STR: U.S. hotel results for week ending 22 January
U.S. hotel performance remained relatively flat from the previous week, according to STR‘s latest data through 22 January.
16-22 January 2022 (percentage change from comparable week in 2019):
- Occupancy: 48.7% (-15.9%)
- Average daily rate (ADR): US$122.17 (-1.4%)
- Revenue per available room (RevPAR): US$59.52 (-17.1%)
The Los Angeles Market Leads the Hotel Construction Pipeline by Rooms at the end of Q4‘21
Construction pipeline:
- Los Angeles: 120 projects/19,815 rooms.
- New York 121 projects/19,303 rooms.
- Atlanta: 133 rooms/17,593 rooms.
Pushed Back at Height of Pandemic, Hotel Renovations Now Face Supply Chain Delays
Many hotel owners and operators who put off projects amid a demand crisis at the height of the COVID-19 pandemic are now financially able to renovate their properties, but face the same challenges as developers of new projects: higher prices and less availability of materials and construction labor.