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.
STR has highlighted Africa’s key hotel development and performance trends. Based on August 2017 data, Africa currently shows 301 hotel projects in the pipeline, accounting for 57,011 rooms, or 11 per cent of the continent’s existing room supply.
A study by STR and Tourism Economics indicates that the United Kingdom’s tourism and hospitality sectors have benefited from an increase in arrivals from North America, brought on by the devaluation of the British pound following the June EU Referendum.
Hotels in the Middle East reported mixed November 2016 results, while hotels in Africa posted positive results in the three key performance metrics when reported in US dollar constant currency, according to data from STR.
STR has acquired AM:PM, a hotel data and intelligence specialist. “Alan and Morag Gordon have created a real-time, online hotel supply and research tool that enables informed and efficient decision-making for the hotel industry,” said Robin Rossmann, STR international managing director.
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.