Friday, June 17, 2016

Hospitality News For The Week Of 6/17/16

U.S. Hotel Revenue Growing, But Slowing

The U.S. hotel industry has seen significant growth in occupancy, average daily rate and profits over the course of the last five years. According to the Americas Research 2016 edition of CBRE Hotel’s Trends in the Hotel Industry report, growth is continuing but at a much slower rate currently. The report states that Total Operating Revenues were up in 2015 by only 5.3 percent. More troubling for the industry was the 4.7 percent hike in expenses, particularly in light of the insignificant 0.1 percent inflation rate. Full Story Here:


Travel is number one mood booster for Americans: Traveler’s Sweet Spot Survey has published the results of their Traveler’s Sweet Spot Survey, analyzing the preferences of today’s traveler. The survey found that travel enhances the moods of Americans, in fact more than both exercising and shopping. Romantic getaways top the list for both men and women. Closely behind in mood-boosting ability is travel to visit friends or relatives. Priceline conducted an independent survey and found that 51 percent are booking a short-term trip. Also 34 percent book more than five trips per year. Full Story Here:


HITEC 2016

The Hospitality Industry Technology Exposition & Conference (HITEC) will be kicking off in New Orleans, LA next week June 20-23, 2016 at the Ernest N. Morial Convention Center. Participating will be over 300 companies, including Above Property. Across over 130,000 square feet will be featured hospitality technology experts presenting the latest products and services to the hospitality industry. Full Story Here:


US Hotel Occupancy Flat At 73.7 Percent Week Ending June 11th - 2016

The week of 5-11 June 2016 saw the U.S. hotel industry post largely positive numbers, according to figures released by STR, Inc. Occupancy was almost flat in year to year figures, rising slightly at 0.2 percent to reach 73.7 percent for the week. Average daily rate climbed up 3.7 percent to $126.14 for the week. And revenue per available room was up by 3.9 percent to $92.97 by week’s end. Full Story Here: 


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