charleston/West Ashley, South Carolina (-7.3 million).The most affected day was Friday, 7 October.\"There also were many submarkets that saw positive gains as hotels catered to evacuees, stranded visitors, emergency management personnel and the media,\" Hennis said.Those submarkets included: Tampa CBD/Airport, Florida (+2.7 million); Georgia South Area (+2.1 million); Greenville, South Carolina (+1.5 million); North Carolina Southeast Area (+1.5 million); and Charlotte CBD/Airport, North Carolina-South Carolina (+1.4 million).

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CBRE Hotels October 2016 Lodging Insights Video
Mark Woodworth and Jack Corgel update viewers on the latest forecasts from CBRE Hotels' Americas Research and their current thoughts on hot topics in the U.S. lodging industry.

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STR: US hotel performance for September 2016
The U.S. hotel industry recorded positive results in the three key performance metrics during September 2016, according to data from STR.Compared with September 2015, the U.S. hotel industry's occupancy increased 1.6% to 68.8%. Average daily rate (ADR) for the month was up 3.9% to US$127.07. Revenue per available room (RevPAR) grew 5.6% to US$87.40, marking the 79th consecutive month with a year-over-year increase in the metric.\"September was the best month of 2016 in terms of RevPAR growth rate. In fact, September was only the second month this year where growth hit 5% or higher,\" said Jan Freitag, STR's senior VP for lodging insights. \"It is important to note that growth was boosted by a favorable calendar shift with Rosh Hashanah and Yom Kippur (September 2015 to October 2016). We'll see the reverse of that calendar shift in October results, which will fall more in line with the overall slowdown the industry is experiencing. \"Nonetheless, the absolute RevPAR and demand levels were the highest for any September on record. Because of the strong performance this month, September year-to-date occupancy was the highest we have ever benchmarked (67.1%).\"Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, posted the largest year-over-year increases in ADR (+15.7% to US$136.28) and RevPAR (+21.5% to US$109.28). Occupancy in the market rose 5.1% to 80.2%.Seven additional markets saw a double-digit lift in RevPAR: New Orleans, Louisiana (+18.8% to US$92.97); Orlando, Florida (+16.9% to US$67.83); Phoenix, Arizona (+16.5% to US$66.11); Los Angeles/Long Beach, California (+14.3% to US$140.88); Atlanta, Georgia (+13.0% to US$80.15); Washington, D.C.-Maryland-Virginia (+11.7% to US$124.76); and San Diego, California (+11.2% to US$122.17).After Minneapolis/St. Paul, one other market recorded a double- digit rise in ADR: Los Angeles/Long Beach (+10.0% to US$169.93).New Orleans experienced the only double-digit increase in occupancy (+13.1%

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The Business of Leisure in India | By Manav Thadani
Twenty years is a long time to understand a hotel market, which is about the same time when the first HVS Asian office was set up in New Delhi. Yes, what is happening in the leisure space for hotel accommodation in India today is indeed a revelation that needs to be recognized.

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In Focus: Greece | By Nana Boussia, Pavlos Papadimitriou, and Themis Trakas
In December 2008, we put together an article titled \"The Changing Face of the Greek Hospitality Market\" outlining the situation in the Greek hotel market at that time. Nearly eight years later, and after a volatile period inside and outside the country, we think it is appropriate to update our findings since we all live in \"a completely different world\" which has been profoundly transformed in terms of the sense of general prosperity prevailing in the Western economies since the mid-2000s. Thus, we wonder: \"Has the Greek Hospitality Market Even Changed?\"

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Whitebridge APAC Hotels Monitor - October 2016
The economies of Asia have continued to grow at a reasonable clip, with regional growth of 6.1% in Q2. Growth was below expectations largely due to weak performances in India (slowing urban consumption and declines in investment). China delivered on its promise to ensure the world's second largest economy did not decelerate too quickly, thus ensuring economic stability in the region. Although Australia's economy also slowed in Q2, it passed a notable landmark, 25 years without a recession.

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STR: US hotel results for week ending 8 October
The U.S. hotel industry reported mixed results in the three key performance metrics during the week of 2-8 October 2016, according to data from STR.In year-over-year comparisons, the industry's occupancy decreased 1.0% to 70.9%. However, average daily rate (ADR) was up 1.8% to US$127.88, and revenue per available room (RevPAR) increased 0.8% to US$90.67.STR analysts note that overall performance for the week was affected by the Rosh Hashanah calendar shift from 14 September 2015 to 3 October 2016. Performance in the Group segment was down in most major markets.Among the Top 25 Markets, San Francisco/San Mateo, California, posted the largest year-over-year performance increases in ADR (+25.9% to US$326.74) and RevPAR (+22.3% to US$296.86). Occupancy in the market was down 2.8% to 90.9%.Four additional markets saw a double-digit lift in RevPAR for the week: Minneapolis/St. Paul, Minnesota-Wisconsin (+19.7% to US$123.05); Tampa/St. Petersburg, Florida (+18.4% to US$89.03); Washington, D.C.- Maryland-Virginia (+17.3% to US$156.34); and Atlanta, Georgia (+10.8% to US$88.75).After San Francisco/San Mateo, two markets recorded a double-digit rise in ADR: Washington, D.C. (+13.2% to US$190.59) and Minneapolis/St. Paul (+12.5% to US$142.12).Tampa/St. Petersburg experienced the largest increase in occupancy (+8.6% to 76.3%).Houston, Texas, reported the only double-digit decrease in ADR (-12.6% to US$100.95) and the largest drop in RevPAR (-26.1% to US$59.83). Occupancy in the market fell 15.5% to 59.3%.Three additional markets saw a double-digit decline in RevPAR: Miami/Hialeah, Florida (-23.3% to US$89.67); New Orleans, Louisiana (-17.2% to US$105.63); and Philadelphia, Pennsylvania-New Jersey (-12.6% to US$100.09).In occupancy, Miami/Hialeah (-15.8% to 59.5%) and Houston (-15.5% to 59.3%) reported the week's only double-digit declines.

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STR releases preliminary September 2016 data for Sydney
STR's preliminary September 2016 data for Sydney, Australia, indicates a record occupancy level for the month.Based on daily data from September, Sydney reported the following in year-over-year comparisons:

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STR releases preliminary September 2016 data for Singapore
STR's preliminary September 2016 data for Singapore indicates performance declines.Based on daily data from September, Singapore reported the following in year-over-year comparisons:

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STR releases preliminary September 2016 results for Berlin
STR's preliminary September 2016 data for Berlin, Germany, indicates record performance for the month boosted by a number of events in the market.Based on daily data from September, Berlin reported the following in year-over-year comparisons:

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STR releases preliminary September 2016 data for Abu Dhabi
STR's preliminary September 2016 data for Abu Dhabi, United Arab Emirates, indicates overall performance declines. Based on daily data from September, Abu Dhabi reported the following in year-over-year comparisons:

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STR releases preliminary September 2016 data for London
LONDON -- STR's preliminary September 2016 data for London, England, indicates significant average daily rate.Based on daily data from September, London reported the following in year-over-year comparisons:

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French Hotel Industry Performance - August 2016
Hotel performances for August in Paris and, as feared, on the Cote d'Azur dragged down the results for the industry as a whole, in spite of the encouraging performances recorded in Regional France and in Coastal areas. Altogether, RevPAR fell in all categories, except in the Super-budget segment. The Upscale and Luxury categories were the most affected over the two summer months.

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HVS Market Pulse: Baton Rouge, LA | By Bunmi Adeboye
Baton Rouge, aka the \"Red Stick,\" was so named by 17th century French explorers who came upon a native boundary marker at the top of a bluff, in the form of pole painted red. Now the capital city of the state of Louisiana, Baton Rouge is also the seat of East Baton Rouge Parish and the political hub of Louisiana.

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HotStats MENA Chain Hotels Market Review August 2016
Abu Dhabi Hotels Slash Costs to Grow Profit Hotels in Abu Dhabi recorded a 2.0% year-on-year increase in profit per room this month, as management slashed costs to offset the 9.2% decline in total revenue, according to the latest data from HotStats.

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STR: US hotel results for week ending 1 October
The U.S. hotel industry recorded positive results in the three key performance metrics during the week of 25 September through 1 October 2016, according to data fromSTR.In year-over-year comparisons, the industry's occupancy increased 1.8% to 70.0%. Average daily rate (ADR) was up 1.3% to US$126.95. Revenue per available room (RevPAR) grew 3.2% to US$88.83. Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, posted the largest year-over-year increases in ADR (+45.4% to US$181.32) and RevPAR (+61.3% to US$155.34).Six additional markets experienced a double-digit lift in RevPAR for the week: Norfolk/Virginia Beach, Virginia (+38.0% to US$53.24); Atlanta, Georgia (+28.1% to US$100.60); St. Louis, Missouri-Illinois (+26.7% to US$88.10); Nashville, Tennessee (+12.8% to US$113.27); Phoenix, Arizona (+12.7% to US$78.08); and Los Angeles/Long Beach, California (+11.4% to US$145.20).Three of those markets joined Minneapolis/St. Paul with a double-digit rise in ADR: Atlanta (+16.2% to US$125.47), St. Louis (+12.6% to US$112.56) and Norfolk/Virginia Beach (+12.1% to US$94.14).Norfolk/Virginia Beach saw the largest increase in occupancy for the week, up 23.1% to 56.6%. Three other markets posted a double-digit increase in the metric: St. Louis (+12.5% to 78.3%), Minneapolis/St. Paul (+10.9% to 85.7%) and Atlanta (+10.3% to 80.2%).New York, New York, reported the steepest declines in ADR (-18.9% to US$308.89) and RevPAR (-20.3% to US$278.58). Occupancy in the market dipped 1.7% to 90.2%.Houston, Texas, was the only other Top 25 Market to show a double-digit decrease in RevPAR (-10.9% to US$64.84).Anaheim/Santa Ana, California, reported the largest drop in occupancy (-8.8% to 77.5%).

