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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.

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.

BOSTON IS THE most expensive city for hotel accommodations in the U.S., according to a recent survey by Cheaphotels.org. Portland was the cheapest city, the survey has found. The survey compared hotel rates across 50 U.S. destinations in October, which is typically the month with the highest hotel prices in most American cities. It specifically focused on hotels with a 3-star rating or higher, located in central areas, Cheaphotels said in a statement. Boston took the lead as the priciest city, with an average rate of $303 for the most affordable double room, the survey said. Following closely were New York City and Austin, with rates of $288 and $257, respectively. Cleveland claimed the fourth spot, with an average rate of $234 for the least expensive room. Notably, hotel rates in Ohio's second-largest city have surged by 25 percent compared to 2022.

GOPPAR OF U.S. hotels hit $65.98 in February, its highest point since October last year and more than $40 more than in January, but down from $90 in February 2019, according to HotStats. However, a rise in expenses could derail a profit rebound, the data analyzing firm said. The payroll expense of U.S. hotels was up to $66.60 per available room in February, highest since the inception of the pandemic, according to HotStats. Though payroll is up 192 percent from its lowest point during the pandemic, it is still down $30 when compared to pre-pandemic numbers. Factors such as inflation, supply chain problems and war in Ukraine are driving costs up. Expense on utilities on a PAR basis are already back to pre-pandemic levels, HotStats said.

Travel, tour, vacation whatever you may call it is an easy way to run from worries and stress but the issue here is the expense. Thing like this should not be that expensive. Here are some tips to save your money.

Some places have it all: the best views, a superb dining scene, beautiful parks and a rich cultural heritage. But all this comes at a price as a recent article published in Britain's The Telegraph revealed, detailing the most expensive cities in the world - globally based on how many prime square metres one million US dollars will buy. We look at the top seven of these 'wonders of the world' to see what exactly makes them so desirable.

His Holiness, Dalai Lama says "Once a year, go some place you've never been before." The quote goes very well with a country like South Africa. For a travelling buff, it is always good to travel to such a place where he or she has never been. South Africa is not only an unusual destination for travel but is also one of the less expensive travelling destinations in the world. Well, being less expensive does not mean it has fewer things to offer to the tourists. In fact the natural beauty of the country will leave any one speechless.

Travelling is more fun when you do not have to incur any extra expenses for accommodation. Though, it sounds a little weird but roaming around a country through motor homes will not only help you save your travel expenses but also visit to all the important parts of the country. From visiting the important places to the parks you can roam everywhere in a motor home. Travelers with kids benefit a lot from these homes.

London has over the years seen scores of tourists throughout the year. London being quite expensive, travelers coming to this city prefer to stay at Discount Hotel London to save on expenses.

Galapagos is famous for many things, including its cost! But why exactly IS the Galapagos an expensive place to go? And is it worth every penny? Oh, yeah!

Most Expensive Bike in the world

Medical care in the United States is expensive. Sometimes even with a good health insurance you can find yourself paying a pretty penny for medical procedures. What if you can get good medical care while enjoying travel abroad. Yes, medical tourism is a thing now and getting popular day by day. You won't believe to experience great medical facilities and luxurious stay sometimes better than the US. On the top of that getting medical care out of the states is much less expensive, it gives you opportunity to travel beautiful places, or just relax far away from your city. Check out all the other benefits of medical tourism, passport and visa requirements, top medical procedures to pick an international destination and other things you should know before you leave.

Taking your vacation to highest pleasure should not be that expensive. There are great tips to consider in taking off for less. Commons tips to remember are:  

Too expensive One of the great misconceptions about cruises is they are out of the price range of the average holidaymaker. This simply is not the case. Yes, it's definitely not a bargain break, but consider the fact that all meals are i ...

Too expensive One of the great misconceptions about cruises is they are out of the price range of the average holidaymaker. This simply is not the case. Yes, it's definitely not a bargain break, but consider the fact that all meals are i ...

Bradley Nelson is the new senior director of facilities at Noble Investment Group, overseeing strategic product quality and directing the capital expense program across the firm's portfolio. He transitions from Spire Hospitality, where he served as corporate director, facilities, overseeing the development and maintenance of facilities and ensuring operational efficiency and sustainability, Noble said in a statement. Nelson previously held positions at Sage Hospitality, InterContinental Hotels Group, Concord Hospitality, and Twin Tier Hospitality, the statement said. "Brad is an outstanding addition to our asset management team, bringing a wealth of experience that will help support the continued growth of our institutional investment management platform," said Steven Nicholas, Noble's managing principal, head of asset management.

The world's to most tourist and modern destination Hong Kong is an island in the South Eastern part of Asian continent known for its expensive skylines and deep natural harbor. Hong Kong has a humid subtropical climate with hot summers and mild winters which is when most people book Holidays to Hong Kong. Hong Kong is world's leading international financial centers.

Start a wonderful year by traveling. It's your moment to feel free so decide a trip to Paris or any place in UK. Enjoy the first month of the years being far from work routines. How to go safe and less expense? Here are some tips.

Over the years known as an expensive destination now also has some budgeted accommodation and cheap holidays to Seychelles as well to suit your pocket. Seychelles Holiday provides you Ultra luxurious hotels and a services that makes you feel as the chosen one and give you a sense of uniqueness that is unmatchable to any destination in the world. Seychelles is also known as the destination chosen specially for weddings by couples around the world.

Bad credit loans are a trouble free monetary aid where any needy people get quick cash support from external resources. With the help of these cash advance you can simply meet your expenses and needs easily on time in hassle free manner. Low credit people can also apply for this loan plan because it is unsecured type of service.

Superlative SEO Services"Skimming over the basic and paying down all you money and time on social media is the same as skimming over cleaning your teeth and showering, but wearing a white expensive sh...