Monday, April 3, 2017

Hospitality News For The Week Of 3/31/17

Weakening March reservation pace creates new challenges for hoteliers

According to TravelClick’s March 2017 North American Hospitality Review (NAHR) new commitments are down by -1.6 percent, going into the spring season. Committed occupancy is also down -1.2 percent for the first quarter 2017 through the fourth quarter of 2017. This is compared to the same figures from 2016. Despite group travel experiencing some growth in the first quarter, both leisure and business travel are in decline across numerous markets in North America. FullStory Here:


Global markets report tourism gains in Q4, Q1

The global market report from Hotel News Now has uncovered a number of commonalities across a number of diverse hotel markets around the world. During the last six months many markets have experienced a surge in tourists originating from China and Japan and this trend is spurring growth in markets as diverse as Ukraine and Hawaii. Sports tourism is the driving force behind hospitality gains in Detroit as the city builds a new arena downtown for its professional sports teams. Sochi, Russia is still reaping the benefits of hosting the 2014 Winter Olympics as Russian tourists are increasingly staying closer to home on vacation. Full Story Here:


Hotels among biggest beneficiaries of Trump economic growth

Fitch Ratings has published a new report highlighting the possibility of strong and immediate gains for hotels, if President Donald Trump succeeds in implementing his plans for infrastructure spending and tax and regulatory reforms. However, the projected gains could be offset by the President’s restrictive trade and immigration policies which could undermine growth. All commercial real estate will be affected by the outcomes of the President’s policies. Full Story Here:


US Hotel Occupancy Up 5.0 Percent To 68.7 Percent - Week Ending March 25th - 2017

According to figures published by STR, the U.S. hotel industry posted positive numbers across the three key performance metrics for the week of 19-25 March 2017. Compared to the same time period last year, industry-wide occupancy climbed up 5.0 percent to reach 68.7 percent at the end of the week. Average daily rate rose by 2.9 percent to end the week at $127.68. Revenue per available room was higher by 7.9 percent to finish the week at $87.75. Full Story Here:


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