Limited Demand Growth Cannot Keep Pace With Modest Supply Increases, According to Hotel Horizons® June 2019 Edition
Occupancy levels at hotels in the Middle East & North Africa surged to 78.2 percent in April, but it was not enough to prevent profit levels falling for an eighth consecutive month, according to the latest data tracking full-service hotels from HotStats.
STR and Tourism Economics revised its 2019 U.S. RevPAR growth projection to 2%, down from 2.3% growth that was projected in February. The 2020 U.S. forecast remains largely unchanged.
U.S. hotel occupancy rose 0.9% to 71.2% during the week of 19-25 May, while ADR increased 2.1% to $133.81 and RevPAR rose 3.1% to $95.22.
During the week of 19-25 May, Canadian hotel occupancy dipped 0.8% to 66.4%, but a 3.3% ADR increase to 167.30 Canadian dollars ($123.55) brought RevPAR up 2.5% to CA$111.02 ($81.99).
It was a good run, but it couldnt last. April was the first month of the year to see a year-over-year decline in profit per room at hotels in the U.S., as a drop across all revenue centers was impacted by rising costs, according to the latest data tracking full-service hotels from HotStats.
Profit per room at hotels in mainland Europe fell for a fifth consecutive month in April
Hotels in the UK suffered their largest margin of year-on-year profit decline since late 2016, as ancillary revenues fell and costs soared in April, according to the latest data tracking full-service hotels from HotStats.
Hotels in the state of Hawaii reached record RevPAR levels in 2018, supported by continued growth in visitation.
Central/South America hotel occupancy dropped 3.2% to 56.6%, and an 18.5% ADR decrease to $98.03 brought RevPAR down 21.1% to $55.48.