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U.S. HOTELS REACHED record-breaking ADR level during the last week of December, particularly by luxury resorts, according to STR. STR's top 25 markets also led the expansion. Occupancy was 54.3 percent for the week ending Jan. 1, up from 44.3 percent the week before and increased 10.7 percent when compared to 2019. ADR was $157.91 for the week, up from $129.67 during the fourth week and up by 15.1 percent compared to two years ago. RevPAR was $85.74 during the week under review, up from $57.46 the week before and increased 27.4 percent compared to 2019. STR's top 25 markets all together reached almost $200 in ADR, led by Miami with $455.31 and Oahu with $411.47. Norfolk/Virginia Beach recorded the largest occupancy increase during the week, up 25.3 percent to 49.4 percent. Phoenix registered the largest ADR increase, increased 36.9 percent to $155.71.

DALLAS-BASED INVESTMENT firm NewcrestImage became the second largest shareholder in TiffinLabs, a Singapore-based food tech company which operates food delivery-focused virtual restaurant brands, a statement said. Founded in 2020, TiffinLabs introduced numerous virtual brands across Singapore and Malaysia. It started U.S. expansion in Dallas in 2021 and now operates in Chicago, Detroit, Knoxville, and Charlotte. By 2023, it expects to have 1,000 digital storefronts globally and to be operating in 30 U.S. cities. "TiffinLabs offers hotels and restaurants a low cost, turn-key source of incremental revenue for post-pandemic recovery, while for us as investors, TiffinLabs represents a strategic opportunity for long-term growth," said Mital Patel, managing partner of NewcrestImage. Because of the company's shareholder position, Patel now becomes a board member of TiffinLabs.

COMMERCIAL REAL ESTATE lender Stonehill is ranked as the 10th largest U.S. commercial real estate hotel lender by origination volume based on the 2021 Mortgage Bankers Association loan origination rankings. The ranking comes after the company originated $822 million in loans across 30 transactions in 2021 with an average transaction size of $27.4 million. Stonehill is a subsidiary of Atlanta-based Peachtree Hotel Group, led by Jatin Desai and Mitul Patel, who are principals of Stonehill and Stonehill PACE, as well as members of the Stonehill's investment committee. MBA's annual originations rankings report is a comprehensive set of listings of 149 commercial/multifamily mortgage originators, their 2021 volumes, and their different roles. "We are honored to be ranked in the MBA's leading industry list," said Mat Crosswy, Stonehill's president and managing principal. "Our top-ten position is a testament to our commitment to understanding our sponsors' business plans and accomplishing the transactions on their financial deadlines. We have a terrific opportunity to grow further as the hospitality industry is in a sustained recovery cycle. Hotel owners are looking for thoughtful options with capital partners that understand the industry's nuances, particularly considering the impact of the pandemic on hotel operators."

STR HAS UNVEILED the forward-looking component of its product "Forward STAR" in 104 new markets/submarkets across the U.S. and Canada. Forward STAR, which is presently live in 450 areas around the globe, allows hotel property and portfolio users to benchmark the next 365 days of occupancy on the books against the competition and market. "This launch represents our largest Forward STAR expansion to date and adds significant value to our overall benchmarking offering," said Amanda Hite, STR's president. "Adding to the historical data that drives so many operational decisions around the industry, this directly sourced forward data provides intel into where hotels can gain available business, adjust their approach to pricing, and implement actions around market events. When combining historical metrics, profitability data and these forward bookings insights, industry stakeholders are positioned to analyze performance from every angle." According to the statement, Forward STAR was launched in 17 of the country's 25 largest hotel markets, including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix. More granular submarkets were added with the addition of central business districts in markets such as Austin, Chicago, Nashville and New Orleans as well as airport submarkets in areas such as Miami, San Francisco and Bradenton, Florida.

A NEW ENVIRONMENTAL, social and governance report released by Choice Hotels International highlights steps that would allow the company to reduce utility costs, save time for franchisees, and increase Choice's ESG commitments. Those steps include new energy- and water-saving technology, diversity goals for hotel ownership and more. The report entitled "Building a Better Tomorrow, Today" lays out the company's plan to being a good corporate citizen, according to a release. "Choice Hotels shares a uniting belief that tomorrow will be even better than today, and we are committed to building that better tomorrow," said Patrick Pacious, Choice's CEO, in the report. "As one of the largest lodging franchisors in the world, we are building on more than 80 years of success in developing a portfolio of diversified brands and creating a lasting, sustainable legacy for the future - one hotel, one family, one community at a time." Key findings The report further details measures being undertaken by Choice to integrate ESG standards and principles into its long-term decision-making and operations, including: Reporting Scope 1 and Scope 2 greenhouse gas emissions for the first time and aligning ESG disclosures with the Sustainability Accounting Standards Board standards and the United Nations Sustainable Development Goals. Appointing an executive with knowledge of the business as vice president, sustainability and creating two new ESG governance forums to strengthen Choice's ESG strategy and execution. Joining the Sustainable Hospitality Alliance, a global network that champions responsible hospitality, and becoming one of its largest members. Relaunching HERtels by Choice, driving a 53 percent year-over-year increase in the company's hotel franchise deals with woman owners. Committing $25 million in incentives for contracts with underrepresented minority and woman owners by 2025. Setting a goal to increase the representation of women in senior leadership roles to 50

