Category: Finance and Development

February 5, 2024

Improvement in group business, especially across the Top 25 Markets and upper-upscale chains, drove growth in U.S. hotel revenues and profits, according to 2023 P&L data from CoStar. 2023 per-available-room metrics (% change from 2022) GOPPAR: US$75.83 (+8.2%) TRevPAR: US$211.49 […]

February 2, 2024

Canadian hotel investment activity totalled approximately $320 million in the fourth quarter, pushing the year-end total to over $1.65 billion based on Colliers Hotels’ preliminary sales data. Investment activity remained resilient year-over-year with established and new entrants to the sector […]

February 1, 2024

U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 27 January. 21-27 January 2024 (percentage change from comparable week in 2023): Occupancy: 56.2% (-0.3%) Average daily rate (ADR): US$149.76 (+5.1%) […]

January 31, 2024

Hotel design impacts every aspect of a traveler’s experience. To get a sense of where hotel design is headed this year, we asked a handful of veteran designers to share what they predict we’ll be seeing in 2024. “Luxury hotels […]

January 30, 2024

Indian Hotels Company (IHCL) announced the signing of a third hotel in Ayodhya, Uttar Pradesh. The brownfield project will be branded as an IHCL SeleQtions hotel. Commenting on the signing, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL […]

January 25, 2024

U.S. hotel performance decreased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 20 January. 4-20 January 2024 (percentage change from comparable week in 2023): Occupancy: 52.2% (-3.8%) Average daily rate (ADR): US$142.27 (+1.6%) […]

January 25, 2024

CBRE Hotels, as sole and exclusive agent for the owner, has been retained to offer for sale the fee-simple interest (with the leasehold interest in the Event Center) in the 187-room Sheraton McKinney. Positioned at the intersection of two prominent […]

January 18, 2024

Recent promotions at Arteriors and Turf Design, two U.S. companies are acquired, and more. Here is this month’s manufacturer news to know: Room & Board obtains B Corp certification Minneapolis-based furniture retailer Room & Board is now a Certified B […]

January 17, 2024

In a joint effort to promote sustainability in the Travel & Tourism sector, the World Travel & Tourism Council (WTTC) and Biosphere have inked a partnership to promote sustainability criteria in the hotel industry under the Hotel Sustainability Basics initiative. […]

January 16, 2024

Best-selling author, Will Guidara, claims “We are entering into a hospitality economy” – suggesting that what underpins the essence of hospitality, (service excellence, human interaction, personalization and the co-creation of memorable experiences), is actually what many sectors of industry are […]

January 11, 2024

U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January. 31 December 2023 through 6 January 2024 (percentage change from comparable week in 2023): Occupancy: 46.8% (-0.7%) Average daily rate […]

January 10, 2024

Although Portland hoteliers’ hopes for 2023 were high due to a more robust convention calendar at the Oregon Convention Center (OCC) and a positive outlook for leisure demand in the summer, the year was challenging for the metro area. The […]

December 28, 2023

STR’s global “bubble chart” update through 16 December 2023 showed 75% of markets with growth in revenue per available room (RevPAR) compared to 2019. Notably, 20 of 25 European countries recorded RevPAR growth in this run-up to the holiday season, […]

December 26, 2023

Queens, New York native Katrina Schultz Richter opened Good Neighbor Queens—a grab-and-go food and sundries shop located inside the Falchi Building in the borough’s Long Island City neighborhood—in 2015. A hospitality veteran, Schultz Richter drew on years of industry experience […]

December 19, 2023

The Hospitality Industry Sentiment (HIS) survey is STR’s global quarterly study covering the experiences and expectations of travel and hotel industry professionals. With the first full year of the HIS survey in the books, several strong patterns have emerged – […]

December 12, 2023

Prioritizing wellness in meetings and conventions is rapidly evolving from a nice-to-have feature to an essential component of creating a productive and positive meeting. Today, meetings and convention planners have an opportunity to enrich their gatherings like never before to […]

December 11, 2023

Food is what connects people. It brings people together without needing any introductions or explanations. It is what sits people from different backgrounds down at the same table and share a sensory moment that creates a memorable experience. For a […]

December 8, 2023

Pantone has announced PANTONE 13-1023 Peach Fuzz, a gentle peach sitting between pink and orange, as the 2024 Pantone Color of the Year. Emanating a warm and inviting aura, Peach Fuzz introduces a fresh new take on softness. With its […]

December 6, 2023

Scenic Mountain Escapes For Brilliant Minds Three new and renovated resorts nestled in three breathtaking mountain regions invite visitors to take in the wonders of the natural world. Montana’s Spanish Peaks, Colorado’s Rocky Mountains and Garden of the Gods and […]

December 5, 2023

Event safety is a touchstone of a successful event. How can your attendees properly network and collaborate if no one feels safe? Over the year, Smart Meetings has covered several ways meeting professionals can ensure attendees feel safe in every […]