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Market Recovery Monitor - 8 January 2022

The first week of 2022 (2-8 January) was somewhat typical for a first week in January. U.S. hotel industry occupancy dipped to 45.4%, which was eight percentage points lower than what it was in the comparable week of 2019 but eight percentage points higher than a year ago. In STR’s 23 years of daily performance measurement, this most recent week’s occupancy was among the lowest for the comparable time period—better than what was seen in 2000 and 2011 but worse than most all of the early 2...
Tags: Travel, STR

Omicron Variant Expected To Have Little Impact on US Hotel Demand

Preliminary performance data from CoStar hospitality analytics firm STR shows no impact from the emerging COVID-19 omicron variant on U.S. hotel demand, and patterns suggest any impact in the future will be minimal, according to Jan Freitag, national director for hospitality analytics at CoStar.
Tags: Travel, US, STR, Jan Freitag

Nashville is STR’s first U.S. Forward STAR market

Nashville is the first active U.S. market for STR‘s Forward STAR, which allows hotels to benchmark future occupancy on the books against the marketplace.
Tags: Travel, Nashville, STR

Robinhood drops after trading platform discloses a data breach of 7 million customers and an extortion attempt by hackers

Robinhood. SOPA Images/Getty Images Robinhood stock fell Tuesday after the company said data on millions of customers was exposed in a data breach The hacker also attempted to extort a payment from the trading platform after the breach. The news elicited jeers and humor in the WallStreetBets community on Reddit. Robinhood stock fell Tuesday after the retail trading platform disclosed a security breach that exposed data on millions of its customers followed by an extortion attempt. A hack...
Tags: Trends, Markets, Social Security, Reddit, Robinhood, Gamestop, STR, Carla Mozee, Reddit Robinhood, MI Exclusive, Robinhood stock price, HOOD stock price, Robinhood data breach, Robinhood extortion attempt, Robinhoood security breach, Robinhood SOPA Images Getty Images Robinhood

Latest Hurricane Ida Analysis Reflects Vast Reopening in New Orleans

Following up on STR’s initial Hurricane Ida analysis from 10 September, a vast majority of hotels in the New Orleans MSA have reopened with improving occupancy levels, especially in the core city center/central business district. This high volume of reopenings was to be expected because most closures were due to short-term power outages rather than property damage. Remaining short-term temporary closures are mostly concentrated in submarkets outside of the city.
Tags: Travel, New Orleans, STR

2020-21 Australian accommodation monitor shows performance divide between capitals and regional areas

Australian accommodation declines for the 2020-21 financial year were worse for capital markets than regional areas, according to STR’s collection of national accommodation statistics through the Australian Accommodation Monitor.
Tags: Travel, STR

US Hotel Profitability Makes Strides, But Unevenly Across Industry

Hotel profitability has come a long way since the emergence of the COVID-19 pandemic, and particularly in the past few months, according to data from STR, CoStar's hospitality analytics firm.
Tags: Travel, US, STR, Unevenly Across Industry

STR: Canada hotel performance reaches pandemic-era highs

Canada’s hotel industry reported its highest monthly performance levels since the pandemic began, according to STR’s July 2021 data.
Tags: Travel, Canada, STR

Don’t Call It a Comeback: Top 25 Markets Kick-Start Hotel Recovery

As some of the biggest and most business-based markets in the U.S., the top 25 markets have struggled the most of STR’s 166 markets over the past 14 months.
Tags: Travel, STR

Americans want to travel again but some vacations are now way more expensive than normal, thanks to a 17% spike in flight fares and rising hotel prices

Families gather at Fort Lauderdale Airport for a trip to New York Rodrigo Varela / Getty Images for CLEAR The cost of US international flights is up 17% since April 1, and domestic flights have risen 9%, CNBC reports. Some hotel room rates are also higher than in 2019, but most are below pre-pandemic levels. An increase in bookings, the reintroduction of flight-change fees, and the reopening of major attractions are contributing to rising prices. See more stories on Insider's busine...
Tags: Travel, Transportation, New York, News, Hotels, New York City, US, Trends, Airlines, Cnbc, Delta Air Lines, Bernstein, Disney World, CANCUN Mexico, STR, Fort Lauderdale Airport

Hospitals could mandate coronavirus vaccinations for employees, state has lowest COVID-19 rate in nation, DOD expected to deny funding for Hawaii missile defense, more news from all the Hawaiian Islands

A hospital in Hawaii Hawaii's Hospitals Could Mandate COVID-19 Vaccine for Employees. Hilton Raethel, President and CEO of the Healthcare Association of Hawaii says he was "disappointed" that more than thirty percent of hospital employees did not want to receive a COVID-19 vaccine according to an internal survey they conducted earlier this year.  KITV4.Hawaii has nation’s lowest COVID-19 case rate, Centers for Disease Control and Prevention data shows. The state’s rate of new cases over t...
Tags: Travel, California, Cdc, Senate, Pennsylvania, Hawaii, House, Nashville, Island, Michigan, Bill, City Council, Defense Department, Centers For Disease Control And Prevention, Hawaii Island, Maui

