Research Reports - Trends and Research - HSMAI
Hospitality Sales and Marketing Association International
Hospitality Sales and Marketing Association International
 
Hospitality Sales and Marketing Association International
research reports

2019

July

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STR: U.S. hotel performance for Q2 2019
The U.S. hotel industry reported mostly positive results in the three key performance metrics during Q2 2019, according to data from STR. In a year-over-year comparison with Q2 2018, the industry posted the following:

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STR: Preliminary June data for Melbourne hotels
STR's preliminary June 2019 data for hotels in Melbourne, Australia, indicates strong supply affecting performance levels. Based on daily data from the month, Melbourne reported the following in year-over-year comparisons:

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STR: Preliminary June data for Abu Dhabi hotels
STR's preliminary June 2019 data for Abu Dhabi, United Emirates, indicates high performance due to double-digit demand growth.Based on daily data from June, Abu Dhabi reported the following in year-over-year comparisons:

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STR: Preliminary June data for London hotels
STR's preliminary June 2019 data for London indicates strong performance levels.Based on daily data from the month, London reported the following in year-over-year comparisons:

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STR: U.S. hotel results for week ending 6 July
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 30 June through 6 July 2019, according to data from STR. In comparison with the week of 1-7 July 2018, the industry recorded the following:

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How the UEFA Champions League Final Impacted Madrid Hotel Profits | By David Eisen
Hosting a premier sporting event isn't just a mark of statureit can be a boon for the city's hotel industry. From the Super Bowl and the World Series in the U.S., to the World Rugby Sevens Series held in a variety of locations, from the UAE and South Africa, to New Zealand and Hong Kong, sporting events are a facilitator of traveler demand.

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Europe Hotel Transactions Bulletin - Week Ending 05 July 2019
Covivio acquires AXA's stake in 32-hotel Accor portfolio in France and Belgium

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Brussels Hotel Market Recovery Now Complete | By Sophie Perret and Lionel Schauder
Brussels, with a population of approximately 1.2 million, enjoys a strategic location in the heart of Western Europe, making it both a regional metropolis and an international hub. In addition to its role as capital of Belgium, the city is home to NATO's headquarters and is widely known as the 'capital of Europe', hosting both the European Parliament and the European Commission. Described as the 'new Berlin' by the New York Times in 2015, an eclectic and creative facet of Brussels has recently emerged, represented by its community of artists, architects and designers.

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June

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GOPPAR Bounces Back, But Cost Concerns Remain at U.S. Hotels
After a negative turn in April, profit per room at U.S. hotels bounced back in May, increasing by 2.0% year-over-year, buoyed by growth across all revenue centers, according to the latest data from HotStats.

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STR: US Hotel Results For Week Ending 22 June
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 16-22 June 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 22 June
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 16-22 June 2019, according to data from STR.

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STR: Central/South America Hotel Data For May 2019
Hotels in the Central/South America region reported mostly negative performance results during May 2019, according to data from STR.

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STR: Middle East/Africa Hotel Performance For May 2019
The Middle/East hotel industry reported an 8.6% occupancy decline to 52% in May, and despite an 8.9% ADR increase to $164.87, RevPAR dipped 0.4% to $85.75. African hotel occupancy decreased 5.6% to 51.2%, ADR dipped 0.4% to $99.30 and RevPAR declined 5.9% to $50.82.

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STR: Europe hotel performance for May 2019
Europe's hotel industry reported positive results in the three key performance metrics during May 2019, according to data from STR.Euro constant currency, May 2019 vs. May 2018Europe

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STR: US Hotel Performance For May 2019
The U.S. hotel industry reported positive results in the three key performance metrics during May 2019, according to data from STR.

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Europe Hotel Transactions Bulletin - Week Ending 21 June 2019
Pandox buys three Dorint Hotels in Germany from HR Group

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HVS Asia Pacific Hospitality Newsletter - Week Ending 21 June 2019
Maldives Announces Tourism Campaign with Three-Fold Increase in Budget

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STR: U.S. hotel performance for May 2019
The U.S. hotel industry reported positive results in the three key performance metrics during May 2019, according to data from STR. In a year-over-year comparison with May 2018, the industry posted the following:

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STR: U.S. hotel results for week ending 15 June
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 9-15 June 2019, according to data from STR. In comparison with the week of 10-16 June 2018, the industry recorded the following:

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Asia Pacific (APAC) Travel Market: Big and getting bigger
Asia Pacific (APAC) is the world's largest regional travel market. With rapid infrastructure development across airports, seaports, railroads, hotels and highways, and disposable incomes on the rise, travel opportunity continues to expand regionwide. Aggregated total gross bookings for the 13 markets covered in Phocuswright's recent travel research report, Asia Pacific Online Travel Overview 2019, reached US$418.1 billion* in 2018, up 7% year over year. Burgeoning domestic travel demand, especially in China, India, Indonesia and Malaysia, supported this growth, placing the region well ahead of both the U.S. and Europe.

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STR: US Hotel Results For Week Ending 8 June
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 2-8 June 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 8 June
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 2-8 June 2019, according to data from STR.

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STR: Preliminary May data for London hotels
STR's preliminary May 2019 data for London indicates higher room rates.

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STR: Preliminary May data for Sydney hotels
STR's preliminary May 2019 data for hotels in Sydney indicates performance consistent with supply outpacing demand.Based on daily data from the month, Sydney reported the following in year-over-year comparisons:

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STR: Preliminary May data for Jeddah hotels
STR's preliminary May 2019 data for Jeddah, Saudi Arabia, indicates low performance consistent with the time of Ramadan.

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Baird/STR Hotel Stock Index drops 4.9% in May
The Baird/STR Hotel Stock Index dropped 4.9% in May to 4,645. Year to date through the first five months of 2019, the index was up 14.1%.

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HotStats Releases U.S. Annual Hotel Performance Tracker 2019
HotStats, the global leader in monthly profitability data benchmarking for the hotel industry, has released findings of U.S. hotel performance for 2018, in its \"Profit Matters: U.S. Annual Report Performance Tracker.\"

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What Is TRevPAR (Definition and Why It Matters)? | By David Eisen
In a previous blog post, I took aim at RevPAR. My pursuit: to puncture the long-held notion that it's the most exemplary data point to consult within the hospitality industry. And, according to one comment, I succeeded in doing so (thank you, Don Weintraub, you made my mother very proud).

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STR: Canada Hotel Results For Week Ending 1 June
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 26 May through 1 June 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 1 June
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 May through 1 June 2019, according to data from STR.

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STR, TE downgrade U.S. hotel forecast
The U.S. hotel industry is projected to see overall performance growth of 2.0% for 2019 and 1.9% for 2020, according to STR and Tourism Economics' latest forecast just released at the 41st Annual NYU International Hospitality Industry Investment Conference. The growth figure for 2019 is lower than the 2.3% increase projected in February of this year.

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May

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STR: US Hotel Results For Week Ending 25 May
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 19-25 May 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 25 May
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 19-25 May 2019, according to data from STR.

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April Occupancy Surge Can't Stop MENA GOPPAR Drop
Occupancy levels at hotels in the Middle East & North Africa surged to 78.2 percent in April, but it was not enough to prevent profit levels falling for an eighth consecutive month, according to the latest data tracking full-service hotels from HotStats.

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Europe GOPPAR Suffers in April on TRevPAR Skid
Profit per room at hotels in mainland Europe fell for a fifth consecutive month in April, as revenue levels continued to weaken across all departments, according to the latest data tracking full-service hotels from HotStats.GOPPAR fell 8.4 percent year-over-year.

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U.S. GOPPAR Slips for First Time in 2019
It was a good run, but it couldn't last. April was the first month of the year to see a year-over-year decline in profit per room at hotels in the U.S., as a drop across all revenue centers was impacted by rising costs, according to the latest data tracking full-service hotels from HotStats.GOPPAR fell by 3.7 percent YOY to $118.51. Still, YTD profit per room is positive at 1.6 percent YOY.

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STR: Three companies exceed 500k rooms in North America
Three hotel company portfolios exceed 500,000 rooms in North America, according to census data from STR. As part of the STR 500, the company will release a combined list of more than 100 of the continent's largest companies and brands during next week's NYU International Hospitality Industry Investment Conference in New York City.

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PwC 2019 Q1 Manhattan Lodging Index
Revenue per available room (RevPAR) fell to the lowest first quarter average since 2011, as average daily room rate (ADR) declined across all Manhattan submarkets. During the quarter, increases in lodging supply, which continued to outpace growth in demand, resulted in the largest year-overyear decline in occupancy since 2009. Despite more positive expectations coming into the New Year, the quarter ended on a weak finish with March RevPAR down 11.1 percent.

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Gradual Slowdown in U.S. Hotel Performance to Continue
The U.S. lodging supply will increase at an annual pace greater than the long-run average through 2022, according to CBRE Hotels Research's latest report.

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Canada's Hotel Construction Pipeline Remains Strong With Double Digit Increases Year-Over-Year
Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2019, the total construction pipeline in Canada remains strong with 264 projects/33,023 rooms. Construction pipeline projects and rooms are both up an impressive 11% year-over-year (YOY).

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Decreases in GOPPAR, RevPAR Underscore Tough April for UK Hotels
Hotels in the UK suffered their largest margin of year-on-year profit decline since late 2016, as ancillary revenues fell and costs soared in April, according to the latest data tracking full-service hotels from HotStats.

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STR: Asia/Pacific Hotel Performance For April 2019
SINGAPORE Hotels in the Asia Pacific region reported mostly negative results across the three key performance metrics during April 2019, according to data from STR.

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STR: Central/South America hotel performance for April 2019
Hotels in the Central/South America region reported negative performance results during April 2019, according to data from STR.U.S. dollar constant currency, April 2019 vs. April 2018Central/South America

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STR: Europe Hotel Performance For April 2019
Europe's hotel industry reported mostly positive results in the three key performance metrics during April 2019, according to data from STR.

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STR: April 2019 Middle East/Africa Hotel Performance
Hotels in the Middle East reported mixed April 2019 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.

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STR: Canada Hotel Results For Week Ending 18 May
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 12-18 May 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 18 May
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 12-18 May 2019, according to data from STR.

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Canadian Lodging Outlook Quarterly 2019-Q1
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.

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STR: US Hotel Performance For April 2019
The U.S. hotel industry reported positive results in the three key performance metrics during April 2019, according to data from STR.

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Whitebridge Latin America & Caribbean Hotels Monitor - May 2019
After a tempestuous 2017, the Caribbean was virtually untouched by natural disasters and cyclones in 2018. Under such balmy and sun-filled skies, this sub-region has prospered (with 15 of 24 destinations recording growth in arrivals, according to CTO) and many islands recorded positive RevPAR growth. Within the LatAm sub-region, performance trends were far more mixed, with many destinations suffering from supply growth issues and negative currency fluctuations (note all RevPAR results in this Monitor are shown in USD). Some upward pressure on development costs in the Caribbean is likely to be more than matched by increases in future performance levels, as a US-led recovery across the sub-region continues. Perhaps as a consequence of such a bright forecast, the Caribbean pipeline continues to look strong and many hotels have been refurbished.

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STR: US Hotel Profits Hit All-time High
Results from STR's 2019 HOST Almanac show that U.S. hotel industrywide house profit reached a record-breaking $80 billion in 2018 even as labor costs grew at a higher rate than revenues.

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STR: Canada Hotel Results For Week Ending 11 May
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 5-11 May 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 11 May
The U.S. hotel industry reported mostly positive year-over-year results in the three key performance metrics during the week of 5-11 May 2019, according to data from STR.