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HotStats UK Chain Hotels Market Review August 2016
Rate Growth Continues to Drive Profit Increase for North West Hoteliers In the absence of any occupancy growth this month, the 5.5% increase in achieved average room rate at hotels in the North West was responsible for fuelling a 3.5% year-on-year profit increase in the region, according to the latest data from HotStats.

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Hotstats: London and Regional UK Revenue Gap Doubles
A new study by hospitality intelligence firm, HotStats, identified that TrevPAR at hotels in London is now 35% above the regional UK, compared to 16% in 2000.

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In Focus: Patras, Greece | By Nana Boussia and Pavlos Papadimitriou
Patras is the regional capital of Western Greece and the country's third largest city. It is located 215 kilometers west of Athens, within Achaia Prefecture, while the port of the city serves as the main gateway to Greece from Western Europe. he urban complex of the city is the third most populous in Greece after the ones of Athens and Thessaloniki and it constitutes one of the largest financial, commercial, and cultural center of the Peloponnese Peninsula and Western Greece. The city hosts the University of Patras which is one of the country's most prominent public universities and the University Regional General Hospital which is affiliated with the University of Patras and has earned a reputation as a well-respected medical center.

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Cautious Optimism for Investors in Sub-Saharan Africa Hotel Sector
Investor sentiment for hotels in Sub-Saharan Africa remains positive despite economic headwinds in key markets, according to the latest JLL research into the sector. The long-term outlook continues to be strong and is driven by positive economic, demographic and tourism trends, with all indicators pointing to continued hotel demand growth as the region's economy and hotel sector continue to mature.Speaking at the Africa Hotel Investment Forum in Kigali, Rwanda, Xander Nijnens, Senior Vice-President, Hotels and Hospitality Group, JLL Sub-Saharan Africa (www.JLL.com), said: \"Our medium-term outlook for the hotel sector is positive and JLL forecasts demand growth of 3% to 5% per annum during the coming three years. From an investment perspective, we forecast USD1.7 billion to be invested in hotels in Sub-Saharan Africa in 2017 and a further USD1.9 billion in 2018. The new supply pipeline continues to grow with greater efficiency in realising new developments as the sector matures\".Nijnens added, \"The hotel sector is not, however, without its challenges and we are seeing an increasing divergence of the performance and outlook for key markets. The region offers a broad range of challenges and opportunities, as well as risk and reward. From the perspective of global capital searching for investment opportunities, the region can be a challenging one to navigate. Investors and lenders alike are recognising this and, while regional players continue to leverage their first mover advantage to entrench their presence in the sector, global capital will increasingly flow into the region as markets mature and transparency increases.\"Hotel developers and operators are increasingly understanding how to tap into this demand and are offering a broader hospitality offering best suited for each market and client base. This demand growth, paired with more effective matching of supply to demand, sets a good foundation for investment. Nijnens noted that, \"Long-term

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HIP: US Hotel Industry Remains Stagnant
Business activity for US hoteliers rose to a reading of 117.2 in August according to today's release of the Hotel Industry's Pulse (HIP) indicator. eforecasting.com's HIP - a predictive analytic which gauges monthly overall business conditions for hotels earlier than any industry indicator - edged by 0.1% in August after an increase of 0.1% in July. The index is set to equal 100 in 2010.

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Corporate Hotel Rate Negotiations 2017 Forecast A Change in the Balance of Power from Sellers to Buyers | By Bjorn Hanson
As the corporate and contract rate negotiation season is about to begin, the 2017 outlook is for a change in the balance of power from sellers to buyers. Corporate and contract rate negotiations generally begin during September and continue into December. Corporate and contract rates represent almost 20 percent of occupied U.S. room nights and almost 30 percent of U.S. lodging industry revenue.Following among the largest percent and dollar increases in corporate contract rates in decades of typically between 5.75 to 7 percent for 2016, the forecast for 2017 is for increases on 3.25 to 4.0 percent. Overall average daily rate (ADR) for the U.S. lodging industry is expected to increase approximately 4.5 to 5.0 percent in 2016, with smaller increases for 2017 of 4.0 to 4.5 percent.U.S. hotel occupancy in 2015, approximately 65.5 percent, was the highest since 1984 and consensus forecast for 2016 at the time of the negotiations was for occupancy to increase, so the balance of power in negotiations favored sellers. Actual occupancy will be slightly lower than occupancy in 2015.There are four factors that will have the greatest effect to shift the balance of power from the sellers to the buyers:

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2016 Manhattan Lodging Overview 2Q | By Roland deMillere tand Chris Fernandes
The 2016 HVS Manhattan Lodging Overview examines the effects of up and down economic cycles on Manhattan hotels, reviewing trends in hotel performance, supply, and demand over the past 25 years. The report also provides the most current information available on today's market, as well as forecasts for supply growth and hotel performance.

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2016 African Hotel Valuation Index | By Tim Smith, Tshepo Makhudu, Laura Dutrieux
Welcome to the third edition of the African Hotel Valuation Index (HVI). We are thrilled that the number of markets included in the study continues to grow. In the first edition we had 14 cities, that grew to 18 last year and this year it has increased again to 21 cities in 16 different countries. A 50% increase in markets in such a short space of time is indicative of the ever increasing interest in the African hotel market. Moreover, and equally importantly it also illustrates an improved transparency and increase in data across the continent.

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In Focus: Myanmar | By Eva Shen, Ho Mei Leng, Hok Yean CHEE
The Republic of the Union of Myanmar, which is also known as Burma, is a sovereign state in Southeast Asia bordered by Bangladesh, India, China, Laos, and Thailand. As the second-largest country in Southeast Asia, Myanmar has a total land area of 676,578 square kilometers and 1,920 kilometers of coastline, which borders the Andaman Sea and Bay of Bengal. Governed as a unitary parliamentary republic, there are 15 administrative states/regions in the country. The capital city was moved to Naypyidaw in 2005, from the previous capital and the largest commercial city, Yangon.

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September

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STR: US hotel results for week ending 24 September
The U.S. hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 18-24 September 2016, according to data from STR.STR analysts note that the week's results were heavily affected by the Yom Kippur (23 September 2015) and Eid al-Adha (24 September 2015) calendar shift and a subsequent performance jump in the Group segment.In comparison with the week that included both holidays, the industry's occupancy increased 2.6% to 72.0%. Average daily rate (ADR) was up 6.3% to US$130.52. Revenue per available room (RevPAR) grew 9.0% to US$94.00. Five Top 25 Markets reported a year-over-year RevPAR increase of more than 20.0%: Washington, D.C.-Maryland-Virginia (+30.2% to US$153.38); San Diego, California (+24.6% to US$129.15); Phoenix, Arizona (+24.5% to US$79.53); Chicago, Illinois (+23.9% to US$141.49); and San Francisco/San Mateo, California (+22.1% to US$274.65). Overall, 12 of the Top 25 Markets experienced a double-digit lift in RevPAR for the week.Eight markets posted a double-digit rise in ADR, two of which recorded an increase of more than 15.0% in the metric: San Francisco/San Mateo (+23.3% to US$297.78) and Washington, D.C. (+16.0% to US$179.92).Philadelphia, Pennsylvania-New Jersey, saw the largest increase in occupancy (+12.4% to 77.9%) but the only double-digit declines in ADR (-21.2% to US$138.33) and RevPAR (-11.4% to US$107.73).Two other markets experienced a double-digit increase in occupancy: Washington, D.C. (+12.2% to 85.3%) and San Diego (+12.1% to 82.5%).Houston, Texas (-7.6% to 63.7%), reported the steepest drop in occupancy.

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Hospitality Market Snapshot: Nairobi and its Suburbs
This article highlights current trends for hotel sector in Nairobi and its Suburbs and provides an outlook for the market for 2016 and beyond.

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Singapore: The Market Remains Robust - Horwath Special Market Report
Following a profound transformation into a leading hotel market in the Asia Pacific region, concerns are again at the forefront of hoteliers minds in Singapore. STR Global recently announced that in August this year, room supply increased by 5.2%, the highest since December 2013. Concerns on an ever growing supply and a recent trend of declining average room rates and hotel profitability have resulted in some negative media and talk of a need to cap future hotel supply growth. However, Horwath HTL believes that the Singapore market remains strong and resilient and that the future hotel supply pipeline does not represent the risk that is perhaps being perceived in the market. Now is not a time for Singapore hoteliers to panic and compete on price.

