e-forecasting.com's U.S. monthly-GDP , rose in August by an annualized month-to-month growth rate of 0.6% to $19,084 billion of chained 2012 dollars expressed at seasonally adjusted annual rates, following an increase of 1.2% in July.
According to preliminary August data, London hotel occupancy dipped 0.3% to 86.7%, ADR rose 4.8% to 151.58 ($188.77) and RevPAR increased 4.5% to 131.39 ($163.62).
Melbourne hotel occupancy declined 2.4% to 81.9% in August, according to preliminary monthly data from STR. ADR increased 0.5% to 180.06 Australian dollars ($123.70) and RevPAR decreased 1.9% to AU$147.47 ($101.31).
CWT M&E, the global meetings and events division of CWT, says the $840 billion industry is poised for an 8% growth in 2020 despite looming geopolitical and economic headwinds, according to its 2020 Future Trends Report, published today.
Hong Kong hotel occupancy nosedived 29.8% to 63.9% in August, preliminary monthly data from STR shows. ADR declined 21% to 1,086.16 Hong Kong dollars ($138.74), which brought RevPAR down 44.6% to HK$694.15 ($88.67).
Dubai hotels saw occupancy dip 0.2% to 68.5% in August, according to preliminary STR data. ADR dropped 12.5% to 389.11 Emirati dirhams ($105.95) and RevPAR fell 12.6% to 266.57 dirhams ($72.59).
Accor accounts for the largest hotel room presence in the Central/South America region, followed by Marriott International, according to census data from STR.
During the week of 1-7 September, U.S. hotel occupancy dipped 1.1% to 61%, ADR declined 1% to $121.37 and RevPAR fell 2.1% to $73.97.
Canadian hotel occupancy decreased 3.6% to 66.1% during the first week of September, and despite a 0.2% ADR increase to 174.67 Canadian dollars ($132.20), RevPAR declined 3.4% to CA$115.39 ($87.33).
Analysts at Lodging Econometrics (LE) report that Europes hotel construction pipeline soared to record high counts in the second quarter of 2019 with 1,704 projects having 260,111 rooms, for a dramatic 23% increase in projects and 19% increase in rooms year-over-year (YOY).