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STR Weekly Insights on Global Hotel Industry Performance: 10

Article - STR Weekly Insights on Global Hotel Industry Performance: 10 - 16 March 2024 - Second consecutive weekly U.S. RevPAR decrease - Weakness in ADR growth persists - Demand bifurcating, growing in upper tiers and falling in lower tiers - Global RevPAR declines for the first time since 2021 ....

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STR Weekly Insights: 10-16 March 2024

U.S. revenue per available room (RevPAR) dipped for a second consecutive week and by the worst percentage (-3.5%) since the last week of 2023. Sixty percent of the decline came from average daily rate (ADR), which was down 2.1%. All but two chain scales, Upper Upscale and Upscale, saw RevPAR decrease with the largest decline in the branded portion of the chain scales occurring in Economy (-8%). Performance was down on all days of the week with the largest declines occurring on Thursday (-5.8%) and Friday (-6.7%). Weekdays (Monday-Wednesday) did better with RevPAR down 2.3%. ....

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STR Weekly Insights: 4-10 February 2024

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

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STR Weekly Insights: 7-13 January 2024

Early January is generally a slow period for the hotel industry. Thus, this week’s robust gain (+6.3%) in average daily rate (ADR) came as a surprise given occupancy was down 1.5 percentage points (ppts). A closer look revealed that most of the growth was due to a single market Las Vegas, which hosted the annual Consumer Electronics Show (CES) a week later than in 2023. U.S. revenue per available room (RevPAR) advanced 3.3% due to the ADR boost. ....

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U.S. hotel commentary - November 2023

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

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