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The Family That Plans Together, Plays Together: 83% of Travelers Plan Trips Together as a Family
Family vacation planning is no longer an activity just for the adults, according to new custom research from Expedia Group Media Solutions, the advertising organization of Expedia Group. For more than 8 in 10 travelers around the world, planning a family trip is a collaborative activity for the entire family, including the youngest members of the household: Generation Alpha. Representing those born after 2010, Gen Alpha may be young, but they have ideas and opinions and are already influencing family decisions - including travel. More than half of parents and grandparents said Gen Alpha show them online and TV content to influence family trip planning.

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STR: Canada Hotel Construction Down 8.7% In April
STR's pipeline data for Canada showed 63 hotel projects accounting for 8,011 rooms in construction as of April 2019. This represents an 8.7% year-over-year decrease in the number of rooms in the final phase of the development pipeline.

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STR: Asia/Pacific Hotel Construction Up 23.3% In April
STR's pipeline data for the Asia Pacific region showed 1,892 hotel projects accounting for 423,343 rooms in construction as of April 2019. This represented a 23.3% year-over-year increase in the number of rooms in the final phase of the development pipeline.

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STR: Central/South America Hotel Construction Down 5.3%
STR's pipeline data for the Central/South America region showed 168 hotel projects accounting for 23,324 rooms in construction as of April 2019. This represented a 5.3% year-over-year decline in the number of rooms in the final phase of the development pipeline.

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STR: Caribbean/Mexico Hotel Construction Up 30.7%
STR's pipeline data for the Caribbean/Mexico region showed 131 hotel projects accounting for 29,187 rooms in construction as of April 2019. This represented a 30.7% year-over-year jump in the number of rooms in the final phase of the development pipeline.

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STR: US Hotel Construction Up 10% In April
HENDERSONVILLE  STR's pipeline data for the U.S. showed 1,575 hotel projects accounting for 203,890 rooms in construction as of April 2019. This represented a 9.9% year-over-year increase in the number of rooms in the final phase of the development pipeline.

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STR: Europe hotel construction up 48.6% in April
STR's pipeline data for Europe showed 1,454 hotel projects accounting for 187,198 rooms in construction as of April 2019. This represented a 48.6% year-over-year increase in the number of rooms in the final phase of the development pipeline. A majority of the region's rooms in construction are in three segments. Of those three, unaffiliated projects represented the largest percentage increase (+119.9%) in activity year over year. 1. Unaffiliated: 57,274 rooms (+119.9%)2. Upscale: 40,477 rooms (+34.0%)3. Upper Midscale: 31,127 rooms (+16.1%)Five countries reported more than 7,000 rooms under construction. Germany led with 49,901 rooms, which represented 7.6% of the country's existing supply, followed by the United Kingdom (42,278 rooms, 6.3% of existing supply). 1. Germany: 49,901 rooms (7.6%)2. United Kingdom: 42,278 rooms (6.3%)3. Spain: 12,158 rooms (2.0%)4. France: 8,715 rooms (1.6%)5. Turkey: 7,246 rooms (2.5%)

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STR: Middle East up, Africa down in hotel construction
STR's April 2019 pipeline data showed 424 hotel projects accounting for 125,052 rooms in construction in the Middle East and 141 projects and 25,056 rooms in construction in Africa. The Middle East total represented a 9.3% year-over-year increase in the number of rooms in the final phase of the development pipeline. The Middle East reported an additional 30,203 rooms in the final planning stage and 45,991 rooms in planning. The Africa total room construction total was down 7.1% year over year. Africa also showed 13,854 rooms in final planning and 26,534 rooms in planning.Between the Middle East and Africa, four countries showed more than 4,000 rooms under construction. United Arab Emirates led with 56,701 rooms, which represented 33.6% of the country's existing supply, followed by Saudi Arabia (42,571 rooms, 42.9% of existing supply). 1. United Arab Emirates: 56,701 rooms (33.6%)2. Saudi Arabia: 42,571 rooms (42.9%)3. Qatar: 13,086 rooms (47.8%)4. Oman: 4,129 rooms (21.7%)

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STR: Preliminary April data for Melbourne hotels
STR's preliminary April 2019 data for hotels in Melbourne indicates lower performance. Based on daily data from the month, Melbourne reported the following in year-over-year comparisons:

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STR: Preliminary April data for Abu Dhabi hotels
STR's preliminary April 2019 data for Abu Dhabi, United Arab Emirates, indicates high demand and occupancy levels. Based on daily data from April, Abu Dhabi reported the following in year-over-year comparisons:

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STR: Preliminary April data for London hotels
STR's preliminary April 2019 data for London indicates high room rates.Based on daily data from the month, London reported the following in year-over-year comparisons:

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Travel Trends Index: International Inbound Travel Tumbles While Domestic Leisure Travel Remains Strong
Travel to and within the U.S. grew 2.0% year-over-year in March, according to the U.S. Travel Association's latest Travel Trends Index (TTI)marking the industry's 111th straight month of overall expansion.

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STR: Canada Hotel Results For Week Ending 4 May
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 28 April through 4 May 2019, according to data from STR.

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STR: U.S. Hotel Results For Week Ending 4 May
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 28 April through 4 May 2019, according to data from STR.

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Baird/STR Hotel Stock Index jumps 5.3% in April
The Baird/STR Hotel Stock Index grew 5.3% in April to 4,886. Year to date through the first four months of 2019, the index was up 20.1%.

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Horwath HTL Industry Report: Bali Hotels & Branded Residences
Despite travel warnings most notably in China, Mount Agung's continued explosive activities and Lombok's earthquakes, Bali weathered the storm in 2018 although with slower growth after two years of double-digit growth in international arrivals.Within the next 5 years, Bali is expected to add approximately 7,000 rooms, with about 80% of the rooms being 3 and 4-star, in line with the greater mass-market dynamic.The hotel residence market remains flattened. With over 4,000 hotel branded residence units on the market for sale, developers have been pushed to offer a higher owner's revenue share and the choice of high guaranteed return.

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Egypt Heads The Africa Hotel Development Top Ten
The stars of hotel development in Africa are Egypt, Nigeria, Morocco and Ethiopia, according to the 11thannual survey by W Hospitality Group, acknowledged as the industry's most authoritative source. The four countries head the top ten by numbers of rooms in the internationally-branded hotel development pipeline, with Egypt showing 15,158 rooms in 51 new hotels. A total of 75,155 branded rooms in 401 hotels are in development across the whole of Africa - a net increase (ignoring recent openings and taking in to account deals that have not come to fruition) of almost 11,000 rooms in the pipeline, 17% up on 2018. W Hospitality Group's Hotel Chain Development Pipelines in Africa survey had a record 43 international and regional hotel contributors this year, covering 54 countries in north and sub-Saharan Africa, and the Indian Ocean islands. The top-line figures show that in North Africa the rooms pipeline is up 2.3% on 2018, and down 3.8% in sub-Saharan Africa - largely due to several of the chains \"cleaning\" their pipelines, deleting deals that they believe are not going to happen. These cleaning adjustments amount to more than 12,000 rooms in 74 hotels. Nevertheless, despite this significant adjustment, there has been growth of 51% in the total pipeline rooms since 2015 - North Africa up by 58%, and sub-Saharan Africa up by 47%. This year, the top ten countries account for 69% of the total hotels in the survey, and 74% of the rooms. Full details will be revealed and discussed at the Africa Hotel Investment Forum (AHIF) in Addis Ababa, September 23 - 25 2019, organised by Bench Events. It is the leading conference of its kind in Africa, connecting business leaders and fuelling investment in tourism projects, infrastructure and hotel development across the continent.The country rankings in full

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New Study: Travel Jobs Outpace Manufacturing, Health Care in Opportunity and Future Wages
Travel industry jobs lead to higher wages and a permanent foothold for financial success, outpacing compensation in both manufacturing and health care, according to the U.S. Travel Association's Made in America: Travel's Contribution to Workforce Development.

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Are Boutique Hotels Becoming Mainstream?
Lifestyle branded hotels are becoming more mainstream and increasingly accounting for a larger share of the hotel universe, with several big hotel operators launching or purchasing their own boutique hotel brands over the past five years.

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GBR Hospitality Newsletter 2019 Q1
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 socio-economic developments.

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April

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STR: Mexico Q1 2019 Hotel Performance
Mexico's hotel industry reported negative performance results during Q1 2019, according to data from STR.

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U.S. Hotels Enjoy Profit Growth, But It Is Becoming Harder To Achieve
While U.S. hoteliers enjoyed a ninth consecutive year of increasing profits in 2018, it is becoming increasingly difficult for managers to accomplish this task. According to the recently released 2019 edition of Trends in the Hotel Industry by CBRE Hotels Americas Research, total operating revenue increased by 2.6 percent in 2018 for the average hotel in its survey sample. Managers were able to limit the growth in operating expenses to 2.8 percent, thus allowing for a 2.3 percent increase in gross operating profits (GOP) at the Trends properties. The 2.8 percent growth in expenses is less than the long-run average of 4.0 percent over the past 40 years. However, it is greater than the 1.8 percent average annual growth rate achieved the past two years.

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STR: Canada Q1 2019 hotel performance
The Canadian hotel industry reported mostly positive year-over-year results in the three key performance metrics during Q1 2019, according to data from STR. Compared with Q1 2018:

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STR: US Hotel Results For Week Ending 20 April
The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 14-20 April 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 20 April
The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 14-20 April 2019, according to data from STR.

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STR: Central/South America Q1 2019 Hotel Performance
LONDON Hotels in the Central/South America region reported mixed performance results during Q1 2019, according to data from STR.

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How Online Hotel Distribution Is Changing In Europe
The hotel distribution landscape is often touted as a duopoly held by Booking and Expedia, but we see it slightly differently. While they do command a sizeable part of the market share, there are actually other channels that hoteliers are leveraging successfully. After hundreds of hours analyzing the last five years of hotel distribution across a selection of our client base, we have produced a report to shed some light on how distribution has evolved and, hopefully, give some inspiration to hoteliers to optimizing it.

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STR: Europe hotel performance for Q1 2019
Europe's hotel industry reported mostly positive results in the three key performance metrics during Q1 2019, according to data from STR.Euro constant currency, Q1 2019 vs. Q1 2018Europe

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STR: Asia Pacific hotel performance for Q1 2019
Hotels in the Asia Pacific region reported negative results across the three key performance metrics during Q1 2019, according to data from STR.U.S. dollar constant currency, Q1 2019 vs. Q1 2018Asia Pacific

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STR: Middle East and Africa hotel performance for Q1 2019
Hotels in the Middle East reported mixed Q1 2019 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, Q1 2019 vs. Q1 2018Middle East

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Horwath HTL Industry Report: Hau Hin Top-Tier Hotels
Hua Hin's top-tier hotel market is slowly coming out of stagnancy. Past years were disrupted by a sequence of negative incidents from a military coup, a zero-dollar tour crackdown and the passing of the late King on the back of several hotel openings. The market performance recovery in the foreseeable future will be supported by improved business and tourism sentiment, coupled with moderate supply pipeline. However, uncertainty looms over a long-term vision of the Thai Riviera and potential resurgence of new hotel developments and alternative accommodation.

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Horwath HTL Industry Report: Poland Hotel Market
Poland is not only gradually reducing the distance to the richest EU countries but is now in the elite group of the 25 most developed economies in the world. Ranked 36th in the world, in the level of globalization, measuring 169 countries using the Global Connectedness Index, Poland has increasing ADR and occupancy of hotels in major cities, which in turn is encouraging investors to open new hotels.

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STR: US Hotel Performance For March 2019
The U.S. hotel industry reported mostly flat results in the three key performance metrics during March 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 13 April
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 7-13 April 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 13 April
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 7-13 April 2019, according to data from STR.

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STR: Preliminary March Data For Jeddah Hotels
STR's preliminary March 2019 data for Jeddah, Saudi Arabia, indicates a drop in room rates during low occupancy season.