Mumbai’s Rapid Hotel Recovery Faces Headwinds

Mumbai's rapid hotel performance recovery is projected to return to more moderate levels, according to a recent market forecast from STR and Tourism Economics.
Tags: Travel, Mumbai, STR, Rapid Hotel Recovery Faces Headwinds

8 signs that travel is on the verge of a booming comeback

Americans are ready to travel again. Noam Galai/Getty Images Vaccines, a new stimulus, and the prospect of summer have Americans itching to travel again. Airline, hotel, and restaurant spending is already up as the country begins to reopen. New travel trends like "workcation" and "pod travel" are already emerging. See more stories on Insider's business page. Vaccine distribution is ramping up, stimulus checks are being sent, and summer is on the horizon. It's a hopeful combination ...
Tags: Google, Florida, NYC, New York City, US, Trends, Georgia, Research, Hawaii, Ubs, Tsa, Las Vegas, Airlines, Wall Street Journal, Southwest Airlines, Financial Times

#Dubai’s Open-City Policy Saw Hotel Bookings Surge in December - Bloomberg

Dubai’s Open-City Policy Saw Hotel Bookings Surge in December - Bloomberg Occupancy at Dubai’s hotels surged in December and neared pre-pandemic levels as travelers flocked to the emirate to escape coronavirus lockdowns at home.Hotels were 71% full last month -- the highest figure since February -- research firm STR said, citing preliminary data. Dubai’s hotel occupancy, for years one of the highest in the world, slumped to 23% in part of 2020 from about 80%.Dubai attracts about 16 million t...
Tags: Travel, Dubai, Persian Gulf, STR, Rupert Neil Bumfrey

U.S. hotel transactions down 74% due to COVID-19

BROOMFIELD, Colorado—U.S. hotel transactions were down 74% year over year from March to May 2020, according to the just-released Hotel Transaction Almanac produced by STR's Consulting & Analytics office and CoStar Group. "The industry went from a position of record profit levels to financial distress in a matter of weeks, creating a shift in focus for those in the transactions community," said Hannah Smith, a senior consultant at STR. "Looking ahead, we expect transaction activity to even...
Tags: Travel, Smith, Bellagio, Phoenix, STR, Broomfield Colorado, Hannah Smith, STR s Consulting Analytics, CoStar Group, Boca Raton Las Vegas Miami Beach

STR and TE further downgrade U.S. hotel forecast

Tennessee—The latest U.S. hotel forecast from STR and Tourism Economics projects a 57.5% decline in revenue per available room (RevPAR) in 2020, then a 48.0% increase in the metric in 2021. Each percentage change was downgraded from a late-March forecast revision, which called for a 2020 RevPAR decrease of 50.6% followed by a 2021 increase of 63.1%. "Performance levels are dismal from every angle, but at the very least, weekly data through May 9 indicates that the industry has already hit...
Tags: Travel, Tennessee, STR, Amanda Hite, Adam Sacks Tourism Economics

STR: Tokyo’s Olympic hotel gains forecasted to lessen in 2021

The Summer Olympics' performance gains for Tokyo hotels are projected to be lower after the one-year delay in the event, according to the latest forecast from STR and Tourism Economics. "We are projecting less overall demand when compared with our initial forecast for 2020, and while double-digit RevPAR growth is expected, it will come from a much lower base," said Robin Rossmann, STR's managing director. "Lower absolute demand levels would be linked with traveler perception based on the ...
Tags: Travel, Tokyo, STR, ADR, Robin Rossmann

U.S. hotel RevPAR forecasted to drop 50.6% for 2020

Due to the impact from the COVID-19 pandemic, the U.S. hotel industry is projected to report a 50.6% decline in revenue per available room (RevPAR) in 2020, according to a special forecast revision from STR and Tourism Economics.
Tags: Travel, STR

Pricing Psychology in Challenging Times

As the coronavirus continues to spread, many hoteliers are wondering how to adjust their revenue strategy. Carter Wilson, senior vice president of consulting and analytics at STR, presented data from the 2009-2010 recession to illustrate the implications of dropping prices versus holding steady during low-demand periods as part of a program in HSMAI's Confronting Coronavirus webinar series called "Pricing Psychology in Challenging Times" on March 10.
Tags: Travel, STR, Carter Wilson, Pricing Psychology in Challenging Times

Coronavirus Hits German Hotel Industry Hard: More Than Every-3-Guests Stay Away

Since 1 March 2020, hotel occupancy in Germany has decreased by more than 36% compared to the previous year: This is shown by the analyses of the market research companies STR and Fairmas. They show that in addition to air transport, logistics, trade fair organizers, tourism service providers, cultural institutions and domestic industry, the hotel industry in particular is struggling with dramatic declines in sales.
Tags: Travel, Germany, STR

Coronavirus Hits The Hotel Industry Hard: More Than Every-3-Guests Stay Away

Since 1 March 2020, hotel occupancy in Germany has decreased by more than 36% compared to the previous year: This is shown by the analyses of the market research companies STR and Fairmas. They show that in addition to air transport, logistics, trade fair organizers, tourism service providers, cultural institutions and domestic industry, the hotel industry in particular is struggling with dramatic declines in sales.
Tags: Travel, Germany, STR

