Friday, March 4, 2016

Hospitality News For The Week Of 3/4/16

Record 23.7 billion Euros spent on hotels in 2015 as transactions reach highest level ever

Investment on future hotel development reached its all time highest point in 2015. This is according to the European Hotel Transaction Report recently published by HVS. 23.7 billion Euros was spent by investors who were impressed by continued growth in revenue per available room on the continent. The United Kingdom leads the way, accounting for 48 percent of the growth in 2015. Full Story Here:


U.S. Travelers Willing To Spend A Little More On Domestic Hotel Rooms has released the results of their latest Hotel Price Index (HPI) which indicated that the focus of American travel in 2015 was largely on domestic destinations. This is despite increases in prices paid for accommodations in many locations. The most popular destination in America was Las Vegas, with visitors continuing to flock there. In North America hotel prices rose by 3 percent, leading all worldwide markets. Full Story Here:


STR: US hotel results for week ending 27 February 

Hotel industrywide occupancy in the U.S. was almost flat for the week of 21-27 February 2016, as compared to the same time period last year. Occupancy was down by -0.2 percent to 64.2 percent for the week. Average daily rate was up 3.3 percent to reach $119.50. Revenue per available room climbed 3.1 percent to attain $76.76 by week’s end. Full Story Here:


Small hotels get more direct bookings: research 

According to a study of small lodgings (under 40 rooms) by Little Hotelier, direct phone calls, emails, and walk-ins account for at least one third of all reservations at small hotels. The study points out the diversified sources which make up the hotel bookings taken by smaller hotel properties. Online travel agencies and direct hotel websites make up the remaining two thirds of the total bookings for small hotels. Full Story Here:


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