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 […]
April 19, 2024
Via: Hospitality DesignTrailborn—a new hospitality brand rooted in and inspired by the great American outdoors—will launch its second property this July. Set to debut in downtown Highlands, North Carolina, the forthcoming property follows the December 2023 opening of Trailborn Rocky Mountains (a […]
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 12, 2024
Via: Hotel News ResourceFollowing a robust 2023 where Hilton achieved its largest development pipeline in company history and opened a company record of 24,000 rooms across 132 hotels in the last quarter of the year, Hilton is well-positioned for further growth in 2024. […]
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 5, 2024
Via: Hospitality DesignChef José Andrés calls for action following strike that killed aid workers, HDAC announces its 2024 Awards of Excellence honoree, and a technology museum is planned in Xi’an. All that and more in this week’s Five on Friday. Italian architect […]
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 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 […]
March 29, 2024
Via: Hospitality DesignThe George Hotel has opened its doors within Georgetown, South Carolina’s historic district. Developed and owned by Winyah Hospitality and operated by the Indigo Road Hospitality Group, the waterfront property features 56 guestrooms and suites alongside a full-service restaurant, bar, […]
Finance and Development, Financial
March 28, 2024
Via: Hotel News ResourceThe Savoie and Haute-Savoie regions alone have seen hotel transaction volumes double over the past two years, breaking records with more than €800 million ($875 million) of hotel deals closed, JLL data shows. “Due to the warming climate, and limited […]
Finance and Development, Markets
March 27, 2024
Via: Hotel News ResourceTop-Line Metrics (February 2024, percentage change from February 2023): Occupancy: 58.9% (-1.8%) Average daily rate (ADR): US$158.23 (+3.9%) Revenue per available room (RevPAR): US$93.19 (+2.0%) Key points February produced modest RevPAR growth, reflecting the continued return to low single-digit gains. […]
March 26, 2024
Via: Hotel News ResourceWhen it comes to hotel development across Africa in 2024, just five words tell the story, “Egypt and the Big 5”. In this context, “the Big 5” does not refer to Africa’s major wildlife attractions, (lion, leopard, rhinoceros, elephant and […]
March 25, 2024
Via: Hospitality DesignGlobal hospitality company Aman is bringing a new destination to the United Arab Emirates (UAE). Aman Dubai will occupy a shoreline property with an expansive private beach and nine acres of gardens. Along with an all-suite hotel, it will feature […]
Finance and Development, Markets
March 22, 2024
Via: Hotel News ResourceSTR’s global “bubble chart” update as of 9 March 2024 shows that 77% of markets increased revenue per available room (RevPAR) from the comparable period in 2023, which was 4% more than the last update. Occupancy and average daily rate […]