Group items tagged

GOPPAR FOR U.S. hotels improved in September compared to the month before and it exceeded the pre-pandemic levels, according to STR. Meanwhile, the cost of labor per available room came in higher than the pre-pandemic comparable for the first time. GOPPAR was $84.03 for the month, up from $64.26 reported in August. It was $78.30 for July and $91.23 in June. The performance index was $88.63 in May and stood at $90.96 in April. EBITDA PAR was $60.71 for September, TRevPAR was $222.97 and labor costs per room were $71.52. "Labor costs moved ahead the 2019 comparable due to continued high levels of hospitality unemployment and more spending on contract labor," said Raquel Ortiz, STR's director of financial performance. "Total labor costs were up 5 percent year to date, with all departments reporting higher expenses, except F&B, due to less group demand earlier this year. GOPPAR was the strongest since June 2022, and profit margins came in higher than September 2019. Profit margins have been strong for some time caused by lower employment levels and reduced services."

ANNUAL CHANGES IN U.S. hotel utility costs and in the Consumer Price Index, or inflation, have historically proven to be strongly correlated. As of August 2022, CBRE is forecasting CPI growth to be 7.7 percent in 2022, followed by another 3.6 percent in 2023. Since inflation has averaged just 2.2 percent since 2000, these inflation projections have hoteliers concerned about operating costs. Given that rising energy costs are a significant driver of the current rise in CPI, hotel managers are especially worried about utility department expenses. Over the past 50 years, utility department expenses have averaged between 3 and 4 percent of total revenue, indicating that hotel managers have been successfully controlling energy costs in the face of fluctuating business volumes. This is particularly commendable given the highly fixed nature of utility expenses. To provide some context to the current challenging environment, we studied recent trends in hotel utility department expenses. The data come from a sample of more than 2,800 U.S. hotels that reported utility department expenses each year from 2015 through 2021 for CBRE's annual "Trends in the Hotel Industry" survey. In 2021 the properties in the sample averaged 209 rooms in size, with an annual occupancy rate of 54.2 percent and an average daily rate of $152.70.

The recent PR blunder of the United Airlines has increased everyone's interest in the story behind these low cost airlines. What they do to cut down the ticket prices and are they worth it? What happened with the United customer has made us all frown upon these airlines and prompted us to find everything hidden behind these low price tickets. So, PassportInfo.com has dug a little deeper here to tell you what is the big deal about these low cost airlines. Check out!

GOPPAR FOR U.S. hotels dropped in July but once again exceeded 2019 levels for the fourth consecutive month, according to STR. The summer peak still brought an increase in demand, but the cost of ramping up to meet that demand cut into profit margins. GOPPAR was $78.30 for the month, down from $91.23 reported in June. It was $88.63 in May and stood at $90.96 in April. EBITDA PAR was $55.29 for July, TRevPAR was $209.66 and labor costs per room were $67.27. "While each of the key bottom-line metrics decreased slightly from June on a per-available-room basis, total profits increased with peak summer room demand and revenues," said Raquel Ortiz, STR's director of financial performance. "Profit margins were stronger than July 2019 for both full- and limited-service hotels, but GOP margins were at lower levels than the previous four months. The dip in margins can be attributed to higher expenses associated with more ramped-up operations as well as the general rise in costs around the country. Rising wages are being somewhat balanced by hotels using more contract labor and reducing benefits costs."

THE MAJOR CHALLENGES faced by U.S. hotels are labor, the return of corporate, group and conference travel, the impact of inflation on cost lines and the energy crisis, said Michael Grove, COO of HotStats, in a recent presentation. In the same session at the International Hospitality Investment Forum, panelists debated the best metric by which to measure industry performance. While speaking during a panel session at IHIF titled "Decoding the Data", Grove said that the most pressing issue is fixed costs are being replaced by oncoming growth in the variable areas which changes the dynamic of the cost base. "One of the key items around the average rate growth is what's going to happen when the full business mix returns," Grove said. "We still have a lot more of the lower-rated business to come back-the tours and groups and the other segments. We need to look at the impact on the cost lines themselves, the expense items around the P&L and what impact inflation is having on those, what impact the labor challenge is having.

IN 2020 AND 2021, U.S. hotel operators did a praiseworthy job controlling expenses to offset the significant declines in revenue. Based on data from CBRE's Trends in the Hotel Industry survey of annual operating statements from thousands of properties across the U.S., not only have we seen a reduction in the variable expenses associated with the drop in business volume (i.e., occupied rooms, restaurant covers), but also in cuts among what were previously thought to be fixed expenses. During this time period, insurance costs were out of operators' control. Per the 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI), insurance expenditures are classified as a non-operating expense and reported on the summary operating statement below gross operating profits. The insurance expense line item includes property insurance for building, contents, and business income from all perils, as well as general liability and excess liability insurance. The insurance expense category does not include workers compensation insurance, which is allocated to the operated and undistributed departments. To analyze recent changes in hotel insurance costs, and the factors that influence those changes, we examined the operating statements of 3,156 U.S. hotels that reported insurance expenses for the Trends survey each year from 2015 through 2021 (estimated). The following paragraphs summarize the findings from our analysis.

