Friday, July 28, 2017

Hospitality News For The Week Of 7/28/17

Business travel has positive economic impact on the US economy, supports over 7 million jobs.

The Global Business Travel Association (GBTA) has published their ‘The U.S. Business Travel Economic Impact Report’ which stresses the vital impact by business travel on the U.S. economy. The association’s research studied the economic impact business travelers and the companies that send them had on the U.S. during the year 2016. The study found $424 billion was spent on 514.4 million business trips in the U.S. domestically. Furthermore, business travel helps support 7.4 million jobs across the U.S., while generating $135 billion in tax revenue at the federal, state and local levels. Full Story Here:

Hotels should win battle between OTAs, sharing economy

The online travel agencies and the principal member of the rental sharing economy, Airbnb, have been moving into each other’s markets in recent times. Expedia and Priceline Group have stepped up the number of vacation rental units they list in their websites. This appears to be in response to Airbnb’s addition of a “Trips” feature. The new feature offers rental guests unique experiences and adventure in the form of guided trips and tours, something the QTA’s have done for quite some time. Full StoryHere:

[Infographic] How well does your hate understand the needs of business travelers?

The business travel market is diversifying and hoteliers need to realize all business travelers are not the same and require a more varied approach. In 2016, women made up 47 percent of the business travel segment, while the average age of the business traveler was 45.9 years old. This is according to an informative infographic published by SiteMinder. During the year 2016 covered in the study, Millennials took 7.4 business trips. This amounts to more on average than their older peers. Full Story Here:

US Hotel Occupancy Down Slightly 0.2 Percent To 78.0 Percent - Week Ending July 22nd - 2017

According to figures published by STR, the U.S. hotel industry reported performance results which were largely unchanged for the week 16-22 July 2017. Compared to the same time period last year, industry-wide occupancy was down slightly by -0.2 percent to 78.0 percent for the week. The average daily rate was up by +0.5 percent, finishing the week at $131.86. Revenue per available room was slightly higher as well, up +0.4 percent to end the week at $102.85. Full Story Here:

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