Finance and Development, Markets
March 13, 2024
Via: Hotel News ResourceThe travel and tourism sector witnessed the announcement of 93 deals* globally during the first two months of 2024, an year-on-year (YoY) decline of 22.5% compared to the announcement of 120 deals during the same period in 2023, reveals GlobalData. […]
Finance and Development, Markets
March 12, 2024
Via: Hotel News ResourceA series of events pushed all-time high occupancy levels in Dubai, according to February preliminary data from CoStar. February 2024 (year-over-year % change): Occupancy: 90.8% (+3.4%) Average daily rate (ADR): AED887.06 (+9.3%) Revenue per available room (RevPAR): AED805.21 (+13.1%) Read […]
Finance and Development, Markets
March 4, 2024
Via: Hotel News ResourceTop-Line Metrics (January 2024, percentage change from January 2023): Occupancy: 51.9% (-1.7%) Average daily rate (ADR): $146.33 (+2.7%) Revenue per available room (RevPAR): $75.99 (+0.9%) Key points January produced modest RevPAR growth, reflecting the continued return to pre-COVID patterns of […]
Finance and Development, Markets
February 27, 2024
Via: Hotel News ResourceWhile global hotel revenue per available room (RevPAR) remains elevated, surpassing 2019 levels by 11.7% through the first eleven months of 2023, performance has begun to normalize as some leisure travel contracts. Stabilization has weighed heaviest in resort markets, predominantly […]
Finance and Development, Markets
February 13, 2024
Via: Hospitality DesignA new report from the American Hotel & Lodging Association (AHLA) found that 72 percent of the 2,202 U.S. adults surveyed plan to maintain or increase their number of hotel stays in 2024 compared to 2023. The survey found that […]
Finance and Development, Markets
February 12, 2024
Via: Hotel News ResourceElevate the guest experience For hotels, it’s more important than ever to offer experiences that meet guests’ evolving expectations. Achieve exceptional client experiences by enhancing your customer journey, actively pursue and promote sustainability initiatives, deliver seamless customer experiences, and consider […]
Finance and Development, Markets
February 8, 2024
Via: Hotel News ResourceU.S. hotel performance decreased slightly from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 3 February. 28 January through 3 February 2024 (percentage change from comparable week in 2023): Occupancy: 55.2% (-0.1%) Average daily […]
Finance and Development, Markets
November 20, 2023
Via: Hotel News ResourceSTR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. For 2023, growth in RevPAR was raised by 0.3 percentage points, due […]
Finance and Development, Markets
November 10, 2023
Via: Hotel News ResourceA total of 621 deals* were announced in the travel and tourism sector globally during January-October 2023, which was a decline of 31.8% compared to the announcement of 911 deals during the same period in the previous year, finds GlobalData. […]
Finance and Development, Markets
November 1, 2023
Via: Hotel News ResourceSaudi Arabia Sovereign Wealth Fund PIF to acquire 49% stake in Rocco Forte Hotels Saudi Arabia’s Public Investment Fund (PIF) is close to acquiring a 49% stake in Rocco Forte Hotels, valuing the stake at approximately €1.5 billion. Sir Rocco […]
Finance and Development, Markets
October 24, 2023
Via: Hotel News ResourceGruppo Statuto acquires Six Senses Rome from Orion Capital Italian investor Gruppo Statuto has acquired the ultra-luxury, 96-room Six Senses Rome for a reported €245 million (€2.6 million per room), from London-based real estate investment manager Orion Capital. The trophy […]
Finance and Development, Markets
October 19, 2023
Via: Hotel News ResourceDespite current economic headwinds and constraints on airline seat availability, hotel performance in Asia Pacific has continued to improve in 2023. The recovery continues to be largely driven by domestic demand, although the return of mainland Chinese tourists at the […]
Finance and Development, Markets
October 12, 2023
Via: Hotel News ResourceWith the summer travel surge concluded, London’s hotel industry showed more normalized levels of growth, according to preliminary September 2023 data from CoStar. September 2023 (year-over-year % change): Occupancy: 84.3% (+3.1%) Average daily rate (ADR): GBP208.51 (+2.6%) Revenue per available […]
Finance and Development, Markets
September 28, 2023
Via: Hotel News ResourceBlackstone acquires the Cascade Wellness Resort in Lagos, Portugal, from Fliptrel Blackstone, through its Luxembourg-based subsidiary Magma Pledgeco, has acquired the five-star, 164-room (including apartments) Cascade Wellness Resort in Portugal from Fliptrel Portugal, for a reported €50 million (€305,000 per […]
Finance and Development, Markets
September 15, 2023
Via: Hotel News ResourceHelped by the FIFA Women’s World Cup, Sydney’s hotel industry recorded its highest monthly performance levels since March 2023, according to preliminary August 2023 data from CoStar. August 2023 (year-over-year % change): Occupancy: 80.7% (+26.0%) Average daily rate (ADR): AUD261.83 […]
Finance and Development, Markets
September 14, 2023
Via: Hotel News ResourceContinuing seasonal patterns, U.S. hotel performance showed mixed results from the previous week, according to CoStar’s latest data through 9 September. 3-9 September 2023 (percentage change from comparable week in 2022): Occupancy: 60.3% (-1.9%) Average daily rate (ADR): US$150.66 (+1.8%) […]
Finance and Development, Markets
September 13, 2023
Via: Hotel News ResourceIndia’s outbound travel sector has experienced significant growth in recent years. The number of Indian travelers heading abroad reached approximately 27 million in 2019, growing at a CAGR of ~ 9% during 2011-19. Although the pandemic temporarily clipped the wings […]
Finance and Development, Markets
September 8, 2023
Via: Hotel News ResourceFollowing seasonal patterns, U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 2 September. 27 August through 2 September 2023 (percentage change from comparable week in 2022): […]
Finance and Development, Markets
September 5, 2023
Via: Hotel News ResourcePricing Power Lags 2019 While Labor Costs Increase A presentation on inflation’s effects on hotel profitability at the 2023 Hotel Data Conference highlighted hotel rates on a real basis are still down compared to 2019 while hotels continue to face […]
Finance and Development, Markets
September 1, 2023
Via: Hotel News ResourceData from SiteMinder, the world’s leading open hotel commerce platform, reveals that hotel bookings for September in Spain are off to their strongest start in five years. SiteMinder’s World Hotel Index shows that hotel bookings in Spain are currently at […]