GREEN BUILDING INCENTIVE database IncentiFind is working with the American Hotel & Lodging Association to assist AHLA members identify sustainability-driven cost savings. IncentiFind provides more than half a million incentives, such as tax credits, grants, fee waivers, rebates, and bill credits. The collaboration empowers hoteliers to access $70 billion in incentives, AHLA said in a statement. AHLA said that these credits bolster the adoption of green initiatives, including energy efficiency, renewables, water conservation, and more. These efforts are aimed at diminishing operational costs for hoteliers, the association said. As part of this partnership, AHLA members will receive special pricing on IncentiFind's VERIFY Report, which identifies rebates and savings for asset upgrades, such as buying energy-efficient appliances or installing solar panels. AHLA's collaboration with IncentiFind represents the association's ongoing efforts to promote sustainability in the hotel industry through the Responsible Stay initiative. This initiative underscores AHLA members' dedication to energy efficiency, water conservation, waste reduction, and responsible sourcing, the statement said.

THE U.S. HOTEL industry will be well on the way to recovery in 2022, according to consulting firm HVS Americas. However, a full recovery in real terms, after adjusting for inflation, remains a few years away, it added. With more assets, both distressed and well performing, expected to come to market this year, 2022 will be an exciting year for the industry, said Rod Clough, president of HVS, in an article titled 'ALIS 2022 Takeaways - Our Industry Braces for a Big Year Ahead'. A near full recovery in RevPAR at $85 for U.S. hotels is likely to happen by the end of 2022 when compared to $86 in 2018-19. "The higher inflationary environment will continue to bode well for hotels, resulting in ADR pricing power leading to a lift in revenue on top of still lean operational models. Group travel is still lagging the recovery, but near-term, smaller-group bookings (at newly raised room rates) should help bridge the gap while the industry waits for larger meetings to return," Clough wrote in the article. "Rising development costs due to supply-chain disruptions, labor shortages, and overall inflation are leading to a general contraction in new hotel openings. Moreover, development challenges are intensifying for major CBDs, attributed to slow office re-openings, a lag in larger convention bookings, higher operating/labor costs, and even higher construction costs than your average project."

USING TECHNOLOGY TO enhance the attendee experience remains a key trend for meeting and event planners as they expect meetings volumes to rise, according to a survey. The tech trend is closely followed by a focus on diversity, equity, and inclusion and a more casual meeting atmosphere. The 2023 State of the Meetings Industry survey by group hospitality analytics firm Knowland and full-service global meetings solution company, ConferenceDirect, also revealed that staff shortages and inquiry backlogs are impacting service standards as rising costs redefine goals. The survey also pointed out that rising costs may cause planners to change their approach, including looking at new destinations. However, cost leveling, return of business travel, and budget increases will support the industry recovery. According to the survey, more than 70 percent of 2022 events had attendance at, or above, 80 percent of 2019 levels. As many as 75 percent of event planners did not expect the number of events and meetings to drop.

U.S. HOTEL REVENUE and profitability saw a rise in October, propelled by increased group demand across the top 25 markets, according to CoStar's October 2023 Profit & Loss data. Meanwhile, the U.S. hospitality industry also witnessed its largest year-over-year increases in GOPPAR and TRevPAR since March 2023. In October, GOPPAR reached $97.45, marking a 3.7 percent increase from the same month in 2022. TRevPAR stood at $240.74, indicating a 4 percent increase, whereas EBITDA PAR amounted to $69.60, down 1.2 percent from September 2022. Labor costs notably rose to $74.48, reflecting a 5.9 percent increase. "The top 25 markets have demonstrated an 11 percent year-to-date increase in GOPPAR, surpassing a 14 percent rise in labor costs," said Audrey Kallman, research analyst at STR. "This double-digit GOPPAR growth is over 10 times the level observed in all other markets. New York City, a prominent business-centric market, spearheaded growth in the metric across major markets both on a year-to-date and monthly basis."

Tejas Travel's aim is to provide safe and comfortable journey with luxuries inside. We have services in Karnataka as well as all major cities in south India. We have our own progressive technology garage that assures all our motor vehicles are perfect and 100% fit for travel.Online advanced booking for customers to plan their travel before. Why Tejas Bus Travels First preference to safety and comfort journey rather than profit. Our specially trained drivers, ground staff reach you to destinations safely. Luxury feeling at very reasonable cost. For corporate, schools it will helpful to manage business with expeditiously and cost effectively. No compromising in maintaining of buses. Services can be obtained by rental basis and lease basis also. Usage of green fuel to reduce pollution in considering the global warming. Our Clients Our Corporate service Clients are "Lumax, Mahendra Aerospace, Accer and Kinte" Our Office is located in Hoskote and Marathahalli in Bangalore. For more information visit our tejas website

Niseko has a far higher visitor place of resorts and usually has more features at the high-class end of the market than Hakuba. At the most cost-effective end of the variety, Hakuba ski hotel has several very cost-effective coming back packers such as Install Hakuba climbers where you can ranking a bed for the night for around $30 per night.

Looking For Low Cost Hotels in Jaipur, India ?? Your Search Ends Here at Hotel Bagga Vilas. We are Low Cost Hotels In Jaipur and here You will find the best accommodation at very economical and Low Price.

The Sun Group-owned carrier - SpiceJet - is all set to take over the Indian aviation market. After dealing with the financial crisis, it has showered discounts and schemes on domestic and international fares. These offers announced by this low-cost carrier (LCC) started fare war in the market. In an attempt to tackle this price based competition, the cost of other domestic airlines tickets was also slashed. After offering flight seats at INR 599, SpiceJet is now offering One Stop Sale. Under this, travellers can book flight tickets at INR 2999 (all-inclusive).

Apply for Australia PR now by consulting Kansas Overseas Careers experts. Know about fee and cost for obtaining the Australia PR and eligibility requirement, documents required, point's required. Call us @ 040-40307077 or schedule an appointment @ https://www.kansaz.in/schedule-an-appointment

"A home where you treat your friends like family and your family like friends" A homestay is similar in concept to that of a bed and breakfast. Guests stay here just like they live in their homes. Nowadays, most of the homestays provide their guests with just as much comfort as any decent hotel. Homestays are considered to be more spacious because you get access not just the room but common areas of the house as well. Interestingly, there are no hidden costs which makes it a more cost-effective option. We get a plethora of options if you can put a hand on cooking as there is direct access to the kitchen or kitchenette. This is like a heaven for travelers who only eat home-made food. Listings, especially on Eden Homestay, are relatively economical than majority of hotels when compared head to head inclusive of their business and tourism appeal. Experienced voyagers may likewise prefer homestays during their scheduled trip. Length of stay changes from one night to a month or can be extended for even a longer period. Hosts are open to welcoming and give an agreeable, present-day home understanding. Eden Homestay Our platform offers a wide range of stay options enabled with essential facilities and amenities to meet the industry standards for travelers looking for local culture and lifestyle, home-prepared nourishment, experience an alternate accommodation which they can experience with bliss. Recommended homestays on our platform will have the "Featured" badge that will have the highest level of eligibility criteria to match even the international guests' expectations. Apart from being traveler-friendly accommodation where guests visit another person's house it also can be referred to as family-friendly accommodation. Our hosts treat their guests as an ultimate priority because "Guest is like a god to us" in our India where there is much happiness for travel and tourism. Homestays like ours are extraordinary for solo female explorers as you'll

Trivoyage has shortlisted top 10 Low Cost Budget Friendly Beach Destinations in USA for you to pick for your next holiday season

Do want to travel by a low-cost airline and save money for other things? Well, then we highly recommend you to book your flight tickets with Spirit Airlines. It is one of the most popular and widely traveled low-cost American airlines in the world.

THE U.S. HOTEL industry is on track to full recovery from the COVID-19 pandemic, according to STR's latest industry forecast. Progress may be uneven, however, as some obstacles, such as labor costs, still remain. ADR will near full recovery in 2022, averaging $130 while occupancy for the year is predicted to reach 63.4 percent. RevPAR's average for the year is set to be $82,down 4 percent compared to 2019, but it is expected to be fully recovered in 2023, according to the forecast given at the 43rd Annual NYU International Hospitality Industry Investment Conference. STR and Tourism Economics said changes in the nation's economy warranted the new forecast. "We have essentially moved up the top-line recovery timeline by one year, with the caveat that improved RevPAR projections are largely due to ADR," said Amanda Hite, STR's president. "ADR has risen more rapidly than we expected-in some cases, that rise was due to strong demand confronting capacity constraints, which enabled solid revenue management, while in other cases, the rise was more influenced by inflation. When adjusted for inflation, RevPAR is further off the pace and will likely remain below 2019 levels until at least 2025. Other than the first quarter of 2021, demand has mostly adhered to the forecast with strong leisure travel, slowly improving group business and an expected progressive increase in international arrivals next year. Of course, these are all national projections of top-line performance. Recovery is not playing out the same across the marketplace, and as noted in our latest monthly P&L release, the cost of labor is adding pressure on the bottom line, which is a contributing factor to many hotels driving rate. Recovery is progressing at a solid rate no doubt, but there will still be plenty of ups and downs along the way."