Friday, May 27, 2016

Hospitality News For The Week Of 5/27/16

 5 Things To Know About U.S. April Performance Data


STR, Inc. published an infographic explaining the important takeaways from their summary of April’s U.S. hotel industry performance figures. Revenue per available room was 5 percent higher. An industry first was reached by selling over 100 million room nights in any April, ending with an occupancy rate of 68.1 percent. After seeing five straight months of decline, group occupancies were up 7.6 percent. In the top 25 markets, RevPar climbed 3.8 percent. The year to date RevPar growth is the lowest since 2010 when the recovery started. Full Story Here:


U.S. Hotel Revenue - growth is slowing


CBRE Hotels’ Americas Research released the results of their 2016 trends report, which states growth in the U.S. hotel industry is slowing. In the year 2014 - 2015, expenses for hotel operators increased 4.7 percent, while total operating revenue grew by only 5.3 percent. CBRE reports that average daily rate and profits have reached the top of the current business cycle. Full Story Here:


Hotel CEOs upbeat about 2016 despite outside pessimism


Despite the recent hospitality industry downgrade by Wall Street, hoteliers remain optimistic for the remainder of 2016. Earnings calls from many major hotel companies reported that the expectation is positive after an acknowledged rough first quarter. Most companies project growth rates to remain near their earlier projections, with continued growth in revenue per available room. Bank of America Merrill Lynch had recently downgraded the industry based on the opinion of experts proclaiming the end of the lodging cycle. Full Story Here:


US Hotel Occupancy Down 0.9 Percent To 70.7 Percent Week Ending May 21st - 2016


Data from STR indicated that the U.S. hotel saw two of the three-performance indicators rise again during the week of 15-21 May 2016. However, occupancy dropped by 0.9 percent, ending the week at 70.7 percent when compared to the same period last year. Average daily rate climbed 2.7 percent to reach $125.76 for the week. Revenue per available room was up by 1.9 percent, ending the week at $88.88. Full Story Here:


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