Midas Hospitality – a leading hotel development, management and investment firm – recently opened the St. Louis region’s first Aloft hotel in the heart of the 200-acre Cortex Innovation Community. The “different by design” Aloft hotel by Marriott is located at 4245 Duncan Ave. and offers 129 tech-forward rooms with two meeting rooms and amenities that include […]
STR data ending with 23 May showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded in April. 17-23 May 2020 (percentage change from comparable week in 2019): Occupancy: 35.4% (-50.2%) Average daily rate (ADR): US$80.92 (-39.7%) Revenue per available room (RevPAR): US$28.67 […]
U.S. hotel gross operating profit per available room fell 116.9% during April 2020, according to the latest monthly P&L data release from STR. In a year-over-year comparison with April 2019, the industry reported the following: GOPPAR: -116.9% to US-$17.98 TRevPAR: -92.9% to US$17.39 EBIDTA PAR: -140.2% to US-$32.30 LPAR (Labor Costs): -72.8% to US$20.80 “Whereas only […]
With new data from the Bureau of Labor Statistics (BLS) showing staggering job loss to the hospitality and leisure industry, the American Hotel & Lodging Association today released a “Roadmap to Recovery,” calling on Congress to prioritize relief for hotel workers and small businesses in the next stimulus package. The April Jobs Report showed the […]
The American Hotel & Lodging Associating (AHLA) conducted a survey of members on May 12-14, 2020 about layoffs, furloughs, and efforts to rehire and retain employees. Below are high-level findings from more than 900 respondents. Nearly 9 out of 10 hotels have laid off or furloughed staff. Only about one third have been able to […]
STR data for 26 April through 2 May 2020 showed slightly higher U.S. hotel occupancy compared with previous weeks, but the same significant level of year-over-year decline in the three key performance metrics. In comparison with the week of 28 April through 4 May 2019, the industry recorded the following: Occupancy: -58.5% to 28.6% Average […]
Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 19-25 April 2020, according to data from STR. In comparison with the week of 21-27 April 2019, the industry recorded the following: Occupancy: -62.2% to 26.0% Average daily rate […]
The American Hotel & Lodging Association (AHLA) released a new report today showing the average small business hotel will require additional funding from SBA loans under the Paycheck Protection Program (PPP) in order to rehire employees or prevent further layoffs and keep their business open. AHLA also sent an urgent letter today to Congress asking […]
As COVID-19 continues to devastate the hotel industry, the American Hotel & Lodging Association (AHLA) released new data today showing that 70 percent of hotel employees have been laid off or furloughed as eight in 10 hotel rooms across the nation remain empty. As this crisis progresses beyond what anyone could have projected, the impact […]
The U.S. hotel industry recorded 214,704 rooms under construction in March 2020, the highest end-of-month total ever reported by STR. The industry’s previous construction peak occurred in December 2007 with 211,694 hotel rooms in construction. That level was slightly surpassed in February 2020 at 211,859 rooms in the final phase of the development pipeline. “The […]
