Friday, April 20, 2018

Hospitality News For The Week Of 4/20/18

STR: US hotels set Q1 performance record

According to data published by STR, the U.S. hotel industry set a new record for first quarter performance in 2018. The three key industry performance figures were the highest ever recorded for a Q1 since STR began keeping track. Compared to the first quarter of 2017, industry-wide occupancy was +0.9 percent higher at 61.6 percent. Average daily rate was up by +2.5 percent to $127.37. Revenue per available room rose by +3.5 percent to $78.46. Supply and demand set new records as well. On the supply side, 460 million room nights were available, while demand resulted in more than 285 million room nights sold. Demand grew at a higher rate,+3.0 percent, than supply at +2.0 percent. Full Story Here:

Majority of global online travel buyers visit TripAdvisor before booking a hotel or flight

TripAdvisor published the results of their “Path to Purchase” study of how travel is researched and booked online by consumers. The research, conducted by comScore, found that during the second and third quarters of 2017 TripAdvisor reached 60 percent of all travelers globally, while for the U.S. alone the figure was 67 percent. The study also found that on average travelers take a month or more to plan and book their travel. During the travel planning period the most visited site by consumers is TripAdvisor, followed in order by, Trivago, and Expedia. Full Story Here:

U.S. Hotels Operating at Highest Level of Efficiency Since 1960

For the eighth consecutive year the U.S. hotel industry experienced increased profits in 2017. This coming despite slowed revenue growth, according to the 2018 Trends in the Hotel Industry published by CBRE Hotels’ Americas Research. In the survey, total operating revenue rose by 2.0 percent for the average hotel in 2017. Properties in the survey saw their gross operating profits increase by 2.2 percent by limiting the growth in operating expenses to only 1.9 percent. Full Story Here:

US Hotel Occupancy Up 6.1 Percent To 68.1 Percent - Week Ending April 14th - 2018

Positive performance figures were posted by the U.S. hotel industry for the week of 8-14 April 2018, according to data published by STR. Compared to the same period last year, industry-wide occupancy was +6.1 percent higher at 68.1 percent. Average daily rate climbed up +5.8 percent to end the week at $130.57. Revenue per available room jumped +12.2 percent higher to reach $88.95 by week’s end. Full Story Here:

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