Monday, November 14, 2016

Hospitality News For The Week Of 11/11/16

Election itself not likely to move economic needles

Despite much anxiety and dire predictions to the contrary, STR predicts there will be no lasting negative impacts from the 2016 presidential election. STR has found, in studies of the last seven elections, that presidents inherit the economy of their predecessor. Elections do not, in and of themselves, impact the hospitality industry in any way. Ultimately the industry conditions reflect the policies implemented during each administration. Full Story Here:

 

Close to one billion international tourists in the first nine months of 2016 

The first nine months of 2016 saw a surge in international tourism of 4 percent, compared to the same time period in 2015. 956 million tourists traveled internationally between January and September 2016, an increase of 34 million over the previous year. According to the UNWTO, tourism is extremely sensitive to outside forces and perceptions. Governments must work together with the travel industry to minimize the negative impacts from global threats to the safety and security of travelers. Full Story Here:

 

Tourism On Growth Path Despite Terror

The 24th World Travel Monitor Forum was recently held in Pisa, Italy. Reports from the forum indicate that the worldwide travel industry remains on path of growth, despite challenges from terrorism and political unrest. Outbound travel rose by 3.9 percent during the first 8 months of the year. The predictions for 2017 are extremely positive as well. Worldwide travel is expected to experience a growth level of between 4 to 5 percent next year. Full Story Here:

 

STR: US hotel results for week ending 5 November

The U.S. hospitality industry experienced mixed results during the week of 30 October through 5 November 2016, as compared to the same period last year. According to STR, industry-wide occupancy dropped by 3.5 percent to 64 percent for the week. Average daily rate, however, saw an increase of 1.6 percent by the end of the week. At week’s end revenue per available room fell 1.9 percent to end up at $78.82. Full Story Here:

 

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