STR Predict For U.S. Hotels To Be Full Recovery This Year - 0 views
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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."
STR: U.S. hotels profits recovering from Omicron dip - 0 views
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THE OMICRON VARIANT of COVID-19 has come and, for now, gone, and U.S. hotels are recovering quickly according to STR. The recovery does come after a slight dip in GOPPAR. That dip was a $20 decline in January, but GOPPAR rose to $58.88 in February, the highest since October, according to STR's P&L report for the month. TRevPAR for the month was $169.77, EBITDA PAR was $39.29 and labor costs were $56.63. All also were increases over January. In 2021, U.S. hotel profits reached 52 percent of pre-pandemic levels, according to STR. "Following trends in top-line performance, U.S. profitability levels are recovering more quickly from Omicron than with previous variants," said Raquel Ortiz, STR's director of financial performance. "February GOPPAR was roughly 77 percent of the 2019 comparable, but independents (108 percent), luxury (94 percent) and midscale (88 percent) chains were far above the national average. The upper upscale (67 percent) and upscale (70 percent) segments are where the largest deficits persisted.
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Travel Guides Australia - 45 views
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Online guide for Australia tours and travel. Find out about places to visit in Australia, things to do, accommodation, attractions, events, hotels and much more
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About Vietnam Travel Advisor Vietnam Travel Advisor is a travel agency & DMC based in Vietnam. with fully licensed International tour company. Head office is located in Long Bien district near old quater the centre of Hanoi, with also two office in Danang city and Ho Chi Minh City. We also expanded to cover Indochina, Myanmar, and Laos, cambodia . We focus on Vietnam package tours, vietnam Daily Tours, Vietnam Daily Tours, Vietnam honeymoon Tours, Vietnam Adventure Tours , Vietnam Trekking Tours, Halong bay cruise, Sapa Tours, Ninh Binh Tours, Ha GIang Tours also Danang, Phong Nha, Hue , Hoian , Nha Trang , Dalat, Phu Quoc island, Saigon Tours, Mekong delta multiple ranges of set departures or tailor-made Itineraries with the aim of offering high-end service qualities. Who are we? Vietnam Travel Advisor is one of the leading Tour Operators in the Vietnam , providing services for groups and individuals to Vietnam, Cambodia, Laos and Myanmar. Founed in 2018 by Mr Nhat Nguyen qualified professionals with more than ten years of experience in the tourism industry tourism as tour guide , tour operator, director of sale, tour leader with our experience has constantly strived to provide a high quality service to all of our clients for corporate tour, private tours, and group tours, costomized tours. The Goal of Vietnam Travel Advisor Vietnam Travel Advisor is committed to providing a professional service to our customers, ensuring they benefit from our experience, unique style and energy. A highly visible, independent and progressive travel agency, we aim to make a difference in everything we do. Environmental impact. We also ensure our tours have a minimal impact on the natural environment, while remaining respectful and observant of local customs and supportive of local economies We selectively cooperate with trusted partners including hoteliers, cruise lines and local suppliers to ensure the services we provide do not adversely affect the local e
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Best hotel in Adelaide, Australia - 0 views
I'm staying at Jasper Motor Inn right now, which is conveniently positioned 2.2 miles from Victoria Square and 2.5 miles from Adelaide Central Market. The rooms here provide excellent amenities suc...
Unlocking the Mystery: U.S. Hospitality Labor Trends 2023 - 0 views
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U.S. HOSPITALITY SECTOR has consistently maintained the highest quit rates by workers among all industries, consistently exceeding 4.5 percent since July 2021, according to the U.S. Chamber of Commerce. However, the leisure and hospitality sector maintained the highest hiring rate among all industries, fluctuating between 6 percent and nearly 19 percent. These industries saw a loss of 837 thousand workers in September, yet 1.1 million individuals were hired into the industry during the same month. This hiring rate exceeds the national average, which was 3.7 percent in September 2023, the U.S. Chamber of Commerce said in its latest report titled Understanding America's Labor Shortage: The Most Impacted Industries. The latest jobs report from the Bureau of Labor Statistics reveals a positive influx of individuals into the workforce.
Noble Group partners with Host Hotels & Resorts to explore new opportunities - Asian Ho... - 0 views
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REAL ESTATE INVESTMENT management firm Noble Investment Group partnered with Host Hotels & Resorts to tap and expand travel, leisure and hospitality opportunities, a statement said. As part of the initiative, Host will invest $150 million as a limited partner in an existing Noble investment vehicle and provide Noble with first-look at select-service and extended-stay hotel opportunities sourced through Host's channels. Host also will become a minority investment partner in Noble's fee-based asset management business, according to Noble's press release. "As we continue to expand our institutional investment management platform, this strategic partnership further augments Noble's ability to develop, source, and execute innovative growth strategies in travel, leisure, and hospitality," said Mit Shah, Noble's CEO. According to the statement, the partnership will combine Noble's operational expertise and development acumen with Host's scale, market insights, data analytics, and breadth of resources. They aim to source differentiated investment strategies including property technology solutions, development, and alternative lodging.
