Economy has companies still scrimping on travel, survey says – USATODAY.com:
The recession may be over, but business travelers still feel the effects of a sluggish economy, a survey of them released today shows.
By Gary Stoller, USA TODAY
More than a third of 407 business travelers surveyed this month say fewer employees in their companies are allowed to travel to meetings than a year ago, according to the online survey sponsored by Cambria Suites.
About a quarter of survey respondents say more of their business trips have cost-saving daily spending limits than a year ago, and 23% report they are staying less frequently at full-service or luxury hotels.
The survey, conducted by the research arm of the Global Business Travel Association, the trade group representing corporate travel departments, includes only business travelers with full-time jobs and who took at least four business trips of at least 50 miles each in the last 12 months.
Of the respondents, 65% were men and 57% earned less than $100,000 before taxes last year.
More than four of every 10 travelers surveyed report their business travel expense reports are "more closely scrutinized."
Two of every five say they've been encouraged to spend less per day on business trips, and there is greater scrutiny of "outcomes emanating from business trips."
Frequent business traveler Dave Simonson, a computer consultant in Antioch, Tenn., says the sluggish economy has affected his travel spending.
"I always try to find the least expensive way to travel to keep expenses down," he says.
Nancy Walters, president of a marketing and public relations agency, spent more than 100 nights away from home on business this year and notices the economy's effects on travel expenses.
"Gone are the days of luxury business hotel stays and the focus on building reward perks through frequent hotel stays," says Walters of Rancho Bernardo, Calif.
Despite companies' efforts to reduce travel expenses, the travelers surveyed emphasized the importance of business travel.
Nearly eight of 10 agree or strongly agree that business travel helps their companies grow, and face-to-face meetings are necessary for "doing business successfully."
Michael McCormick, the business travel association's executive director, says companies may look to cut travel spending in a challenging economy but shouldn't.
Cutting business travel can hurt "a company's bottom line" and do nothing to help the economy, he says.
Among other survey findings:
•64% say technology has helped their companies save money on business travel, and 83% say they use technology to plan or book business trips. Technology has helped 66% of those surveyed achieve greater productivity, and 73% say technology is equally important in their business and personal lives in enhancing productivity.
•More than half say they've downloaded mobile apps to help them be more productive on business trips.
A third say social media has enhanced their business travel experience by keeping them in touch with personal and professional networks.
•More than half say that a hotel's amenities have a greater effect on their ability to work productively than do those connected with airline flights or rental cars. Free hotel Wi-Fi is an amenity that about 90% say is important.
Monday, August 20, 2012
Monday, June 18, 2012
STR: HOST Study shows improved results in 2011
STR: HOST Study shows improved results in 2011
HENDERSONVILLE, Tennessee—The U.S. hotel industry’s total revenue grew 7.5 percent in 2011 to US$137.5 billion, the largest percent change in the previous 10 years, according to the Hotel Operating Statistics (HOST) Study for 2011, compiled by STR.
According to the HOST Study, Gross Operating Profit (GOP) rested at 36.1 percent in 2011 compared to 35.3 percent in 2010. The industry’s pre-tax income grew 20.0 percent in year-over-year comparisons to US$21.6 billion.
“There is no question that the past few years have been extremely difficult for the hotel industry, and while a number of properties have gone under or are still in deep financial straits, the industry overall continued to bounce back during 2011,” said Randy Smith chairman and co-founder of STR. “This is a remarkable achievement given the difficulties of operating in today's uncertain economic environment.”
Other highlights of the HOST Study:
•Full-service hotels reported an average occupancy of 68.5 percent and an average daily rate of US$153.81 in 2011.
•On average, full-service hotels generated US$240.08 in total revenue per occupied room night, up from US$236.13 in 2010. Full-service, chain-affiliated hotels checked in at US$230.83 per occupied roomnight while independent properties reported US$327.39 per occupied roomnight.
•GOP for full-service properties was 31.5 percent, compared with 29.9 percent in 2010. GOP was approximately US$18,633 per available room and US$75.54 per roomnight.
