Friday, September 9, 2016

Hospitality News For The Week Of 9/9/16

The Impact of Online Reviews on the Hospitality Industry [Infographic]

Online hotel reviews now dominate the travel decision making process of consumers, making them vital to any hotel’s success. This enlightening infographic clearly illustrates that reality. An overwhelming majority of travelers, 97.7 percent of consumers, now read online reviews from their fellow travelers. There are now more than 100 million reviews available online to help consumers make informed choices. A clear majority of travelers (53 percent) will not even consider a hotel which does not have any reviews. Full Story Here:


Millennials book for unique experiences, social status

The recently held Southern Lodging Summit in Memphis, Tennessee featured a number of speakers stressing the importance for hoteliers to have an understanding of Millennial travelers. An awareness of what motivates Millennials is crucial to future of the hospitality industry. Innovative technology and excitingly visual content geared toward group travel are highly appealing to this age group between 18 and 35 years old. Full Story Here:


Slower growth forecast for U.S. hotels

The 2016 Hotel Data Conference was held this week at the Omni Nashville Hotel with industry experts predicting slow, but continued growth for the hospitality sector through 2017. For the remainder of 2016 occupancy is expected to remain nearly flat at 65.5 percent. However, average daily rate should climb 3.2 percent to reach $124.12. While revenue per available room should be up by 3.2 percent as well at $81.26. Full Story Here:


US Hotel Occupancy Up 1.6 Percent To 64.5 Percent - Week Ending September 3rd - 2016

The U.S. hotel industry posted positive results in all three performance measurements for the week of 28 August through 3 September 2016. Compared to the same time period last year, industry wide occupancy was up by 1.6 percent to 64.5 percent. The average daily rate climbed 2.4 percent to reach $118.97 by week’s end. Revenue per available room increased by 4.1 to attain $76.76 for the week. Full Story Here:


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