Finance and Development, Markets
April 25, 2024
Via: Hotel News ResourceU.S. hotel performance showed mixed results from the previous week, according to CoStar’s latest data through 20 April. 14-20 April 2024 (percentage change from comparable week in 2023): Occupancy: 66.8% (-0.3%) Average daily rate (ADR): US$158.60 (+1.5%) Revenue per available […]
Finance and Development, Real Estate
April 24, 2024
Via: Hotel News ResourceAs seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% […]
April 23, 2024
Via: Hotel News ResourceIf your hotel uses in-house software to manage procurement, leadership may be reluctant to adopt a cloud-based solution – especially if an on-premise system has served you well for many years. This mindset is likely to put your hotel behind […]
Finance and Development, Markets
April 22, 2024
Via: Hotel News Resource2024 reflected an easy comparison to Easter last year and the impact of the solar eclipse. Revenue per available room (RevPAR) rose 5.8% driven by nearly equal gains in occupancy and average daily rate (ADR). However, the growth was not […]
April 22, 2024
Via: Hotel News ResourceThe leading players of Travel & Tourism globally have published a landmark joint report setting out their joint plan to help halt and reverse biodiversity loss. Launched on Earth Day 2024, “Nature Positive Travel & Tourism in Action” is the […]
Finance and Development, Markets
April 18, 2024
Via: Hotel News ResourceTravel and tourism sector witnessed the announcement of 165 deals* globally during the first quarter (Q1) of 2024. This represents a year-on-year (YoY) decline of 14.9% compared to the announcement of 194 deals during the same period last year, according […]
Finance and Development, Financial
April 18, 2024
Via: Hotel News ResourceCash is King. That’s an old expression but it’s also one that still rings true today. Everyone likes cash even if we don’t carry so much with us personally anymore. It’s important to recognize that some people will help themselves […]
April 18, 2024
Via: Hotel News ResourceSearching on Google, consumers expect to find the most reliable information without a second thought. And the search giant continues to take steps to ensure that’s what its users experience, with its most recent changes announced in March — this […]
April 17, 2024
Via: Hotel News ResourceSpring is in the air, but the clock is ticking for travelers to lock in summer travel plans. According to the Expedia Summer Travel Outlook, released today, searches for summer trips are up year-over-year for flights and lodging,1 and the […]
Finance and Development, Real Estate
April 15, 2024
Via: Hotel News ResourceThe Americas is the only world region that showed a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar. March 2024 (% change in comparison with March 2023): Europe In […]
April 11, 2024
Via: Restaurant DiveAI is arguably the hottest technology in the restaurant space, with many operators exploring applications to ease pressure from inflation and rising labor, food, and occupancy costs. “The whole use of AI at restaurants is accelerating,” said Brandon Barton, CEO […]
Finance and Development, Financial
April 10, 2024
Via: Hotel News ResourceAs the travel market continues to evolve, with occupancy levels exhibiting extraordinary growth in most major markets around the world, today’s hoteliers are facing an array of challenges in managing their operations efficiently. From guest experience enhancement to the digitization […]
April 9, 2024
Via: Hotel News ResourceAssociation representatives from the European travel and tourism sector (business and leisure) met in Rhodes, Greece, to sign a landmark declaration promising decisive action towards more sustainable travel and tourism. The joint declaration will serve as a roadmap to foster […]
Finance and Development, Trends
April 9, 2024
Via: Hotel News ResourceIn the hospitality industry, traditional metrics like revenue performance and guest satisfaction have long been the go-to indicators for assessing a hotel’s business health. However, as businesses increasingly acknowledge the vital role of talent in achieving success, talent retention has […]
April 8, 2024
Via: Hotel News ResourceThe World Travel & Tourism Council (WTTC) is projecting a record-breaking year for Travel & Tourism in 2024, with the sector’s global economic contribution set to reach an all-time high of $11.1 trillion. According to the global tourism body’s 2024 […]
Finance and Development, Markets
April 4, 2024
Via: Hotel News ResourceAs expected ahead of the Easter holiday, U.S. hotel performance decreased from the previous week, according to CoStar’s latest data through 30 March. 24-30 March 2024 (percentage change from comparable week in 2023): Occupancy: 62.3% (-5.6%) Average daily rate (ADR): […]
April 3, 2024
Via: Hotel News ResourceIHG Hotels & Resorts announced the signing of voco Seoul Myeongdong in partnership with Gravity Asset Management’s Seoul South Gate Hotel Operations Company and Hotel HDC Co., Ltd. The 576-room property will be rebranded as voco ahead of welcoming guests […]
April 2, 2024
Via: Restaurant DiveDelight Restaurant Group, founded by managing partners Andrew and Richard Krumholz in 2016, previously acquired nearly 100 Wendy’s restaurants in 2021. That year, it grew its presence in Raleigh, North Carolina, after buying 54 units from bankrupt NPC International and […]
April 1, 2024
Via: Hotel News ResourceAnd when it comes to data, there’s no source more important than your Property Management System (PMS). Your PMS is the beating heart of your hotel operations, tracking everything from reservations and check-ins to hotel room rates and billing. But […]
April 1, 2024
Via: Hotel News ResourceWhile the future holds much promise, the rising operational costs pose a significant issue. From labour costs and food prices to energy bills, hotels must find ways to manage expenses and maintain profitability without compromising on quality. Given the current […]