•Overall in 2011, limited-service hotels recorded an occupancy of 70.0 percent (up from 68.4 percent in 2010) and an ADR of US$89.85 (compared with US$86.82 in 2010).
•Limited-service hotels reported a GOP of 48.8 percent, which was an increase from 48.0 percent in 2010. These hotels generated US$45.28 in GOP per occupied roomnight and US$11,517 per available room.
•Franchise fees in chain-affiliated, limited-service hotels accounted for 3.2 percent of the undistributed operating expenses, which equates to US$2.91 per occupied roomnight.
http://www.hotelnewsnow.com/Articles.aspx/8305/STR-HOST-Study-shows-improved-results-in-2011
HENDERSONVILLE, Tennessee—The U.S. hotel industry’s total revenue grew 7.5 percent in 2011 to US$137.5 billion, the largest percent change in the previous 10 years, according to the Hotel Operating Statistics (HOST) Study for 2011, compiled by STR.
According to the HOST Study, Gross Operating Profit (GOP) rested at 36.1 percent in 2011 compared to 35.3 percent in 2010. The industry’s pre-tax income grew 20.0 percent in year-over-year comparisons to US$21.6 billion.
“There is no question that the past few years have been extremely difficult for the hotel industry, and while a number of properties have gone under or are still in deep financial straits, the industry overall continued to bounce back during 2011,” said Randy Smith chairman and co-founder of STR. “This is a remarkable achievement given the difficulties of operating in today's uncertain economic environment.”
Other highlights of the HOST Study:
•Full-service hotels reported an average occupancy of 68.5 percent and an average daily rate of US$153.81 in 2011.
•On average, full-service hotels generated US$240.08 in total revenue per occupied room night, up from US$236.13 in 2010. Full-service, chain-affiliated hotels checked in at US$230.83 per occupied roomnight while independent properties reported US$327.39 per occupied roomnight.
•GOP for full-service properties was 31.5 percent, compared with 29.9 percent in 2010. GOP was approximately US$18,633 per available room and US$75.54 per roomnight.
•Overall in 2011, limited-service hotels recorded an occupancy of 70.0 percent (up from 68.4 percent in 2010) and an ADR of US$89.85 (compared with US$86.82 in 2010).
•Limited-service hotels reported a GOP of 48.8 percent, which was an increase from 48.0 percent in 2010. These hotels generated US$45.28 in GOP per occupied roomnight and US$11,517 per available room.
•Franchise fees in chain-affiliated, limited-service hotels accounted for 3.2 percent of the undistributed operating expenses, which equates to US$2.91 per occupied roomnight.
http://www.hotelnewsnow.com/Articles.aspx/8305/STR-HOST-Study-shows-improved-results-in-2011
Friday, May 25, 2012
STR reports year-end '10, Dec. '10 data
http://www.hotelnewsnow.com/articles.aspx/4794/STR-reports-year-end-10-Dec-10-data
21 January 2011
HNN Newswire
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Story Highlights•Overall in 2010, the U.S. hotel industry's occupancy increased 5.7%, ADR decreased 0.1%, and RevPAR was up 5.5%.
•During December 2010 the industry reported increases in all three key performance metrics.
•Detroit ended the year with the largest increase in occupancy.
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HENDERSONVILLE, Tennessee—The U.S. hotel industry ended 2010 with mostly positive performance results, according to data compiled by STR.
The industry’s occupancy increased 5.7 percent to 57.6 percent, average daily rate ended the year virtually flat with a 0.1-percent decrease to US$98.08, and revenue per available room was up 5.5 percent to US$56.47.
“2010 will be known as the year of demand recovery,” said Mark Lomanno, STR’s CEO. “For most industry markets and segments, the number of people purchasing hotel rooms approached and in some cases exceeded pre-recession levels. However, for myriad reasons including but not limited to historically low occupancies, late booking patterns and the sluggish return of group business, room rate acceleration did not follow the influx of guests. We look to see this change dramatically in 2011, especially during the second half of the year.”
