Friday, April 14, 2017

Hospitality News For The Week Of 4/14/17

U.S. Hotel Stocks Up 3.3 Percent For March 2017

The Baird/STR Hotel Stock Index has been published and indicates an increase in hotel stock value of 3.3 percent for the month of March 2017. The index ended the month at 3,876 and has seen an increase of 4.7 percent across the first quarter of 2017. The hospitality sector has outperformed the broader S&P 500, which remained flat during the month of March 2017. Full Story Here:

Chinese tourists spent 12% more in traveling abroad in 2016

The United Nations World Tourism Organization (UNWTO) has released the results of its current World Tourism Barometer. The report shows China leads the rest of the world regarding international outbound tourism. China increased its spending on outbound tourism during 2016 by 12 percent. Behind China in travel spending in order were the United States, Germany, the United Kingdom, and France. Worldwide international tourist arrivals saw a 4 percent growth rate, reaching 1.2 billion for 2016. Full Story Here:

U.S. Hotel Construction Pipeline Under Contract For March 2017 Up 14.4 Percent Over 2016

The latest hotel construction report, STR’s March 2017 Pipeline Report, indicates a 14.4 percent increase in the number of rooms Under Contract over March 2016. In March 2017 there were 571,311 rooms across 4,721 hotel projects in the United States. Hotels listed as In Construction amounted to 190,764 rooms that are part of a total of 1,449 projects. This represents a 24.4 percent increase over last year’s numbers. Full Story Here:

STR: US hotel results for week ending 8 April

U.S. hotels experienced an increase in occupancy of 3 percent to reach 70.2 percent for the week 2-8 April 2017, compared to the same period last year according to figures from STR. Average daily rate rose by 3.7 percent to finish the week at $127.89. Revenue per available room, as a result, climbed up by 6.8 percent to attain $89.84 by week’s end. Full Story Here:

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