Friday, February 5, 2016

Hospitality News For The Week Of 2/5/16

Forecast continued growth through 2017 for U.S. hotels

STR and Tourism Economic have released their first forecast of 2016 for the U.S. hotel industry. Occupancy is expected to rise for the year at 0.6 percent to reach 65.9 percent, according to STR. Average daily rate should climb by 4.4 percent to $125.30. And revenue per available room is projected to increase to $82.60, representing a rise of 5.0 percent. Full Story Here:


Airbnb users spent $2.4 billion on lodging in the U.S. over past year

The alternative lodging site, Airbnb continues its meteoric rise, posing a real threat to the traditional hospitality in key markets. This is according to research analysis by CBRE Hotels. A study was conducted between October 2014 and September 2015, which found that Airbnb generated $2.4 billion in revenue during that period. Over 55 percent of the revenue was generated in only five U.S. cities, representing a sizable piece of the total lodging revenues in New York, Los Angeles, San Francisco, Miami and Boston. Full Story Here:


In 2016, Average Daily Rate Reluctantly Takes the Driver’s Seat According to Updated Lodging Forecast

PwC US has released the results of their updated U.S. lodging forecast. The recent growth in revenue per available room (RevPar) will extend through the year. Economic warning flags aside, RevPar will see an increase of 5.5 percent. Average daily rate (ADR) has struggled amid ever-rising occupancy rates industry wide, puzzling analysts. Occupancy rates are at their highest level since 1981, driven by continued demand. Full Story Here:


STR: US results for wee ending 30 January

All three key performance measurements showed positive numbers industry wide in the U.S. hotel industry, the week of 24-30 January 2016. As measured against the same time period last year, occupancy was up by 2.5 percent, to 57.1 percent. Average daily rate was higher by 2.8 percent, reaching $116.87 for the week. Revenue per available room jumped up 35.5 percent, attaining $66.77 by week’s end. Full Story Here:

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