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STR: Central/South America hotel performance for August 2016
Hotels in the Central/South America region recorded mostly positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to August 2016 data from STR.Compared with August 2015, the Central/South America region reported nearly flat occupancy (-0.4% to 70.1%). Average daily rate (ADR), however, increased 3.3% to US$125.13, and revenue per available room (RevPAR) grew 2.9% to US$87.69. Performance of featured countries for August 2016 (local currency, year-over-year comparisons):Chile experienced a 3.9% increase in occupancy to 65.0%, but an 8.4% drop in ADR to CLP75,177.74 dragged RevPAR down 4.8% to CLP48,879.41. STR analysts cite the ADR comparison base from August 2015, Chile's highest on record for the month, as the reason behind the decline in the metric. However, the number of rooms sold in the country eclipsed 660,000 for the first August on record, thanks in part to strong tourism. According to the Chilean Undersecretary of Tourism, 5.6 million international visitors are expected to enter Chile for total-year 2016 which would top last year's record-high 4.4 million visitors.Costa Rica posted increases across the key performance metrics. Occupancy in the country rose 9.4% to 63.8%; ADR was up 6.8% to CRC66,406.70; and RevPAR increased 16.8% to CRC42,347.92. Costa Rica has reported 29 consecutive months of RevPAR growth in a 12-month moving average. According to the Costa Rican Tourism Institute, the number of visitor arrivals to the country increased 12.3% during the first half of 2016, and visitor spending reached a record level for the first six months of the year.El Salvador reported increases in each of the three metrics: occupancy (+7.2% to 67.8%), ADR (+5.3% to US$97.98) and RevPAR (+12.8% to US$66.39). STR analysts note that supply in El Salvador remained flat through the first eight months of 2016 after decreasing slightly (-0.4%) for total-year 2015. In addition, safety in the countr

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STR: Asia Pacific hotel performance for August 2016
Hotels in the Asia Pacific region reported mixed results in the three key performance metrics when reported in U.S. dollar constant currency, according to August 2016 data from STR.Compared with August 2015, the Asia Pacific region reported a 1.2% increase in occupancy to 73.3%. However, average daily rate (ADR) dropped 2.0% to US$98.38, and revenue per available room (RevPAR) dipped 0.8% to US$72.11. Performance of featured countries for August 2016 (local currency, year-over-year comparisons):Japan reported mostly negative results with a 1.8% decrease in occupancy to 85.5%, nearly flat ADR (+0.1% to JPY16,628.87) and a 1.7% decline in RevPAR to JPY14,223.98. Japan has experienced seven consecutive months with year-over-year decreases in occupancy. When looking at individual segments, the Luxury (-4.9%) and Upper Upscale (-3.9%) classes saw the largest occupancy decreases, while Midscale and Economy (+1.1%) reported the only increase.Malaysia recorded positive results across the three metrics. Occupancy in the country rose 1.1% to 73.2%; ADR increased 5.1% to MYR384.40; and RevPAR grew 6.3% to MYR281.42. The absolute RevPAR figure was the highest in Malaysia since July 2011. According to Tourism Malaysia, the country saw a 3.7% increase in tourist arrivals during the first half of 2016. The boost in tourism is reflected in an 8.2% year-to-date demand increase for Malaysia's hotel industry. Thailand posted positive results in each of the three metrics: occupancy (+4.9% to 79.8%), ADR (+2.1% to THB3,351.48) and RevPAR (+7.1% to THB2,673.59). STR analysts note that the bombings in Hua Hin temporarily hurt performance in that market, but overall demand for the country increased 7.1% during the month.Performance of featured markets for August 2016 (local currency, year-over-year comparisons):Bali, Indonesia, experienced an 8.1% rise in occupancy to 78.7%. However, a 9.3% drop in ADR to IDR1,627,551.11 dragged RevPAR down 1.9% to IDR1,280,476.30. The B

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STR: Europe hotel performance for August 2016
Hotels in Europe recorded mostly negative results in the three key performance metrics when reported in euro constant currency, according to August 2016 data from STR.Compared with August 2015, Europe reported an occupancy decrease of 1.5% to 75.8%. Average daily rate (ADR) was flat at EUR115.94. Revenue per available room (RevPAR) dipped 1.5% to EUR87.88.Performance of featured countries for August 2016 (local currency, year-over-year comparisons):Israel reported decreases across the three metrics: occupancy (-9.5% to 69.9%), ADR (-3.1% to ILS908.84) and RevPAR (-12.2% to ILS635.64). August performance in the country has fluctuated significantly over the past several years due to various political unrest issues, according to STRanalysts.Russia posted a 6.7% increase in occupancy to 70.6% as well as double-digit growth in ADR (+16.5% to RUB4,824.38) and RevPAR (+24.3% to RUB3,408.06). The absolute occupancy level was the highest in the country since September 2011. STR analysts cite a boost in domestic travel, as a result of a weakened Russian Ruble, as a reason behind the performance.Malta recorded increases in each of the three metrics. Occupancy in the country increased 0.9% to 92.8%; ADR was up 4.3% to EUR155.74; and RevPAR grew 5.3% to EUR144.54. Being a particularly seasonal market, Malta has seen fairly strong performance since May, and hoteliers capitalized on high demand with higher rates throughout the summer months. The August absolute RevPAR level was the highest for any month on record in Malta.Performance of featured markets for August 2016 (local currency, year-over-year comparisons):Barcelona, Spain, experienced a 0.8% decrease in occupancy to 86.8%, but a 10.2% rise in ADR to EUR144.58 pushed RevPAR up 9.4% to EUR125.54. With fairly flat occupancy performances, ADR has been the driver of RevPAR in the market since the beginning of the year. Hoteliers maintained their focus on rate in August, leading to the market's highest absolut

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STR: Middle East and Africa hotel performance for August 2016
Hotels in the Middle East reported mixed August 2016 results, while hotels in Africa posted mostly flat results in the three key performance metrics when reported in U.S. dollar constant currency, according to data from STR.Compared with August 2015, the Middle East recorded a 2.3% rise in occupancy to 65.2%. However, average daily rate (ADR) was down 5.4% to US$141.89, and revenue per available room (RevPAR) fell 3.3% to US$92.54. Africa experienced a 0.8% increase in occupancy to 62.9%, flat ADR at US$126.60 and a 0.9% lift in RevPAR to US$79.60.Performance of featured countries for August 2016 (local currency, year-over-year comparisons):Kenya recorded a 9.3% increase in occupancy to 60.3% as well as double-digit growth in ADR (+11.5% to KES15,969.23) and RevPAR (+21.8% to KES9,631.80). The absolute ADR level was the highest on record for Kenya, and the absolute RevPAR level was the highest for the country since September 2012.Oman saw a 3.0% rise in occupancy to 49.2%, but a 10.0% drop in ADR to OMR57.65 dragged RevPAR down 7.3% to OMR28.34. STR analysts point to low oil prices as well as a third straight month of double-digit supply growth as a reason behind the overall decline. Oman has reported a year-over- year decrease in ADR for 20 consecutive months.The United Arab Emirates reported an increase in occupancy (+2.1% to 73.4%) but declines in ADR (-8.8% to AED463.51) and RevPAR (-6.8% to AED339.98). Demand (+5.1% year to date) has remained well ahead of last year's pace, but supply (+5.2% YTD) continues to pressure rate in the region. ADR in the United Arab Emirates has decreased 20 consecutive months in year-over-year comparisons.Performance of featured markets for August 2016 (local currency, year-over-year comparisons):Cape Town, South Africa, posted increases across the key performance metrics: occupancy (+5.3% to 63.1%), ADR (+15.8% to ZAR1,319.05) and RevPAR (+22.0% to ZAR831.93). Occupancy in the market has grown 12 straight months i

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In Focus: Zurich | By Nicole Perreten
Zurich remains an important finacial centre; however, the global finanical crisis took its toll and the corporate market, especially, has become much more price-sensitive, affecting hotel rates and meeting and events revenue. Unpegging the Swiss franc from the euro in January 2015 made the country instantly more expensive, which not only had repercussions on the tourism industry but also the competitiveness of its export economy.

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Facing the future: UK hotels forecast 2017
While the full impact of the UK vote to leave the EU will not be known for some time, economic growth is expected to slow. A weak pound should provide a boost to inbound leisure travel, but security concerns, tight corporate travel budgets, above average supply growth (especially in London) and consumer and corporate uncertainty will create an unfavorable backdrop. The industry is also tackling ongoing disruption via the Sharing Economy. We retain a cautious outlook.

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August 2016: bleak outlook for French hoteliers | hospitality-on.com
This August 2016 once again offers bleak results marked by a more generalized down trend. Unlike the previous months, no category was spared and the trend may be observed in the different regions as well as in Paris and the Ile de France. The impact of the attacks last July 14 in Nice was unfortunately quick to take effect: the strong drops in Paris, the ile de France and PACA regions all pulled the national result down into the red, even if certain regions, particularly shorelines, showed slight growth.

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Hotel Profit Forecasts Revised Down Across Europe And MENA Markets
Drilling down to the all-important metric of gross operating profit, or GOPPAR for short, findings in the latest Hotel Market Profitability Forecast Reports show that the profit projections are less optimistic for some key destinations during the forecast horizon according to the latest quarterly forecast data released by e-forecasting and HotStats.

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In Focus : Andalusia and Costa del Sol | By Paolo Buffa and Ezio Poinelli
This market snapshot provides an overview of the recent performance of the lodging industry in Andalusia, Spain but more specifically of the area of Costa del Sol in terms of demand and supply and analyses past tourism trends.

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STR: Asia Pacific hotel pipeline for August 2016
STR's August 2016 Pipeline Report shows 584,015 rooms in 2,538 projects Under Contract in the Asia Pacific region. The total represents a 5.4% increase in rooms Under Contract compared with August 2015.Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The region reported 244,554 rooms in 1,019 projects In Construction for the month, which is a 4.4% decrease in year-over-year comparisons.Among the countries in the region, China reported the most rooms In Construction with 131,135 rooms in 460 hotels. Two other countries reported more than 20,000 rooms under construction: India (23,563 rooms in 145 hotels) and Indonesia (22,169 rooms in 108 hotels).A note to editors: As of 1 March 2016, all references to STR data and analysis should cite \"STR\" as the source. Please refrain from citing \"STR, Inc.\" \"Smith Travel Research\" or \"STR Global\" in sourcing as those names no longer fit within the updated STR brand.

