STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries.
Among the global regions, Asia saw the only decline in revenue per available room (RevPAR) from 2019, according to 2022 data from STR.
“While most global regions were impacted by omicron in early 2022, top-line performance recovery made big waves in the latter half of the year,” said Robin Rossmann, STR’s managing director. “The industry’s resilience has been underpinned by significant pent-up leisure travel over the summer along with the return of corporate demand, as the nature and length of this business travel has evolved. Unlike previous downturns, room rates have been the key driver of recovery as each of the global regions, excluding Asia, showed an ADR increase over 2019. Though occupancy came in below the pre-pandemic comparables, the metric is anticipated to stabilize throughout 2023. Despite economic headwinds, the industry is operating from a position of strength in the new year.”
US$ constant currency, 2022 (percentage change from 2019):
Australia & Oceania
Great Canadian Entertainment has announced that its $1 billion, brand-new entertainment resort Great Canadian Casino Resort Toronto will open its doors at the intersection of Highways 401 and 427 this summer.
Colliers Hotels has released the 28th edition of its Canadian Hotel Investment Report.
Warwick Le Crystal–Montreal will feature 131 rooms and suites.
Fairmont Banff Springs has officially launched its new collection of Fairmont Gold and Signature Suites.