Friday, October 21, 2016

Hospitality News For The Week Of 10/21/16

Shifts in Hotel Revenues Reflect Changes in Development and Guest Preferences

CBRE Hotels has released their Americas Research, Trends in the Hotel Industry report showing a compound annual growth rate of 4.2 percent between the years 1977 through 2015. The survey indicates a shift in guest preferences over the years resulting in increasing rooms revenue figures, while other revenue sources have experienced slower growth. For example, food and beverage revenue growth has slowed significantly, resulting in some hotels reducing or eliminating room service and/or restaurants. Full Story Here:

 

STR: US hotel performance for September 2016

The month of September 2016 saw positive performance numbers for the U.S. hotel industry, according to figures from STR. For the month, industry-wide occupancy climbed 1.6 percent to reach 68.8 percent compared to the same month last year. Average daily rate rose by 3.9 percent to finish the month at $127.07. Revenue per available room increased by 5.6 percent, attaining $87.40 for the month. STR reports that September was the best month of 2016, so far, in terms of revenue per available room growth rate. Full Story Here:

 

Global Travel Trends Report For December Holidays Already Starting To Surprise 

The latest Global Travel Insights Report has been published by Sojern, which looks forward to Q4 and makes projections for the holiday travel season of 2016. The report indicates several changing patterns in holiday travel. North American travelers are seeking departure days later in the month of December than has been the case in the past. Also, North American travelers are searching for flights that travel further, on average 3,177 miles in December 2016. Full Story Here:

 

STR: US hotel results for the week ending 15 October

According to performance figures from STR, the U.S. hotel industry saw the three most important metrics drop during the week of 9-15 October 2016. Compared to the same week last year, industry-wide occupancy was down by 1.4 percent to 70.7 percent for the week. Average daily rate was almost unchanged at -0.2 percent, ending the week at $123.84. Revenue per available room was 1.6 percent lower, to finish the week at $87.57. Full Story Here:

 


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