Coronavirus: Preliminary hotel performance impact

Preliminary data and analysis from STR shows a hotel occupancy decline of 75% in Mainland China from 14-26 January 2020. Performance during the Chinese New Year holiday period was significantly worsened by the outbreak of novel coronavirus (2019-nCoV)."The Chinese New Year holiday week, extended by three days this year, normally sees a significant shift in travel patterns across the country with very specific hotel occupancy movements," said Jesper Palmqvist, STR's Area Director - Asia Pa...
Tags: Travel, Mainland China, STR

STR founder Randell Smith named 2020 Cornell Hospitality Icon

The Cornell University School of Hotel Administration has selected Randell A. Smith, chairman and co-founder of STR, to receive the 2020 Cornell Hospitality Icon of the Industry Award. The award will be presented at the 12th annual Cornell Hospitality Icon and Innovator Awards gala, to be held on Tuesday, June 2, at the Ziegfeld Ballroom in New York City.
Tags: Travel, Cornell University School of Hotel Administration, STR, Cornell Hospitality Icon, Ziegfeld Ballroom, Randell Smith, Randell A Smith

Luxury Hotels: Elevated Occupancy and Expenses | By Mark Woodworth and Robert Mandelbaum

Despite the relatively high cost of construction and complexity of operations, developers are still attracted to owning and managing luxury hotels. As of August 2019, STR reports that just 0.7 percent of the hotels (2.3% of rooms) in the United States are chain-affiliated luxury hotels. Concurrently, the STR pipeline report shows that 1.2 percent of the properties (2.9% of rooms) either under construction or planned for development meet this criterion.
Tags: Travel, United States, STR, Mark Woodworth, Robert Mandelbaum

Midnight Sun rifle Challenge pt5

We gather for the briefing, theres about 60 of us. My waist comes up to somewhere just above their knees. They are clearly the descendants of war parties that crossed oceans in river boats, and more recently conducted guerrilla warfare against the nazis. The Norwegians are also clearly a nation who like their Gucci gear, none of the budget crap kit you see at Bisley, nary ‘a Hawke scope in sight, Delta is the entry level scope, the excellent 525i Kahles are very popular, so are Nightforce, ...
Tags: US, Sport, Delta, Finland, Fishing, Norway, Vikings, Gucci, Hawke, Shultz, Crye, Sig Sauer, STR, Nightforce, Vorn, Bisley

STR: Hurricane Irma’s initial impact on hotel markets

According to an initial analysis by STR,most major hotel markets in Florida saw dramatic performance declines during the days ahead of Hurricane Irma's landfall, while evacuation destinations like Orlando, Atlanta, Birmingham andChattanooga experienced significant performance growth. For the purpose of its analysis, STR examined its most recently processed daily data, which ran through Saturday, 9 September. Data submission was interrupted across dozens of hotels over the days of 3-9 Sept...
Tags: Travel, Florida, Houston, Florida Keys, STR, Orlando Atlanta Birmingham, Chad Church STR

Can Google search results predict hotel occupancy rates?

Google and STR have recently joined forces to share findings on how accommodation searches in New York and London correspond to hotel demand and occupancy data for those markets.
Tags: Google, New York, London, Hotels, STR

Why do hotels still put a Bible in the nightstand? |

Those brave enough to open the drawer of a hotel nightstand may still find a relic from the days before people traveled everywhere with a digital computer in their pockets: a Christian Bible. Found in chain hotels, motels and inns throughout the United States, this universally accepted hotel accessory is as common as a blow dryer, clean towels and mini soaps. And while some hotels are backing away from including religious texts in their rooms (Marriott’s Millennial-focused brands Moxy and...
Tags: Travel, United States, Marriott, STR, Moxy

More growth forecasted for Canadian hotel industry

Canada's hotel industry is projected to report further performance growth through 2018, according to a quarterly forecast report from STRand Tourism Economics.Canada reported a 5.5% increase (Canadian dollars) in revenue per available room during the first quarter of 2017. Growth was driven equally by occupancy (+2.7%) and average daily rate (+2.7%). For the remainder of the year, STR and Tourism economics project RevPAR increases of 5.0% (Q2), 2.7% (Q3) and 4.2% (Q4). "Canada has really ...
Tags: Travel, Toronto, Canada, Vancouver, Montreal, STR, STRand Tourism Economics Canada, Owoo

STR and Google find strong correlation between searches and hotel bookings

Higher Google search volumes are strongly correlated with higher hotel demand levels, according to an analysis from STR and Google. For the purpose of their regression analysis, STR and Google selected New York City and London as case study markets due to proportionate market size and other comparable hotel performance indicators. Search patterns and hotel performance trends were studied for each market in 2015 and 2016. "Our study showed a statistically significant relationship between G...
Tags: Travel, Google, New York, London, New York City, STR, Robert Bauer, Higher Google