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 […]
Finance and Development, Markets
August 24, 2023
Via: Hotel News ResourceThe World Travel & Tourism Council (WTTC), together with WTTC members ForwardKeys and Mabrian Technologies, today unveiled new insights into the strong expansion of the U.S. Travel & Tourism sector. According to WTTC’s Travel & Tourism Economic Impact 2023 Global […]
Finance and Development, Markets
August 21, 2023
Via: Hotel News ResourceThe U.S. hotel industry reported mixed performance results month over month, according to July 2023 from CoStar. July 2023 (percentage change from July 2022): Occupancy: 69.1% (-0.5%) Average daily rate (ADR): US$160.31 (+1.3%) Revenue per available room (RevPAR): US$110.80 (+0.8%) […]
Finance and Development, Markets
August 14, 2023
Via: Hotel News ResourceSingapore Firms Are Investing In Timor Leste’s Hospitality Sector Singapore-owned businesses are investing millions in Timor-Leste’s leisure and hospitality sectors such as five-star hotels, serviced apartments, and an entertainment centre. For instance, Pelican Paradise Resort (“hotel”), a five-star hotel, part […]
Finance and Development, Markets
August 8, 2023
Via: Hotel News ResourceThe World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals Germany’s Travel & Tourism sector is recovering at pace to recover to within 95% of pre-pandemic levels. The sector is set to contribute €355BN to the […]
Finance and Development, Markets
July 24, 2023
Via: Hotel News ResourceGlobal occupancy (excluding the U.S) reached another post-pandemic high of 72.4%, 1.5 ppts higher than the previous high achieved a week ago. The week’s occupancy was 5.7ppts higher than the level seen a year ago. ADR increased 9.3% YoY to […]
Finance and Development, Markets
July 14, 2023
Via: Hotel News ResourceUK Market Spotlight Monthly Trends: United Kingdom Hotel Market Performance (Year to Date 2023 vs Year to Date 2022 & 2019) In the latest updates on the regional market performance of the hotel industry in the United Kingdom, we share […]
Finance and Development, Markets
July 13, 2023
Via: Hotel News ResourceThe World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Portuguese Travel & Tourism sector is projected to exceed the 2019 peak this year. According to the report, the sector is set to contribute €40.4 […]
Finance and Development, Markets
July 11, 2023
Via: Hotel News ResourcePan Pacific Hotels Group Sold PARKROYAL on Kitchener Road in Singapore for SGD525million Singapore-based Pan Pacific Hotels Group sold PARKROYAL on Kitchener Road in Singapore to Singapore-based Midtown Properties Pte. Ltd., who is part of Worldwide Hotels Group, at SGD525million. […]
Finance and Development, Markets
June 29, 2023
Via: Hotel News ResourceU.S. hotel performance remained mostly flat from the previous week, and year-over-year comparisons remained mixed, according to STR‘s latest data through 24 June. 18-24 June 2023 (percentage change from comparable week in 2022): Occupancy: 71.4% (-1.0%) Average daily rate (ADR): […]
Finance and Development, Markets
June 2, 2023
Via: Hotel News ResourceAs expected ahead of Memorial Day, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through 27 May. Year-over-year comparisons were improved. 21-27 May 2023 (percentage change from comparable week in 2022): Occupancy: 66.8% (+0.6%) Average […]
Finance and Development, Markets
May 26, 2023
Via: Hotel News ResourceCanada’s hotel revenue per available room (RevPAR) came in above CAD100 for the third consecutive month, according to STR’s April 2023 data. April 2023 (year-over-year percentage change) Occupancy: 62.7% (+9.3%) Average daily rate (ADR): CAD178.80 (+14.8%) Revenue per available room […]
Finance and Development, Markets
May 19, 2023
Via: Hotel News ResourceU.S. hotel performance for April 2023 produced mix year-over-year comparisons, according to STR. April 2023 (percentage change from April 2022): Occupancy: 64.4% (-1.4%) Average daily rate (ADR): US$155.77 (+3.4%) Revenue per available room (RevPAR): US$100.39 (+1.9%) Among the Top 25 […]
Finance and Development, Markets
May 18, 2023
Via: Hotel News ResourceU.S. weekly hotel performance produced mixed year-over-year comparisons, according to STR‘s latest data through 13 May. 7-13 May 2023 (percentage change from comparable week in 2022): Occupancy: 65.1% (-2.0%) Average daily rate (ADR): US$154.90 (+3.4%) Revenue per available room (RevPAR): […]