Friday, October 7, 2016

Hospitality News For The Week Of 10/7/16

CEOs expect technology to drive loyalty, distribution

The International Society of Hospitality Consultants held its annual convention recently at the Fairmont Olympic Hotel in Seattle. CEO guest speakers at the convention stressed the importance of technology to hospitality’s future and the need for complete systems integration. According to the speakers, industry-wide technology adoption must take place in order to empower hotel staff to drive up guest loyalty and improve distribution channels. Full Story Here:


Travel Drives Millennials in the Workforce has released the results of their study of workers which found the Millennial generation is highly motivated by travel. In the survey, seventy percent of Millennials identified travel as second only to the need for basic necessities in their motivation to work. With Millennials now the largest generation in the U.S. workforce, these results have tremendous implications for U.S. employers and the travel industry. Full Story Here:


5 signs point to cycle’s grand finale in mid-2017

The U.S.hotel industry has been enjoying over seven years of growth in revenue per available room, but the cycle is showing signs that the end is coming soon. If the growth lasts through November 2016, it will then become the longest growth period in hospitality history and will end at some point. Rates are stagnating, while supply is growing. The merger and acquisition trend will also continue and create further consolidation within the industry as well. Full Story Here:


US Hotel Occupancy Up 1.8 Percent To 70.0 Percent - Week Ending October 1st - 2016

In the three most significant performance measurements, the U.S. hotel industry posted positive numbers during the week of 25 September through 1 October 2016. When compared to the same time period last year, industry-wide occupancy rose by 1.8 percent to reach a flat 70 percent for the week. Average daily rate climbed 1.3 percent to $126.95 for the week. And revenue per available room saw an increase of 3.2 percent to attain $88.83 by week’s end. Full Story Here:


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