Friday, May 15, 2015

Hospitality News For The Week Of 5/15/15

Hospitality Industry's First Hackathon Introduced by HFTP at 2015 HITEC
In what will be one of the first such events in the hospitality industry, the upcoming Hospitality Industry Technology Exposition and Conference (HITEC) in Austin, Texas will host a HITEC Hackathon. Prior to the conference up to 100 invited technology developers will take part in a 48 hour competition, each will be given a specific hospitality industry technology problem. The goal of the competition is to further the development of disruptive and innovative hospitality technologies Full Story Here:

US Hotel Occupancy Increases 1.3% To 67% Week Ending May 9th - 2015
Statistics from Smith Travel Research (STR) indicate the U.S. hotel industry had a positive week of 3-9 May 2015, over the same period last year. Occupancy rose by 1.3 percent to reach 67.0 percent. Average daily rate gained 4.8 percent in attaining $120.59. Revenue per available room increased by 6.1 percent ending the week at $80.85. Full Story Here:

Hotel Prices Near Pre-Recession Peak
According to figures released by Moody’s/RCA Commercial Property Prices Indices report, hotel property prices are nearing their pre-recession peak. In the last 12 months, prices have risen by 33 percent. In the first quarter of this year, investment sale prices of U.S. hotel properties increased sharply by 68 percent, reaching $12.9 billion; as reported by Real Capital Analytics. Full Story Here:

Positive Outlook for Summer 2015 Leisure Travel As Older Generations Lead the Charge
A national survey by D.K. Shifflet & Associates indicates that it will be a positive summer for leisure travel this year. Leading this optimism are the older generations of travelers, Traditionalists and Boomers. Boomers report their intention is to increase both the number of travel days and spending by 8 percent. Traditionalists are increasing travel days by 9 percent and spending on travel by a full 10 percent. Younger generations report they will be a bit more travel thrifty this summer. Full Story Here:

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