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STR: Middle East and Africa hotel pipeline for August 2016
STR's August 2016 Pipeline Report shows 156,460 rooms in 554 projects Under Contract in the Middle East and 56,846 rooms in 300 projects Under Contract in Africa. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The Under Contract total in the Middle East represents a 20.1% increase in rooms Under Contract compared with August 2015. Specifically in the In Construction phase, the Middle East reported 83,653 rooms in 261 hotels, a 14.4% increase in year-over-year comparisons.The Under Contract total in Africa represents a 25.4% increase in rooms Under Contract compared with August 2015. Specifically in the In Construction phase, Africa reported 29,928 rooms in 157 hotels, a 22.6% increase in year-over-year comparisons.Among the countries in the Middle East and Africa, Saudi Arabia reported the most rooms In Construction with 35,611 rooms in 79 hotels. United Arab Emirates followed with 28,082 rooms in 97 hotels. Four other countries each reported more than 3,000 rooms In Construction: Qatar (7,980 rooms in 34 hotels), Egypt (6,128 rooms in 18 hotels), Jordan (3,161 rooms in 10 hotels) and Angola (3,157 rooms in 26 hotels).

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STR: Europe hotel pipeline for August 2016
STR's August 2016 Pipeline Report shows 150,530 rooms in 1,055 projects Under Contract in Europe. The total represents a 15.7% increase in rooms Under Contract compared with August 2015.Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.Europe reported 64,454 rooms in 433 projects In Construction for the month, which is a 19.9% increase in year-over-year comparisons.Among the countries in the region, the United Kingdom reported the most rooms In Construction with 15,643 rooms in 148 hotels. Three additional countries reported more than 5,000 rooms in the construction phase: Germany (11,006 rooms in 56 hotels), Turkey (7,951 rooms in 52 hotels) and Russia (7,537 rooms in 37 hotels).A note to editors: As of 1 March 2016, all references to STR data and analysis should cite \"STR\" as the source. Please refrain from citing \"STR, Inc.\" \"Smith Travel Research\" or \"STR Global\" in sourcing as those names no longer fit within the updated STR brand.

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STR releases preliminary August 2016 data for London
STR's preliminary August 2016 data for London, England, indicates nearly flat occupancy and lower rates.Based on daily data from August, London reported the following in year-over-year comparisons:

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STR releases preliminary August 2016 data for Munich
STR's preliminary August 2016 data for Munich, Germany, indicates negative performance due to a comparison with a strong month last year.Based on daily data from August, Munich reported the following in year-over-year comparisons:

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STR releases preliminary August 2016 data for Dubai
STR's preliminary August 2016 data for Dubai, United Arab Emirates, indicates mixed performance results.Based on daily data from August, Dubai reported the following in year-over-year comparisons:

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STR releases preliminary August 2016 data for Singapore
STR's preliminary August 2016 data for Singapore indicates solid occupancy levels but negative year-over-year performance.Based on daily data from August, Singapore reported the following in year-over-year comparisons:

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STR releases preliminary August 2016 data for Melbourne
STR's preliminary August 2016 data for Melbourne, Australia, indicates flat year-over-year performance.Based on daily data from August, Melbourne reported the following in year-over-year comparisons:

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Caribbean Hotel Profits Continue to Grow Cuba and Zika Impact Performance
CBRE Hotels Americas Research announced that the average Caribbean hotel experienced a 10.2 percent increase in gross operating profit (GOP) during 2015, according to its newly released tenth edition of Caribbean Trends in the Hotel Industry. This is the fourth consecutive year that Caribbean hotels have seen a double-digit increase in GOP. Over the course of 2015, the Caribbean hotel and tourism industries saw growth in all major metrics except occupancy. Hotels in the Caribbean experienced growth in ADR, RevPAR, total operating revenue and profits in 2015 even in the face of declining occupancy. Data in the Caribbean Trends in the Hotel Industry report was aggregated using the 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) to ensure the comparability and accuracy of the report. \"There are a number of significant events from 2015 that will continue into 2016 and have a significant impact on Caribbean tourism, from the reopening of Cuba to American visitors to the Zika virus, economic uncertainty to the opening of new hotels, the expansion of the Panama Canal to the establishment of new and increased airlift to the Caribbean islands. Overall, Caribbean hotels are continuing to perform well, but still lag behind U.S. hotels performance,\" said Scott Smith, managing director, CBRE Hotels' Consulting. Revenues, Expenses, and Profits Total operating revenue for the hotels in the Caribbean Trends sample increased by 6.0 percent from 2014 to 2015. Revenue grew in all four revenue generating departments. Rooms revenue, the largest source of revenue for hotels in the Caribbean, increased by 3.8 percent, the result of a 0.9 percent rise in occupancy and a 2.6 percent jump in average daily room rates (ADR). After lagging for several years, food and beverage revenue for Caribbean hotels grew at a greater pace (5.2 percent) than rooms revenue. The Caribbean hotel industry has lagged behind the United States hotel industry in te

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STR: NFL averages $75m impact on hotel room revenue
The National Football League has generated an average impact of US$75m on hotel room revenue during the past eight seasons, according to a study by STR's consulting and analytics division. In 2015, the NFL had a net impact of US$77m on hotel room revenue.For the purposes of its analysis, STR matched every NFL game since 2008 with its respective home city to determine the impact on local hotels. Neutral site games like the Super Bowl and the International Series were excluded. STR also determined normalized levels of demand and room rate performance based on weekly and monthly fluctuations as well as overall seasonality.Key findings from the analysis included:

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French Hotel Industry Performance - July 2016
The Euro championships organised in France and the daily hotel performances communicated by our partner, STR, signalled some hope for July. Paris and the Cote d'Azur finished July on a very negative note, with RevPAR significantly dropping in all categories, given the sharp decline in occupancy. However, Regional France withstood better, recording encouraging increases in RevPAR (+4% to +9%, depending on the category), boosted by growth in average rates.

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2016 Hotels in India: Trends & Opportunities | By Achin Khanna and Diksha Chopra
The season's first rainfall. A child's first words. Your very first pay check. Beginnings are a cherished feeling! Why should it be any different in the world of hotels?

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Indonesia is the Next China for the Hospitality Industry | By Larry Mogelonsky
Right now, we are all still talking about the rapid growth of China and to a lesser extend India, Russia and Brazil under the collective banner of BRIC. Their evolution into capitalistic territories has presented countless lucrative prospects for hospitality organizations both big and small. But there should be a fifth name in this acronym which is often overshadowed despite what's happening on the ground and despite it being the fourth most populous country in the world.

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HIL: Predictive Analytic Continues to Show Slow Future Business Activity for US Hoteliers
Future business activity in U.S. hotels rose in July according to the latest reading of the Hotels' future business conditions (HIL) indicator. eforecasting.com's HIL, a composite indicator that gauges future monthly overall business conditions in the U.S. hotel industry, increased by 0.1% in July to 127.8, following a nil growth in June. The index is set to equal 100 in 2010.

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U.S. Hotel Markets Coming into Balance As Demand and Supply Growth Rates Converge
The magnitude of change in the major industry indicators is not pleasing U.S. hotel owners and operators. New development activity continues to accelerate, while growth in average daily room rates (ADR) has decelerated. The sluggish start during the first half of the year resulted in another downgrade by CBRE Hotels' Americas Research of its forecast for the entirety of 2016.

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HotStats European Chain Hotels Market Review July 2016
Whilst total revenue levels at Berlin hotels fell by 8.3% this month, creeping costs in the German capital contributed to an 18.8% year-on-year drop in profit, according to the latest data from HotStats. Despite a packed summer schedule in the city, which included the six-day Classic Open Air Festival and Berlin Fashion Week, occupancy for Berlin hotels fell by 5.0 percentage points year-on-year to 80.1%, which in addition to a 2.6% decline in achieved average room rate, contributed to an 8.4% year-on-year decline in RevPAR (Revenue per Available Room).

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Freitag's 5: July occupancy drops, demand sets record | hotelnewsnow.com
July's occupancy decline was the sharpest of 2016 so far, but July was also the highest room demand month ever. Here are five things you need to know about how the U.S. hotel industry performed in July, courtesy of STR, HNN's parent company.

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HotStats UK Chain Hotels Market Review July 2016
Profit Growth Continues Apace at Eastern Region Hotels Year-on-year profit per room at Eastern region hotels increased by 5.5% this month, contributing to the 3.3% increase for year-to-date 2016 and the increase of more than 45.0% in this measure over the last three years, according to the latest data from HotStats.

