Friday, July 20, 2018

Hospitality News For The Week Of 7/20/18

U.S. Hotel Industry Reaches 100 Consecutive Months Of RevPAR Growth

The U.S. hotel industry enjoyed its 100th consecutive month of growth in revenue per available room in June 2018, according to data published by STR. The current 100 month streak began in March 2010 and is the industry’s longest since the end of a 112 consecutive month growth period between December 1991 and March 2001. STR is forecasting revenue per available room to continue growth at the rate of 2.9 percent for the remainder of 2018 and 2.4 percent for 2019. Full Story Here:

PolyU Study Finds Food Tells Stories on Social Media

The School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University has published the results of a study of the motivations behind the social media sharing of travelers. The researchers interviewed 33 social media users from South Korea regarding their food-related experiences while traveling. South Korea was chosen because the nation leads the world in social media usage. The research identified 17 themes and categorized them into social and relational, self-image projection, emotional articulation, archiving self-information sharing. According to the researchers, social media posts are considered trustworthy because of firsthand experience with the travel destination or product. Full Story Here:  

Survey: Compensation, Career Advancement Keys to Attracting Employees

The International Society of Hospitality Consultants (ISHC) recently conducted a survey of its membership regarding critical issues impacting the hospitality industry. According to the survey results, 43 percent of the members in the survey believe better compensation in the form of higher salaries and performance-based pay to key in improving hospitality’s employment outlook. Secondly, with 30 percent of respondents, career advancement was seen as most critical. Other key factors mentioned by the membership were benefits, flexibility, training and recruitment. Full StoryHere:

STR: US hotel results for week ending 14 July

Mixed performance results were reported by the U.S. hotel industry for the week of 8-14 July 2018, according to data from STR. Compared to the same week last year, industry-wide occupancy dropped by -1.6 percent to 76.1 percent for the week. Average daily rate was higher by +1.2 percent to reach $132.14 by the end of the week. Revenue per available room was down -0.4 percent, ending the week at $100.56. Full Story Here:

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