Friday, March 10, 2017

Hospitality News For The Week Of 3/10/17

New Study Shatters Arbnb Homesharing Myth

A new study published by the American Hotel & Lodging Association (AHLA) contends that the majority of Airbnb’s revenue is generated by what amounts to “illegal hotels”. The report entitled “Hosts with Multiple Units - A Key Driver of Airbnb Growth” states that 81 percent of Airbnb’s U.S. business is derived from whole-unit rentals, amounting to $4.6 billion in revenue. Whole-unit rentals are those in which the owner is not present during the rental. The study was conducted by the research firm CBRE Hotels’ Americas Research, with funding provided by the AHLA. Full Story Here:

Mobile search rates for hotels reach huge level

A study conducted by Sojern, utilizing their own data combined with Google data, has found the hotel mobile search rates have reached massive levels. According to the research, 73 percent of searches for economy accommodations come from mobile devices. This is in contrast with the luxury segment at 45 percent, which had the lowest percentage of mobile searches. However, the fastest mobile growth rate at 23 percent belonged to the luxury segment in the time between July and December of 2016. Midscale properties amounted to 62 percent on mobile devices and upscale at 53 percent. Full Story Here:

US hotel revenue growth driven by overlooked sources in lower chain scales and 2nd markets

CBRE Hotels’ Americas Research has released their March 2017 Hotel Horizons forecast report, which indicated that revenue per available room grew for the seventh consecutive year during 2016. The report also projects RevPAR growth to remain strong as well. The research credits some unexpected sources for the continued growth of late.  While the upper-priced properties were largely responsible for the hospitality industry’s recovery from the recession, the economy chain-scale has experienced the most sustained growth rate of 5.6 percent for the last five years. Full Story Here:

STR: US hotel results for week ending 4 March

The U.S. hotel industry experienced positive metrics performance during the week of 26 February through 4 March 2017, according to figures from STR. Compared to the same period last year, industry-wide occupancy climbed up 1.9 percent to 64.9 percent for the week. Average daily rate was 1.6 percent higher at $122.99 by the end of the week. Revenue per available room rose by 3.6 percent to reach $79.77 at week’s end. Full Story Here:

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