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August

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U.S. Lodging Industry Fees and Surcharges Forecast to Increase to a New Record Level in 2016 $2.55 Billion | By Bjorn Hanson
Following the 2015 record of $2.45 billion, total fees and surcharges collected by U.S. hotels are forecast to increase to another record level of $2.55 billion in 2016. Although the amount will establish a record level of fees and surcharges, the percent increase will be the lowest since 2009.The increase for 2016 reflects a combination of approximately 2.0 percent more occupied hotel rooms than in 2015, more categories of fees and surcharges, and higher amounts charged, but lower fees and surcharges for high speed Internet access, for a total increase of approximately 4.0 percent.Fees and surcharges emerged as a common industry practice around 1997, and a notable event in the history of fees and surcharges was when energy surcharges were introduced for a large number of hotels in 2000. Since then there have been numerous categories of fees and surcharges introduced.Examples of fees and surcharges include: resort or amenity fees, early departure fees, reservation cancellation fees related to timing of cancellation, Internet fees, telephone call surcharges, some business center fees (including charges for receiving faxes and sending/receiving overnight packages), room service delivery surcharges, mini-bar restocking fees, charges for in-room safes, automatic gratuities and surcharges for other than all-inclusive resorts, baggage holding fees for guests leaving luggage with bell staff after checking out of a hotel but before departure, and charges for unattended parking. For groups there have been increased charges for bartenders and other staff at events, special charges for set-up and breakdown of meeting rooms, and administrative fees for master folio billing.Among the newest of fees and surcharges relate to a \"guarantee\" of a specific room type such as a room with a King bed or two Queen beds, or a room on a high floor, typically subject to availability.An increasingly common relatively new fee or surcharge is for early check-in, primarily for

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STR: US hotel results for week ending 20 August
The U.S. hotel industry reported positive results in the three key performance metrics during the week of 14- 20 August 2016, according to data from STR.In year-over-year comparisons, the industry's occupancy was nearly flat (+0.3% to 71.3%). Average daily rate increased 3.2% to US$124.11, and revenue per available room grew 3.6% to US$88.50. Among the Top 25 Markets, Detroit, Michigan, recorded the only double-digit increase in occupancy (+11.4% to 79.3%) as well as the largest increase in RevPAR (+18.5% to US$80.53). ADR in the market was up 6.4% to US$101.53.Four additional markets experienced a double-digit RevPAR lift for the week: Norfolk/Virginia Beach, Virginia (+14.1% to US$101.83); Tampa/St. Petersburg, Florida (+14.1% to US$72.25); Nashville, Tennessee (+12.9% to US$103.79); and Los Angeles/Long Beach, California (11.8% to US$174.07).Los Angeles/Long Beach posted the largest rise in ADR, up 9.8% to US$196.63. Oahu Island, Hawaii (+8.5% to US$244.96), ranked second in year-over-year ADR percentage change.Houston, Texas, reported the largest decreases across the three metrics. Occupancy fell 15.5% to 57.3%; ADR was down 6.0% to US$98.72; and RevPAR dropped 20.6% to US$56.60.New Orleans, Louisiana, and Boston, Massachusetts, reported the only other double-digit decreases in the three key metrics. RevPAR in New Orleans declined 12.7% to US$53.97, and RevPAR in Boston fell 11.1% to US$155.28.A note to editors: As of 1 March 2016, all references to STR data and analysis should cite \"STR\" as the source. Please refrain from citing \"STR, Inc.\" \"Smith Travel Research\" or \"STR Global\" in sourcing as those names no longer fit within the updated STR brand.Additional Performance DataAre you a member of the media looking for performance data for a hotel market not included in this release? STR's sample comprises nearly 55,000 hotels and more than 7.4 million hotel rooms around the globe. Please refer to the contacts listed below for additional

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STR: Central/South America hotel performance for July 2016
Hotels in the Central/South America region recorded mixed results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2016 data from STR.Compared with July 2015, the Central/South America region reported a 4.9% decrease in occupancy to 56.7%. Average daily rate (ADR), however, increased 10.1% to US$89.84, and revenue per available room (RevPAR) grew 4.7% to US$50.93. Performance of featured countries for July 2016 (local currency, year-over-year comparisons):Ecuador reported decreases across the three key performance metrics. The country's occupancy fell 13.0% to 59.4%; ADR was down 6.8% to US$97.20; and RevPAR dropped 18.9% to US$57.76. According to STR analysts, Ecuador's economy is heavily dependent on the oil industry. With crude oil prices down, and Ecuador being the only fully dollarized South American market, the country has become less competitive for exports compared with neighboring nations like Colombia and Peru. The pair of earthquakes that hit the country's coast on 11 July also affected performance. Panama experienced increases in occupancy (+5.0% to 51.6%) and RevPAR (+1.4% to PAB49.22), whereas ADR dropped 3.4% to PAB95.36. Occupancy has increased year over year for six of the seven months in 2016, while ADR has decreased in five of the seven months. STR analysts believe that the country has become a more attractive tourist destination, as evidenced by a 6.0% year-to-date increase in Transient demand and a 2.9% rise in Group demand.Peru recorded nearly flat occupancy (+0.2% to 65.8%) as well as increases in ADR (+5.2% to PEN442.12) and RevPAR (+5.4% to PEN290.94). The absolute occupancy followed a trend of the last several months, while the rise in ADR is likely due to a 5.6% demand increase in the Luxury and Upper Upscale segments.Performance of featured markets for July 2016 (local currency, year-over-year comparisons):In the month prior to hosting the Summer Olympics, Rio de Jane

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London hotel prices drop by 16% this month
Hotel prices have fallen in major cities across the UK this month, according to the trivago Hotel Price Index (tHPI), recorded monthly by hotel search websitetrivago.co.uk. In comparison to July, London hotel prices have dropped by 16 per cent, from an average of 171 in July to an average of 143 during August. The only exception is Edinburgh, which hosted the International and Fringe festivals this month and subsequently saw a 35 per cent increase in hotel prices, from 150 per night in July to 202 in August.

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STR: Asia Pacific hotel performance for July 2016
Hotels in the Asia Pacific region recorded mostly positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2016 data from STR.Compared with July 2015, the Asia Pacific region reported a 2.8% increase in occupancy to 72.1%. Average daily rate (ADR) was nearly flat (-0.3% to US$96.62), while revenue per available room (RevPAR) grew 2.4% to US$69.68.Performance of featured countries for July 2016 (local currency, year-over-year comparisons):India recorded positive performance figures across the three key performance metrics: occupancy (+6.4% to 61.9%), ADR (+3.0% to INR5,068.31) and RevPAR (+9.6% to INR3,139.32). According to the India Ministry of Tourism, International visitors to the country increased 17.1% compared with July 2015. Bangladesh, the United States and the United Kingdom represented the top three feeder markets.Singapore reported mostly flat performance in the three metrics: occupancy (+0.4% to 87.8%), ADR (-1.0% to SGD276.97) and RevPAR (-0.6% to SGD243.16). July events in the country included Singapore International Water Week (10-14 July) and the World Cities Summit (10-14 July). A 4.3% rise in supply placed pressure on ADR, according to STR analysts. The Upper Midscale class posted the highest supply increase (+8.6%).South Korea saw significant increases in occupancy (+41.6% to 76.1%) and RevPAR (+38.1% to KRW126,633.06). ADR in the country was down 2.4% to KRW166,423.59. The performance was mainly due to a low comparison base with July 2015 when the country's hotel industry was negatively affected by the Middle East respiratory syndrome outbreak. In addition, the 76.1% absolute occupancy level marked South Korea's highest July occupancy figure since 2013. Year to date in 2016, South Korea's occupancy is up 11.0% compared with the first seven months of 2015, while ADR is down 4.9% for the same time period.Vietnam posted growth in each of the three metrics. Occupancy in t

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STR: Middle East and Africa hotel performance for July 2016
Hotels in the Middle East reported mixed results in July 2016, while hotels in Africa posted positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to data from STR.Compared with July 2015, the Middle East recorded a 4.8% rise in occupancy to 58.0%. However, average daily rate (ADR) was down 15.9% to US$161.82, and revenue per available room (RevPAR) fell 11.9% to US$93.88. Africa experienced a 4.6% increase in occupancy to 56.9%, a 10.8% rise in ADR to US$103.42 and a 15.9% spike in RevPAR to US$58.89.Performance of featured countries for July 2016 (local currency, year-over-year comparisons):Kuwait recorded increases across the three key performance metrics: occupancy (+5.1% to 38.0%), ADR (+0.8% to KWD66.36) and RevPAR (+5.9% to KWD25.21). Performance was primarily driven by a 25.9% increase in occupancy in the Kuwait Area submarket. However, in the Kuwait City submarket, occupancy fell 3.8%.Qatar reported decreases in each of the three metrics. Occupancy in the country fell 6.6% to 53.3%; ADR was down 0.8% to QAR491.68; and RevPAR dropped 7.3% to QAR261.93. According to STR analysts, the month's performance was mostly affected by an 8.0% year-over-year increase in supply.Tunisia posted a significant spike in both occupancy (+116.7% to 55.3%) and RevPAR (+100.1% to TND103.37), while the country's ADR dropped 7.7% to TND187.00. In the comparable month from last year, Tunisia's occupancy level was just 25.5% following the terrorist attack in Sousse the previous month. Despite the stark year-over-year percentage changes, the absolute occupancy level for July 2016 was actually the highest for any month in Tunisia since October 2014. STR analysts attribute the performance to security efforts in the country and campaigns focused on regaining tourism business. Lower rates also may have played a role in a 114.5% year-over-year increase in demand.Performance of featured markets for July 2016 (local

