Category: Finance and Development

July 25, 2024

The U.S. hotel industry reported higher performance results than the previous week and positive comparisons year over year, according to CoStar’s latest data through 20 July. 14-20 July 2024 (percentage change from comparable week in 2023): Occupancy: 73.5% (+1.0%) Average daily […]

July 24, 2024

Hotels have long relied on traditional revenue streams such as room bookings, dining, and spa services. However, in an increasingly competitive market, innovative hoteliers are exploring new ways to boost their bottom line. One often overlooked yet highly lucrative opportunity […]

July 22, 2024

Two of the world regions, the Americas and Asia Pacific, showed a year-over-year increase in hotel pipeline activity at the end of the second quarter, according to June 2024 data from CoStar. June 2024 (% change in comparison with June […]

July 18, 2024

JRK Property Holdings, through its $350 million Hospitality Fund, has acquired the 394-room Hilton La Jolla Torrey Pines in La Jolla, CA from Braemar Hotels & Resorts for $165 million. The resort sits on an 11.4-acre site adjacent to the […]

July 18, 2024

The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. U.S. Hotel Pipeline June 2024 (percentage change from June 2023) In construction: 157,713 rooms (+5.5%) Final Planning: 266,619 rooms (+9.8%) […]

July 16, 2024

Hotel managers like you are constantly seeking innovative ways to maximize revenue and attract more guests, especially in the lucrative group and event sales market. By reimagining spaces and amenities, hotels are discovering new selling techniques that not only fill […]

July 10, 2024

The ‘Love Is In The Air’ Vivid Drone Show and the 71st Sydney Film Festival lifted June hotel performance in the market, according to preliminary data from CoStar. June 2024 (year-over-year % change): Occupancy: 72.6% (+1.0%) Average daily rate (ADR): […]

July 10, 2024

In Germany Demand for holidays is more robust and lively than it has been for a long time. Booking figures are back to pre-corona levels in many places, and even higher in some areas. Neither higher end prices nor international […]

July 9, 2024

Sotherly Hotels Inc. (NASDAQ: SOHO) today announced that the Company has executed a secured loan with Fifth Third Bank, collateralized by the DoubleTree by Hilton Jacksonville Riverfront hotel in Jacksonville, FL. The loan, which carries a floating interest rate based […]

July 8, 2024

The old saying “a bird in the hand is worth two in a bush” is a valuable lesson for us all. It simply means you should stick with the modest prize you’ve already secured instead of chasing what you might […]

July 3, 2024

Today, HOTREC released its 2024 Hotel Distribution Study which examines recent developments and trends in the European accommodation sector, and uncovers the way consumers book hotel rooms. The main findings confirm the need for proper implementation of the Digital Markets […]

July 1, 2024

As the Asia Pacific region continues to be the growth engine for luxury travel, a new comprehensive report from the Luxury Group by Marriott International has identified new expectations and travel preferences among high-net-worth (HNW) travelers in Asia Pacific. Across […]

June 26, 2024

So much in revenue management is governed by supply and demand. And in fixed-capacity scenarios like those of the hospitality industry, demand is all-important. This much is obvious, as is the fact that demand fluctuates seasonally: operate a ski lodge […]

June 20, 2024

According to Phocuswright’s report The State of Travel Funding 2023, there has been a cooling in the last couple of years. Data has shown travel funding totaled $4.6 billion in 2023, a drop from $12 billion in 2022. And 2024 is off to […]

June 18, 2024

With the addition of Curated Hybrid Sites added to Vizergy’s website template options, we want to shed some light on useful design trends and how to utilize them to get your customers excited and convert! Never Forget Your Story — What […]

June 17, 2024

Travel and tourism sector witnessed 10.9% year-on-year (YoY) decline in the number of deals (mergers and acquisitions (M&A), private equity (PE) and venture financing) announced globally during January-May 2024. Despite this downturn, PE deals showed improvement, and European markets showed […]

June 14, 2024

Washington State University’s Carson College of Business released a new report with insights into Americans’ upcoming travel plans, including motivations, budgeting habits and considerations surrounding sustainability and AI. One of the top findings in the report reveals nearly all members of Gen […]

June 13, 2024

The U.S. hotel industry reported higher performance results from the previous week but mixed comparisons year over year, according to CoStar’s latest data through 8 June. 2-8 June 2024 (percentage change from comparable week in 2023): Occupancy: 69.1% (-0.1%) Average daily […]

June 12, 2024

Tokyo’s hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR) in May, according to preliminary data from CoStar. May 2024 (year-over-year % change): Occupancy: 78.4% (+4.2%) ADR: JPY 37,671.27 (+44.0%) RevPAR: JPY 29,529.07 (+50.0%) According […]

June 11, 2024

There used to be a time when hotel revenue managers simply had to look at predicted demand and keep an eye on competitors’ rates to optimize pricing. When travelers booked a hotel room, they had no way of knowing the […]