Friday, June 10, 2016

Hospitality News For The Week Of 6/10/16

U.S. Hoteliers on Alert After First Quarter Occupancy Decline 

According to data from STR, Inc. the U.S. hotel market experienced a decline in occupancy of 0.5 percent during the first quarter of 2016. This comes after a record setting occupancy level of 2015. The decline is a cause for concern, but not surprising after the previous five years that the industry enjoyed. Industry wide occupancy is expected to decline in 2016 and 2017 because of increasing supply outpacing demand growth. Full Story Here:

 

NYU: 5 things to know from hotel CEOs

The 2016 NYU International Hospitality Industry Investment Conference was held this week in New York City. Leading industry CEO’s gathered and shared their assessments of a number of issues facing hotels currently. Important topics discussed included industry threats from the sharing economy, the future role of OTA’s in the hospitality industry, growth opportunities in Cuba, the mergers and acquisitions in the industry, and what affects Chinese investment will have upon the hospitality industry. Full Story Here:

 

Infographic: Do consumers trust the sharing economy?

Recently a consumer survey by published by Hooyu claims consumers lack trust in the sharing economy and many of its services. The Hooyu Trust & Identity in the Sharing Economy report stated that consumers do not trust renting themselves or renting out to someone else without knowing the host or guest first. Over 68 percent don’t trust renting out part or all of their property. And over 67 percent don’t trust renting from someone else either. Full Story Here:

 

STR: US hotel results for the week ending 4 June

The week of 29 May through 4 June 2016 was negative for the most part, according to figures from STR, Inc. When compared to the same period last year, industry wide occupancy dropped by 6.8 percent to 64.6 percent. Average daily rate remained flat at $118.45. Revenue per available room fell by 6.8 percent to $76.56 by week’s end. A shift in the Memorial Day on the calendar is cited as having a significant affect on the numbers. Full Story Here:

 

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