According to STR, European hotels recorded positive performance in the first quarter (Q1) of the year, with RevPAR soaring 6.5 percent year-on-year to reach EUR64.06.Furthermore, occupancy jumped 4.1 percent compared to Q1 2016 to 63.5 percent and average daily rate (ADR) increased 2.3 percent to EUR100.94.
According to STR, hoteliers in the Middle East reported a 5.9 percent year-on-year fall in occupancy in May to 64.4 percent, along with a 2.5 percent drop in average daily rate (ADR) to USD159.47 and an 8.2 percent plummet in RevPAR to USD96.88.
Having achieved success in the first quarter (Q1) of this year, Canada’s hotel industry expected to welcome a boost through 2018 according to a forecast report by STR and Tourism Economics.
According to a joint study conducted by STR and Google, a statistically significant relationship between Google search data and the number of room nights sold in London and New York City markets was found.
STR’s May 2017 Pipeline Report unveiled 609,417 rooms in 2,760 hotels under contract in the Asia Pacific region, which represents a 3.8 percent increase in terms of keys under contract compared to May 2016.
According to STR’s May 2017 Pipeline Report, there were 39,434 units in 226 developments under contract in the Caribbean and Mexico, a 39 percent surge in rooms under contract compared to May 2016.
STR’s May 2017 Pipeline Report unveiled 60,167 keys in 385 hotels under contract in Central and South America, a 10.3 percent decline in rooms compared to May 2016.
As revealed by STR’s preliminary data, hoteliers in Hong Kong recorded strong performance in May driven by a 4.8 percent year-on-year boost in demand thanks to a number of international conferences and events including Hofex, among others.
According to STR, the US hotel industry reported a one percent year-on-year decrease in occupancy to 63.9 percent during the week May 28 – June 03.
STR’s May 2017 Pipeline Report revealed that 159,711 keys in 581 hotel projects were under contract in the Middle East, a 3.8 percent year-on-year increase in the number of rooms in the construction or planning stages.