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STR: Preliminary March Data For London Hotels
STR's preliminary March 2019 data for London indicates strong performance.Based on daily data from the month, London reported the following in year-over-year comparisons:

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STR: Preliminary March Data For Sydney Hotels
STR's preliminary March 2019 data for hotels in Sydney indicates lower performance. Based on daily data from March, Sydney reported the following in year-over-year comparisons:

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STR: US Hotel Results For Week Ending 6 April
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 31 March through 6 April 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 6 April
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 31 March through 6 April 2019, according to data from STR.

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Hotel Valuation Index Middle East 2019
The Hotel Valuation Index is a hotel valuation benchmark developed by HVS. It monitors annual percentage changes inthe values of typical four-star and five-star hotels. The HVI combines the various factors affecting the economy and region at large with hotel-market specific demand and supply dynamics to derive indicative values and future growth trends. For this first edition of the HVI Middle East, we have analyzed 14 key hotel markets in the Middle East with a total inventory of approximately 175,000 rooms in the four-star and five-star market. Additionally, our index allows us to rank each market relative to the Middle East average as well as Asia and Europe averages.

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Horwath HTL Industry Report: Melbourne, Australia
Over the last 10 years the Melbourne hotel market has recorded solid performance levels with occupancy consistently in the 80s and with ADR recording moderate increases year-on-year. The market has a reputation of having been able to overcome supply growth in the past through its strong year-round events calendar and it is with this in mind the industry is confident that the current burst of hotel supply additions will be able to be successfully absorbed without causing any major stress to the market.

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HVS Anarock India Hospitality Industry Review 2018
After a long hiatus Indiawide ADRs in 2018 grew at 6.25%, resulting in a RevPAR growth of 9.6%. We anticipate RevPARs in 2019 to grow by 9.5% on the back of growth primarily in ADR.

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STR: US Hotel Results For Week Ending 30 March
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 24-30 March 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 30 March
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 24-30 March 2019, according to data from STR.

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Small RevPAR Gain No Match for Rise in Costs
It's been tough sledding for hotels in the Middle East & North Africa. February marked the sixth consecutive month of year-over-year profit decline, in spite of a slight rise in RevPAR, according to the latest data tracking full-service hotels from HotStats.

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Baird/STR Hotel Stock Index Down 0.9% In March
The Baird/STR Hotel Stock Index dipped 0.9% in March to 4,642. Year to date through the first three months of 2019, the index was up 14.1%.

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The Ultimate Indian Travel & Hospitality Report 2019
The Indian hospitality industry is at an important juncture. The industry upcycle, increased inbound and domestic travel, introduction and use of new technology, favourable government initiatives, more evolved owners, a larger number of domestic and international operators, new-age hotel chains, and overall, a more forward-looking approach of various industry stakeholders together make the present times very exciting.

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Hotels.com Hotel Price Index Finds Passion For Travel Is Still On The Rise
There's no sign of a slowdown for the global travel industry, according to the latest Hotel Price Index (HPI) from Hotels.com. The prices travelers paid for overnight accommodation rose 3 percent globally in 2018, with every regional index, except the Pacific, receiving a boost.

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STR: Positive Outlook For Hanoi Hotel Industry
Rapid growth in international tourist arrivals to Vietnam has contributed to a positive short- to mid-term outlook for the Hanoi hotel industry, according to data and analysis from STR.

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March

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Top-Line Growth Fails to Deliver Profit
The UK hotel industry is off to a rough 2019. At least on the profitability spectrum. A slight increase in RevPAR in February was not enough to push hotels into the black, as the UK suffered a second consecutive month of profit decline, according to the latest data tracking full-service hotels from HotStats.

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STR: US Hotel Results For Week Ending 23 March
The U.S. hotel industry reported nearly flat year-over-year results in the three key performance metrics during the week of 17-23 March 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 23 March
The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 17-23 March 2019, according to data from STR.

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PwC Hotels Forecast update: Spike in new rooms to check growth
The outlook for hotel trading in the UK this year remains flat as a surge in room supply, slowing global and UK economic growth and ongoing uncertainty relating to Brexit is expected to provide a challenging environment for performance growth.

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Horwath HTL Industry Report: Turkey
Turkey is one of the leading tourism destinations in the world. It is where antiquity meets contemporary and it boasts stunning scenery as well as having a rich historical legacy. Despite the political and economical crises in the past few years, in 2018 Turkey attracted more than a record number of 46 million tourists with its breath taking coastlines, iconic destinations and mouth watering Turkish cuisine. This report, written by Alp Ancel of Horwath HTL Turkey, discusses how Turkey looks set to regain its position on the world tourism stage.

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STR: Central/South America Hotel Performance For February 2019
Hotels in the Central/South America region reported mixed performance results in February 2019, according to data from STR.

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UK Hotels Forecast Update For 2019 And 2020
We've had a hugely successful year in 2018, but I think things will become more commercially challenging over the next couple of years. As we all know, the biggest challenge is going to be attracting and retaining talented people to be part of our team.

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STR: Unfavorable Outlook For Kuala Lumpur Hotel Industry
Early 2019 performance levels and profitability fundamentals produce an unfavorable short- to mid-term outlook for Kuala Lumpur's hotel industry, according to data and analysis from STR.

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STR: Middle East And Africa Hotel Performance For February 2019
Hotels in the Middle East reported mixed February 2019 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.

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Video: CBRE's Mark Woodworth Discusses Expected U.S. Lodging Outlook
According to the March 2019 edition ofHotel Horizons, CBRE Hotels Americas Research is forecasting U.S. hotel RevPAR to increase by 2.5% in 2019, due in large part to a favorable economic outlook through 2020. However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals.

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Horwath HTL Industry Report: Baku, Azerbaijan
Gergely Blint, of Horwath HTL Hungary has written the latest market report on Baku, the capital city of Azerbaijan. Baku has more than its nine climate zones' and oil industry to boast about at the moment. Hotel development is booming as the market begins to appreciate the economic upside offered by tourism. Diversification of hotel products to attract more leisure travellers to the country, extends the booking period and minimises the reliance on corporate travel.

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Horwath HTL Industry Report: Singapore Hotel Market Review March 2019
Singapore's tourism industry performed significantly better in 2018, with visitor arrivals exceeding earlier forecasts and its hotels reversing a persistent downward trend. Visitor arrivals hit a record 18.5 million, driving occupancy levels (86 percent) that helped raise RevPAR to SGD189. As the market enters a period of compression and supply growth remains slow, how will the market respond to the changed dynamics? Benjamin Oh from Horwath HTL Singapore provides the lowdown.

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STR: Asia Pacific Hotel Performance For February 2019
Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during February 2019, according to data from STR.

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STR: Europe Hotel Performance For February 2019
Europe's hotel industry reported positive results in the three key performance metrics during February 2019, according to data from STR.

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STR: U.S. Hotel Results For Week Ending 16 March
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 10-16 March 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 16 March
The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 10-16 March 2019, according to data from STR.

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Canadian Lodging Outlook Quarterly 2018-Q4
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.

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STR: U.S. Hotel Performance For February 2019
The U.S. hotel industry reported positive results in the three key performance metrics during February 2019, according to data from STR.

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D.C. Hotel Industry A Casualty Of Federal Government Shutdown
Like death and taxes, one thing is certain: a federal government shutdown is no good for hotels in the nation's capital, Washington, D.C.

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New Research Shows South Africa As Africa's Largest Travel & Tourism Economy In 2018
Travel & Tourism in South Africa contributed 1.5 million jobs and ZAR425.8 billion to the economy in 2018, making it the largest tourism economy in Africa, according to the World Travel & Tourism Council's (WTTC) annual review of the economic impact and social importance of the sector released today.

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HVS Market Pulse: Detroit, MI | By Brandon Leversee
Detroit's image of a proper rust-belt city in the depths of despair during the Great Recession and the subsequent filing of bankruptcy in 2013 has been reshaped into an inspiring story of resilience and resurgence. Detroit's economy is strong, with unemployment decreasing every year since 2014 and an employment base that continues to diversify. While the economic mainstaysGeneral Motors, Ford, and Fiat Chryslerstill thrive in the city, other major employers belong to the financial and healthcare sectors; moreover, the technology sector continues to grow.

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Knowledge Center New Hotel Trend Survey Reveals Major Advancements Across The Industry
The American Hotel & Lodging Association (AHLA) today released the results of a comprehensive Lodging Survey, a detailed assessment of advancements in amenities, guest services, sustainability and technology, in addition to other industry trends. This recent survey underscores how hotels advance, accommodate and innovate the guest experience. Consumers can expect seamless transitions between their everyday lives and their lives on the road thanks to increased mobile compatibility, flexible dining options and welcoming accommodations.

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China's Hotel Construction Pipeline Hits New All-Time High Despite Growing Concerns About the Economic Slowdown
Analysts at Lodging Econometrics (LE) report that China's total construction pipeline is booming and stands at 2,761 projects/580,635 rooms, up 12% by projects and 6% by rooms year-over-year (YOY). At the end of 2018, both projects and rooms in the construction pipeline are at new all-time highs surpassing the previous cyclical high of 2,658 projects set in the fourth quarter of 2014. China has the second largest pipeline in the world.

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CBRE Research Forecasts Healthy RevPar Growth for U.S. Hotels in 2019 and 2020
Continued favorable economic fundamentals are expected to lead to U.S. hotel rooms revenue per available room (RevPAR) growth of 2.5 percent in 2019 and 2.0 percent in 2020, according to the latest forecast from CBRE Hotels Americas Research.

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STR: Canada Hotel Results For Week Ending 9 March
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 3-9 March 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 9 March
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 3-9 March 2019, according to data from STR.

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STR: Preliminary February Data For Melbourne Hotels
STR's preliminary February 2019 data for hotels in Melbourne indicates a significant occupancy level. Based on daily data from February, Melbourne reported the following in year-over-year comparisons:

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STR: Preliminary February Data For Abu Dhabi Hotels
STR's preliminary February 2019 data for Abu Dhabi, United Arab Emirates, indicates lower occupancy but significantly higher room rates. Based on daily data from February, Abu Dhabi reported the following in year-over-year comparisons:

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STR: Preliminary February Data For London Hotels
STR's preliminary February 2019 data for London indicates record-high rates. Based on daily data from the month, London reported the following in year-over-year comparisons:

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Baird/STR Hotel Stock Index rises 6.8% in February
The Baird/STR Hotel Stock Index rose 6.8% in February to 4,684. Year to date through the first two months of 2019, the index was up 15.1%.

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Middle East & North Africa Hotels Challenged By Supply, Economic Concerns
Hotel profit plummeted in the Middle East & North Africa in January, as oversupply and struggling oil prices took a toll, sending GOPPAR to a 13.9-percent year-on-year decrease, according to the latest data tracking full-service hotels from HotStats.

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Challenging Start To 2019 For Hotels In Mainland Europe
Profit per room at hotels in mainland Europe fell by 9.1 percent year-over-year in Januarythe largest margin of decline in this measure since August 2016as revenues dropped and costs escalated, according to the latest data tracking full-service hotels from HotStats.

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STR: US Hotel Results For Week Ending 2 March
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 24 February through 2 March 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 2 March
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 24 February through 2 March 2019, according to data from STR.

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STR: Survey On Brexit Travel Impact
Brexit has had little impact on 2019 travel plans but has shaped a negative perception of the U.K. among European travellers, according to findings of a recent survey conducted by STR's Consumer Travel Insights team. Conducted in February 2019, the survey captured the views of 927 U.K. and international travellers from STR's proprietary Traveller Panel, a global community of engaged travellers.

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Global Construction Pipeline Hits Record High at 2018 Year-End
Lodging Econometrics (LE) has released its year-end Global Construction Pipeline Trend Report, which compiles the construction pipeline counts for every country and market around the world. At the close of 2018, LE analysts state that the total global construction pipeline hit record highs with 13,573 projects/2,265,792 rooms, a 7% increase in projects and a 6% increase in rooms year-over-year (YOY).

