Friday, June 3, 2016

Hospitality News For The Week Of 6/3/16

Recession risk for US hoteliers rising says predictive analytics firm

According to e-forecasting.com’s HIL indicator, future monthly business conditions of the U.S. hotel industry dropped by 0.1 percent in the month of April. The HIL indicator in the past has successfully predicted past economic turns based on its six-month growth rate. The probability of hotel industry recession reached 47.8 percent in April and stood at 39.8 percent in March. If the HIL reaches 50 percent for more than three months, industry wide recession will be the result in the following business cycle. Full Story Here:

 

A Slow Start, But Will It Continue?

RAR Hospitality has released the results of their Midyear Forecast Update, revising their 2016 RevPAR growth rate down to 3.75 percent. This amounts to a reduction in rate of growth based on the hospitality industry’s poor showing in the first quarter which posted a flat growth rate. A number of law and regulation changes coming in 2017 could hurt the industry, however growth is expected for the remainder of 2016. Full Story Here:

 

Hotels.com Mobile Travel Tracker Study Funds Travelers Prefer Their Device More than Their Loved One

Hotels.com published their findings of the Mobil Travel Tracker, a global study of the habits of 9,200 travelers in 31 countries. Important takeaways include 42 percent booking their hotels frequently on mobile devices. The average traveler spends 13 nights staying at hotels each year, across four trips per year. Payment method offerings and genuine guest reviews out weigh price in the minds of today’s travelers. Full Story Here:

 

STR: US hotel results for week ending 28 May

The U.S. hotel industry posted positive numbers across the board the week of 22-28 May 2016. When compared to the same period last year, occupancy was up by 10.6 percent to 70.1 percent for the week. Average daily rate rose 7.7 percent, reaching $124.08 by week’s end. Revenue per available room climbed 19.1 percent for the week, ending up at $86.95. Full Story Here:

 


Posted via OnFast - http://www.OnFast.com

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