Str News
STR reports decade of growth in global hospitality
Everyday we hear of new hotel openings. But have you ever wondered how many hotels there actually are? On the tenth anniversary of the launch of its international expansion, STR has gone some way to answering the question.
Saudi Arabia pipeline to almost double hospitality sector size
Saudi Arabia has more than 64,000 rooms across the three phases of the hotel development pipeline, according to data from STR. That room total represents 76 per cent of the more than 84,500 existing hotel rooms in the country.
London leads growth in UK serviced apartment sector
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.
AHIF 2017: Africa’s hotel supply projected to grow 11 per cent
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.
STR reports record revenue in US hospitality sector
Results from STR’s Host Almanac 2017 indicate that the Unites States hotel industry revenue and house profit reached all-time highs in 2016. Revenues topped an estimated US$199 billion in 2016, increasing nearly US$9 billion from 2015.
STR records sharp increase in London hotel prices
STR’s preliminary January 2017 data for London, England, indicates sharp performance increases. Based on daily data from January, London reported hotel supply was up 2.8 per cent, while demand was up 8.8 per cent.
Houston hospitality set for major Super Bowl bounce
The Houston hotel industry will see overall performance growth of between 150 and 350 per cent during Super Bowl 51 weekend, according to a projection by STR’s consulting and analytics division.
Falling value of pound boosts North American visitors to UK
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.
STR: Occupancy on the rise in Middle East hotels
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 acquires UK-based hotel data specialist AM:PM
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.
STR reports uptick in European hotel construction
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.
Japanese hospitality benefits from falling value of yen
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.