Among the Top 25 Markets, Detroit, Michigan, experienced the largest occupancy increase, rising 14.2 percent to 54.3 percent, followed by New Orleans, Louisiana (+12.7 percent to 64.7 percent), and Boston, Massachusetts (+10.4 percent to 68.7 percent). Houston, Texas, ended the year virtually flat with a 0.3-percent occupancy decrease to 55.1 percent, reporting the only decrease among the top markets.
New York, New York, achieved the only ADR increase of more than 5 percent, rising 7.5 percent to US$232.29. Three markets posted ADR decreases of more than 5 percent: Tampa-St. Petersburg, Florida (-7.2 percent to US$91.43); Detroit (-5.2 percent to US$74.49); and Phoenix, Arizona (-5.1 percent to US$100.94).
Five top markets experienced double-digit RevPAR increases for the year: New Orleans (+14.7 percent to US$74.92); Boston (+13.0 percent to US$97.19); New York (+12.9 percent to US$187.93); Miami-Hialeah, Florida (+10.9 percent to US$101.19); and Denver, Colorado (+10.5 percent to US$59.25). Houston (-4.2 percent to US$48.78) and Tampa-St. Petersburg (-1.5 percent to US$50.56) experienced the only RevPAR decreases for the year.
December 2010
During December 2010, the industry’s occupancy increased 5.4 percent to end the month at 46.0 percent. ADR was up 1.9 percent to finish the month at US$96.22. RevPAR for the month rose 7.4 percent to finish at US$44.23.
“Results for the month of December saw the continuation of strong demand growth in conjunction with very modest room rate growth,” Lomanno said. “Room rate increases continue to be quite slow as it appears most hoteliers have been unable to accelerate this key component necessary to realize a full recovery.”
Detroit rose 14.5 percent in occupancy to 46.8 percent, reporting the largest increase among the top markets, followed by Orlando, Florida (+11.9 percent to 65.3 percent), and Oahu Island, Hawaii (+11.4 percent to 79.8 percent. Two top markets posted occupancy decreases: New Orleans (-4.6 percent to 50.7 percent) and New York (-2.8 percent to 77.7 percent).
San Francisco/San Mateo, California (+11.0 percent to US$130.52), and Orlando, Florida (+10.2 percent to US$96.44), were the only top markets to report double-digit ADR increases for the month. New Orleans dropped 15.9 percent in ADR to US$101.80, reporting the largest decrease in that metric.
Three markets experienced RevPAR increases of more than 15 percent: Orlando (+23.3 percent to US$63.00); San Francisco/San Mateo (+20.2 percent to US$84.07); and Oahu Island (+18.9 percent to US$133.96). Two markets posted RevPAR decreases for the month: New Orleans (-19.8 percent to US$51.59) and Tampa-St. Petersburg (-4.9 percent to US$37.59).
About STR
STR (www.str.com) provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference (www.Hoteldataconference.com), which will be held 3-4 August 2011 in Nashville, Tennessee.
Media contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
21 January 2011
HNN Newswire
--------------------------------------------------------------------------------
Story Highlights•Overall in 2010, the U.S. hotel industry's occupancy increased 5.7%, ADR decreased 0.1%, and RevPAR was up 5.5%.
•During December 2010 the industry reported increases in all three key performance metrics.
•Detroit ended the year with the largest increase in occupancy.
--------------------------------------------------------------------------------
HENDERSONVILLE, Tennessee—The U.S. hotel industry ended 2010 with mostly positive performance results, according to data compiled by STR.
The industry’s occupancy increased 5.7 percent to 57.6 percent, average daily rate ended the year virtually flat with a 0.1-percent decrease to US$98.08, and revenue per available room was up 5.5 percent to US$56.47.