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New Year, Similar Profit Story For U.S. Hotels
Not even a government shutdown could throw the U.S. hotel industry off-kilter. Hotels picked up essentially where they left off in 2018, demonstrating a sustained uptrend in profit growth.

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STR: Canada Hotel Results For Week Ending 23 February
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 17-23 February 2019, according to data from STR.

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GDS Booking and ADR Growth Drive Strong Q4 2018 RevPAR Performance in Hospitality
TravelClick, an Amadeus company, today announced that global distribution system (GDS) hotel bookings experienced a record year in 2018, generating over 75 million annual reservations globally, up from 70 million in 2017. The company noted that this global GDS growth coupled with sustained increases in average daily rates (ADR), contributed to impressive revenue per available room (RevPAR) for North American hoteliers as they kicked off the New Year.

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Edinburgh remains UK's number one destination for hotel development
Edinburgh remains at the top of Colliers International's latest UK Hotels Market Index, with a strong active pipeline and performance, largely due to consistently strong occupancy and average daily room rate (ADR) levels in 2018, a robust four-year upward revenue per available room (RevPAR) trend and continued strong market appetite.

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PwC Manhattan Lodging Index Q4 2018
Revenue per available room (\"RevPAR\") reached the highest fourth quarter average since 2006, as growth in average daily room rate (\"ADR\") rebounded at Manhattan hotels. During the quarter, lodging supply, which continued to outpace growth in demand, resulted in declines in occupancy. With strong commercial traveler demand during the first half of the quarter, coupled with price-elastic holiday tourism in the latter half, Manhattan room rates finished the quarter at an average of $328 per night.

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European Pipeline Soars Despite Economic Slowdown Throughout the Region
In the 2018 year-end report by Lodging Econometrics (LE), Europe's total construction pipeline skyrocketed to 1,569 projects/243,947 rooms, a whopping 19% increase year-over-year (YOY), and the highest project and room counts ever recorded. The record counts come despite concerns of slower growth throughout the region, shrinking demand for the region's exports, Brexit uncertainties, and political tensions in many countries.

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STR: U.S. hotel results for week ending 23 February
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 17-23 February 2019, according to data from STR. In comparison with the week of 18-24 February 2018, the industry recorded the following:

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HVS Market Pulse: Minneapolis - After the Super Bowl | By Tanya Pierson & Justin Westad
Surrounded by the beauty of lakes and the Mississippi River, Minneapolis is home to many Fortune 500 companies and more than 11,000 hotel rooms. High quality of life, diversity of employers, and leisure attractions continue to entice demand and an ensuing level of hotel development to the area.

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February

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UK Profit Disappoints Even As RevPAR Levels Stay Strong
Despite a 3.4-percent year-over-year increase in RevPAR in January, profit per room at UK hotels dropped by 2.6 percent due to rising costs, according to data tracking full-service hotels from HotStats.

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Personalization, Mobile Technology, and Networking Drive Attendee Engagement at Events, According to New Cvent and Edelman Intelligence Report
With nearly 70 percent1 of marketing leaders stating that events play a significant role in accelerating sales, meetings and events continue to be key business drivers for organizations around the world. According to a new report by Cvent and Edelman Intelligence, event professionals can deliver more impactful and profitable events through enhanced technology, tailored communication, and networking opportunities.

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STR: Europe hotel performance for January 2019
Europe's hotel industry reported mostly positive results in the three key performance metrics during January 2019, according to data from STR.Euro constant currency, January 2019 vs. January 2018Europe

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STR: Middle East and Africa hotel performance for January 2019
Hotels in the Middle East reported negative January 2019 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, January 2019 vs. January 2018Middle East

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STR: Asia Pacific hotel performance for January 2019
Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during January 2019, according to data from STR.U.S. dollar constant currency, January 2019 vs. January 2018Asia Pacific

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STR Central/South America Hotel Performance For January 2019
Key January takeaways: Buenos Aires experiences highest January occupancy since 2012, Pope's World Youth Day lifts room rates in Panama City, So Paulo posts 18 consecutive months of ADR growth.

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U.S. Lodging Outlook Good Through 2020, Economic Blip Causes Slowdown In 2021 Before Returning to Positive Growth for 2020
A favorable economic outlook will lead to continued growth in U.S. hotel revenues and profits through 2020. However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals that year. According to the March 2019 edition of Hotel Horizons, CBRE Hotels Americas Research is forecasting U.S. hotel rooms revenue per available room (RevPAR) to increase by 2.5 percent in 2019 and an additional 2.0 percent in 2020. However, for 2021, CBRE is projecting a slight decline in RevPAR of 0.6 percent. Fortunately for hoteliers, that immediately is followed by 1.4 percent RevPAR growth for 2022.

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STR: 2018 Was Top Hotel Transaction Year This Cycle
A total of 707 property sales totaling $29.5 billion made 2018 the most active year for hotel transactions since 2007, according to the Hotel Transaction Almanac produced by STR's Consulting & Analytics office and Hotel Brokers International (HBI). Total number of transactions grew 25% from 2017, while sales volume was up 49% from the previous year. \"We're near the peak of the cycle right now where there is opportunity for very large profits,\" said Joseph Rael, STR's senior director of consulting & analytics.

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Whitebridge EMEA Hotels Monitor, Issue 23
Whitebridge Hospitality is a specialist advisor to investors, developers and operators in the hospitality industry around the globe. We provide investment, operational and planning advice, and guidance in respect of the entire hospitality spectrum, including: hotels, mixed-use resorts, leisure facilities, casinos, visitor attractions and sporting venues. Our uniquely qualified team can provide services throughout an asset's life cycle.

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STR: Canada Hotel Results For Week Ending 16 February
The Canadian hotel industry recorded mostly positive year-over-year results in the three key performance metrics during the week of 10-16 February 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 16 February
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 10-16 February 2019, according to data from STR.

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India Hotel Survey Reveals Key Findings Regarding Performance Opportunities, Profitability
India's hotels are heavily dependent on food and beverage (F&B) as a revenue generator, and have a significant opportunity to boost foreign and leisure demand, according to findings from the 21st edition of the Federation of Hotel & Restaurant Associations of India (FHRAI) Survey report.

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STR: US Hotel Performance For January 2019
The U.S. hotel industry reported positive results in the three key performance metrics during January 2019, according to data from STR.

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STR: Super Bowl Impact Exceeds Expectations For Atlanta Hotels
Atlanta hotel performance growth exceeded projections during Super Bowl LIII weekend, but ranked below the average of the previous eight host markets, according to an analysis by STR's Consulting & Analytics office.During the nights of Friday, 1 February, through Sunday, 3 February, the Atlanta market posted 387.2% growth in revenue per available room (RevPAR), which was driven predominantly by a 246.5% increase in average daily rate (ADR). Occupancy in the market rose 40.4%. \"RevPAR growth came in a bit higher than our forecast of 350%, but the impact was still a bit lower than previous Super Bowl hosts because of Atlanta's significant market size,\" said Carter Wilson, STR senior VP of consulting & analytics. \"The primary factor in measuring the Super Bowl lift is market size, followed by seasonality. Markets with more rooms to fill are more limited in their RevPAR gains, while smaller markets tend to demonstrate greater pricing power. Considering the size of the market, the 387% jump in RevPAR is actually quite remarkable.\"

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Lisbon Hotel Market Europe's Miracle Baby Maturing
Lisbon Hotel Market - Europe's Miracle Baby Maturing. This market pulse provides an overview of the tourism and hotel market in Lisbon, Portugal. It discusses the growing tourism trends in the market, the impacts on hotel performance, the challenges encountered in light of the airport capacity, and the resurgence of other competing markets such as North Africa. This article also provides a summary of the hotel pipeline as the city is becoming increasingly attractive to investors.

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HVS Asia Pacific Hospitality Newsletter - Week Ending 15 February 2019
IHG Acquires Six Senses for US$300 Million

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Gold Coast Shines As Australia's Top Hotel Market For 2018
Brisbane - The Gold Coast continues to ride a wave of growth following the 2018 Commonwealth Games, with the coastal city emerging as Australia's best performing hotel market over the past 12 months.

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STR: Canada Hotel Results For Week Ending 9 February
The Canadian hotel industry recorded mostly positive year-over-year results in the three key performance metrics during the week of 3-9 February 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 9 February
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 3-9 February 2019, according to data from STR.

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STR: Hotel F&B Performance Up Again In 2018
U.S. hotel food-and-beverage revenue per occupied room (F&B RevPOR) increased 2.7% in 2018, according to total-year data from STR. F&B RevPOR reached US$112.67, up from US$109.73 in 2017 and US$106.92 in 2016. This growth reflected increases across all hotel classes with contributions from both food and beverage revenue sources.

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CTO Caribbean Tourism Performance Report 2018 & Outlook for 2019
Overview: With a strong performance during the last four months of 2018, including a robust showing by countries impacted by the 2017 hurricanes, the evidence suggests that Caribbean tourism is on the upswing.

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STR's Caribbean/Mexico Hotel Supply Development Update
The Caribbean/Mexico room construction total represented a 16.5% increase compared with January 2018.

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STR's Central/South America Hotel Supply Development Update
The Central/South America room construction total represented a 25.6% decrease compared with January 2018.

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Slowing U.S. Hotel Growth Could be Worst in 10 Years
Growth in the booming U.S. hotel industry is cooling off, data tracker STR forecasts, setting the stage for the lodging industry's worst stretch since 2009. 

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STR's Asia Pacific Hotel Supply Development Update
The Asia Pacific room construction total represented a 31.4% increase compared with January 2018.

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Middle East/Africa Hotel Supply Development Update
The Middle East reported a 21% year-over-year increase in the number of rooms in construction (127,115) through January, according to STR pipeline data. Africa, meanwhile, reported a 4.2% increase in rooms in construction (27,124).

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U.S. Hotel Supply Development Update
The U.S. hotel industry reported a 4.5% increase in rooms in construction compared with January 2018.

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Supply Growth in Top 25 U.S. Markets to Accelerate
Analysts at Lodging Econometrics (LE) report that in 2018, new supply growth was 2.0%, the first time it has reached 2.0% in eight years. The top 25 markets had new supply growth of 2.7% while the remainder of the country showed growth at 1.7%.

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Horwath HTL Industry Report: India Hotel Market Review 2018
The India Hotel Market Review 2018 is a collaboration between Horwath HTL and STR. In this report, we examine Occupancy, Average Daily Rate and Revenue Per Available Room for several key markets. We have concentrated upon all-India numbers and 13 key markets, which carry 67% of total chain-owned/managed/affiliated inventory.

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Horwath HTL Industry Report: Asia pacific chains report 2019
Horwath HTL are delighted to announce the launch of the 2018 Asia Pacific Hotel Chains & Hotels Report. 11 key markets in Asia Pacific are highlighted, examining the relationship between branded hotels and their independent counterparts. Who has the most successful brands? Who is growing the fastest? Which market has the least amount of hotels connected to a brand? Who has the most? All of these questions and many more are answered in this comprehensive industry report, now available for free from the Horwath HTL website. Enjoy!

