Asia Pacific destinations popular with travellers from mainland China continue to report a huge hotel occupancy impact from the coronavirus outbreak, according to preliminary February data from STR.
Hotels in London saw RevPAR growth of 0.9 per cent in quarter four of 2019, to £135.25, when compared with the previous year. However, average occupancy for hotels in the capital dropped back slightly in the final quarter of the decade, to 84.8 per cent.
Trading in quarter three for UK hotels has again showed a considerable contrast between those in London compared with the provinces. That is according to the latest UK hotel market tracker, produced by HVS London, AlixPartners and STR.
CoStar Group has entered into an agreement to acquire STR, a leader in data benchmarking, analytics and marketplace insights for global hospitality sectors. The transaction, valued at $450 million in cash, is expected to close in the fourth quarter of 2019, subject to customary conditions.
Africa has seen strong growth in revenue per available room for a sustained period, according to the latest figures from STR. Speaking at the Africa Hotel Investment Forum, STR director Thomas Emanuel said RevPAR had grown for 87 consecutive months amid a period of low supply growth and strong demand.
RevPAR in the UK’s regional hotels dropped 2.8 per cent in the first three months of 2019, according to research from HVS London, AlixPartners and STR. The fall was in marked contrast to the fortunes of London’s hotels, which saw like-for-like RevPAR increase by 3.6 per cent against the previous year.
Speaking to Breaking Travel News at the Arabian Hotel Investment Conference in Ras al Khaimah, Robin Rossmann, managing director at hospitality analytics firm STR, gives us his opinion on the current state of the Middle Eastern market. Also on the agenda is the launch of new product AM:PM, which offers up to the minute insight into the hotel construction pipeline in the region.
The UK serviced apartment sector posted strong performance growth in 2017, according to ASAP and STR. Based on STR’s year-end performance figures, UK serviced apartments recorded an actual occupancy level of 81.7 per cent, a 0.2 per cent increase over 2016.