Industry News

Hospitality & Travel Industry News

 STR: March U.S. Hotel Occupancy Tops 50 Percent
(4/21/2021)
 
   

Business Travel News

U.S. hotel occupancy and revenue per available room in March were the highest reported for any month since February 2020, and the March 2021 average daily rate was the highest since March 2020, according to STR. 

Occupancy reached 54.6 percent for March, ADR was $106.08, and RevPAR was $57.87, according to STR. Instead of showing the year-over-year change, STR provided comparisons to 2019 data because of the Covid-19 pandemic's effect on March 2020 data. Compared with March 2019, March 2021 occupancy was down 20 percent, ADR was off by 19.7 percent, and RevPAR declined 35.8 percent.

Click here for more.


 Update on STR’s data integration with CoStar Group
(3/31/2021)
 
   
From Amanda Hite, President, STR

Over this past year, STR and CoStar Group have ramped up work to deliver to the industry a new, integrated solution that will shape the hospitality data and analytics landscape for decades to come. There is much work to be done before we reach a point of integration that will affect the larger portion of our clients and partners, but in the meantime, I am pleased to announce a key milestone that will set the foundation for later phases of our new solution.
 
In the coming days, census records and monthly market data for the U.S., U.K. and Canada will be released in the CoStar Suite and become accessible to CoStar’s commercial real estate clients as well as a small number of clients that were both STR and CoStar subscribers. Additionally, within the CoStar platform, we have introduced a weighted submarket methodology which is another cut of aggregated industry performance data weighted to a selected group of properties. This is different from the STR Trend report and Comp Set methodologies, which build off individual property data. We created this methodology to provide more granular performance insights within the platform while ensuring data for individual properties, brands and parent companies will remain 100% protected per STR’s confidentiality guidelines.

Overall, the data set in this phase represents a tiny fraction of STR’s offerings—current and future—but an initial launch was a necessary first step as we work toward migration of benchmarking clients and additional data sets over the next year. Until that point, the only difference many of you may experience is with enhanced hotel census and pipeline records. 

I understand you may be anxious to learn more about future phases of our integration and when you will be in this new platform accessing STR data and analytics alongside CoStar’s commercial real estate data. Rest assured we will be in touch well before any changes would be made. In the meantime, feel free to connect with your STR representative. We will do our best to answer your questions. 

Visit https://str.com/ for more.


 AHLA's State of the Industry Report
(3/1/2021)
 
   
AHLA's State of the Industry Report outlines the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry’s recovery, the specific impact on and eventual return of business travel, and consumer travel sentiments.

In 2021, many challenges remain for hotels. Despite obstacles, hotels across the country are resilient and focused on creating an environment ready for guests when travel begins to return in 2021.  View the report.

 2021 Social Media Trends you need to know
(3/1/2021)
 
   
Statista reports a 21% increase in monthly social media usage, no surprise considering how many have spent their time indoors due to the pandemic. The increase shows a way brands need to engage with their customers.  Here is what you need to know. 

 December 2020 Hotel Performance
(3/1/2021)
 
   
STR reports December 2020 performance levels closer to earlier months of the pandemic,  For the full report, visit STR.  

 SIA member, Sea Island, Making Waves
(3/1/2021)
 
   
Georgia's Sea Island is the only resort in the world to receive four Forbes Travel Guide Five-Star honors for 12 consecutive years.  See what Forbes Travel Guide recently had to say about this tucked away island oasis and why you need to visit.   Click here for the full story.

 Happy Birthday to The Breakers!
(3/1/2021)
 
   
On January 16, The Breakers celebrated their 125th birthday! Founded by Henry M. Flagler, the resort first opened its doors on January 16, 1896. Throughout 2021, The Breakers celebrates 125 years - a testament to Flagler's vision, the unwavering commitment of our family ownership and the timeless appeal of Palm Beach.  With an average of $25 million invested annually to preserve our landmark property, The Breakers has prevailed as one of just over 1,000 family-owned businesses in the U.S. that is over 100 years old and still under its original ownership.
To learn more about how The Breakers is celebrating, click here.