Friday, April 3, 2015

Hospitality News For The Week Of 4/3/15

Travel and Tourism in 2015 will grow faster than the global economy

The World Travel & Tourism Council has released its forecast of the impact upon the world’s economy of travel and tourism during 2015. The report indicates strong growth and job creation within this sector of the world’s economy. During 2014 the tourism industry added US $7,580 billion of GDP and provided 277 million jobs worldwide. The report predicts sector GDP growth of 3.7 percent along with sector employment rising at the rate of 2.6 percent. This will amount to a faster growth rate than the rest of the global economy. Full Story Here:


STR: US hotel results for week ending 28 March

Growth continues for the U.S. hotel industry, with positive figures posted again during the week of 22-28 March 2015. STR, Inc. reported that over the same period last year, hotel occupancy was up by 3.6 percent, reaching 69.5 percent. Average daily rate rose 6.3 percent to $121.95 for the week. Revenue per available room climbed 10.1 percent to end the week $84.74. Full Story Here:


U.S. Hotel Rates Soaring, Supply Can’t Meet Demand

Demand for U.S. hotel industry inventory is sky high and the industry barely has enough rooms to keep up. This situation is proving extremely beneficial to an industry hard hit by the recession. Average daily rate, revenue per available, and room revenue are all up drastically during the period from February 2014 to February 2015. ADR was up 4.6 percent, RevPar rose 8.5 percent, and room revenue was up 9.4 percent. These figures essentially bring the industry back to pre-recession numbers. Full Story Here:


[Infographic] What is a Millennial Traveler?

There is much talk in the hospitality industry of the influence of the Millennial generation on hotels. This informative infographic examines this important age demographic and its impact on travel, while offering valuable insight into understanding this important generation. Full Story Here:




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