US hoteliers keep eye on dip in bookings from Europe
Heading into the New Year, American hotels are noticing a drop in bookings from European travelers. Hoteliers are unsure of the reason or factors which might be contributing to the downturn in European travel to the U.S. Concurrently, U.S. transient reservations is on the rise, particularly from the business segment. Possible causes put forth for the drop include economic turmoil in Europe, combined with the election of a U.S. President who is unpopular in a number of European countries. Full Story Here:
Is Airbnb Catching Up to Traditional Hotels?
STR has published the results of an independent analysis of hotel performance data in comparison to Airbnb figures in select markets. The research analyzed 13 different markets between December 2013 and July 2016, and found the short-term rental platform is not a valid threat to hotels in those markets yet. STR found that in markets where Airbnb experienced the greatest occupancy levels, hotels also enjoy high occupancy as well. Additionally, the growing supply of Airbnb properties has not had a detrimental effect on hotel pricing either. Full StoryHere:
Cornell Study Examines Emerging Trends in Hotel Revenue Management
The Cornell Center for Hospitality Research (CHR) has published a study to determine the evolution of hotel revenue management practices during the last six years. Important takeaways include the influence of technology and data analytics on the revenue management decision-making process for hoteliers. Also the impacts of mobile technology and social media as distribution channels continue to be a work in progress. Another change has been the rise of revenue management to become a stand alone department within many hotel companies. Full Story Here:
US Hotel Occupancy down slightly 0.1 Percent To 52.9 Percent In December 2016
Mostly positive year-over-year performance results were posted by the U.S. hotel industry in December 2016, according data published by STR. When compared to December 2015, occupancy was almost unchanged at -0.1 percent to 52.9 percent for the month. Average daily rate was higher by 2.4 percent however, reaching $119.01 by the end of the month. Revenue per available room saw an increase as well, growing by 2.3 percent to attain $62.98 by month’s end. Full Story Here: