Friday, June 22, 2018

Hospitality News For The Week Of 6/22/18

HITEC Houston Makes History as HFTP’s Highest Attended Event in 65+ Years

This week in Houston, TX the Hospitality Industry Technology Exposition and Conference (HITEC) was held by the Hospitality Financial and Technology Professionals (HFTP). The event was the highest attended in the association’s history and attracted 6,650 attendees from June 18-21, 2018 to the George R. Brown Convention Center. HITEC Houston featured 120 speakers and 397 hospitality technology company exhibitors on the floor, including Above Property. Full Story Here:

AAA: Nearly 47 Million Americans Will Set New Independence Day Holiday Travel Record

According to data published by AAA, 46.9 million Americans will be traveling more than 50 miles for the Independence Day holiday this year. This represents a five percent increase over 2107 and a new record since AAA began tracking eighteen years ago. A number of factors are contributing to travel surge including strong economic variables and the fact that the holiday falls on a Wednesday, giving travelers the flexibility to schedule their trip around either the weekend before, after or both. Full Story Here:

Travelers Losing Interest In Home-Sharing - Phocuswright

Despite much industry concern regarding Airbnb steering guests away from hotels, interest in home sharing is on the decline with travelers. According to the results of a survey of nearly 3,000 U.S. adult travelers conducted by MMGY Global and published by Phocuswright, only 33 percent have an interest in sharing economy accommodations. This is down from 41 percent in 2017 and 37 percent in 2016. In comparison, 75 percent have an interest in staying at a large branded hotel, 66 percent for suite-based properties and 61 percent expressed interest in limited-service hotels. Full Story Here:

STR: US hotel results for week ending 16 June

STR is reporting the U.S. hotel industry posted mixed performance results in year-over-year comparison for the week of 10-16 June 2018. Compared to the same week last year, industry-wide occupancy fell slightly by -0.3 percent to 74.2 percent for the week. Average daily rate however was up by +2.0 percent to finish the week at $131.72. Revenue per available room was higher as well, going up +1.8 percent to end the week at $97.70. Full Story Here:

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