Canadian hotel occupancy decreased 4.3% to 76.8% during the week of 22-28 September, and despite a 0.3% ADR increase to 177.22 Canadian dollars ($132.82), RevPAR dropped 4% to CA$136.16 ($102.04).
Chain hotels 77% more likely to increase technology investments, while independent counterparts prioritize room renovation
Columbias hospitality industry and overall economy are expected to continue to be spurred by a recent tax incentive, strength of area businesses, and growing tourism.
August marked the 12th consecutive month of profit decline at hotels in the Middle East & North Africa, as profit per room fell by 7.0% year-over-year to $58.06. This is in stark contrast to the last time the region saw positive profit growth, when in August 2018 GOPPAR was up 24.8% over the same time the prior year.
Profit per room at UK hotels increased year-over-year for only the second time this year, but hoteliers will take it. GOPPAR in August increased 0.6% YOY, the first positive growth since it grew 11% YOY in June. The rest of 2019 had been a GOPPAR dud. Hoteliers now hope its the start of a winning streak.
Mainland European hotels generated revenue in August; they just had trouble holding onto it. Despite a 0.9% year-over-year increase in RevPAR, coupled with 0.4% growth in TRevPAR, GOPPAR for the month turned negative, down 0.8% YOY, according to data from HotStats.
Jobless rates were lower in August than a year earlier in 224 of the 389 metropolitan areas, higher in 132, and unchanged in 33. Nonfarm payroll employment was up in 52 metropolitan areas over the year and essentially unchanged in 337.
Any concern over a weakening U.S. economy has not yet infiltrated U.S. hotel industry profits. GOPPAR increased 1.4% year-over year in August, matching RevPAR growth, which also clocked in with a positive 1.4% gain, according to monthly data from HotStats.
On September 25, 2019, a bill was introduced in the House of Representatives that would expressly make hotel resort fees and other mandatory charges illegal.
Lodging Econometrics (LE) recently compiled construction pipeline counts for every country and market around the world. Their analysts state that the total global construction pipeline ascended to a record high of 14,051 projects/2,327,923 rooms, a 9% increase in projects and an 8% increase in rooms year-over-year (YOY). The report summarizes development in 176 countries worldwide.