Friday, April 8, 2016

Hospitality News For The Week Of 4/8/16

2016 and Beyond - Official Forecast
The hospitality management and consulting firm, R.A. Rauch & Associates, has published their industry forecast for the coming year and beyond. Average daily rate is predicted to grow by 4.5 percent. The forecast states occupancy should remain flat in 2016 and revenue per available room should rise at the rate of 5 percent, according to the firm. Economic factors driving the current trends include, the election year, low inflation and interest rates, with low unemployment as well. Full Story Here:

Keynote Speakers for HITEC 2016 Announced
The Hospitality Financial and Technology Professionals (HFTP) has announced the keynote speakers for the upcoming Hospitality Industry Technology Exposition and Conference (HITEC). The conference is taking place June 20-23 at the Ernest N. Morial Convention Center in New Orleans, LA. The speakers include Jer Thorpe, co-founder of the Office for Creative Research; Josh Linker, author, founder and former CEO of ePrize; and Johnny Earl, founder of Johnny Cupcakes. Full Story Here:

Hilton HHonors And Marriott Rewards Rank Highest In A Tie In Overall Customer Satisfaction With Hotel Loyalty/Rewards Programs
J.D. Power recently published their 2016 Hotel Loyalty/Rewards Program Satisfaction Report. Measuring customer satisfaction with hotel chain loyalty/reward programs, the rankings came out with a tie at the top. Both Hilton and Marriott rewards came out on top in customer satisfaction, in the report. Rounding out the top five were IHG Rewards, La Quinta Returns, and Best Western Rewards. The report compiled the survey results from over 3,096 hotel customers across the United States who have joined a loyalty program. Full Story Here:

STR: US hotel results for week ending 2 April
According to data from STR, the U.S. hotel industry notched positive figures the week of 27 March until 2 April 2016, when compared to the same time period last year. In 2015 this time frame was Easter week. This year when compared to last year, occupancy climbed by 6.6 percent to reach 66.9 percent by the end of the week. Average daily rate rose by 5.0%, up to $121.96 by week’s end. And revenue per available room was up by 11.9 percent, attaining $81.61 to finish the week. Full Story Here: 

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