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STR: Preliminary January Data For Dubai Hotels
STR's preliminary January 2019 data for Dubai, United Arab Emirates, indicates performance affected by a continued influx of new room inventory. Based on daily data from January, Dubai reported the following in year-over-year comparisons:

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STR: Preliminary January Data For Sydney Hotels
STR's preliminary January 2019 data for hotels in Sydney indicates lower occupancy and room rates influenced by supply growth. Based on daily data from January, Sydney reported the following in year-over-year comparisons:

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STR: Preliminary January Data For London Hotels
STR's preliminary January 2019 data for London indicates record performance levels. Based on daily data from the month, London reported the following in year-over-year comparisons:

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Baird/STR Hotel Stock Index up 7.8% in January
The Baird/STR Hotel Stock Index opened the year with a 7.8% increase and finished January at a level of 4,388. \"Hotel stocks snapped back with the broader stock market in January after a challenging fourth quarter last year,\" said Michael Bellisario, senior hotel research analyst and VP at Baird. \"The hotel REITs and the hotel brands jumped 12.4% and 5.5%, respectively, in January, but both sub-indices are still well off their recent highs. Stocks ended last year in an oversold position with investor sentiment too negative, in our opinion, and all eyes are now focused on 2019 guidance and how all of the recent capital markets volatility and the government shutdown are impacting hotel demand.\"

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STR: US Hotel Results For Week Ending 2 February
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 27 January through 2 February 2019, according to data from STR.

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STR: Canada Hotel Results For Week Ending 2 February
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 27 January through 2 February 2019, according to data from STR.

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Double-Digit Profit Dip In December Punctuates Down Year For Middle East & North Africa Hotels
Profit per room at hotels in the Middle East & North Africa fell by 10.6 percent year-over-year in December and contributed to a 6.0-percent decline for full-year 2018, as revenues declined and costs spiraled, according to the latest data tracking full-service hotels from HotStats.

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GBR Hospitality Newsletter 2018 Q4
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 socio-economic developments.

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January

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Final Flourish Secures Annual Profit Growth for UK Hotels
A strong finish to 2018 secured a second consecutive year of GOPPAR growth for UK's hotels, as they sidestepped challenging economic and political conditions, according to the latest data tracking full-service hotels from HotStats.

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STR Releases Consumer Travel Insights Report On OTAs, Rental Platforms
STR's Consumer Travel Insights 2019 report series revealed several key findings regarding traveller motivations and budgeting, emphasis on online-travel-agency (OTA) services, and use of rental platforms such as Airbnb and HomeAway. The five-report series, compiled by STR's Tourism Consumer Insights team, examined each stage of the traveller journeyplanning, booking, budgeting and how technology and travel brands interact with travelling.

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U.S. Hotels Secure A Third Consecutive Year Of Profit Growth
Good news: U.S. hotels continue to make money. Year-over-year GOPPAR growth of 1.5 percent in December contributed to a 3.4-percent annual increase in profit for hotels in the U.S., according to data from HotStats tracking full-service hotels. It was the third consecutive year of GOPPAR growth, following YOY increases of 3.7 percent in 2016 and 3.0 percent in 2017.

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Supply Increase Impacts Occupancy in UK's Provincial Hotels
The fortunes of London's hotels compared with those in the provinces widened in Q4 2018 as occupancy in London rose by 5% year-on-year compared with a more modest 1% increase in hotels outside the capital.

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STR, TE downgrade U.S. hotel forecast for 2019 and 2020
The U.S. hotel industry is projected to report a further slowdown in performance growth in 2019 and 2020, according to STR and Tourism Economics' latest forecast just released at the Americas Lodging Investment Summit. \"Late in 2018, RevPAR growth weakened as strong demand was offset by lower-than-expected ADR growth,\" said Amanda Hite, STR's president and CEO. \"Now demand is softening, and although supply growth is stabilized, we expect our first year without an increase in occupancy since 2009. Combine more pressure on occupancy levels with already subdued pricing confidence, concerns over labor costs, a cooling economic environment, and the negative sentiment brought on by the recent government shutdown, and you have a recipe for diminished RevPAR growth. Performance growth of any rate will still take the industry to another record-breaking level nationally, but plenty of individual markets and hotels are feeling the slowdown on their bottom line.\"

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PwC Hospitality Directions US - Updated Lodging Outlook
Fourth quarter lodging fundamentals came in just below expectations, with year-over-year RevPAR growth of 2.4 percent, driven by an average daily rate increase of 2.0 percent. Despite expectations otherwise, occupancy levels increased marginally (0.4 percent), surprising many with continued growth at this stage in the lodging cycle. Growth in occupancy levels was supported by strong demand increases in the contract segment, while transient and group demand declined modestly on a year-over-year basis. Despite concerns over the impact from the trade tensions with China and rising construction/labor costs, the US lodging industry ended 2018 on solid footing, with occupancy reaching levels not seen since 1981.0

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STR: Mexico 2018 hotel performance
Mexico's hotel industry reported mixed performance results during 2018, according to data from STR. Compared with 2017:

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STR: Caribbean 2018 hotel performance
The Caribbean hotel industry reported lower occupancy, but record-breaking average daily rate (ADR) during 2018, according to data from STR. Compared with 2017:

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STR: Canada 2018 Hotel Performance
The Canadian hotel industry reported positive year-over-year results in the three key performance metrics during 2018, according to data from STR. Compared with 2017:

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STR: Asia Pacific 2018 Hotel Performance
Key 2018 takeaways: Singapore sees highest occupancy level since 2012, Ho Chi Minh City reports higher room rates, but lower occupancy due to supply growth, Thailand growth driven by higher room rates as demand softens.

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STR: Canada Hotel Results For Week Ending 19 January
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 13-19 January 2019, according to data from STR.

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STR: US Hotel Results For Week Ending 19 January
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 13-19 January 2019, according to data from STR.

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Vietnam Hospitality Market: 2018 Overview and 2019 Outlook
2018 has been an excellent year for Vietnam Real Estate market with positive signs coming from all sectors, among which hospitality stands out as one of the main sectors drawing enormous attention from international and local developers and investors. The market has exhibited many projects that are being planned, developed, and opened with the presence of new brands and products. Demand also experienced a remarkable growth of 21% in international tourist arrivals (within 11 months of 2018 compared to the same period in 2017), which is slightly lower than that of last year but still considered impressive when compared to other destinations in the region. In addition to its strong growth in the last two years, Vietnam has grown tremendously within the last decade as the average growth rate of international arrivals to Vietnam amounted to three times the global CAGR (Compound Annual Growth Rate) and two times the Asia Pacific CAGR.

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STR: Middle East and Africa 2018 hotel performance
Hotels in the Middle East reported negative 2018 performance results, while hotels in Africa posted total-year growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, 2018 vs. 2017Middle East

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STR: Europe 2018 hotel performance
Europe's hotel industry reported positive results in the three key performance metrics during 2018, according to data from STR.Euro constant currency, 2018 vs. 2017Europe

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STR: U.S. hotel performance for December 2018
The U.S. hotel industry reported positive results in the three key performance metrics during December 2018, according to data from STR. In a year-over-year comparison with December 2017, the industry posted the following:

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STR: U.S. hotel industry posts another record year in 2018
The U.S. hotel industry registered record-breaking performance during 2018, according to data from STR. Compared with 2017:

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STR: U.S. hotel results for week ending 12 January
The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 6-12 January 2019, according to data from STR. In comparison with the week of 7-13 January 2018, the industry recorded the following:

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Profit Decline Continues In Middle East & North Africa Hotels
Profit levels at hotels in the Middle East & North Africa remained under pressure in November, as revenues were hit by declines in both price and volume in the normally reliable commercial segment, according to the latest data tracking full-service hotels from HotStats.

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STR: Preliminary December data for London hotels
STR's preliminary December 2018 data for London, England, indicates higher performance levels. Based on daily data from the month, London reported the following in year-over-year comparisons:

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STR: Preliminary December data for Dubai hotels
STR's preliminary December 2018 data for Dubai, United Arab Emirates, indicates performance consistent with significant growth in both supply and demand. Based on daily data from December, Dubai reported the following in year-over-year comparisons:

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STR: Preliminary December data for Sydney hotels
STR's preliminary December 2018 data for hotels in Sydney, Australia, indicates performance declines. Based on daily data from December, Sydney reported the following in year-over-year comparisons:

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U.S. Hotels Experienced Another Strong Year In 2018, But What's On The Horizon?
CBRE's Mark Woodworth and Jack Corgel wrap up 2018 with their take on the overall health of the economy, what indicators may tell us about the possibility of a recession on the horizon, and what period to period demand change says about overall economic performance.

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STR: U.S. hotel results for week ending 22 December
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 16-22 December 2018, according to data from STR. In comparison with the week of 17-23 December 2017, the industry recorded the following:

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China's Hotel Construction Pipeline Remains Strong Despite A Slowing Economy
In the recent report by Lodging Econometrics (LE), in the third quarter of 2018, China's total construction pipeline stands at 2,642 projects/569,690 rooms and is up 9% by projects and 6% by rooms year-over-year (YOY). Rooms in the construction pipeline are at an all-time high, and the pipeline is a mere 16 projects shy of the cyclical high of 2,658 projects set in the fourth quarter of 2014.

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2018

December

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STR: Central/South America hotel performance for November 2018
Hotels in the Central/South America region reported positive performance results during November 2018, according to data from STR.U.S. dollar constant currency, November 2018 vs. November 2017Central/South America

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STR: Europe hotel performance for November 2018
Europe's hotel industry reported positive results in the three key performance metrics during November 2018, according to data from STR.Euro constant currency, November 2018 vs. November 2017Europe

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2019 United States Hotel Industry Outlook | By Rodney Clough
We live in interesting times. Each day, we cannot be sure which way the stock market will swing, with its volatile nature and seemingly knee-jerk reactions to the trade and policy headline of the day. If the stock market serves as a leading indicator of times to come, the economy in 2019 is likely to slow in comparison to the one to which we've become accustomed. Despite this trajectory, other factors still signal that the hotel industry isn't likely falling off a cliff anytime soon.

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STR: U.S. hotel results for week ending 15 December
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 9-15 December 2018, according to data from STR. In comparison with the week of 10-16 December 2017, the industry recorded the following:

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STR: Asia Pacific hotel performance for November 2018
Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during November 2018, according to data from STR.U.S. dollar constant currency, November 2018 vs. November 2017Asia Pacific

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STR: Middle East and Africa hotel performance for November 2018
Hotels in the Middle East reported mixed November 2018 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, November 2018 vs. November 2017Middle East

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STR: Munich hotel supply to grow 15% by 2020
Munich's hotel inventory is expected to grow by 39 new properties and 7,397 rooms by 2020a 15.4% increase to the market's existing supplyaccording to STR's AM:PM database.Munich's hotel room inventory has increased 11.3% since the end of 2015. Currently, the Munich market comprises 463 hotels and 47,880 rooms, making it the third-largest hotel market in Germany. Berlin and Frankfurt rank first and second with 73,211 rooms and 48,507 rooms, respectively. Christian Strieder, STR's Country Manager for Germany, Austria and Switzerland, notes that Munich's performance has shifted in recent years amid significant supply growth. Occupancy declined in both 2016 (-3.4%) and 2017 (-0.4%), and was down 0.6% through the first 10 months of 2018. However, while average daily rate (ADR) fell 4.0% in 2017, the metric was up 4.0% for that October 2018 year-to-date time period. Demand (room nights sold) was up 4.2% as well. \"Event and conference business tends to play a key role in Munich's hotel business,\" Strieder said. \"We often see a fluctuation in hotel demand from events, while regular corporate demand usually remains steady. Markets that rely heavily on event business can experience sharp seasonal fluctuations in year-over-year performance levels. Large conferences will shift locations, and those that remain in the same city are usually not held annually. As Munich's hotel inventory expands, and the market continues to accommodate large events, it may take time for performance to stabilize during non-peak periods.\"

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STR: U.S. hotel performance for November 2018
The U.S. hotel industry reported positive results in the three key performance metrics during November 2018, according to data from STR. In a year-over-year comparison with November 2017, the industry posted the following:

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U.S. Hotels Forecast to Enjoy Tenth Consecutive Year of Growth - CBRE Reports
CBRE Hotels Americas Research is forecasting record occupancy in 2019 amid solid economic growth. Mark Woodworth, Senior Managing Director with CBRE Hotels, discussed our updated December 2018 edition of Hotel Horizons.

