Friday, December 16, 2016

Hospitality News For The Week Of 12/16/16

Hoteliers planned for interest-rate rise, see benefits
The Federal Reserve raised interest rates by 0.25% this week, but hoteliers see the increase as a positive move. Hotels view the interest rate hike as an inevitable necessity that is not surprising. The increase was the first since December of 2015 and is not expected to have a widespread or deep impact on the hospitality industry. Many hoteliers have already included the higher rates into their upcoming budgets in advance of the move. Full Story Here:

US Hotel Occupancy Up 1.7 Percent To 59.2 Percent - Week Ending December 10th - 2016
Hotels across the U.S. posted positive performance numbers for the week of 4-10 December 2016. According to data published by STR, industry-wide occupancy was higher by 1.7 percent when compared to the same period last year. Average daily rate increased by 3.9 percent to reach $120.12 for the week. Revenue per available room saw an increase of 5.7 percent to attain $71.08 by the end of the week. Full Story Here:

3 Hospitality Trends to Look for in 2017
As the year comes to a close, the hospitality industry should see three trends have an impact during 2017. Increasing brand loyalty through guest feedback is near the top on the list, particularly in regards to business travelers. Guest personalization will continue its preeminence for hotels in 2017. Also, hotels are expected to increase their targeting of Millennial Generation travelers as well. Full Story Here:

2016 see sharp rise in buyers using sharing economy suppliers
Business travel saw an astronomical rise in the utilization of sharing economy travel suppliers during the year of 2016. Travel managers have increased inclusion of sharing economy providers such as Airbnb and Uber in their travel policies, with more than 28 percent doing so. This represents an astounding 250 percent increase over the only 8 percent in 2015. These figures come from the Business Travel Show poll of 178 European travel managers. Full Story Here:

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