The flash monthly estimate of real gross domestic product, monthly˗GDP, visualizes a rise in August to $18,181 billion of chained 2012 dollars, expressed at seasonally adjusted annual rates.
Hotel demand grew to 18 million room nights sold (+500,000 week over week). Saturday (5 September) occupancy came in at 69.0%, just 2.6% less than the comparable Saturday in 2019, and leisure markets that have showed the highest summer occupancy levels reported strong increases from the previous weekend. At the same time, the markets with the highest occupancy for the week were not leisure destinations. Rather, the high occupancy markets were those housing displaced residents from Hurricane Laura and the California wildfires.
According to preliminary monthly data from STR, London hotel occupancy fell 64.4% to 30.7%, ADR dropped 42.9% to £86.40 ($112.02) and RevPAR declined 79.7% to £26.52 ($34.38).
Hotel occupancy in Abu Dhabi, United Arab Emirates, dipped 6.4% to 62.9% in August, according to preliminary monthly data from STR. ADR decreased 3.4% to 307.23 Emirati dirhams ($83.66) and RevPAR fell 9.5% to 193.22 dirhams ($52.61).
Key Largo, Key West and St. Pete Beach are among the fastest recovering U.S. destinations since last year
As value-driven domestic tourists become the knight in shining armor for the Indian hospitality sector in the COVID era, the Midscale hotels segment, which accounted for approximately 43% of the total supply in the country in 2019, is expected to lead the revival of the sector. Read on to know more.
Job openings rose to 6.6 million in July. Hires decreased to 5.8 million. Total separations was little changed at 5.0 million.
U.S. airlines carried 73% fewer scheduled service passengers in July 2020 than in July 2019, according to preliminary data filed with the Bureau of Transportation Statistics (BTS) by 18 airlines that carry more than 90% of the passengers.
Bloody is a great word. Its English and Im Canadian so thats close enough and Im adopting it for this piece. The word is so descriptive, and it immediately conjures up images of battle and of great suffering. Much the same as the annual carnage we refer to as budget season in the hotel business. Its the epic contest between line managers and executives, hotel leadership teams and the brand and hotels and their owners.
HVS compiled the Q2 2020 performance statistics of brands reported by public companies. The data reflect the resiliency of economy, extended-stay brands during the first months of the pandemic.