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U.S. hotel performance declined more severely than anticipated, with the Top 25 Markets and group segments experiencing the most significant impact. Although global occupancy fell, global RevPAR exceeded US$100 for the fifth time this year. More here: https://bit.ly/3zQEKHJ

Of the four world regions, the Americas and Asia Pacific showed year-over-year increases in hotel pipeline activity at the end of the second quarter. Read more: https://bit.ly/46aSclG

The volume of U.S. hotel rooms under construction reached its highest level in 16 months and increased year over year for the fourth consecutive month. Read more: https://bit.ly/4cICz7B

Set on a global stage, Formula 1 spans across multiple continents, with 12 of the 24 races so far this year having taken place on F1’s biggest calendar ever. How did host hotel markets perform and what do bookings look like for upcoming race weekends? Find out here: https://bit.ly/4bKSEIo

As expected, U.S. hotel performance dipped due to the Fourth of July, particularly affecting group demand after a previously strong week. Although global occupancy fell with major markets recording declines, global ADR grew YoY for the 23rd consecutive week. More insights here: https://bit.ly/3W4Hzwf

In less than two weeks, the Republican National Convention kicks off in Milwaukee. A month later, it is Chicago's turn with the Democratic National Convention. See how these "political Super Bowls” have impacted host market hotel performance in previous years: https://bit.ly/3WYSo53

How can hoteliers use CoStar + Benchmark to gain a competitive edge?

🔷Navigate the financial landscape and uncover strategic opportunities by leveraging both historical and forward-looking data.
🔷Access comprehensive data and research that gives you the complete picture of the full commercial market.
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🔷Share critical insights across teams and ensure proprietary data is seen by relevant stakeholders only.

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Wrap up the month by revisiting June's top reads:

📉 STR/TE Market Forecast Assumptions – May 2024: https://bit.ly/4chGvvU
📊 U.S. RevPAR hit a high for the year, largely driven by strong weekday performance from the Top 25 Market.: https://bit.ly/3RMypmO
🏨 Hotel Execs Convert First-Quarter Disappointment to Optimism for the Remainder of the Year: https://bit.ly/3Vrgbct
💹 Tokyo room rates reached a new peak in May: https://bit.ly/3xyKFjP

Euro 2024, Formula One, and Taylor Swift's Eras Tour boosted host market hotel performance in Germany, Spain, and the U.K. More insights from the Europe events and the Juneteenth impact on U.S. performance here: https://bit.ly/4cIAwzN

As a hotelier, you already know that data is power. With access to the expansive CoStar commercial real estate product, however, your insights get a whole lot stronger.

Transform your data into your most valuable asset: https://bit.ly/3L3VAVD

Most global markets continued to stay ahead of 2023 before the arrival of the summer holidays in the northern hemisphere. Read more from our latest “bubble chart” update here: https://bit.ly/3zfxpkt

We're one month away from the , and Paris hotels are showing significant jumps in booking levels, reaching as high as 77.8% on the day of 14 gold medal events. More here: https://bit.ly/4eFDvuU

With CoStar + Benchmark, all the data hoteliers need is now in one place, setting a new industry standard for data visualization, interaction and success.

Drive your strategic decisions with the most comprehensive market analytics and competitive share insights: https://bit.ly/3L3VAVD

U.S. hotel performance was bolstered by the Top 25 Markets for the sixth consecutive week. Weekdays lifted group demand and drove gains across the chain scales. While global occupancy is starting to slow, RevPAR has risen every week since March 2021. Read more:

STR Weekly Insights: 9-15 June 2024 Countries/markets mentioned: United States: Boston, Chicago, Denver, Detroit, Houston, San Francisco; Global: Austria, China, France, Germany, Indonesia, Ireland, Italy, Japan, Netherlands, Poland, Spain, Switzerland, United Kingdom

U.S. RevPAR hit a high for the year, largely driven by strong weekday performance from the Top 25 Markets. Global RevPAR was also up despite occupancy decreasing across the top countries. Read more: https://bit.ly/3L3MWXz

We've recently been on the road in Australia, New York City, the Maldives, Vermont and more. Whether from the stage, at a booth or during a meeting, we always look forward to seeing you.

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As expected, U.S. performance came in lower due to Memorial Day, but the holiday weekend was solid. Outside of the U.S., Spain led key countries with a boost from Taylor Swift’s concerts in Madrid. More insights here:

STR Weekly Insights: 26 May – 1 June 2024 Countries/markets mentioned: United States: Chicago, Dallas, Houston, Las Vegas, New Orleans, New York, Orlando; Global: Germany (Dusseldorf), Spain (Madrid), United Kingdom.

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Just released at - we've downgraded our 2024-25 U.S. hotel forecast. Read more: https://bit.ly/3KwOAjO

STR, TE downgrade U.S. hotel forecast STR and Tourism Economics made significant downward adjustments to the 2024-25 U.S. hotel forecast just released at the 46th Annual NYU International Hospitality Industry Investment Conference. The latest revision reflects lower-than-expected performance thus far in 2024 as well as lessened growth p...

With less than two months until the RNC (Milwaukee) and DNC (Chicago), we took a look at how these quadrennial political traditions have historically impacted host market hotel performance. Our full analysis can be found here: https://bit.ly/3WYSo53

Here are this month's most popular reads you might have missed:

📊Industry experts’ predictions for occupancy and ADR hold steady, even with declining confidence in demand: https://bit.ly/3V0tIq8
🏨Strategic success unveiled: How competitive sets lead hoteliers to informed business decisions: https://bit.ly/3Vj9OYR
💹A deep dive into Japan’s hotel ADR growth trends: https://bit.ly/3R3vGVq
📈What is TRevPAR and why is it important?: https://bit.ly/3wGggjb

As fans gear up for the summer UEFA European Football Championship, so are hotels across Germany, with increased booking levels on and around match dates. More here: https://bit.ly/4bAdgUH

Hotels across Germany are filling up for UEFA Euro 2024 With the summer months fast approaching, sports fans are looking at the 2024 UEFA European Football Championship, which kicks off on Friday, 14 June. Set to take place across multiple locations in Germany, the annual football tournament is expected to affect hotel performance just as much as footbal...

We look forward to seeing everyone in NYC. Amanda Hite will share our revised U.S. forecast, and our team is excited to tell you about the latest enhancements to our Benchmarking solution.

U.S. weekly occupancy hit its highest level this year (67.4%), while RevPAR saw significant YoY growth driven by Upper Upscale hotels. Global occupancy rebounded to 70.5%, led by Ireland (89.3%) with notable gains in Germany and Indonesia. More insights: https://bit.ly/3UWYIap

STR Weekly Insights: 12-18 May 2024 Countries/markets mentioned: United States: Louisville, Charlotte; Global: China, Germany, Indonesia, Ireland, United Kingdom .

More global hotel markets, especially in Asia, grew performance year over year. Most notably, Japan maintained high ADR growth. Read more from our latest “bubble chart” update here: https://bit.ly/3wMYaMj

More Asian countries stay ahead of 2023 levels, Japan maintains significant rate growth The level of global hotel markets with year-over-year growth stayed above 70%. Japan and countries in Southeast Asia drove the growth.

The May Day holiday period brought nearly 295 million domestic tourism trips within China, and drove daily hotel occupancy in the mainland to its highest level of 2024 so far (90.5%). Performance compared to 2023 and 2019, however, was not as impactful. Read more: https://bit.ly/3KaLNNp

A look at Mainland China’s hotel performance during the May Day period The hotel occupancy rate index in Mainland China during this year's holiday was not as impactful compared to both 2019 and 2023.