Sunday, October 15, 2017

Hospitality News For The Week Of 10/13/17

U.S Business Travelers Harbor a Positive Outlook on Business Travel

The American Express Business Travel Survey was recently published revealing shifting attitudes towards business travel. According to the survey the U.S. respondents, 91 percent, overwhelming state they enjoy traveling for business. Additionally, nearly two-thirds (62%) believe business travel brings them professional satisfaction in the form of face-to-face interaction with their colleagues, customers, suppliers and prospects. Negative issues with business travel for the respondents include last minute travel delays, connectivity and technology problems, and last minute changes to meetings. Full Story Here:

Storms set the tone for Q3 earnings season

The hotel industry has been impacted tremendously by the recent Hurricanes Harvey, Irma and Maria and this will certainly be on the minds of investors as they speak with publicly traded C-corps and real estate investment trusts. Industry experts have stated some hotels have seen a benefit from the storms in the form of relocated residents from storm-affected areas. However, this has largely only benefited economy and midscale hotels in the past. The hurricane-related bump up in performance is expected to last until the second quarter of 2018. Full Story Here:

These Are the Most and Least Affordable Places to Travel This Holiday Season

According to a newly published study by the personal finance website GOBankingRates; Cape Town, South Africa; Park City, Utah and Sydney, Australia are the most costly places to visit for the holidays. Conversely, two cities with a reputation for being expensive for travelers made the top five most affordable list for holiday travel; namely San Francisco and Chicago. The study made its determinations based on the cost of flights, hotels, food, drinks, transportation and entertainment. Full Story Here:

US Hotel Occupancy Up 2.0 Percent To 71.4 Percent - Week Ending October 7th - 2017

Positive performance figures were recorded by the U.S. hotel industry for the week of 1-7 October 2017, according to STR. When compared to the same week last year, industry-wide occupancy rose by +0.9 percent to reach 71.4 percent for the week. Average daily rate climbed up +2.0 percent to end the week at $130.92. Revenue per available room jumped up by +3.0 percent to finish out the week at $93.51. Full Story Here:

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