U.S. Hotel Figures Q4 2019

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U.S. Hotel Figures Q4 2019

Hotel Demand & Supply Growth On Par at 2%

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  • Hotel demand grew 2.0% nationally in Q4 2019, about 0.2% more than in Q2 on a year-over-year basis. Supply grew by 2.1%.
  • Denver, boosted by several new hotel developments and rebounding from a 2018 season affected by wildfires, had the largest year-over-year demand increase (9.4%). Large gains also occurred in Austin (8.0%) and Houston (7.2%).
  • National occupancy decreased 0.1% year-over-year to 61.8%.
  • ADR grew by 0.7% year-over-year in Q4. RevPAR also grew by 0.7%, a slower pace than the 2.4% of a year ago but 0.1% higher than the previous quarter.
  • 38 of the 60 markets tracked by CBRE Hotels’ Americas Research had supply gains of more than 2% in Q4, five more than in Q3.
  • 22 markets had declines in occupancy in Q4, eight fewer than in Q3.
  • Albuquerque had the highest RevPAR gain (8.7%), driven by a nearly even split of occupancy and ADR growth. San Francisco (7.4%) and Oahu (7.1%) also had high RevPAR gains.
  • Of the top 10 markets for RevPAR growth, half had increases driven primarily by ADR growth and half by increasing occupancy.

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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.