Skip to content

Search

Latest Stories

STR report predicts strong weekend performance for Nashville, TN

The Tennessee capitol is the first U.S. market for STR’s new Forward STAR

STR report predicts strong weekend performance for Nashville, TN

WEEKENDS, ESPECIALLY FRIDAYS, are the top occupancy nights in Nashville, Tennessee, according to STR ‘s new Forward STAR. Nashville is the first active U.S. market for Forward STAR, which allows hotels to benchmark future occupancy on the books against the marketplace.

The Tennessee capitol also sees high levels of pickup, showing shorter booking windows are popular in the city, according to the report.


“Nashville currently shows zero nights in December with occupancy on the books of 70 percent or higher,” STR said in the report. “In December 2019, eight such nights actualized. The Groundwater Week Dec. 13 to 15 is pushing these three weekday nights to levels comparable to weekends as thousands of professionals from all sectors of the groundwater industry are expected to participate in the event.”

From Dec. 29 to 30 in Nashville is expected to see under 20 percent occupancy with significant pickup expected once the college football matchup is announced for the Music City Bowl. New Year’s Eve currently is forecast to reach 26.7 percent occupancy while the same night in 2019 came in at 67.8 percent.

“It is fitting that Nashville would be our first Forward STAR market in the U.S. given STR’s close proximity to and history with Music City,” said Amanda Hite, STR’s president. “That relationship aside, this is a win for local hoteliers, who are now able to combine their historical benchmarking reports with directly sourced forward-looking data that will add to strategic discussions around distribution, revenue management and marketing. We are currently servicing 86 Forward STAR areas around the globe with data collection ongoing in seven other North American markets—Austin, Denver, Miami, Minneapolis, Montreal, Oahu and Washington.”

The forward-looking data by STR, powered by Forward STAR, allows hoteliers worldwide to benchmark their occupancy on the books and the pickup against their local markets and competitors for the next one year. The Forward STAR helps hoteliers with information to react and adapt quickly to volatile market conditions, a statement said.

According to a recent report by STR, all the performance metrics of U.S. hotels improved in the first week of November.

More for you

CBRE: US Hotel RevPAR to Grow 1.3 Percent in 2025

CBRE: RevPAR to grow 1.3 percent in 2025

U.S. HOTEL REVPAR is expected to grow 1.3 percent in 2025, supported by urban markets from group and business travel and increased demand for drive-to and regional leisure destinations, according to CBRE. Occupancy is forecast to rise 14 basis points and ADR 1.2 percent year-over-year.

This represents slower growth than CBRE’s February forecast, which projected 2 percent RevPAR growth based on a 21-basis-point increase in occupancy and a 1.6 percent rise in ADR, the commercial real estate and investment firm said.

Keep ReadingShow less
Palette Hotels to Transform DoubleTree by Hilton in Washington, PA

Palette to manage Washington, PA, DoubleTree

Palette’s Expertise in Hospitality Management

SUNRISE GOLD HOSPITALITY recently selected Palette Hotels to manage its 140-room DoubleTree by Hilton Washington Meadow Lands Casino Area in Washington, Pennsylvania. Palette will oversee renovations, including Hilton Connected Rooms technology upgrades, new signage, landscaping, building systems and updates to the lobby, guestrooms, bathrooms, meeting spaces, restaurant, bar and lounge.

Sunrise Gold Hospitality is led by owner Ramesh Pandya, and Palette Hotels by Founder and CEO Richard Lou.

Keep ReadingShow less