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
The Path has shared a new interview with Issy Sharp, founder of Four Seasons Hotels and Resorts, speaking about his career and life's work.
Bosa Properties Inc. and the Listel Hospitality Group have announced a partnership for the redevelopment of the Listel Hotel Vancouver, Vancouver, B.C.
Freed Developments has announced its first-ever luxury Freed Hotel and Residences tower in Toronto, Ont.
Ray Gupta, chairman and CEO of Sunray Group Hotels and CFO Capital have arranged the acquisition financing for the Hampton Inn and Suites by Hilton Calgary Airport, Calgary, Alta.