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STR: Europe hotel performance for July 2016
Hotels in Europe recorded mostly positive results in the three key performance metrics when reported in euro constant currency, according to July 2016 data from STR.Compared with July 2015, Europe reported nearly flat occupancy (-0.4% to 76.7%). However, average daily rate was up 3.9% to EUR118.80, and revenue per available room increased 3.5% to EUR91.17.Performance of featured countries for July 2016 (local currency, year-over-year comparisons):Germany reported a 0.7% decrease in occupancy to 72.5%, but a 3.0% rise in ADR to EUR92.92 pushed a 2.3% increase in RevPAR to EUR67.38. Transient demand increased 4.9% in July, with notable growth in the Upscale segment (+13.5%).Poland posted a 3.1% increase in occupancy to 77.3% as well as double-digit growth in ADR (+18.8% to PLN292.90) and RevPAR (+22.5% to PLN226.46). The top performing Polish markets were Poznan, with a 27.3% increase in occupancy, and Krakow, with a 42.0% increase in ADR. Poznan hosted the 24th World Congress of Political Science on 23-28 July. Krakow hosted World Youth Day on 25-31 July.Portugal recorded a 2.8% rise in occupancy to 83.4% along with double-digit increases in ADR (+10.7% to EUR121.89) and RevPAR (+13.9% to EUR101.66). Hotels in the Upper Midscale class posted the strongest growth levels, with a 6.0% increase in occupancy and a 13.5% rise in ADR.Performance of featured markets for July 2016 (local currency, year- over-year comparisons):London, England, reported its first month of the year with noticeable RevPAR growth (+4.0% to GBP137.19). The market recorded nearly flat occupancy (+0.1% to 88.2%) but an increase in ADR (+3.8% to GBP155.47) helped by the 2016 Wimbledon Championships (27 June to 10 July) and the biennial Farnborough International Airshow (11-17 July). The Luxury class was the top performing segment (RevPAR +8.1%) for the month.Madrid, Spain, experienced a 2.0% drop in occupancy to 65.4%, but a 4.4% rise in ADR to EUR90.06 drove RevPAR up 2.3% to EUR58.8

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The Austrian Tourism Market - Horwath Special Market Report
Austria offers an exciting and rich variety of tourist attractions to its visitors: modern cities, beautiful nature and well-preserved cultural highlights. The so-called \"Alpenrepublik\" is also home to many international events such as the Salzburg and Bregenz Festival or the Opera Ball and Life Ball in Vienna. Austria is an attractive year-round tourist destination and welcomed almost 40 million overnight visitors in 2015. Since 2000, tourism arrivals have increased by a total of 49% and overnight stays by 19% to reach new record levels.

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Global tourism GDP resilient this year, but woes for France, Turkey | reuters.com
Travel and tourism will contribute less than previously forecast to the economies of France, Turkey and Brazil this year, hit by attacks, political and economic turmoil, though globally the sector is resilient, the World Travel and Tourism Council said. Brazil is hosting the Olympic Games this year but its travel and tourism sector has suffered under a political crisis, its worst recession since the 1930s, and the Zika virus. The sector's contribution to Brazil's gross domestic product (GDP) is expected to shrink by 1.6 percent this year, against a previous forecast for a drop of 0.9 percent, the WTTC said.

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STR: US hotel performance for July 2016
The U.S. hotel industry reported mixed results in the three key performance metrics during July 2016, according to data from STR.Compared with July 2015, the U.S. hotel industry's occupancy decreased 1.0% to 74.4%. However, average daily rate for the month was up 3.6% to US$128.77, and revenue per available room grew 2.5% to US$95.81.\"July supply growth crept up 1.6%, and demand growth slowed to an anemic 0.6%basically no growth at all,\" said Jan Freitag, STR's senior VP for lodging insights. \"Math then dictates that occupancy has to decline by 1%, but luckily, there was a bit of pricing power (ADR +3.6%). This month's occupancy decline is the sharpest this year, but the ADR growth is the highest (tied with February and June).\"Freitag also noted that U.S. RevPAR has grown in year-over-year comparisons for 77 consecutive months, and July demand was the highest for any month on record at more than 117 million roomnights sold.Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, posted the largest year-over-year increases in each of the three metrics. Occupancy in the market rose 6.2% to 78.6%; ADR was up 30.5% to US$158.53; and RevPAR increased 38.6% to US$124.57. Philadelphia hosted the Democratic National Convention on 25-28 July.Other top RevPAR percentage changes were reported in Tampa/St. Petersburg, Florida (+9.8% to US$83.93); Norfolk/Virginia Beach, Virginia (+8.3% to US$105.39); and Los Angeles/Long Beach, California (+7.1% to US$163.29).Houston, Texas, reported the steepest declines across the three key performance metrics. Occupancy in the market fell 12.8% to 61.2%; ADR was down 8.8% to US$95.71; and RevPAR dropped 20.5% to US$58.60.New Orleans, Louisiana, reported the next largest year-over- year decrease in RevPAR (-6.6% to US$85.40).Outside of Philadelphia and Houston, no other Top 25 Market reported a double-digit increase or decrease in the metrics.\"The Top 25 Markets are seeing the majority of new supply (+2.1%), so t

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HotStats MENA Chain Hotels Market Review June 2016
Profit Conversion at Dubai Hotels Hits Low as Summer Begins Profit conversion at hotels in Dubai fell to just 6.0% of total revenue in June as the combination of Ramadan and the start of the peak holiday period contributed to declining demand levels, according to the latest data from HotStats.

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HotStats European Chain Hotels Market Review June 2016
Profit Levels at Milan Hotels Realigning After Bumper Expo YearProfit per room at hotels in Milan fell by 38.3% this month as top and bottom line performance fell back towards historic levels following the huge boost in 2015 as a result of the city hosting the Expo Milano, according to the latest data from HotStats.

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HotStats UK Chain Hotels Market Review June 2016
Rooms Department Profit on the Slide at North East Hotels Year-on-year profit per room in the Rooms department at North East hotels fell by 7.2% in June as a result of a drop in Rooms revenue and rising departmental costs, according to the latest data from HotStats.

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Terrorism fears up stakes for tourism as Europe travel falls off a cliff' | cnbc.com
Paris. Nice. Brussels. Orlando. Istanbul. Venezuela. Brazil. Baton Rouge. Dallas. The list of places around the world touched by terrorism, violence, rising crime rates and health alerts continues to grow, along with the impact on the travel and tourism industry. In 2015, the sector contributed an estimated $7.2 trillion to the world's economic output and supported more than 284 million jobs worldwide, according the World Travel & Tourism Council.

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July

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STR: Mexico hotel performance for Q2 2016
The Mexican hotel industry reported mostly positive results in the three key performance metrics for the second quarter of 2016, according to data fromSTR.Compared with Q2 2015, the Mexican hotel industry's occupancy was mostly flat (-0.5% to 63.3%). However, average daily rate was up 15.8% to MXN2,079.87, and revenue per available room grew 15.2% to MXN1,317.20.\"Performance was pretty similar to the first quarter with a weakened Peso as the main reason behind Mexico's hotel success,\" said Fatima Thompson, STR's associate director of business development, hotels. \"Based on proximity alone, Mexico gains a lot of travelers from the U.S. But a lot of people realize that now is a good time to take advantage of the value, and hoteliers have capitalized with increased rates. It will be interesting to monitor the impact of Brexit on the Peso and ultimately the hotel industry in Mexico.\"Among the key markets in the country, Northwest Mexico posted the largest spike in RevPAR (+52.3% to MXN1,432.36), driven primarily by the country's largest increase in ADR (+49.2% to MXN2,355.25). Occupancy in the market was up 2.1% to 60.8%.Mexico City experienced the largest rise in occupancy (+8.3% to 70.7%). That coupled with a 19.9% increase in ADR to MXN2,486.43 pushed RevPAR up 29.8% to MXN1,758.07.The only decreases in any of the three key performance metrics were reported in the Yucatan Peninsula (occupancy -6.4% to 69.1%) and Northeast Mexico-Monterrey (occupancy -0.2% to 65.6%).\"The country as a whole is such a great deal, it appears as if people are exploring areas outside of the always popular destinations.\"A note to editors: As of 1 March 2016, all references to STR data and analysis should cite \"STR\" as the source. Please refrain from citing \"STR, Inc.\" \"Smith Travel Research\" or \"STR Global\" in sourcing as those names no longer fit within the updated STR brand.Additional Performance DataAre you a member of the media looking for pe

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STR: Canada hotel performance for Q2 2016
The Canadian hotel industry reported positive results in the three key performance metrics for the second quarter of 2016, according to data from STR.Compared with Q2 2015, the Canadian hotel industry's occupancy was nearly flat (+0.4% to 67.1%). Average daily rate was up 2.5% to CAD146.90. Revenue per available room increased 2.9% to CAD98.62.Among the provinces, Prince Edward Island recorded the largest year-over-year increases across the three key performance metrics. Occupancy in the province rose 10.0% to 58.7%; ADR was up 6.6% to CAD137.61; and RevPAR grew 17.3% to CAD80.82.The only other double-digit increase came in Nova Scotia, where RevPAR was up 14.7% to CAD91.63.Alberta experienced the steepest declines in occupancy (-7.8% to 57.3%) and RevPAR (-11.1% to CAD82.79).Saskatchewan reported the largest drop in ADR (-4.7% to CAD127.50) and the only other double-digit decline in RevPAR (-10.2% to CAD72.92).A note to editors: As of 1 March 2016, all references to STR data and analysis should cite \"STR\" as the source. Please refrain from citing \"STR, Inc.\" \"Smith Travel Research\" or \"STR Global\" in sourcing as those names no longer fit within the updated STR brand.Additional Performance DataAre you a member of the media looking for performance data for a hotel market not included in this release? STR's sample comprises more than 54,000 hotels and 7.3 million hotel rooms around the globe. Please refer to the contacts listed below for additional data requests.

