HENDERSONVILLE, Tennessee—The U.S. hotel industry is projected to end 2010 with decreases in two of the three key performance measurements, according to STR’s monthly forecast update.
STR projects 2010 occupancy to be flat at 55.1 percent, ADR to decrease 3.2 percent to US$94.39, and revenue per available room to drop 3.2 percent to US$51.99.
Supply growth and demand growth during 2010 are both expected to increase 1.8 percent.
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Tuesday, January 26, 2010
STR Global posts Americas results for Dec. '09, year-end '09
LONDON and HENDERSONVILLE, Tennessee—The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for year-end 2009 and December 2009, according to data compiled by STR and STR Global.
Overall for 2009, the region’s occupancy dropped 8.7 percent to 55.3 percent, average daily rate fell 9.1 percent to US$99.08, and revenue per available room dropped 16.9 percent to US$54.81
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Overall for 2009, the region’s occupancy dropped 8.7 percent to 55.3 percent, average daily rate fell 9.1 percent to US$99.08, and revenue per available room dropped 16.9 percent to US$54.81
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STR Global posts year-end '09, Dec. '09 results for Asia/Pacific
LONDON—Hotels in the Asia/Pacific region experienced decreases for all three key performance metrics for year-end 2009 when reported in U.S. dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy fell 6.9 percent to 60.7 percent, average daily rate decreased 13.5 percent to US$119.91, and revenue per available room was down 19.4 percent to US$72.74.
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In year-over-year measurements, the Asia/Pacific region’s occupancy fell 6.9 percent to 60.7 percent, average daily rate decreased 13.5 percent to US$119.91, and revenue per available room was down 19.4 percent to US$72.74.
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STR Global posts year-end '09, Dec. '09 results for Europe
LONDON—The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for year-end 2009, according to data compiled by STR Global.
Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains, depending on the market and the currency used for comparison.
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Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains, depending on the market and the currency used for comparison.
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STR Global posts Middle East/Africa Dec. '09, year-end '09 results
LONDON—The Middle East/Africa region reported year-end decreases in all three key measurements when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy in 2009 dropped 10.9 percent to 62.0 percent; average daily rate decreased 2.7 percent to US$153.91; and revenue per available room decreased 13.3 percent to US$95.44.
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The region’s occupancy in 2009 dropped 10.9 percent to 62.0 percent; average daily rate decreased 2.7 percent to US$153.91; and revenue per available room decreased 13.3 percent to US$95.44.
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STR reports Caribbean and Mexico pipeline for December 2009
HENDERSONVILLE, Tennessee—The Caribbean/Mexico hotel development pipeline includes 127 hotels comprising 17,528 rooms, according to the December 2009 STR Construction Pipeline Report released this week.
Among the countries in the region, Mexico reported the most rooms in the total active pipeline with 10,324. The country also ended the month with the most rooms in the In Construction phase with 4,200. The Bahamas reported 1,698 rooms in the total active pipeline and 895 rooms in the In Construction phase, followed by Puerto Rico with 1,130 rooms in the total active pipeline and 666 rooms in the In Construction phase
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Among the countries in the region, Mexico reported the most rooms in the total active pipeline with 10,324. The country also ended the month with the most rooms in the In Construction phase with 4,200. The Bahamas reported 1,698 rooms in the total active pipeline and 895 rooms in the In Construction phase, followed by Puerto Rico with 1,130 rooms in the total active pipeline and 666 rooms in the In Construction phase
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Hotel chain Starwood warns of possible credit card fraud
Customers who stayed at one of the hotels owned by international hotel conglomerate Starwood within Germany may have been victim to widespread credit card fraud, the company confirmed on Tuesday.
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Bankruptcy judge urges Station Casinos, creditors to negotiate
RENO – After six hours of arguments, a federal bankruptcy judge advised Station Casinos and unsecured creditors to hold negotiations over a $2.3 billion debt, rather than face legal action.
U.S. Bankruptcy Judge Greg Zive withheld a ruling on the petition by the unsecured creditors to be allowed to sue over the arrangement of the 2007 leveraged-buyout deal that took the casino company private.
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U.S. Bankruptcy Judge Greg Zive withheld a ruling on the petition by the unsecured creditors to be allowed to sue over the arrangement of the 2007 leveraged-buyout deal that took the casino company private.
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