Friday, January 6, 2017

Hospitality News For The Week Of 1/6/17

CBRE Issues U.S. Lodging Forecast
CBRE Hotels has released their forecast for the U.S. lodging industry, predicting continued performance growth industry wide. Historical hotels in particular are forecast to see an annual growth rate for revenue per available room of 2.7 percent. American upper upscale hotels should see a 2.0 percent annual growth in RevPar, while luxury hotels are expected to experience a 1.7 percent growth. All growth in RevPar will be brought about by continued increases in the average daily rate for these hotels. Full Story Here:

Travelers’ Top Criteria for Choosing a Hotel
The factors that go into the decision-making process for travelers in choosing a hotel were explored in a recently published study by Sullivan and 20120 Research. Key findings include the primacy of value for money to travelers, and in addition the location, experience, and ease of the booking of the hotel. Travelers seek validation in their findings through referrals, ratings/reviews, and past experience, among other factors as well. Full Story Here:

North American Hospitality Off to Positive Start in 2017
North American hotels are beginning 2017 positively, according to published data from TravelClick. The industry saw year-over-year increases in occupancy of 5.0 percent and 3.2 percent increase in average daily rate to begin 2017. After facing challenges in the last two quarters of 2016, the North American hospitality sector is seeing an improvements in future transient and group bookings in 2017. Year-over-year transient bookings are up 4.0 percent, while group bookings are higher by 2.8 percent. Full Story Here:

STR: US hotel results for week ending 31 December
U.S. hotel industry performance figures for the week of 25-31 December 2016 were mostly positive, according to STR. Industry-wide occupancy remained flat at -0.2 to 54.5 percent for the week, compared to the same period last year. However, average daily rate climbed up by 2.2 percent to reach $132.79 by week’s end. Revenue per available room increased 2 percent to attain $72.38 at the end of the week. Full Story Here:

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