STR
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):
Europe
Asia
Australia & Oceania
Middle East
Africa
North America
South America
Opal Hospitality has expanded into the U.S. market with acquisition of Four Points by Sheraton Charlotte-Lake Norman, Huntersville, N.C.
Holiday Inn & Suites Parkway Conference Centre, St. Catharines, Ont. held a grand re-opening after its renovations—now double-branded with the addition of Staybridge Suites for extended stays.
FEATURE PROFILE: Feature from the FALL 2024 ISSUE of STAY Magazine
Norwood Hotel by Sparrow Hotels, Winnipeg, Man. has completed renovations to its lobby and banquet areas.