STR has reported weekly numbers for the United States and Canada for the week ending 26 June.
U.S.: The U.S. hotel industry achieved increases in all three key performance measurements for the week ending 26 June, according to data released by STR.
In year-over-year measurements, the industry's occupancy last week increased 6.8 percent to 69.7 percent. Average daily rate rose 1.1 percent to US$98.79. Revenue per available room rose 7.9 percent to US$68.88.
Canada: The Canadian hotel industry reported increases in all three key performance measurements during the week of 20-26 June 2010, according to data released by STR.
In year-over-year measurements, the Canadian hotel industry’s occupancy increased 13.2 percent to 74.6 percent. Average daily rate was up 13.5 percent to CAD$147.36. Revenue per available room for the week rose 28.5 percent to CAD$109.99.
The Baird/STR Hotel Stock Index ended June at 1757, an 8.9-percent decrease for the month and a 9.6-percent increase for year-to-date 2010. The Index ended 2009 at 1603. For the second quarter of 2010, the Index fell 9.7 percent to 1757 after closing the first quarter at 1945.
The data points reflect a historical recharacterization of the Baird/STR Hotel Stock Index that occurred on 1 July 2010.
The Baird/STR Hotel Stock Index was set to equal 1000 on 1 January 2000, as its starting point. The Index reached its peak of 3178 on 5 July 2007. The Index’s lowest point occurred on 6 March 2009, when it dropped to 573.
The advance figure for seasonally adjusted initial unemployment claims increased by 13,000 to 472,000 for the week ending 26 June, according to the U.S. Department of Labor. The four-week moving average was 466,500, up 3,250.
The advance seasonally adjusted insured unemployment rate was unchanged at 3.6 percent for the week ending 19 June.
The upcoming quarterly earnings season should be a good one for hotel companies and their investors, analysts predict.
“I think generally speaking, it seems like hotels and their managers are experiencing a recovery a little faster than we originally anticipated,” said Michelle Chang, a hotel industry analyst for Morningstar.
Case in point: Marriott International on 8 June noted in a news release that “recovery in the lodging sector is continuing, with improvement in both occupancy and average daily rate.” http://investor.shareholder.com/mar/releasedetail.cfm?ReleaseID=477601 Room rates at its company-operated North American properties increased 1 percent during the company’s fifth accounting period, which includes most of May. It marks the first room-rate increase in almost two years for the company.
The number of international tourist arrivals grew 7 percent during the first four months of 2010, according to the UNWTO World Tourism Barometer.
Middle East tourist arrivals increased 33 percent; Asia/Pacific was up 12 percent; Africa grew 7 percent; and the Americas increased 6 percent. Europe posted the poorest result at a gain of 0.3 percent.
The UNWTO is maintaining its forecast of 3-percent to 4-percent growth in international tourist arrivals during 2010.
Compiled by Shawn A. Turner.