This week in Hospitality & Tourism #41 2022

  • PwC UK Survey Shows Consumers Sentiment Falls Again, but the Speed of Decline Slows Slightly

    Consumer sentiment falls again as the cost of living crisis bites. It’s no surprise, but could it have been worse? Despite cutbacks across the board as all demographic and socioeconomic groups feel the pinch, the decline in confidence slows slightly, as the energy price cap brings mild relief. With many challenges remaining for businesses and consumers, where are the glimmers of hope?

  • Business Travel Continues Bouncing Back with a Strong Outlook for 2023, According to New Industry Poll from GBTA

    Bookings and spending continue to recover, international travel narrows the gap on domestic travel, economic concerns eclipse COVID-19, even as higher expectations prevail for 2023.

    • On average, travel managers estimate their company’s domestic business travel volume is back to 63% and international business travel is back to 50% of their 2019 pre-pandemic levels. In addition, 26% of respondents estimate their international business travel volume has recovered to more than 70% of their company’s pre-pandemic levels.
  • STR: U.S. hotel results for week ending 8 October

    U.S. hotel performance increased from the previous week but produced mixed comparisons with 2019, according to STR‘s latest data through 8 October.

    While weekday performance showed an expected decline due to Yom Kippur, school breaks and the extended holiday weekend helped lift levels on Friday and Saturday. Performance levels in Florida were also lifted by post-Hurricane Ian demand.

    • Among the Top 25 Markets, Orlando reported the highest occupancy increase over 2019 (+1.9% to 73.6%).
    • San Diego reported the largest ADR gain over 2019 (+39.3% to US$216.93).
    • San Francisco was the only market to post an ADR drop (-17.7% to US$227.56).
    • The steepest RevPAR declines were in San Francisco (-32.5% to US$162.40) and Minneapolis (-14.5% to US$84.46).

    2-8 October 2022 (percentage change from comparable week in 2019):

    • Occupancy: 68.2% (-3.5%)
    • Average daily rate (ADR): US$153.79 (+16.9%)
    • Revenue per available room (RevPAR): US$104.83 (+12.8%)
    STR Occupancy Data