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Budget Tours India - 59 views
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MagicalHolidays offers budget tours and holiday packages in India. Know about exclusive winter holidays packages by Indian Tours and Travel Company. Find best deals in India and international holiday packages.
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fortuner on Rent - Fortuner Car Rental - Fortuner Wedding Car - 0 views
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Tejas Tours offers excellent Fortuner services for travel within bangalore and outstation purposes. Fortuner rentals at Tejas Travels can be availed easily at the booking section online. Fortuner booking can be done as per your requirement, our online Fortuner booking section on the website will furnish all the details. Rates for the Fortuner on hire in bangalore with Tejas Travels are finalized carefully to be the best in the market. Get rewarded for your first booking with tejas travels
Report: Extended-stay hotels' Q1 RevPAR down 1.6 percent, revenue up 1.5 percent - 0 views
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U.S. EXTENDED-STAY hotels experienced their first quarterly decline in RevPAR since the first quarter of 2021, according to The Highland Group. In the first quarter, the segment saw a 1.6 percent drop in RevPAR, despite a 1.5 percent increase in revenues. Demand increased by 1.7 percent, contrasting with a 2.8 percent fall in total hotel demand when excluding upper upscale and luxury segments. STR/CoStar estimated that overall hotel RevPAR, excluding upper upscale and luxury segments, which have minimal extended-stay room supply, increased by 1.3 percent in the first quarter of 2024 compared to the same period in 2023. The Highland Group's 2024 First Quarter U.S. Extended-Stay Hotels report indicated that overall hotel RevPAR and room revenues declined by 1.1 percent and 0.9 percent year-to-date, respectively, excluding upper upscale and luxury segments.
Hihotels adds eight new properties across five states - 0 views
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Eight new Hihotels by Hospitality International properties recently opened in five states: three in Texas, two in Pennsylvania, and one each in New York, Vancouver, and Ohio. The company provides franchising options across its five brands including Scottish Inns, Red Carpet Inn, Master Hosts Inns, Downtowner Inns, and Passport Inn. In Texas, the three properties include Scottish Inns - Eastex Freeway North in Houston, owned by 59 Little York, Inc. under Sandip Sindha's leadership; Scottish Inns in Decatur owned by Sunlight Partnership LLC led by Leena Patel; and Scottish Inns & Suites in Shenandoah/Woodland owned by Anjali Hospitality LLC under Mahesh Patel's guidance, Hihotels said. In Pennsylvania, two hotels have opened: Scottish Inns in Middletown, owned by Sky Hotels LLC led by Rajan Vesuwala; and Red Carpet Inn & Suites in Philadelphia, owned by Vrisha Lodging LLC led by Kiran Patel.
50 Seater Bus On Rent Marathahalli - 0 views
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Looking for Budget or luxury 50 seater bus/coach rent from Mysore/Bangalore to Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Goa, Pondicherry?. Yes, you are in the perfect place, we Tejas tours and travels rent 50 seater bus A/C or Non-A/C with the driver. Find exclusive bus travels as bus rentals, and bus hire at Tejas Travels. Book your bus on rent for the day at pocket-friendly and reasonable prices and make every journey a memorable one. Our ac buses are perfect as mini tourist buses for any group trip of 50 members Plus. Tejas Travels bus booking for marriage is extremely in demand in marathahalli and for outstations.
Smith named Stonebridge president and CEO, founder Dimond moving to chairman - 0 views
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ROB SMITH WILL become president and CEO of Stonebridge Cos. in July. He succeeds Navin Dimond, who founded the Denver-based hotel management company in 1991 and will now serve as chairman. In his new role, Smith will lead the development and execution of the organization's long-term strategies and report to the board of directors, Stonebridge said in a statement. "I am proud of the success our team has achieved as we've built the distinct Stonebridge brand over more than 30 years-and am confident that the best is yet to come," said Dimond. "Rob epitomizes our culture of leveraging innovation and an entrepreneurial spirit to enhance value for our owners, investors and other stakeholders. His extensive, successful track record makes him the ideal person to advance our growth strategy. I look forward to working closely with Rob to take Stonebridge to the next level of growth."
AHLA: U.S. hotels add 700 jobs in May despite workforce challenges - 0 views
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U.S. HOTELS ADDED 700 jobs in May, highlighting persistent workforce shortages, with 191,500 vacancies since early 2020, according to the American Hotel & Lodging Association. However, a survey by AHLA of hoteliers in May found 76 percent of respondents are experiencing a staffing shortage and 13 percent reported they are severely understaffed, meaning the shortage is affecting their hotel's ability to operate. By comparison, in a January survey, 67 percent said they were experiencing a staffing shortage, and 72 percent said they were unable to fill open positions. Total hotel employment is now approximately 1.92 million, according to the Bureau of Labor Statistics. This is still 191,500 short of pre-pandemic levels in February 2020, highlighting the ongoing struggle to find workers.
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