STR, Inc., the global leader of competitive benchmarking, information services and research for the hotel industry, has begun collecting development activity in the self storage industry.
STR Sector Analysis, LLC and the International Health, Racquet & Sportsclub Association announced they have entered into a strategic partnership to gather, analyze and market data and information about the health club sector in the U.S.
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Hotels in the Asia/Pacific region reported occupancy rose 2.7% to 68.9% in May. ADR increased 2.4% to $96.78 and RevPAR jumped 5.2% to $66.73 when compared to the same month in 2016.
The European hotel industry reported positive year-over-year performance metrics during May 2017. Occupancy rose 3.5% to 75.6%, ADR increased 4.8% to €114.35 ($127.85) and RevPAR jumped 8.5% to €86.47 ($96.68).
The Central/South America region reported occupancy increased 5.2% to 54.1% in May, according to STR. While ADR dropped 1.5% to $95.74, RevPAR rose 3.7% to $51.78 during the month.
In May, the Middle East hotel industry reported occupancy 5.9% to 64.4%, ADR fell 2.5% to $150.47 and RevPAR dropped 8.2% to $96.88. Africa, on the other hand, despite posting a 0.9% occupancy dip to 55.2%, saw a 11.6% ADR increase to $99.20 drive a 10.5% RevPAR increase to $54.76.
A quarterly forecast report from STR and Tourism Economics projects Canada's hotel industry will receive a performance boost in 2017.
The Canadian hotel industry reported positive year-over-year performance results during the week of 11-17 June. Occupancy increased 1% to 74.6%, ADR rose 5.3% to CA$166.18 ($125.31) and RevPAR increased 6.3% to CA$124.02 ($93.52).
During the week of 11-17 June, the U.S. hotel industry reported occupancy fell 0.3% to 74.3%, ADR rose 1.7% to $129.32 and RevPAR increased 1.4% to $96.10.
In May, the U.S. hotel industry saw occupancy increase 1.5% to 67.8%, ADR increase 2% to $126.63 and RevPAR increase 3.6% to $85.85.
A joint study by STR and Google focusing on two major hotel markets shows search engine volumes correlate with increased hotel demand.
The Caribbean/Mexico region reported 13,503 rooms in 82 hotel projects in construction during May 2017, which is a 7% year-over-year increase in the number of rooms under construction.
In May, the Central/South America region reported 29,687 rooms in 184 hotel projects in construction. The rooms total is just a 0.2% year-over-year increase.
The Asia/Pacific region reported 271,915 rooms in 1,189 projects in construction during May 2017, which based on the number of rooms is a 4.3% year-over-year increase.
During the week of 4-10 June, the U.S. hotel industry reported occupancy fell 0.8% to 73%, ADR rose 1.5% to $128.37 and RevPAR increased 0.7% to $93.73.
Canada's hotel industry reported flat occupancy to 73.8% during the week of 4-10 June. ADR increased 5% to 167.45 Canadian dollars ($126.14) and RevPAR increased 5.1% to CA$123.59 ($93.10).
The U.S. reported 191,832 rooms in 1,477 projects in construction in May, which is a 16.4% year-over-year rooms increase.
In May, Europe reported 77,360 rooms in 487 hotel projects in construction, according to STR.
The Middle East reported 93,984 rooms in 302 hotels in construction during May, while Africa reported 30,839 rooms in 171 hotels in construction for the month.
London's hotel market reported occupancy rose 1.7% to 83.1% in May, according to preliminary data. ADR increased 7% to £153.04 ($194.91) and RevPAR rose 8.9% to £127.24 ($162.05).
According to preliminary May data, hotels in Sydney reported occupancy rose 2.4% to 84.6%, ADR increased 7.9% to 215.06 Australian dollars ($161.97) and RevPAR jumped 10.5% to AU$181.92 ($137.01)
Berlin hotels reported occupancy increased 2.1% to 81.4%, according to preliminary May data. ADR rose 5.8% to €105.41 ($117.80) and RevPAR increased 8.1% to €85.79 ($95.87).