“2010 will be known as the year of demand recovery,” said Mark Lomanno, STR’s CEO. “For most industry markets and segments, the number of people purchasing hotel rooms approached and in some cases exceeded pre-recession levels. However, for myriad reasons including but not limited to historically low occupancies, late booking patterns and the sluggish return of group business, room rate acceleration did not follow the influx of guests. We look to see this change dramatically in 2011, especially during the second half of the year.”
Among the Top 25 Markets, Detroit, Michigan, experienced the largest occupancy increase, rising 14.2 percent to 54.3 percent, followed by New Orleans, Louisiana (+12.7 percent to 64.7 percent), and Boston, Massachusetts (+10.4 percent to 68.7 percent). Houston, Texas, ended the year virtually flat with a 0.3-percent occupancy decrease to 55.1 percent, reporting the only decrease among the top markets.
New York, New York, achieved the only ADR increase of more than 5 percent, rising 7.5 percent to US$232.29. Three markets posted ADR decreases of more than 5 percent: Tampa-St. Petersburg, Florida (-7.2 percent to US$91.43); Detroit (-5.2 percent to US$74.49); and Phoenix, Arizona (-5.1 percent to US$100.94).
Five top markets experienced double-digit RevPAR increases for the year: New Orleans (+14.7 percent to US$74.92); Boston (+13.0 percent to US$97.19); New York (+12.9 percent to US$187.93); Miami-Hialeah, Florida (+10.9 percent to US$101.19); and Denver, Colorado (+10.5 percent to US$59.25). Houston (-4.2 percent to US$48.78) and Tampa-St. Petersburg (-1.5 percent to US$50.56) experienced the only RevPAR decreases for the year.
December 2010
During December 2010, the industry’s occupancy increased 5.4 percent to end the month at 46.0 percent. ADR was up 1.9 percent to finish the month at US$96.22. RevPAR for the month rose 7.4 percent to finish at US$44.23.
“Results for the month of December saw the continuation of strong demand growth in conjunction with very modest room rate growth,” Lomanno said. “Room rate increases continue to be quite slow as it appears most hoteliers have been unable to accelerate this key component necessary to realize a full recovery.”
Detroit rose 14.5 percent in occupancy to 46.8 percent, reporting the largest increase among the top markets, followed by Orlando, Florida (+11.9 percent to 65.3 percent), and Oahu Island, Hawaii (+11.4 percent to 79.8 percent. Two top markets posted occupancy decreases: New Orleans (-4.6 percent to 50.7 percent) and New York (-2.8 percent to 77.7 percent).
San Francisco/San Mateo, California (+11.0 percent to US$130.52), and Orlando, Florida (+10.2 percent to US$96.44), were the only top markets to report double-digit ADR increases for the month. New Orleans dropped 15.9 percent in ADR to US$101.80, reporting the largest decrease in that metric.
Three markets experienced RevPAR increases of more than 15 percent: Orlando (+23.3 percent to US$63.00); San Francisco/San Mateo (+20.2 percent to US$84.07); and Oahu Island (+18.9 percent to US$133.96). Two markets posted RevPAR decreases for the month: New Orleans (-19.8 percent to US$51.59) and Tampa-St. Petersburg (-4.9 percent to US$37.59).
About STR
STR (www.str.com) provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference (www.Hoteldataconference.com), which will be held 3-4 August 2011 in Nashville, Tennessee.
Media contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
STR: US hotels report strong results in 2011
STR: US hotels report strong results in 2011
23 January 2012
HNN Newswire
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HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics in 2011, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 4.4 percent to 60.1 percent, its average daily rate was up 3.7 percent to US$101.64 and its revenue per available room increased 8.2 percent to US$61.06.
2011 was the first time since 2008 that the industry ended the year with occupancy of more than 60 percent and an ADR of more than US$100.
The industry reported a 0.6-percent increase in supply in 2011 and a 5.0-percent demand increase for the year. Demand has increased 5.0 percent or more only three times since 1987.