NEW YORK LEADS the top 50 U.S. markets in hotel construction with 47 projects and 7,655 rooms currently underway, according to Lodging Econometrics. The city has a total of 78 projects and 13,549 rooms in its hotel construction pipeline, the 10th largest in the U.S. Projects set to start in the next 12 months include eight projects with 1,079 rooms, while early planning includes 23 projects with 4,815 rooms, according to LE's Q1 2024 Market Trend Report for New York, released before the NYU International Hospitality Industry Investment Conference. Within the New York market, the three submarkets with the largest hotel construction pipelines are the New York City area (including Brooklyn East, the Bronx, and Staten Island) with 25 projects and 2,096 rooms, the report said. Similarly, the Midtown South area features 11 projects and 2,535 rooms, while the Midtown West/Times Square area has 10 projects and 4,131 rooms. Combined, these submarkets account for 59 percent of the projects and 65 percent of the rooms in the market's total construction pipeline.

Ready for a sneak peek of the Marine Life Park?

Planning a wedding proposal? Why not do it at the world's largest oceanarium? See how hundreds of guests and thousands of marine animals played witness to this couple's engagement at S.E.A. Aquarium's Ocean Gallery.

Cape Town International airport is the Second largest airport in South Africa after Johannesburg airport, and along with Jo burg airport is the main gateway to the natural spectacle of this country.

Dubai is the second largest city in the United Arab Emirates (UAE) and also considered as the best Tourist place in UAE. If you would like to visit Dubai , then you need to apply for a Dubai Tourist Visa before arrival. You will need to provide personal documents and travel reservations. For more details visit our website http://www.dubaivisas.in/book-now

Dubai is the second largest city in the United Arab Emirates (UAE) and also considered as the best Tourist place in UAE. If you would like to visit Dubai , then you need to apply for a Dubai Tourist Visa before arrival. You will need to provide personal documents and travel reservations. For more details visit our website http://www.dubaivisas.in/book-now

Cozumel is the largest island in the Caribbean. Since its famous for being the favorite place for water sports, nature and adventure lovers, many tourists visit the island every year to enjoy the clean blue and green waters which have great clarity, the amazing beaches and also for experiencing various water sports there.

Cozumel is the largest island in the Caribbean. Since its famous for being the favorite place for water sports, nature and adventure lovers, many tourists visit the island every year to enjoy the clean blue and green waters which have great clarity, the amazing beaches and also for experiencing various water sports there.

Among the islands of Hawaii the Maui is the second largest island which area covers 727.2 square miles (1,883 square kilometers) and in the United States is the 17th largest island. For the Hawaii State Maui is a part, among the Maui count's four islands is the largest. Maui is bigger than the unpopulated Kahoolawe, Lanai and Molokai. Maui had the population of 144,444 in 2010, in the Hawaiian Islands which is the third highest, behind the Hawaii and Oahu Island.

Europe's first underwater restaurant, and the largest of its kind in the world, has opened in Norway. 'Under', which also means 'wonder' in Norwegian is located 5m below the North Atlantic sea off the coast of Lindesnes on the southern tip of Norway and is able to seat 100 guests.

Experience the largest city of Puerto Rico which is San Juan and the adventure holidays that this city has to offer in abundance. From the old parts of San Juan to new San Juan there are points of interest in numbers that you will hardly be able to count.

Experience the largest city of Puerto Rico which is San Juan and the adventure holidays that this city has to offer in abundance. From the old parts of San Juan to new San Juan there are points of interest in numbers that you will hardly be able to count.

Tulip Garden is a largest Garden in Asia, and it is spread over 5 hectares and above 60 varieties of tulips are grown. Festivals in J&k India, Jammu and Kashmir Festivals, Pictures of Kashmir, Tulip Festival 2013.

Buenos Aires is the capital city of the Argentine Republic and is also the largest city of the country and of whole of Latin America.This is a city which has lot to offer many things culturally and serves as the major gateways in to the country itself.

Adelaide offers its visitors an insight into the most explosive and colorful world of amazing Australian art and cuisine read on to know more.The capital city of the South Australia, Adelaide is the fifth largest city in Australia which is marked with wide boulevards and large public squares, and entirely surrounded by the green lush parks.