Friday, January 27, 2017

Hospitality News For The Week Of 1/27/17

Tripadvisor reveals best US and Global Hotels with 2017 Traveller Choice Awards

The travel planning and booking site, Tripadvisor, has released the results of their annual Travelers’ Choice for Hotels awards. In the 15th year of Tripadvisor’s compilation of millions of user reviews and ratings, the site has showcased 7,612 hotel properties in 109 countries. The United States lead the way with the most featured hotels at 171. Italy had 162 hotel properties, while France had 158 recognized as award winning. Full Story Here:

Steady Growth Projected For U.S. Hotels In 2017 And 2018

STR and Tourism Economics have published their first hospitality projection of 2017, which predicts steady growth but at a slower pace for hotels in 2017 through 2018. The U.S. hotel industry is projected to see a 0.3 percent decrease in occupancy at 65.3 percent, with a 2.8 percent increase in average daily rate to reach $127.34 for the total-year, and a 2.5 percent rise in revenue per available room at $83.20 in 2017. Projections for 2018 are for a 0.2 percent decrease in occupancy at 65.2 percent, ADR up by 3.0 percent at $130.95, and RevPAR higher by 2.8 percent at $85.36. Full Story Here:

Los Angeles hotel market the big winner in 2016

According to figures published by STR, the Los Angeles hotel market in 2016 lead the U.S. in demand growth. L.A. hotels experienced a revenue per available room (RevPAR) growth rate of 11 percent. Following in order behind Los Angeles were Norfolk/Virginia Beach at 8.2 percent and Nashville with 8 percent RevPAR growth rates. Faced with a supply increase and oil industry difficulties, the Houston market saw the biggest declines with RevPAR falling by 13 percent and occupancy down 6.2 percent at 62 percent. Full Story Here:

STR: US hotel results for week ending 21 January

Figures published by STR indicate the U.S. hotel industry posted positive performance figures for the week of 15-21 January 2017. Compared to the same time period last year, industry-wide occupancy was up by 0.3 percent to reach 56.3 percent for the week. Average daily rate climbed 4.6 percent to end the week at $122.34. This resulted in a growth rate of 4.9 percent in revenue per available room at $68.87. Full Story Here:

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