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PwC Manhattan Lodging Index Q3 2018
Growth in average daily room rate (\"ADR\") began to slow from the first half of 2018, minimizing gains in revenue per available room (\"RevPAR\") for Manhattan hotels. During the third quarter, minimal increases in lodging supply exceeded growth in demand, with occupancy posting declines year-over-year. As pricing power diminished over the summer months for the Manhattan lodging market, RevPAR remained relatively flat over prior year levels, increasing 0.2 percent.

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HVS Asia Pacific Hospitality Newsletter - Week Ending 30 November 2018
Ascendas Hospitality Trust Acquires Ibis Ambassador Seoul for 77.5 Billion Won

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November

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STR: U.S. hotel results for week ending 24 November
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 18-24 November 2018, according to data from STR. In comparison with the week of 19-25 November 2017, the industry recorded the following:

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STR: Israel hotel performance booming thanks to higher rates
Israels hotel industry is on pace for a record-breaking year with average daily rate (ADR) as the main driver of performance, according to data from STR.Through the first 10 months of 2018, Israel posted an ADR of ILS806.28, which was a 7.8% increase when compared with the same 10 months in 2017. Additionally, that absolute ADR level was the highest for any October year-to-date time period in STRs Israel database. Solid growth in demand that began in 2016 has given hoteliers in the country the confidence to push room rateseven as the presence of the sharing economy continues to broaden, said Thomas Emanuel, STRs director of business development. Occupancy comparisons have been fairly flat thus far in 2018, but ADR increases continue to drive positive year-over-year developments in RevPAR. Over the past two years, both occupancy and ADR have been maintained at roughly 10% above the previous performance peak in the country. All of this points to a healthy marketplace overall. Israels occupancy was 70.1% through October (-0.4% year over year), while revenue per available room (RevPAR) was ILS565.26 (+7.4% year over year). The absolute occupancy level was the second-highest for the October year-to-date time period, while the RevPAR level was the highest.

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Economic Outlook Solid for 2019: U.S. Hotels Forecast to Enjoy Tenth Consecutive Year of Growth According to Hotel Horizons Dec. 2018 Edition
Based on an upward revised outlook for the U.S. economy, CBRE Hotels Americas Research is forecasting the nations hotels will enjoy a 10th consecutive year of growth in 2019. According to the December 2018 edition of Hotel Horizons, U.S. hotel occupancy will rise to 66.2 percent next year, a fifth straight record level. The growth in occupancy is primarily the result of a projected 2.1 percent increase in demand, more than enough to offset an estimated net increase in supply of 1.9 percent for the year.

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Horwath HTL Industry Report: Koh Samui Top-tier Hotels
The emergence of Koh Samui as an alternative playground for well-heeled beach vacationers has led to the recent blossoming of five star and luxury resorts. New wealth has shifted east towards China and so does a surge of outbound getaway travellers. An upmarket position of Bangkok Airways and its control over the charming resort-like Samui International Airport present a good contrast to mass market orientation of Asian beach destinations like Phuket and Bali, and match well with a boutique concept and design of sprawling high-end resorts on the tropical paradise island. This latest report by Horwath HTL Thailand provides great insight into trends and outlook of Koh Samuis top-tier hotel market.

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STR: Asia Pacific hotel performance for October 2018
Hotels in the Asia Pacific region posted positive results across the three key performance metrics during October 2018, according to data from STR.U.S. dollar constant currency, October 2018 vs. October 2017Asia Pacific

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STR: Middle East and Africa hotel performance for October 2018
Hotels in the Middle East reported October 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, October 2018 vs. October 2017Middle East

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STR: Europe hotel performance for October 2018
Europe's hotel industry reported positive results in the three key performance metrics during October 2018, according to data from STR.Euro constant currency, October 2018 vs. October 2017Europe

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STR: U.S. hotel performance for October 2018
The U.S. hotel industry reported positive results in the three key performance metrics during October 2018, according to data from STR. In a year-over-year comparison with October 2017, the industry posted the following:

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STR: U.S. hotel results for week ending 10 November
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 4-10 November 2018, according to data from STR. In comparison with the week of 5-11 November 2017, the industry recorded the following:

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PwC Hospitality Directions US - Updated Lodging Outlook
PwC's quarterly Hospitality Directions Report is a near-term outlook for the U.S. lodging sector, commonly used by industry decision-makers and stakeholders to better understand the impact of policy and other macro-environmental factors on the sector's operating performance. Our outlook includes metrics for the overall sector as well as for the chain scales.Here is a quick summary of its findings:

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Europe hotel supply development update - STR
In October, Germany reclaimed the top spot for rooms in construction, ahead of the U.K.

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Market Snapshot: Asia Pacific 2018 | By Hok Yean Chee
Transaction activity has been observed to be on a downward trend from 2013 until 2017, owing to the transactions of Dalian Wanda China portfolio to R&F Properties. Since then, the frequency of transactions have been high, with 228 recorded transactions from 4Q2017 to 3Q2018, slightly lower than the 251 recorded the previous four quarters.

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STR: Preliminary October data for Sydney hotels
STR's preliminary October 2018 data for hotels in Sydney, Australia, indicates an occupancy-driven performance decline.

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STR: Preliminary October data for Dubai hotels
STR's preliminary October 2018 data for Dubai, United Arab Emirates, indicates performance levels affected by continued supply growth.

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STR: Preliminary October data for London hotels
STR's preliminary October 2018 data for London, England, indicates significant performance levels and growth.

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HotStats U.S. September Market Review: Stronger Business Travel Leads to Profit-Per-Room Bounce
A bump in corporate travel at the end of the third quarter proved enough to boost GOPPAR and serve as a harbinger of continued strength in the hotel industry as it moves into the fourth quarter. Profit per room at hotels in the U.S. in September was more than $20 above the GOPPAR recorded in August, according to the latest data tracking full-service hotels from HotStats.

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October

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Lower Revenues, Higher Costs Lead to Profit Dips at Middle East & North Africa Hotels
September signalled yet another month of year-on-year profit decline for hotels in the region as the growth recorded in August's positive month of performance was wiped away. At $37.82 for the month, GOPPAR was only just above the annual low of $35.80 recorded in June.

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STR: Middle East and Africa hotel performance for September 2018
Hotels in the Middle East reported September 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, September 2018 vs. September 2017Middle East

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STR: Asia Pacific hotel performance for September 2018
Hotels in the Asia Pacific region posted mixed results across the three key performance metrics during September 2018, according to data from STR.U.S. dollar constant currency, September 2018 vs. September 2017Asia Pacific

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STR: Europe hotel performance for September 2018
Europe's hotel industry reported mixed results in the three key performance metrics during September 2018, according to data from STR.Euro constant currency, September 2018 vs. September 2017Europe

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U.S. Lodging Performance Fell Short Of Budget In 2017 | By Robert Mandelbaum
In 2017, the actual achieved levels of occupancy, average daily rate (ADR), total revenue and profits for U.S. hotels were less than their respective budgeted amounts. After a five-year period (2011 through 2015) of extremely accurate budget projections, this marks the second consecutive year that owners and operators failed to meet their operating goals.

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GCC Hotel Development Cost Trends
Analyzing historical trends, the key reason behind escalating costs per key continues to be low in efficiency and utilization of space. Price per sqm of total built up area remains largely the same and therefore it is crucial that any design optimizes the turnover per sqm of built areas. HVS provides an indicative reasonable range of BUA per asset type.

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GCC Countrywide Hotel Performance Indicators
GCC countries have supported and grown inbound tourism in the last 15-20 years. The GCC region continues to drive growth and investment opportunities and HVS remain confident that accommodated room night demand will grow despite the aggressive development pipeline.

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International Tourism Maintains Strong Momentum - UNWTO reports
According to the World Tourism Organization (UNWTO)'s latest barometer, international tourist arrivals grew 6% in the first six months of 2018 after a record year of growth in 2017.

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Baird/STR Hotel Stock Index up 1.5% in September
The Baird/STR Hotel Stock Index rose 1.5% in September at 4,944. Year to date through the first nine months of 2018, the stock index was up 1.1%. \"The hotel brands and hotel REITs both reversed their recent relative underperformance and outpaced their respective benchmarks in September,\" said Michael Bellisario, senior hotel research analyst and VP at Baird. \"Investor expectations are now better aligned following second-quarter earnings, and the focus has begun to shift to 2019 outlooks. Also, recent positive economic data points suggest continued modest RevPAR growth, and rising interest rates provided a relative tailwind for the hotel REIT stocks during the month.\"\"It was nice to see investor sentiment more aligned with the recent run of record-breaking monthly demand,\" said Amanda Hite, STR's president and CEO. \"The industry's streak of RevPAR growth was tested by hurricane-affected comparisons in September, but our forecast calls for continued performance growth through 2019.\"The Baird/STR Hotel Stock Index outperformed the S&P 500 (+0.4%) and the MSCI US REIT Index (-3.2%). The Hotel Brand sub-index increased 3.4% from August to 7,294, while the Hotel REIT sub-index fell 1.9% to 1,773.

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STR: North Carolina sees 65 hotel closings, performance lift following Hurricane Florence
Among Hurricane Florence-affected states, North Carolina reported the greatest impact on hotel property status and performance, according to an analysis from STR's Consulting & Analytics team. As of 3 October, 65 hotels accounting for 4,422 rooms in North Carolina were confirmed to be closed due to storm-related damage. According to Dominik Kozissnik, STR's global census director, roughly half of the closed properties already have planned re-opening dates, most of which will be later this month or in November. South Carolina, on the other hand, reported three closings that totaled 323 rooms.

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STR: U.S. hotel results for week ending 29 September
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 23-29 September 2018, according to data from STR. In comparison with the week of 24-30 September 2017, the industry recorded the following:

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Hotel investment strategies in Sub-Saharan Africa evolve, as hotel trading gradually improves - JLL Reports
High supply growth during the past five years has placed pressure on hotel performance in Sub-Saharan Africa, yet the outlook in the medium term is positive, with a more sustainable pipeline and stronger demand fundamentals. This is one of the interesting facts presented by Xander Nijnens, Executive Vice-President, Hotels & Hospitality Group, JLL Sub-Saharan Africa, at the forum attended by leading local and international hotel investors in Africa. Nijnens says that investors in the hotel sector in Sub-Saharan Africa are positive about the outlook for the sector, yet they also acknowledge that finding suitably yielding opportunities is more difficult today. Investors are increasingly looking at niche segments, new secondary markets and value-add acquisitions to reach their return targets.

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Hotel Industry Q4 2018 and Beyond | By Robert Rauch
Many of us who attended The Lodging Conference this past month heard Bernard Baumohl, Chief Economist for the Conference Board, provide his economic forecast. He covered topics in his usual fast, effective and entertaining style. Some interesting takeaways were that business spending is not up much, oil is going to see oversupply and is up markedly due to politics (not the market), and GDP will be up 3 percent this year, 2.2 percent next year and 1.4 percent in 2020, according to the Consensus Forecast.

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September

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STR: U.S. hotel results for week ending 22 September
The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 16-22 September 2018, according to data from STR. In comparison with the week of 17-23 September 2017, the industry recorded the following:

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August 2018: Summer Sunshine Warms Profits at UK Hotels
Hotels in the UK recorded a 9.2 percent year-on-year increase in profit per room in August, as warm temperatures lured lodging demand from domestic and international leisure sources, according to the latest data tracking full-service hotels from HotStats.

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Belgium hotel market recovers from terror attacks
The hotel market in Belgium has recovered from the downturn following the terrorist attacks in Brussels in 2016. This is shown in the annual HOSTA report from hotel consultant Horwath HTL. The hotel occupancies, which dropped considerably in 2016, are back at the level from before the attacks. The average room rates are also showing an increase.

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STR: Central/South America hotel performance for August 2018
Hotels in the Central/South America region reported positive performance results during August 2018, according to data from STR.U.S. dollar constant currency, August 2018 vs. August 2017Central/South America

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STR: Asia Pacific hotel performance for August 2018
Hotels in the Asia Pacific region posted positive results across the three key performance metrics during August 2018, according to data from STR.U.S. dollar constant currency, August 2018 vs. August 2017Asia Pacific

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STR: Middle East and Africa hotel performance for August 2018
Hotels in both the Middle East and Africa posted growth across the three key performance metrics in August 2018, according to data from STR.U.S. dollar constant currency, August 2018 vs. August 2017Middle East

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STR: Europe hotel performance for August 2018
Europe's hotel industry reported positive results in the three key performance metrics during August 2018, according to data from STR.Euro constant currency, August 2018 vs. August 2017Europe

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U.S. hotel results for week ending 15 September
The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 9-15 September 2018, according to data from STR. In comparison with the week of 10-16 September 2017, the industry recorded the following:

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PwC UK hotels forecast 2019
Our UK hotels forecast 2019 has launched today. We anticipate slower growth due to: Softer economic growth; High levels of new room supply and Weak business travel demand. The slower growth is especially apparent in London but the capital is still operating at the top of its game with some of the highest performance metrics in Europe.

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North American Hoteliers Kick Off Second Half of 2018 with Continued Steady Rates and Bookings; Q2 2019 Shows Signs of Softness
TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's August 2018 North American Hospitality Review (NAHR). According to this data, the second half of the year has stable rates and bookings across all travel segments, up 1.80 percent in average daily rates (ADR) and 0.51 percent in bookings in the third quarter when compared to the prior year. Group travel in Q3 is also up 1.81 percent in ADR and 0.50 percent in bookings, and the transient segment overall is up 1.80 percent in ADR and 0.52 percent in bookings in the same time period.

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Ten Years Later: Has The U.S. Lodging Industry Really Recovered? | By Robert Mandelbaum and Keval Rama
Lodging is a cyclical industry meaning that it passes over time through four distinct phases: peak, contraction, trough and expansion. Most industry participants believe that 2007 was the previous peak of the current business cycle following six years of expansion from the 2001 industry recession. According to STR, the demand for lodging increased for six consecutive years from 2002 through 2007, while average daily room rates (ADR) grew in excess of 4.5 percent during the latter four years. Per CBRE Hotels' Trends in the Hotel Industry survey, gross operating profits (GOP) were growing at a 10 percent annual pace leading up to 2007.

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STR: U.S. hotel performance for August 2018
The U.S. hotel industry reported positive results in the three key performance metrics during August 2018, according to data from STR. In a year-over-year comparison with August 2017, the industry posted the following:

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Horwath HTL Industry Report: Auckland Hotel Market Outlook
Auckland has been one of the region's best performing hotel markets with RevPAR of the major hotels increasing by 60% over the past five years. Government and tourism agencies have been calling for more hotels to cope with the influx of international visitors. Developers and investors are responding despite increasing construction costs and local government taxes. But is their response proportional to the need?

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STR: U.S. hotel results for week ending 8 September
The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 2-8 September 2018, according to data from STR. In comparison with the week of 3-9 September 2017, the industry recorded the following:

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Manhattan Lodging Index Q2 2018
Average daily room rate (\"ADR\") was up for the sixth consecutive month, driving continued strength for Manhattan hotels in revenue per available room (\"RevPAR\") growth during Q2. During the quarter, growth in lodging demand continued to exceed increases in room supply, with occupancy posting gains quarterover-quarter and year-over-year. As pricing power appeared to finally return to the Manhattan lodging market, RevPAR increased 4.3 percent over prior year levels, driven largely by growth in ADR levels at hotels across all classes and neighborhoods. As the Manhattan lodging market continues to strengthen, ADR growth has improved, increasing 3.3 percent for the first half of 2018. RevPAR also showed improvement, increasing 5.5 percent during the first six months of the year. With occupancy reported at 90.7 percent in Q2 across Manhattan, Q2 2018 marked the highest year-to-date occupancy level over the 24-year period tracked.

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Baird/STR Hotel Stock Index flat in August
The Baird/STR Hotel Stock Index remained flat in August at 4,872. Year to date through the first eight months of 2018, the stock index was down 0.3%. \"The hotel brands and hotel REITs both underperformed their benchmarks for the third consecutive month in August,\" said Michael Bellisario, senior hotel research analyst and VP at Baird. \"While second-quarter earnings reports were generally positive, forward-looking guidance updates did not signal any further growth reacceleration would be forthcoming in the near term, which we believe left some investors disappointed, particularly as 2019 outlooks are coming into focus.\"\"The flat performance for the hotel stock index came after the industry reported the single largest room demand month ever in July, pointing to healthy business from all areas of the economy,\" said Amanda Hite, STR's president and CEO. \"As occupancy continues to increase gradually, all eyes are on the potential for accelerated pricing power. This becomes even more important as the rate of inflation grows, wiping out most nominal ADR gains and leaving real rate growth stymied. But overall trends continue to be healthy and our latest forecast calls for prolonged RevPAR growth through 2019.\"The Baird/STR Hotel Stock Index lagged behind the performance of the S&P 500 (+3.0%) and the MSCI US REIT Index (+2.8%). The Hotel Brand sub-index decreased 1.2% from July to 7,054, while the Hotel REIT sub-index jumped 2.0% to 1,808.

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STR: Preliminary August data for Melbourne hotels
STR's preliminary August 2018 data for hotels in Melbourne, Australia, indicates lower occupancy with higher rates. Based on daily data from August, Melbourne reported the following in year-over-year comparisons:

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STR: Preliminary August data for Jeddah hotels
STR's preliminary August 2018 data for Jeddah, Saudi Arabia, indicates strong demand and performance growth.Based on daily data from August, Jeddah reported the following in year-over-year comparisons:

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STR: Preliminary August data for London hotels
STR's preliminary August 2018 data for London, England, indicates strong performance driven by significant growth in demand. Based on daily data from the month, London reported the following in year-over-year comparisons:

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HVS Asia Pacific Hospitality Newsletter - Week Ending 7 September 2018
Heeton and KSH Jointly Acquires Smile Hotel Asakusa in Tokyo, Japan

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U.S. hotel results for week ending 1 September
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 August through 1 September 2018, according to data from STR. In comparison with the week of 27 August through 2 September 2017, the industry recorded the following:

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To Q3 and Beyond: Hotel Industry Forecast for San Diego, Arizona, Colorado, and Other U.S. Markets | By Robert A. Rauch
U.S. Economy

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CBRE Hotels Canada Q2 Update
CBRE Hotels Canada Q2 Update presents the highlights from the second quarter of 2018 relative to the 2018 Outlooks for the nation's major markets.

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August

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U.S. Traveler Sentiment and Intentions Are Down but Spend per Trip Is up From 2017
Following two record years for the travel industry, Traveler Sentiment and Intentions are beginning to taper off. Traveler Sentiment displayed a 6 point decrease from this time last year while travel intentions also displayed a 6 point decrease, according to the latest travelhorizons survey of 2,303 U.S. adults conducted by marketing services firm MMGY Global.

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STR: U.S. hotel results for week ending 25 August
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 19-25 August 2018, according to data from STR. In comparison with the week of 20-26 August 2017, the industry recorded the following:

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July 2018: Summer Slump at Hotels in the Middle East & Africa a Drag on Profits
GOPPAR at hotels in the Middle East & Africa dropped to a new low of $34.70 in July as temperatures in the region soared and demand levels lagged, according to the latest worldwide poll of full-service hotels from HotStats.

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PwC Hospitality Directions U.S. Report Updates Lodging Outlook Suggesting Sustained Momentum Through 2019
Stronger economic indicators in Q2, coupled with accelerating group demand, suggests sustained momentum for the lodging sector through 2019

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Canadian Lodging Outlook Quarterly 2018-Q2
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.

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UNWTO Highlights Confirm Another Record Year in 2017
International tourist arrivals grew 7% in 2017, the highest increase since 2010, according to the World Tourism Organization (UNWTO)'s latest collection of Tourism Highlights. Growth in arrivals was echoed by a strong increase in exports generated by tourism, which reached US$ 1.6 trillion in 2017, making tourism the world's third-largest export sector.

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Colliers International release their Australia New Zealand Capital Market Investment Review Hotels research report
Gus Moors and Karen Wales of Colliers International have found that Australian hotel transaction activity slowed in FYE2018 with volumes easing to $1.338 billion - however deal flow increased with 35 transactions (above $10 million) concluding throughout the year; This compares to 30 transactions in FYE2017.

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STR: Central/South America hotel performance for July 2018
Hotels in the Central/South America region reported a slight occupancy decline with significantly higher room rates during July 2018, according to data from STR.

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HVS Market Pulse: Greater Phoenix, AZ | By Michael Smithson
Following several years of strong RevPAR growth leading up to Super Bowl XLIX in 2015, growth in the Phoenix market has slowed somewhat. ADR growth was modest in 2016, as much of the market experienced a post-Super Bowl correction, but ADR rebounded in 2017. Occupancy growth has remained relatively modest since 2016, slowing even more in 2017 but remaining positive. Year-to-date data through May 2018 illustrate modest increases in both occupancy and ADR, resulting in moderate RevPAR gains.

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U.S. hotel forecast lifted for 2018 and 2019
The U.S. hotel industry is projected to exceed earlier forecasts and continue on its record-breaking performance run through 2019, according to STR and Tourism Economics' revised forecast just released at the 10th Annual Hotel Data Conference. \"Rarely do we lift our ADR projections during our mid-year revisions, but stronger-than-expected pricing power over the last quarter has led us to lift our rate forecast by 10 basis points,\" said Amanda Hite, STR's president and CEO. \"Certainly, inflation plays a role in ADR growthinflation-adjusted figures show that ADR has basically been flatbut solid economic conditions and an earlier stronger impact from the recent tax cuts are helping to push growth further in the metrics.\"

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STR: U.S. hotel results for week ending 11 August
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 5-11 August 2018, according to data from STR. In comparison with the week of 6-12 August 2017, the industry recorded the following:

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HVS Market Pulse: Bangkok, Thailand
Bangkok, located in the central region of Thailand, is the county's political and commercial centre and has been the official capital city since 1782. Bangkok is also the main gateway city to Thailand and serves as an aviation hub for the region. The city attracts international and regional markets through a combination of cultural charm and modern shopping centres, appealing to a wide range of travellers. The following article gives a brief overview of Bangkok, its different sub-markets, its tourism industry, and the recent dynamics of the local lodging market.

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STR's Caribbean/Mexico hotel supply development update - July 2018
Located below is our latest infographic for Caribbean/Mexico hotel supply development. Click on the image should you need to download a high-resolution version. Additionally, we are more than happy to help if you would like to receive pipeline figures for other markets. Please feel free to contact the STR representatives listed below with your request. As always, we welcome any feedback you may have regarding our media communications.

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STR's Central/South America hotel supply development update - July 2018
Located below is our latest infographic for Central/South America hotel supply development. Click on the image should you need to download a high-resolution version. Additionally, we are more than happy to help if you would like to receive pipeline figures for other markets. Please feel free to contact the STR representatives listed below with your request. As always, we welcome any feedback you may have regarding our media communications.

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STR's Asia Pacific hotel supply development update - July 2018
Located below is our latest infographic for Asia Pacific hotel supply development. Click on the image should you need to download a high-resolution version. Additionally, we are more than happy to help if you would like to receive pipeline figures for other markets. Please feel free to contact the STR representatives listed below with your request. As always, we welcome any feedback you may have regarding our media communications.