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How hoteliers can capitalize on Twitter’s evolution

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Horwath Special Market Report: Sydney Market Overview
Australia's hotel markets saw mixed results in 2015. Sydney and Melbourne continue to perform well while the resource heavy cities of Darwin, Brisbane and Perth all posted drops in RevPAR. In 2015 Sydney was the best performing hotel market in Australia, recording an occupancy of 85% and an ADR of A$212. After a number of years of almost no supply growth, new properties are finally entering the market. Robust economic growth coupled with rising domestic and international tourism numbers should see demand for rooms continue to grow, offsetting the supply increases. 2016 is set to be another strong year for Sydney's hotel market, with RevPAR likely to grow 1.7% to A$184. Overall we forecast RevPAR to grow at a robust CAAG rate of 2.9% in the years to 2020.

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Hotel Profit Implications from Rising Wages and Inflation in the U.S. | By Jack Corgel
Macroeconomic models based on the Phillips Curve predict that as the unemployment rate declines toward the long- run, natural rate, the pace of wage and price growth accelerates and inflation rises.1 In this paper I analyze the profitability prospects for the U.S. hotel industry in today's relatively volatile economic environment, keeping in mind the Phillips Curve's general principle that inflation and employment have an inverse, but relatively stable short-term relationship. Although employment and economic growth in the U.S. have been uneven in recent months, the unemployment rate has declined to less than 5 percent, which many economists believe is close to the natural rate. Growth in wages and salaries, as measured by the Employment Cost Index, has concurrently been moving upward between 2.5 and 3.0 percent during the past 12 months. At the same time, general inflation remains below levels that might typically be expected this late in the cycle, although core inflation is bumping up against the Federal Reserve's 2- percent target. If the inflation rate continues to move upward as predicted by Phillips Curve models (and encouraged by the Federal Reserve), rising labor costs and other expenses will exert downward pressure on U.S. business profits. Backward movement up the Phillips Curve (with greater inflation) coincides with an expanding economy. In that scenario, prices of goods and services also will rise in real terms if their supply cannot keep up with demand, and producers have the ability to raise prices (absent fixed-price contracts such as leases).

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HotStats MENA Chain Hotels Market Review May 2016
Despite significantly reducing both overhead and labour costs, hotels in Abu Dhabi were unable to offset the decline in revenue across the major operating departments this month and as a result year-on-year profit per room dropped by 6.9%, according to the latest data from HotStats.

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HotStats UK Chain Hotels Market Review May 2016
The 2.6 % year-on-year increase in profit per room this month contributed to a 3.4% year-to-date uplift and the ongoing positive story of bottom line growth at hotels in the South West, according to the latest data from HotStats. The South West has been one of the strongest performing regions in recent years, with profit per room increasing by 36.9% in the last 36 months, to 31.24 in the 12 months to May 2016 from 22.82 in the 12 months to June 2013.

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HotStats European Chain Hotels Market Review May 2016
Hotels in Dublin recorded a 26.2% year-on-year increase in profit per room in May driven by continued significant top line growth, according to the latest data from HotStats. On the back of record visitor numbers and spend as well as significant year-on-year GDP growth in 2015, the demand profile of Dublin continues to be positive in 2016, enabling hotels in the Irish capital to record particularly high room occupancy levels, averaging 84.9% in the 12 months to May 2016.

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May

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As Current Cycle Matures, Hotel RevPAR Growth Decelerates According to PwC US
Occupancy levels at US hotels have begun to stabilize after reaching peak levels in 2015, according to Hospitality Directions, the lodging forecast released today by PwC US. Coming off the heels of a lackluster performance for the US lodging sector in Q4 2015, average daily rate (\"ADR\") growth in the first quarter was the lowest since Q4 2013. While overall demand conditions in the US are expected to remain positive, driven, in part, by firming group travel, increasing supply growth is expected to contribute to stabilizing occupancy levels. Average daily rates are expected to continue to increase, but at a slower pace than previously expected, impacted, in part, by lower growth in the overall economy. The estimates from PwC are based on a quarterly econometric analysis of the lodging sector, using an updated forecast released by Oxford Economics in May and historical statistics supplied by STR and other data providers.

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M-Commerce, youth feed China's outbound travel boom - PhocusWright Report
Chinese travelers are relatively inexperienced with overseas trips, but thanks to decades of increasing prosperity, along with the recent easing of visa restrictions, they are making up for lost time. If recent adverse economic events have Mainland households protecting their savings, overseas travel does not seem to be the first budget item to be trimmed, according to a new report from travel industry research authority, Phocuswright. Chinese travelers spent US$205.7 billion, or 1.3 trillion, on outbound trips in 2015.

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April

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Overview of tourism and the hotel industry in Mauritius [Infographic]
Discover our infography about tourism and the hotel industry in Mauritius, an extract from our report \"Mauritius: the rising star of the Indian Ocean keeps shining\".

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Courchevel: reaching for the top [Infographic]
Courchevel, a ski resort of superlatives, made a place for itself in the ranks of global elite luxury destinations. Performances for the 2015/2016 season, trends and future developments: portrait of a hotel market that keeps reaching new peaks.

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March

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PwC report: Hospitality investment strategies in Greece
The new study of PwC Greece \"Hospitality Invetsment Strategies in Greece\" provides an in depth analysis of the hospitality industry and suggests three strategies for development. Greece is a significant global tourist destination and its direct contribution to the country's GDP exceeds 7%. The hospitality industry has been growing fast and systematically in the last three years, but it is not particularly internationally competitive, mainly due to price.

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February

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Whitebridge EMEA Hotels Monitor - Issue 17
Although the political landscape across the region was little changed in the last six months of 2015 in Europe, it remains to be seen what the impact of a new 'ultraconservative' government in Poland will be (which recently nationalised local media and elements of the financial sector). Multiple attacks in Paris on 13 November had major ripple effects across Europe, where even London saw disappointing results in December. The year ended with a spectacular blaze at The Address Downtown in Dubai, but fortunately the cause was poor wiring rather than anything more sinister.

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Travel and Hospitality Industry Outlook - Interview with Deloitte's Guy Langford
Fresh off the back of a robust and dynamic 2015, many travel and hospitality (T&H) companies are heading into 2016 with strong momentum for continued success. But this success is not a given: T&H organizations will need to proactively and effectively respond to a set of evolving challenges around customer and market expectations, data use and integration, recruitment and retention, competitive dynamics, and risk management. In the following interview, Guy Langford, vice chairman and US Travel, Hospitality & Leisure leader, Deloitte & Touche LLP, shares his thoughts on growth opportunities and industry trends T&H companies should be mindful of in 2016.

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The Zika Virus - An Evolving Risk to the Lodging Industry | By Brett Edgerton
The recent outbreak of the Zika virus in the Americas has raised global concerns about the health threats posed by the virus. On February 1, 2016, the WHO declared the microcephaly cases and other neurological disorders reported in Brazil as a result of Zika infections to be a public health emergency. Similarly, the Centers for Disease Control and Prevention (CDC) has urged pregnant women to postpone any travel to countries where the outbreak is occurring (see Figure 1 for countries currently at risk). Since mosquitoes are known to carry and spread the virus, Zika has the potential to spread to unaffected countries throughout the Americas, including the United States and parts of Canada. Florida, where the mild climate is ideal for mosquito-borne disease to spread, has declared a state of emergency in five counties where residents have contracted the virus abroad live. There have already been reports of airlines refunding tickets to travelers as tourists seek to avoid active transmission regions. The lodging industry is particularly exposed to the risks caused by short-term health and safety issues like Zika because the industry relies on daily demand rather than long-term leases that shelter other real estate classes from volatility. To gain insight into what effects, if any, the Zika outbreak may have on the hotel industry, we examine past disease outbreaks and industry performance.

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Seven Key Takeaways | The Americas Lodging Investment Summit 2016 (ALIS)
The annual Americas Lodging Investment Summit (ALIS) kicked off the year with insights into hotel transactions, performance, and lending trends. What do experts expect for the industry in 2016? A modest tempering of enthusiasm for development, performance, and the near future of the U.S. hotel industry was prevalent among delegates at the 2016 ALIS conference in Los Angeles, which traditionally sets the tone for the present year of lodging news and forecasts. Forecasts call for a continuing rise in hotel RevPAR and NOI; however, falling oil prices and the decline in REIT stock prices fed into a balance of cautious optimism at the conference. The rise of the U.S. dollar and its impact on foreign travel was at the forefront of many discussions; while gateway markets are being affected, secondary hotel markets are benefiting from the lower cost of gas. Mixed-use developments that integrate hotel components are on the rise. Tighter restrictions on CMBS loans are making large transactions more challenging. Financing for new hotel development remains available, but will likely undergo stricter underwriting. The following are some key takeaways from ALIS 2016. 

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January

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Meetings/Hospitality Industry Riding Crest of Upswing
After a stretch of rapidly rising room rates and increased meetings attendance following the recovery from the Great Recession of 2008, the sense of prosperity felt within the meetings and hospitality industry seems to have plateaued, with hotel room rates expected to rise at a reduced clip and attendance predicted to continue its gradual upward momentum.

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Three Million Rooms Highlights Banner 2015 | hotel-online.com
2015 was a banner year for the US lodging industry. Sector fundamentals have never been stronger, and at this juncture hotel property values have generally exceeded prior peak levels in most markets across the country. Mergers and acquisitions of individual hotels, portfolios, and corporate consolidations occurred at a blistering pace reaching a crescendo with the late year announcements of Marriott International's blockbuster acquisition of Starwood Hotels & Resorts Worldwide, Inc., Accor SA's purchase of FRHI Holdings Ltd which includes Fairmont, Raffles and Swissotel, and Hilton Worldwide Holdings' plan to separate its real estate assets into a publicly traded entity.

