the source for hotel and hospitality trends
The short-term outlook for London is positive as summer ends and the industry transitions into the typically slower autumn and winter months. Leading bookings in the short-term are Economy class properties, with occupancy as high as 66% over the reporting period.
Absolute occupancy fell slightly from August (60.5%), but the ADR level was the market’s highest since May and the RevPAR level was the highest since June. For context, pre-pandemic comparables from September 2019 were 62.1% occupancy, SAR553.14 ADR and SAR343.47 RevPAR.
The absolute ADR level was the highest in Berlin since March 2020, while RevPAR was the highest since February 2020. Occupancy was slightly lower than a domestic-driven 65.4% in August but was still the market’s second highest level since February 2020.
Hiring momentum in the Indian hospitality industry is improving as several companies resume their hiring plans. However, various issues may make it difficult for them to close the gaps. Read on to know more.
U.S. hotel industry demand retreated in the latest week of reporting (26 September-2 October), failing to align with a rise in TSA security screenings. Normally, we expect an uptick in air passengers to yield an increase in hotel demand. This week was an exception with occupancy slipping 1.5 percentage points to 61.7%.
Among the Top 25 Markets, Phoenix recorded the only occupancy increase over 2019 (+1.8% to 66.0%). The market also recorded the largest RevPAR gain when compared with 2019 (+15.2% to US$88.82).
Queensland’s destinations have seen lower hotel performance amid border closures and the underlying travel uncertainty for key source markets like Sydney, Melbourne, and even international markets like New Zealand and China. The impact of restrictions is also extending to September/October school holidays as shown in comparison with the similar period earlier this year.
The summer travel season, helped by growing vaccination rates around the world, allowed Caribbean hotels to pick up steam in their road to recovery.
With nearly 2,000 registered, the Lodging Conference brought together members of the hospitality industry to discuss the recovery, challenges, and successes of the industry to date. The highlights of the event from those that attended from HVS are summarized here.
America's economic Leading Analytic “rebounded in September, following a decrease of 0.4 percent in August,” said Professor Evangelos Otto Simos, editor-in-chief, at the release of the latest Leading Analytics Warp Digest. The bouncing back in the leading economic barometer “was led by a surge in manufacturers' orders,” Simos added.