Friday, June 30, 2017

Hospitality News For The Week Of 6/30/17

HITEC’s Canadian Debut Draws Largest Conference Attendance in 45 Year History

The international association, Hospitality Financial and Technology Professionals (HFTP) held its annual Hospitality Industry Technology Exposition and Conference (HITEC) in Toronto, Ontario Canada this week June 26-29 2017. This year’s HITEC drew the highest attendance ever in the conference’s 45-year history to the Metro Toronto Convention Centre. The event gathered over 6,500 industry professionals from over 65 countries to the floor featuring 366 exhibitors and to hear 130 speakers and four keynote speakers. Full Story Here:

Independents Day: Rise of independent hotels sets off industry fireworks.

Data from both STR and Expedia indicates that independent hotels are experiencing greater growth rates in average daily rate than branded hotel properties. This is a continuation of a trend in recent years, begun in the first quarter of 2014. Additionally, guests at independent properties spend more per night than they do at brand hotels, on average. In the first quarter of 2017 the top earning independent hotel markets were Las Vegas, Manhattan, Miami, Orlando and Los Angeles. Full Story Here:

Stable Rates with Declines in Bookings Continue as Hoteliers Close Out First Half of 2017

As the hospitality industry moves into the second half of the year, hotels in North America are experiencing average daily rates continue to be stable. However, bookings declined in the second quarter of 2017. This is according to TravelClick’s June 2017 North American Hospitality Review (NAHR). While transient leisure travel bookings have been growing, this has been more than offset by declines in both transient business (-1.5 percent) and transient group (-1.6 percent) bookings. Full Story Here:

STR: US hotel results for week ending 24 June

Mixed performance results were reported by the U.S. hotel industry for the week of 18-24 June 2017. According to figures from STR, compared to the same period last year, industry-wide occupancy was down by -1.2 percent at 75.8 percent. Average daily rate however was 1.1 percent higher, finishing the week at $129.73. Revenue per available room was nearly unchanged at -0.1 percent, ending the week at $98.31. Full Story Here:

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