Sunday, February 19, 2017

Hospitality News For The Week Of 2/17/17

Hotel Construction Is Up in the US

STR is reporting that current hotel construction projects are up by over 16 percent for January 2017, compared to the same month last year. 4,763 hotels are now under construction, with 1,449 projected for later this year. This is according to STR’s January 2017 Pipeline Report. Nearly one-third, 31 percent, of the development is occurring in 10 major markets. New York leads the list of the top ten, followed by Dallas; Los Angeles; Seattle; Houston; Denver; Las Vegas; Washington, D.C.; Nashville; and Chicago. Full Story Here:

G6 executive illuminates international, digital growth

G6 Hospitality is undergoing aggressive expansion of digital presence, while adding India to a growing list of markets into which the Dallas-based company is expanding. The expansion is in line with plans made almost five years ago with parent company Blackstone. 2017 is the fifth anniversary of Blackstone’s acquisition of G6 Hospitality for $1.9 billion, which includes the primary brand Motel 6. Digital improvements by G6 have included the company’s September introduction of its proprietary cloud-based revenue management tool. Called “G6 Revenue Optimization Workspace, or “G6ROW”, the platform is capable of providing real-time rate and inventory management from anywhere, at anytime, on any device. Full Story Here:

New study reveals hoteliers envision similar technology in 2020 as ten years ago

ESSEC Business School professor Peter O’Connor, in collaboration with IDeaS Revenue Solutions, Revinate, and SiteMinder, has published the results of a sobering study which surveyed hundreds of leading hoteliers in regards to the future of the industry’s technology. While hoteliers see a near future of digitally connected, demanding customers much of their vision is lacking in foresight. When those surveyed were asked to name technologies that the industry could not live without in 2020, most responded with systems which are already in place across the hospitality industry. The results clearly indicate an industry with a highly conservative outlook. Full Story Here:

US Hotel Occupancy Down 4.4 Percent To 59.6 Percent - Week Ending February 11th - 2017

According to data published by STR, the U.S. hotel industry posted negative results in all three key performance measurements during the week of 5-11 February 2017. Compared to the same time period last year, industry-aide occupancy was down by -4.4 percent to finish the week at 59.6 percent. Average daily rate was -1.6 percent lower, ending up at $121.43 for the week. Revenue per available room dropped -5.9 percent to end the week at $72.41. Full Story Here:

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