Friday, October 28, 2016

Hospitality News For The Week Of 10/28/16

A hotelier’s guide to the 2016 presidential election

With the upcoming 2016 presidential election, STR has published an informative infographic explaining the candidates’ positions on a number of issues of importance to the hospitality industry. This election will potentially have far reaching impact for hoteliers. The sluggish economic recovery, immigration, health care costs and tax policy are all critical issues for hotels. Full Story Here:

 

$50 million in hotel room revenue lost during Hurricane Matthew

Hotels in the states impacted by the recent Hurricane Matthew saw a net negative loss in revenue amounting to approximately $50 million, in the time leading up to and immediately following the storm. Hoteliers in Florida, Georgia, North Carolina, South Carolina and Virginia suffered losses due to extensive damage to hotels in the storm’s path. This is in addition to the loss of hotel demand and rates from forced closures. Full Story Here:

 

New York outs Airbnb

The State of New York has signed a bill into law which makes it illegal for homeowners to rent out their residences for a period of 30 days. The new law comes with penalties of up to $7,500 for violations. The legislation is aimed primarily at Airbnb which generated $1 billion in revenue in New York City rentals alone last year. Full Story Here:

 

STR: US hotel results for week ending 22 October

According to figures published by STR, the U.S. hotel industry saw gains in the three most important performance measurement figures during the week of 16-22 October 2016. Compared to the same week last year, industry-wide occupancy gained 2.6 percent to 72.3 percent for the week. The average daily rate climbed 3.2 percent to reach $129.03 by week’s end. Revenue per available room ended the week with an increase of 5.8 percent to $93.26. Full Story Here:

 

 


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