Benchmarking

STR’s latest 28-day visuals show markets collectively getting closer to their seasonal performance expectations. The leaders and laggards are highlighted in the “bubble” charts below with averages covering the four weeks ending 12 February.

STR’s final 51-chart map of the year shows recent national/regional trends and many states finishing 2021 strong. Further, trend lines for revenue per available room (RevPAR) on a total-room-inventory (TRI) basis provide ample evidence of the hotel industry’s extraordinary rebound, particularly in the second half of the 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.  

Following up on STR’s initial Hurricane Ida analysis from 10 September, a vast majority of hotels in the New Orleans MSA have reopened with improving occupancy levels, especially in the core city center/central business district. This high volume of reopenings was to be expected because most closures were due to short-term power outages rather than property damage. Remaining short-term temporary closures are mostly concentrated in submarkets outside of the city.

These summaries include the following: 

Almost two weeks after Hurricane Ida made landfall, the impact of the storm is becoming clearer. Reports show the latest death toll at more than 130 between the Gulf region and the Northeast, and officials in New Orleans are still advising evacuees to stay away from the affected areas due to continued power outages, road blockages, and disruptions in other essential services.

In the past, STR has received questions regarding average parking space at U.S. hotels. Most of the time, those questions have come from developers looking to support plans that include parking structures.

Hotel competitive sets, commonly known as “comp sets,” are a core element of STR’s performance benchmarking program. Without a comp set, and the marketplace intel that comes along with it, you’re left guessing as to where you can improve the performance of your property or portfolio.

Spring Break 2021 didn’t just dive in, it made a cannonball-sized splash for Florida hotels and other U.S. destinations.

India hotels achieved a 50% occupancy level in February, which was the first time the country eclipsed that monthly mark since the start of the pandemic.