Friday, November 6, 2015

Hospitality News For The Week Of 11/6/15

Expedia To Acquire HomeAway, Inc.

It was announced that Expedia, Inc. has agreed to acquire alternative accommodations provider, HomeAway, Inc. The deal, which includes all of HomeAway’s brands, is reported to be for $3.9 billion in cash and Expedia common stock. HomeAway, a worldwide leader in vacation rentals, brings 1.2 million properties to the online travel agency. Full Story Here:

 

US Hotel Occupancy Up 1.2% To 62.3% Week Ending October 31st - 2015

The U.S. hotel industry ended the week of 25 - 31 October 2015 higher in all three key performance markers, as compared to the same period last year. Occupancy climbed 1.2 percent to reach 62.3 percent. Average daily rate increased by 5.1 percent, up to $120.46 for the week. Further, revenue per available room was 6.4 percent higher, to end the week at $75.06. Full Story Here:

 

Hotels market to expand at 4.0% CAGR due to exponential growth of travel and tourism industry

The worldwide hotels market, estimated in 2014 to be worth $534 billion, is projected to reach $702.7 by the year 2021. This is according to the “Hotels Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 20121” published by Transparency Market Research. The hotels market, segmented by star ratings ranging between non-rated to 5 stars, features 3 star hotels leading the market with $179.07 billion. These 3 star hotels are forecast to maintain their market dominance in the projections. Unrated hotels are projected to be the fastest growing, reaching $32.8 billion by 2021. Full Story Here:

 

Hoteliers warn of ‘rogue’ sites tricking guests

The two trade associations representing hotels and online travel agencies recently battled it out with words traded back and forth regarding the safety and security of OTA websites. The American Hotel & Lodging Association (AH&LA) reported that OTA’s trick consumers into thinking they are booking directly on hotel websites, when in fact they are not. The trade association cited a report they commissioned by GFK Custom Research. The study found that hotel bookings through OTA’s are often corrupted, inaccurate, or even nonexistent. Full Story Here:

 

 


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