Friday, June 1, 2018

Hospitality News For The Week Of 6/1/18

After Strong First Quarter CBRE Lifts 2018 U.S. Lodging Forecast

Hotels in the U.S. performed better than expected in the first quarter, prompting CBRE Hotels’ Americas Research to revise its outlook for the remainder of 2018. Data reported by STR indicated that U.S. hotels experienced a 3.5 percent increase in revenue per available room during first quarter 2018, exceeding by a full percentage point CBRE’s earlier forecast of a 2.5 percent increase in RevPAR for the year. In accordance, CBRE is now revising the projected annual increase in RevPAR to be 2.8 percent for 2018. Full Story Here:

PWC Suggests Continued Momentum Into 2019 For U.S. Hotels

PWC is forecasting the hospitality industry in the U.S. will continue the momentum built this year to continue in 2019. Favorable economic fundamentals in combination with a surge in demand from the commercial transient segment are keeping the industry’s outlook positive. Going forward rate growth is expected to be strong due to the increased demand for the remainder of the year and into the next. Full Story Here:

Bleisure travelers are hungry for sunshine, sightseeing and cuisine

Expedia has published the results of a multi-national study of the bleisure (business and leisure) phenomenon. Bleisure travel is booming around the globe with business travelers extending their trips to include leisure time in order to make the most of their travel away from home. The study for Expedia Group Media Solutions was conducted by Luth Research to uncover the behaviors, influences, resources, and preferences of leisure travelers from America, Britain, China, Germany and India. The study found among many other things that among respondents, 60 percent of business trips were extended for leisure purposes during the last year. For American bleisure travelers, this amounts to a 40 percent increase since 2016. Full Story Here:

STR: US hotel results for week ending 19 May

According to data published by STR, the U.S. hotel industry reported mixed performance results for the week of 13-19 May 2018. Compared to the same period last year, industry-wide occupancy dropped slightly by -0.5 percent to 70.2 percent for the week. Average daily rate was higher by +3.5 percent, ending the week at $132.36. Revenue per available room climbed +3.0 percent higher to reach $92.92 at week’s end. Full Story Here:

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