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  • Q3 2019 CBRE Hotels Update

    by Matt Mullen | Nov 18, 2019

    NOW AVAILABLE: CBRE Hotels Q3 Update 



    The CBRE Hotels Q3 Update is now available. This quarterly report presents highlights from the third quarter of 2019 relative to our 2019 Outlooks for major Canadian markets. 

    The report provides a focused look at performance and variances across Eastern and Western Canadian major markets provinces.  The data shows the progress of the Canadian lodging sector relative to the CBRE Hotels 2019 issue of our National Market Report. 

    Click here to view and download the report. 

  • Q3 2019 Hotel Figures

    by Matt Mullen | Oct 29, 2019

    Occupancy Slips for Second Consecutive Quarter

    Hotels-Figures-Web-Graphic


    Overall hotel demand grew by 1.8% year-over-year in Q3 2019, about 0.1% slower than in Q2 but 0.3% better than the rate of a year ago. Supply growth remained at 2.0%.

    Austin had the largest year-over-year demand increase (9.1%). Large gains also occurred in Houston (8.8%) and Denver (8.2%).

    National occupancy decreased 0.1% year-over-year to just over 70%—an improvement from the 0.5% rate of decline in Q3 2018.

    ADR grew by 0.8% year-over-year in Q3, less than the 2.2% rate of a year ago. RevPAR grew by 0.7%, a slower pace than the 1.7% of a year ago and the lowest rate since the current hotel cycle began in Q1 2010.

    33 of the 60 markets tracked by CBRE Hotels’ Americas Research had supply gains of more than 2% year-over-year in Q3, four more than in Q2.

    30 markets had declines in occupancy, the same number as in Q2.

    Louisville had the highest RevPAR gain (10.0%), driven by a nearly even split of occupancy and ADR growth. Tucson (9.4%) and Albuquerque (9.2%) also had high RevPAR gains.

    Of the top 10 markets for RevPAR growth, seven had increases driven primarily by ADR growth; however, all the top 10 RevPAR growth markets had increases in occupancy as well.

    Click here to view and download the full report. 

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