Friday, February 2, 2018

Hospitality News For The Week Of 2/2/18

North American Hoteliers Welcome Uptick in Rates & Booking Across All Travel Segments as 2018 Begins

According to the January 2018 North American Hospitality Review (NAHR) published by TravelClick, the new year has begun with North American hotels experiencing consistent gains in every travel segment, compared to 2017. So far in 2018 average daily rates are 0.7 percent higher and bookings have risen by 2.1 percent. The transient leisure segment has stood out in particular with significant gain of 6.8 percent in bookings and revenue per available room up impressively by 7.3 percent. Full Story Here:

Lodging food and beverage programs forecast to thrive in 2018

Recently published research by Technomic indicates continued growth for the food and beverage programs of hotels. 2017 saw an increase in consumer spending on food & beverage products and services in hotels of 4.9 percent, with an annual growth rate of 5.5 percent since 2011. Total spending by consumers on hotel food & beverage during 2017 amounted to $48.7 billion. With demand remaining strong, Technomic forecasts growth to continue in the 5 percent range going forward. Full Story Here:

Data Reveals Risks, Prospects Facing US Hotels in 2018

At the beginning of a new year, an examination of the status of the U.S. hotel reveals a number of prospects for opportunity tempered by a few weaknesses. On a positive note, during 2017 U.S. hotel occupancy was the highest since STR began keeping track in 1987, 65.9 percent industry-wide. Revenue per available room has continued to grow for the last eight years straight. However, its rate of growth has been steadily slowing since 2014. A robust development pipeline is firmly in place with 588,645 rooms under contract as of December 2017. This can be seen two ways, good for development and franchise companies, but causes market-wide occupancy to decline. FullStory Here:

US Hotel Occupancy Up 0.6 Percent To 58.2 Percent - Week Ending January 27th - 2018

STR reported positive performance metrics for the U.S. hotel for the week of 21 - 27 January 2018. Compared to the same period last year, industry-wide occupancy was +0.6 percent higher at 58.2 percent for the week. Average daily rate was up by +3.9 percent by week’s end, finishing at $124.72 by the end of the week. Revenue per available room rose by +4.5 percent as well, ending the week at $72.55. Full Story Here:

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