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STR's U.S. hotel supply development update - July 2018
Located below is our latest infographic for U.S. hotel supply development. Click on the image should you need to download a high-resolution version. Additionally, we are more than happy to help if you would like to receive pipeline figures for other markets. Please feel free to contact the STR representatives listed below with your request. As always, we welcome any feedback you may have regarding our media communications.

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STR's Europe hotel supply development update - July 2018
Located below is our latest infographic for Europe hotel supply development. Click on the image should you need to download a high-resolution version. Additionally, we are more than happy to help if you would like to receive pipeline figures for other markets. Please feel free to contact the STR representatives listed below with your request. As always, we welcome any feedback you may have regarding our media communications.

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STR's Middle East and Africa hotel supply development update - July 2018
Located below is our latest infographic for Middle East and Africa hotel supply development. Click on the image should you need to download a high-resolution version. Additionally, we are more than happy to help if you would like to receive pipeline figures for other markets. Please feel free to contact the STR representatives listed below with your request. As always, we welcome any feedback you may have regarding our media communications.

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Whitebridge EMEA hotels monitor August 2018
Brexit aside, strong economic growth, political stability and growing tourism numbers have fuelled strong growth in performance levels across most of Europe. France continues to recover from a succession of poor years, whilst others are maximising on the international travel boom.

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STR: Preliminary July data for London hotels shows record-breaking performance
STR's preliminary data for London, England, indicates record-breaking levels in average daily rate and revenue per available room.Based on daily data from July, London reported the following in year-over-year comparisons:

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STR: Preliminary July data for Dubai hotels
STR's preliminary July 2018 data for Dubai, United Arab Emirates, indicates performance consistent with strong growth in both supply and demand. Based on daily data from July, Dubai reported the following in year-over-year comparisons:

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STR: Preliminary July data for Sydney hotels
STR's preliminary July 2018 data for hotels in Sydney, Australia, indicates performance affected by significant supply growth and less market events. Based on daily data from July, Sydney reported the following in year-over-year comparisons:

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STR: U.S. hotel results for week ending 4 August
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 29 July through 4 August 2018, according to data from STR. In comparison with the week of 30 July through 5 August 2017, the industry recorded the following:

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STR: U.K. holiday rental data shows different performance trends than hotels
Holiday rentals in the United Kingdom showed lower occupancy, higher prices and different seasonal trends than hotels in the market, according to a STR analysis of SuperControl proprietary data.The analysis, conducted to provide a high-level understanding of the lodging landscape in the U.K., compares three years of market-level data (2015-17) from STR's industry leading hotel performance database with holiday rental data from SuperControl's booking and management software. While SuperControl provided STR with property-level performance data for its entire U.K. portfolio of more than 12,000 properties, STR chose to limit its analysis to rentals with four or fewer bedrooms to provide a more relevant comparison with hotel rooms. STR was not remunerated in any way for its analysis, and its participation in this analysis was not contingent upon developing or reporting predetermined results. Additionally, this analysis may not be fully representative of the wider U.K. holiday rental market. Key findings from the analysis include:

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Top Franchise Companies And Brands In The U.S. Construction Pipeline
In the second quarter of 2018, analysts at Lodging Econometrics (LE) report that the top franchise companies with the largest construction pipelines are: Marriott International with 1,351 projects/177,743 rooms, Hilton Worldwide with 1,327 projects/147,728 rooms, and InterContinental Hotels Group (IHG) with 932 projects/95,018 rooms. Development projects in these three franchise companies comprise 66% of total construction pipeline rooms.The largest brands for each of these companies are Marriott's Fairfield Inn with 284 projects/27,584 rooms, Hilton's Home2 Suites by Hilton with 384 projects/40,240 rooms and IHG's Holiday Inn Express with 430 projects/40,162 rooms. These three brands alone make up 17% of the total construction pipeline rooms.Other high volume brands in the pipeline for each of these franchises are: Marriott's TownePlace Suites with 201 projects/20,737 rooms and Residence Inn with 190 projects/23,443 rooms; Hilton's Hampton Inn and Suites with 302 projects/30,700 rooms and Tru by Hilton with 298 projects/28,776 rooms; and IHG's Staybridge Suites with 143 projects/15,206 rooms and Avid Hotel with 121 projects/11,187 rooms.

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STR: U.S. hotel results for week ending 28 July
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 22-28 July 2018, according to data from STR. In comparison with the week of 23-29 July 2017, the industry recorded the following:

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Leading Markets in the U.S. Construction Pipeline
According to the second quarter construction pipeline trend report by Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines are: New York City with 169 projects/29,365 rooms; Dallas with 156 projects/18, 908 rooms; Houston with 150 projects/16,321 rooms; Nashville with 123 projects/16,392 rooms; and Los Angeles with 121 projects/18,037 rooms. The five top markets with the most projects currently under construction are New York City with 101 projects/17,108 rooms, Dallas with 47 projects/6,350 rooms, Nashville with 43 projects/7,005 rooms, Houston with 40 projects/4,738 rooms, and Atlanta with 28 projects/3,387 rooms. In the second quarter, Nashville has the largest number of new projects announced into the pipeline with 13 projects/1,351 rooms, followed by Los Angeles with 12 projects/1,845 rooms, New York City with 11 projects/1,075 rooms, Houston with 11 projects/909 rooms, and Dallas with 10 projects/1,229 rooms. If all of the projects in their pipelines come to fruition, these leading markets will increase their current room supply by: Nashville 38.2%, Austin 29.3%, Fort Worth 28.5%, San Jose 25.3%, and New York City 25.2%. Hotels forecast to open in 2018 are led by New York City with 45 projects/7,762 rooms, followed by Dallas with 33 projects/ 3,813 rooms, and then Houston with 27 projects/3,114 rooms. In 2019, New York is forecast to again top the list of new hotel openings with 52 projects/7,356 rooms while, at this time, Dallas is anticipated to take the lead in 2020 with 40 projects/4,943 rooms expected to open.

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Opportunity abounds in African Apart-Hotel sector
\"When looking at the growth of Africa's apart-hotel sector, it's clear that the market still brims with opportunity,\" says Wayne Troughton, CEO of specialist global hospitality and tourism firm, HTI Consulting.

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U.S. Construction Pipeline Continues Moderate Growth Year-Over-Year
At the end of the second quarter, analysts at Lodging Econometrics (LE) report that the total U.S. construction pipeline stands at 5,312 projects/634,501 rooms, up 7% from 2017's 4,973 projects/598,371 rooms. The pipeline has been growing moderately and incrementally each quarter and should continue its upward growth trend as long as the economy remains strong. Pipeline totals are still significantly below the all-time high of 5,883 projects/785,547 rooms reached in 2008. Projects scheduled to start construction in the next 12 months have seen minimal change year-over-year (YOY) with 2,291 projects/266,878 rooms. Projects currently under construction are at 1,594 projects/208,509 rooms, the highest recorded since 2007. This also marks the fourth consecutive quarter that the number of rooms under construction has been over 200,000 units. Early planning with 1,427 projects/159,114 rooms, saw a 25% increase in projects and 18% increase in rooms YOY. This increase in early planning is typical late cycle activity where developers are anxious to move from the drawing board into the permitting phase prior to any economic slowdown. Many are larger projects that wait for peak operating performance in their markets before seeking financing. Both the increase in projects under construction and those in the early planning stage are reflective of the urgency developers currently have before the economy softens and/or interest rates further accelerate.

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Knowledge Center MPI Summer 2018 Edition of Meetings Outlook Report

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GBR - Greek Hospitality Industry Performance 2018 Q2
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 socio-economic developments.

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July

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Horwath HTL Industry Report: Wellness-themed vs Wellness Hospitality
With the rise of the global wellness industry, many hospitality companies increasingly incorporate various elements of wellness into their product and service offering. The reality is that merely highlighting healthy features or amenities is 'well-washing' and confuses developers and consumers alike.

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Asian cities dominate top 10 rankings of international tourist arrivals in 2017, says GlobalData
Asian cities had outnumbered their counterparts in Europe and America in terms of international tourist arrivals in 2017, according to leading data and analytics company GlobalData. Asia was represented by seven citiesBangkok, Singapore, Tokyo, Hong Kong, Seoul, Kuala Lumpur and Shenzhenwhile Europe, Middle East and America were limited to one city eachwith London, Dubai and New York City respectively.

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STR: Federal conference spending dips for first time since 2013
U.S. government conference spending for fiscal year 2017 decreased 15.7% after four consecutive years of growth, according to an analysis by STR's Market Insights teamFor the purpose of its analysis, STR included only those conferences with a minimum total net cost of $100,000 of taxpayer money. Memorandum 12-12 from the Office of Management and Budget requires such conferences to be reported publicly. Total conference spend in 2017 was $140 million after the government spent $166 million in 2016. Previous yearly totals were $121 million in 2015, $107 million in 2014, $100 million in 2013 and $276 million in 2012. \"The last decrease in the industry came after reports of reckless spending by certain government departments in 2012,\" said Chris Klauda, STR's Senior Director of Market Insights. \"That year (2013), entire industry spending dropped by nearly two-thirds following M-12-12. Aside from the decrease in 2017, the most interesting finding from our study was that several agencies appear to no longer report their conference spending after reports were made public consistently for the previous five years. That is likely due to loosened enforcement of public expenditure reporting from M-17-08.\"

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STR: Mexico hotel occupancy falls during Q2 2018
Mexico's hotel industry reported lower occupancy levels but growth in room rates during Q2 2018, according to data from STR. Compared with Q2 2017:

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STR: Canada experiences highest Q2 hotel occupancy since 1999
Canada's hotel industry reported positive year-over-year results in the three key performance metrics during the second quarter of 2018, according to data from STR. Compared with Q2 2017:

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HotStats MENA Chain Hotels Market Review - June 2018
June 2018: RevPAR Up But Profit Down at Hotels in the Middle East & Africa Falling Non-Rooms Revenues, as well as rising costs, contributed to the -2.3% decline in GOPPAR at hotels in the Middle East & Africa in June, which was also in spite of a +1.4% year-on-year increase in RevPAR, according to the latest worldwide poll of full-service hotels from HotStats.

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STR: U.S. hotel results for week ending 21 July
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 15-21 July 2018, according to data from STR. In comparison with the week of 16-22 July 2017, the industry recorded the following:

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STR & MAGMA: Spanish hotel sector still booming despite upcoming challenges
Thanks to strong performance growth in several markets, Spain's hotel industry has seen a surge in investment interest despite the political situation in Barcelona, according to STR and Magma Hospitality Consulting. \"Investment into Spain's hotel sector has been largely driven by strong international tourism demand, even during the financial crisis,\" said Albert Grau, founding partner of Magma. \"Increasing holiday tourism, as well as 'bleisure' travel, have set the market up for numerous development opportunities, with several operators currently working to improve their products and services to meet this increasing demand.\"

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HotStats UK Chain Hotels Market Review for June 2018
June 2018: UK Hotels Record First Profit Growth in a Challenging Year Hotels in the UK recorded a 3.0% increase in profit per room in June, which was the first monthly year-on-year growth in this measure since the beginning of 2018 and was thanks to an uplift in revenue which outpaced the ongoing increase in costs, according to the latest worldwide poll of full-service hotels from HotStats.

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HVS Market Pulse: Tucson, AZ
The Tucson lodging market often lives in the shadow of its bigger sibling, Phoenix. And while meeting and group demand in both markets is driven by Arizona's idyllic weather during the winter and spring, differences in local dynamics paint significantly different pictures in terms of leisure and commercial demand.

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June 2018: Standout GOPPAR Growth Contributes to Positive H1 Performance at U.S. Hotels
An +8.5 percent year-on-year increase in profit per room in June contributed to the +4.2 percent increase for H1 2018 at U.S. hotels, which was due to an increase in revenue as well as a reduction in costs, according to the latest worldwide poll of full-service hotels from HotStats.

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