“Year-end data displays the significant variance in recovery by region, stemming from different levels of pandemic restrictions around the world,” said Robin Rossmann, managing director at STR. “The Middle East has been a leader in both opening to international arrivals as well as hosting large events, such as Expo 2020, which has driven hotel performance in Dubai. On the other side of the spectrum, there are areas, such as Europe, where recovery has stalled due to the reimplementation of COVID restrictions. As we get further into 2022 and subsequent lockdowns phase out, we expect recovery to resume.”
US$ constant currency, 2021 (percentage change from 2019):
Europe
-
Occupancy: 43.3% (-40.0%)
-
Average daily rate (ADR): US$125.54 (-6.9%)
-
Revenue per available room (RevPAR): US$54.35 (-44.2%)
Asia
-
Occupancy: 48.8% (-28.9%)
-
ADR: US$73.31 (-24.1%)
-
RevPAR: US$35.78 (-46.0%)
Australia & Oceania
-
Occupancy: 47.2% (-36.3%)
-
ADR: US$142.60 (-2.4%)
-
RevPAR: US$67.24 (-37.8%)
Middle East
-
Occupancy: 56.5% (-14.1%)
-
ADR: US$141.16 (-0.3%)
-
RevPAR: US$79.77 (-14.4%)
Africa
-
Occupancy: 40.1% (-34.0%)
-
ADR: US$102.64 (-0.6%)
-
RevPAR: US$41.12 (-34.4%)
North America
-
Occupancy: 56.6% (-14.0%)
-
ADR: US$124.08 (-4.8%)
-
RevPAR: US$70.17 (-18.2%)
South America
-
Occupancy: 40.6% (-30.5%)
-
ADR: US$65.92 (-4.2%)
-
RevPAR: US$26.79 (-33.4%)
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces.
