According to STR, U.S. hotels achieved all-time high levels of occupancy, ADR, and RevPAR in 2018. While a record number of guests are staying at hotels, and revenues are flowing in, the ability to collect these funds is starting to become more of a challenge.
Theres a popular saying that reads, 'prepare and prevent, dont repair and repent.' This seemingly simple sentiment hints at a universally understood and applied concept be pro-active, rather than reactive. Now, lets put this theory to work.
U.S. hotel occupancy rose 2.4% to 69.9% during the week of 7-13 April, while ADR increased 4.4% to $136.25 and RevPAR rose 6.9% to $95.22.
During the week of 7-13 April, Canadian hotel occupancy rose 3.2% to 64.1%, ADR increased 4.4% to 153.05 Canadian dollars ($114.37) and RevPAR rose 7.6% to CA$98.09 ($73.30).
This latest report by Damien Little, Horwath HTL Asia Pacific, provides a break down of where new supply additions will be located, as well as a break down by class so as to provide a greater insight as to the potential impacts of new supply additions on the Melbourne hotel market.
Preliminary March data for Sydney's hotel market shows occupancy declined 1.3% for the month.
Jeddah's hotel demand outpaced supply in March, according to preliminary monthly data from STR.
e-forecasting.com's U.S. monthly GDP, monthlyGDP , rose in March by an annualized month-to-month growth rate of 1.2% to $18,921 billion of chained 2012 dollars expressed at seasonally adjusted annual rates, following an increase of 2.4% in February.
Preliminary March data shows demand outpaced supply among hotels in London, leading to a 2.1% occupancy increase.
The U.S. hotel industry reported occupancy rose 0.4% to 68.7% during the week of 31 March through 6 April. ADR rose 1.5% to $130.79 and RevPAR increased 1.9% to $89.90.