Friday, September 29, 2017

Hospitality News For The Week Of 9/29/17

U.S. hotel fees, surcharges expected to reach record levels in 2017

The U.S. hotel industry is set to reach another record for the collection of fees and surcharges from guests during 2017. According to data forecast by the Center for Hospitality and Tourism at the NYU School of Professional Studies, the amount of $2.7 billion collected by U.S. hotels this year will break the record $2.6 billion reached in 2016. The increase is a reflection of an approximate rise of 2 percent in occupied hotel guest rooms over the previous year and an increase in cancellation charges. The industry is in the midst of a 17-year surge in fees and surcharges charged by hotels. Full Story Here:

U.S. Domestic Travel and Road Trips On the Rise

MMGY Global has published their 2017 Portrait of American Travelers, which is indicating an increase in U.S. domestic travel. The report states 13.9 million more vacations were taken domestically than internationally, in the last 12 months from 2016 to 2017. During the same time frame covered in the report, road trip vacations increased from 22 percent to 39 percent. Spending on road trip travel accounted for $113.7 billion in 2016, compared to the previous year. The study defined “Roadtrippers” as making over $50,000 in annual income and comprising 46 percent of U.S. travelers. Full Story Here:

Extended-stay demand outlook remains positive

Growth in extended-stay occupancy and real revenue-per-available-room is expected to remain at a high level, despite an increase in supply between mid-2016 and mid-2017. According to figures published by The Highland Group, 30,000 new extended-stay hotel rooms were added during that time frame. This represents a 9 percent increase over 2010, which held the previous supply growth record for the segment. The situation has resulted in developers being unable to keep up with demand. Full Story Here:

US Hotel Occupancy Down 0.7 Percent To 71.5 Percent - Week Ending September 23rd - 2017

All three key performance metrics were down for the U.S. hotel industry during the week of 17-23 September 2017. Compared to the same period last year, STR is reporting industry-wide occupancy dipped -0.7 percent to 71.4 percent for the week. Average daily rate was down by -1.9 percent to finish at $128.44 at the end of the week. Revenue per available room fell by -2.5 percent to end the week at $91.76. Full Story Here:

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