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Key West Priciest Destination in Florida, Survey Shows
Key West has just been revealed as the most expensive destination in Florida in which to stay the night. That's according to the latest survey from MiamiHotels.org, which compared 30 destinations in the state based on the cost of lodging.

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2015 results in US strongest on record: STR | hotelsmag.com
Compared with 2014, the U.S. hotel industry's 2015 occupancy was up 1.7% to 65.6%; its average daily rate rose 4.4% to US$120.01; and its revenue per available room increased 6.3% to US$78.67, according to STR Inc. The absolute values in the three key performance metrics were each the highest STR has ever benchmarked.

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Australia: Business confidence lifts despite tough conditions in hospitality sector | hospitalitymagazine.com.au
According to a recent quarterly report from marketing services company Sensis, business confidence in Australia has jumped to its highest level in almost five years, registering a net balance of +39. According to the Sensis Business Index (SBI) survey, more than three times as many small businesses are now confident (57 percent) as opposed to those that are worried (18 percent) about the current economic climate, representing a 12 point rise in confidence among SMEs in the December quarter.

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Positve Operating Leverage Results in Another Year of Hotel Value Gains; Cap Rates Start to Rise | By Suzanne Mellen
Five years of steady cap rates and rising NOI have resulted in significant U.S. hotel asset appreciation. The current economic landscape is likely to cause hotel cap rates to rise in 2016, moderating future value gains.

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PKF Global Economic Insights - January 2016
The performance of U.S. hotels has becoming increasing influenced by changes in the global economy. In this video, Richard Barkham, Chief Global Economist for CBRE, shares his views on the major regions of the world.

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In focus: Budapest, Hungary
This article presents an update on the hotel market in Budapest, discussing hotel demand and supply factors, along with recent performance and investment trends.

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Indian Hotel Industry Survey 2014-2015
The survey, representing 1,295 hotels in various cities across different star categories in India, presents key statistics for the industry. It provides information about financial performance, marketing media usage patterns, guest segmentation, etc.

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Knowledge Center Forecast: U.S. Business Travel to Grow at 'Stable and Steady' Rates in 2016, 2017 | successfulmeetings.com
Despite global economic uncertainty, business travel in the United States will grow at \"stable and steady\" rates over the next two years, according to the latest forecast from the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA).

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In Focus: Cyprus
This article discusses the Cyprus hotel market in terms of supply and demand and analyzes past tourism trends.

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The HVS Greater China Update - 4th Quarter 2015
Economic slowdown continued to affect tourism and hotel markets across Asia in the third quarter.

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Luxury Market Surges In Los Cabos | Travelmarketreport.com
Hoteliers are betting on Los Cabos' reputation as a top destination for luxury travelers, as they continue to bring upscale brands to the area. The good news: it seems to be paying off. The hot spot saw a 14.7% tourism increase in 2015 compared to 2014, welcoming more than 1.5 million tourists a year. Delta Vacations and Aeromexico Vacations bookings to the destination have seen healthy double-digit increases, said Delta Vacations senior vice president of marketing and product development Tina Iglio. Iglio predicts Los Cabos will represent a huge opportunity for travel agents in 2016.

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Hotelbeat London & Regional UK - January 2016
STR Global and Whitebridge Hospitality are pleased to present this updated analysis (first undertaken in 2011) which demonstrates the true state of the hotel sector in London and in Regional UK. The data is based on two constant samples of hotels (totalling more than 25,000 rooms), over an 15-year period (2000-2014), whose performance statistics have been re-based in constant 2014 values ('real terms'). Naureen Ahmed, Manager Marketing & Analysis, STR Global, comments: \"It is reassuring to see the turnaround in UK hotel markets. Demand growth over recent years has driven occupancy and Regional UK hotels have reflected the pick up in the domestic economy through improved performance levels. London has sustained higher levels of performance for many more years, including GOP margins around 50%, even during the recession years.\" Philip Camble, Director of Whitebridge, comments: \"It is encouraging to see Regional UK occupancy return to 'pre-Crunch' levels and GOP levelling off. However, ADR still has some way to go and an ADR-led recovery should result in further consolidation in GOP and, with a fair wind, lead to more solid growth in profits in years to come.

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HotStats UK Chain Hotels Market Review November 2015
Glasgow Hoteliers Missing Their MTV as Year-on-Year Profit Levels Plummet. Year-on-year profit levels at Glasgow hotels fell by 17.2% this month as the city's hoteliers lamented the absence of MTV European Music Awards-related demand which fuelled a 35.1% increase in RevPAR (Revenue per Available Room) this time last year, according to the latest data from HotStats.

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HotStats MENA Chain Hotels Market Review November 2015
Performance levels plunge for Dubai and Sharm El Sheikh hotels. Five and four star hotels in Dubai continued to experience weakening average room rates (ARR) in November, falling 6.9% to US$315.03, whilst occupancy levels remained strong, albeit marginally lower than the same period last year at 84.9%. The 8.1% decrease in revenue per available room (RevPAR) was compounded by significantly lower food and beverage revenues which fell 12.0%, driving total revenue per available room (TRevPAR) 10.9% lower, to US$449.80. Higher operating expenses compounded lower overall revenues, reducing gross operating profit per available room (GOPPAR) by 15.8% to US$214.83.

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HotStats European Chain Hotels Market Review November 2015
Paris Hotels Suffer Profit Drop in Wake of Terrorist Attacks. Year-on-year profit per room at full-service hotels in Paris dropped by 19.0% this month, as the terrorist attacks, which took place on 13 November, were the root cause of a substantial decline in demand for hotel accommodation, according to the latest data from HotStats.

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Development boom propels growth in Sunshine Coast markets
The Sunshine Coast is positioned to become Queensland's next investment hotspot, with the region's property market set to benefit from population growth, a diversifying economy and a swag of new developments. A new CBRE Viewpoint highlights favourable conditions for the Sunshine Coast's commercial property markets, with a number of key drivers aligning the region for a period of major growth.

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Horwath 2015 Poland Report
There are high hopes for Poland to become a leading tourism destination in the future. In 2015 the total number of tourists will amount to 28,49 million and over the next 15 years is expected to increase to 30,64 million annually. Additionally, Poland has a strong domestic tourism market that amounted to 17,2 million visitors in 2014.

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Hotel Market Data Index Shows Miami Region to Experience a 6.31% Increase in Hotel Room Supply in 2016
The total supply of hotel rooms in the Miami-Fort Lauderdale MSA region is expected to increase from 86,000 to 92,000 by January of 2017 as 40 hotels are projected to open over the next 12 months. The Miami growth comes out to a 6.31% increase in hotel room supply, a mark that outpaces the 3.71% projected national growth in 2016. According to the HMD Index, the supply of luxury rooms within the Miami region is expected to increase by 9.10%, and the supply of mid-range hotel rooms is expected to increase by 7.25% over the next 12 months. By January 2017, Hilton Worldwide (NYSE: HLT) will likely see the greatest increase in hotel room supply in the Miami region with 10.42% growth, while InterContinental Hotels Group (NYSE: IHG) is showing the second highest growth forecast at 6.79%. The HMD Index's real-time hotel supply and construction pipeline data is driven by Hotel Market Data's construction reports, profiles, and analytics. Visit www.hotelmarketdata.com/HotelIndex now to sign up for free email notifications for specific US markets, hotel scales, and hotel franchises.

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French Hotel Industry Performance - November 2015
Paris and the Ile de France region were dramatically hit by two terrorist attacks in 2015. The impact on hotel activity is evidently substantial and hotels in this area will finish the year on a lower note. November saw a fall in occupancy in Parisian hotels of all categories compared to the same period 2014. Although the impact appears to have been less strong in regional France, intermediary categories nonetheless recorded lower performances in November 2015, particularly on the Cote d'Azur. Our fears were unfortunately confirmed as Paris suffered a significant drop in occupancy further to November's attacks (a fall of 10,9% to 14,6% depending on the category). Stable average rates limited the drop in RevPAR, although rooms revenue was still affected. Paradoxically, Luxury hotels managed to stabilise or grow RevPAR (+3,3%), although this was an illusion, since November 2014 was not a particularly good month (aggravating the findings for other categories). The rest of the region fared better, and inferior categories (Budget and Super Budget) in certain departments even managed to increase RevPAR. The rest of France suffered to a lesser extent. The Upscale and Midscale categories were the only ones to record fairly significant drops in RevPAR in November 2015: -9,8% for regional Upscale hotels given the combined fall in occupancy and average rates and -9,5% for Midscale hotels on the Cote d'Azur given the significant drop in occupancy. All other categories recorded stable or better performances, confirming the more encouraging pattern recorded over the past few months. Even though we should remain cautious when comparing results against November 2014, year-end performances show a marked increase, with December not likely to reverse the trend. For Super-budget hotels, the months go on and resemble each other. Maintaining a +1,5% increase in average rates since the start of the year has not been sufficient to offset declining occupancy: RevPAR is down

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2015

December

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Hotel Market Data Shows Supply of Hotel Rooms within the US Market Expected to Increase by 3.71% in 2016
Over the next 12 months, the supply of hotel rooms within the US market is forecasted to grow 3.71%. Over 1,100 hotels are being constructed within the next year, resulting in approximately 150,000 new rooms becoming available within the US market in 2016.

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Trivago Hotel Price Index North Africa Trend Hospitality - December 2015
This month the hotel rates of major cities and regions of the North African countries show little change. If Morocco and Egypt see their hotel rates increase by 4% and 2% compared to last month, accuses Tunisia for its 6% decrease including - 11% in Hammamet and Nabeul in the region.

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