“2011 was a strong year for the U.S. hotel industry,” said Randy Smith, co-founder and chairman at STR. “Room-supply growth continued to drift downward as room demand reached record levels during the year. Though occupancy and ADR were still below 2007 and 2008 levels, it was still encouraging to see the industry experience a solid rebound during a period of considerable economic difficulties.”
“In 2012 the hotel industry will face tough year-over-year comparisons, though we are still optimistic,” Smith continued. “With modest gains in occupancy and stronger increases in room rates, we expect RevPAR to increase about 4.3 percent in 2012.”
Among the Top 25 Markets, Detroit, Michigan, ended the year with the largest occupancy increase, up 10.2 percent to 59.8 percent, followed by Tampa-St. Petersburg, Florida, with a 9.7-percent increase to 60.5 percent. New Orleans, Louisiana, ended the year virtually flat with a 0.4-percent decrease to 64.2 percent.
Two markets ended the year with double-digit ADR increases: San Francisco/San Mateo, California (+13.9 percent to US$155.14), and Oahu Island, Hawaii (+10.0 percent to US$165.05). Atlanta, Georgia (-0.4 percent to US$82.58), and Norfolk-Virginia Beach, Virginia (-0.3 percent to US$84.24) were the only top markets to report ADR decreases in 2011.
San Francisco/San Mateo achieved the largest RevPAR increase, rising 19.7 percent to US$122.54, followed by Nashville (+14.8 percent to US$58.01) and Miami-Hialeah (+14.1 percent to US$115.65). None of the top markets reported RevPAR decreases for the year.
------------------------------------------------------------------------------
Media Contacts:
Jeff Higley
VP, Digital Media & Communication
jeff@str.com
+1 (615) 824 8664 ext. 3318
Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824 8664 ext. 3305
23 January 2012
HNN Newswire
--------------------------------------------------------------------------------
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics in 2011, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 4.4 percent to 60.1 percent, its average daily rate was up 3.7 percent to US$101.64 and its revenue per available room increased 8.2 percent to US$61.06.
2011 was the first time since 2008 that the industry ended the year with occupancy of more than 60 percent and an ADR of more than US$100.
The industry reported a 0.6-percent increase in supply in 2011 and a 5.0-percent demand increase for the year. Demand has increased 5.0 percent or more only three times since 1987.
“2011 was a strong year for the U.S. hotel industry,” said Randy Smith, co-founder and chairman at STR. “Room-supply growth continued to drift downward as room demand reached record levels during the year. Though occupancy and ADR were still below 2007 and 2008 levels, it was still encouraging to see the industry experience a solid rebound during a period of considerable economic difficulties.”
“In 2012 the hotel industry will face tough year-over-year comparisons, though we are still optimistic,” Smith continued. “With modest gains in occupancy and stronger increases in room rates, we expect RevPAR to increase about 4.3 percent in 2012.”
Among the Top 25 Markets, Detroit, Michigan, ended the year with the largest occupancy increase, up 10.2 percent to 59.8 percent, followed by Tampa-St. Petersburg, Florida, with a 9.7-percent increase to 60.5 percent. New Orleans, Louisiana, ended the year virtually flat with a 0.4-percent decrease to 64.2 percent.
Two markets ended the year with double-digit ADR increases: San Francisco/San Mateo, California (+13.9 percent to US$155.14), and Oahu Island, Hawaii (+10.0 percent to US$165.05). Atlanta, Georgia (-0.4 percent to US$82.58), and Norfolk-Virginia Beach, Virginia (-0.3 percent to US$84.24) were the only top markets to report ADR decreases in 2011.
San Francisco/San Mateo achieved the largest RevPAR increase, rising 19.7 percent to US$122.54, followed by Nashville (+14.8 percent to US$58.01) and Miami-Hialeah (+14.1 percent to US$115.65). None of the top markets reported RevPAR decreases for the year.
------------------------------------------------------------------------------
Media Contacts:
Jeff Higley
VP, Digital Media & Communication
jeff@str.com
+1 (615) 824 8664 ext. 3318
Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824 8664 ext. 3305
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