Friday, March 16, 2018

Hospitality News For The Week Of 3/16/18

U.S. Families Plan to Take More Trips in 2018

AAA Travel has released the results of a survey of more than 1,000 U.S. adults regarding their travel plans in 2018. According to the research, 88 million Americans are planning on taking a family vacation this year. Younger families are driving these numbers with 44 percent of Millennials and 39 percent of Generation X taking a family getaway. Increasingly these families are taking more than one trip each year, with more than one in four taking over three vacations in the next 12 months. Full StoryHere:

US hotel deals bounce back in 2017 after 2016 dip

STR has published their annual report of hotel asset trades, the Hotel Transaction Almanac. According to the Transaction Almanac during 2017, there were 567 individual hotel transactions and 35 portfolios sales completed. The activity represented a 59 percent growth in transactions, following a dip in transactions during 2016, and a 27 percent increases in transaction volume, reaching $20.1 billion. Projections for 2018 are for similar figures of hotel transactions volume. Full Story Here:

Millennial and GenZ travelers spending more, experiencing life as a local

The World Youth and Student Educational (WYSE) Travel Confederation has released the results of their New Horizons Survey. Approximately 57,000 travelers between the ages of 18 and 35 were surveyed in the study. Since the survey was first conducted in 2002, the average amount sent per trip by young travelers has more than doubled. The WYSE Travel Confederation estimates that $280 billion was generated in youth travel during 2016. The research indicates young travelers spend more and stay longer than the typical traditional tourist. Full Story Here:

US Hotel Occupancy Up 1.1 Percent To 68.1 Percent - Week Ending March 10th - 2018

According to published data by STR, the U.S. hotel industry posted positive performance figures for the week of 4-10 March 2018. Compared to the same period last year, industry-wide occupancy went up by +1.1 percent to 68.1 percent for the week. The average daily rate rose by +2.0 percent to end the week at $131.46. Revenue per available room was +3.1 percent higher, finishing the week at $89.53. Full Story Here:

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