Friday, November 17, 2017

Hospitality News For The Week Of 11/17/17

Nearly 51 Million Americans to Travel This Thanksgiving, Highest Volume in a Dozen Years

According to projections by AAA, 50.9 million Americans will be traveling at least 50 miles or more for this Thanksgiving. This amounts to the highest Thanksgiving travel volume the nation has seen since 2005. Compared to last year, AAA predicts 1.6 million more people will be traveling for the holiday in 2017. The overwhelming majority, 89 percent (45.5 million) of holiday travelers, will be on the roads for their travel. Full Story Here:

U.S. Hotel Industry Grows at Half the Rate of U.S. Economy

As stated in Hotel Industry Pulse (HIP) indicator, the U.S. hotel industry is growing but only at half the rate of the overall U.S. economy. During the period September 2016 to September 2017 the U.S. economy, measured by GDP, rose by 2.2 percent. During the same period, the U.S. hotel industry experienced growth rate of just one percent. The HIP index measures a combination of three key demand and supply indicators industry-wide. Full Story Here:

STR, Tourism Economics update US growth forecast

STR and Tourism Economics have published their final forecast of 2017 for the U.S. hotel industry. As reported by STR, the U.S. hotel industry will post stronger-than-expected growth numbers for 2017. For the total year, U.S. hotels will see a 0.5 percent increase in occupancy, 2.1 percent rise in average daily rate to $126.66 leading to a 2.5 percent rise in revenue per available room at $83.23. 2018 projections are for industry-wide occupancy to edge up 0.2 percent to 65.6 percent, with a 2.4 percent increase in ADR to $129.64 and revenue per available room rising 2.2 percent to $85.06. Full Story Here:

US Hotel Occupancy Up 4.9 Percent To 68.5 Percent - Week Ending November 11th - 2017

In data published by STR, the U.S. hotel industry recorded positive performance figures during the week of 5-11 November 2017. When compared to the same week last year, industry-wide occupancy was 4.9 percent higher at 68.5 percent by the end of the week. Average daily rate was up by 4.8 percent to reach $128.92 for the week. Revenue per available room was 10.0 percent higher as well, finishing the week at $88.26. Full Story Here:

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