The October pipeline report from STR shows 153,206 hotel rooms in 1,007 projects are under contract in Europe. The total represents a 14.9 per cent increase in rooms under contract compared with October 2015, suggesting an uptick in confidence in the market.
Japan’s hotel industry has benefitted substantially from the devaluation of the Japanese yen, experiencing four consecutive years of double-digit percentage growth in gross operating profit per available room, according to STR. As reported in STR’s Profitability Review, Japan’s GOPPAR reached JPY12,512.18 in 2015, the country’s highest GOPPAR value since the time of the global financial crisis in 2008.
Rio de Janeiro’s hotel industry saw a substantially larger impact as host of the 2016 Olympics than London in 2012 and Beijing in 2008, according to data from STR. During the month of August, Rio de Janeiro hotels posted a 199.2 per cent surge in average daily rate to BRL1,250.
STR has partnered with the Fiji Hotel & Tourism Association to advance performance growth for the hotel industry in the destination. “We have great expectations for our partnership with the FHTA,” said Jesper Palmqvist, STR area director for the Asia Pacific region.
The National Football League has generated an average impact of US$75 million on hotel room revenue during the past eight seasons, according to a study by STR’s consulting and analytics division. In 2015, the NFL had a net impact of US$77 million on hotel room revenue. For the purposes of its analysis, STR matched every NFL game since 2008 with its respective home city to determine the impact on local hotels.
The U.S. hotel industry experienced positive results in the three key performance metrics during the week of 22-28 July 2012, according to data from STR.
The U.S. hotel industry experienced increases in all three key performance metrics during the week of 18-24 December 2011, according to data from STR.
None of the provinces reported increases in occupancy for the week. Nova Scotia fell 31.3 percent in occupancy to 44.9 percent, followed by New Brunswick (-26.4 percent to 43.5 percent) and Newfoundland (-20.6 percent to 59.7 percent).
The Caribbean/Mexico hotel development pipeline comprises 132 hotels totaling 16,870 rooms, according to the August 2010 STR/TWR/Dodge Construction Pipeline Report released this week.