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THE REVPAR OF U.S. hotels is expected to surpass 2019 levels this year, according to the upgraded forecast by STR and Tourism Economics. Still, full recovery may be a couple of years away. ADR and RevPAR for U.S. hotels are forecasted at $14 and $6 higher in 2022 respectively, when compared to 2019, the report presented at the 44th annual NYU International Hospitality Industry Investment Conference stated. However, occupancy in this year is projected to come in under the pre-pandemic comparable. Earlier, the forecast projected nominal RevPAR recovery in 2023. According to the forecast, the major factor in the revised timeline was a plus $11 adjustment in 2022 ADR. But, when adjusted for inflation, full recovery of ADR and RevPAR are not projected until 2024. The report added that central business districts and the top 25 markets are not expected to reach full RevPAR recovery until after 2024.

COMMERCIAL REAL ESTATE direct lender and Peachtree Group affiliate, Stonehill, completed $1.2 billion in investments in 2022. Most were through loan originations and commercial property assessed clean energy financing primarily in the hospitality and retail sectors, a statement said. The investment includes $813 million in loans and $163 million as CPACE financing and the remaining $269 million was distributed across the industrial, land, mixed-use, multifamily, office and senior living real estate sectors, the company said. Stonehill said that its 2023 target is $1.5 billion and expects to invest $300 million in the first quarter. "Economic volatility coupled with uncertainty surrounding interest rates has severely decreased overall financing availability with capital providers. However, Stonehill not requiring capital markets execution has allowed it to remain active and to fill the gap in lending supply," said Mat Crosswy, Stonehill president and principal. In May 2022, Stonehill formed Stonehill CRE with Daniel Siegel as president to expand its commercial lending business. It focuses on heavy transitional assets and sectors of the credit market that are traditionally undersupplied. "We have spent years working on our capital formation, specifically so that we can be active and grab market share during periods of economic uncertainty. Also, by building our CPACE division in 2019, which completed $235 million in CPACE financing for the year, and now with Stonehill CRE, we are better positioned to provide lending solutions to a multitude of the market's current inefficiencies," said Crosswy.

Trips are meant to be fun, and you don't want to waste time scouting every rental in town, yet want the best means. You could now go online, pick a rental, and plan your trip in a couple of minutes. A group trip is tricky, but you can now get the best means of transport and not worry about anything as the aggregator would have taken care of when you hire a 10 seater tempo traveler rental from tejas tours and travels

Red Roof Inn Hutchins is now open in Hutchins, Texas. The 41-room hotel is owned and operated by Jay Patel as his first hospitality venture. Red Roof Inn Hutchins is close to Dallas and attractions including the Cold War Air Museum, Trinity River Audubon Center and Trinity Forest Adventure Park, Red Roof said in a statement. Red Roof Inn Hutchins is pet friendly and is part of the RediRewards program from Red Roof. The hotel also takes part in Red Roof's RediClean program. Patel was introduced to Red Roof by a friend and existing franchisee. "Red Roof's team has supported me throughout this project, from start to finish," Patel said. "Special thanks to Alex Shamsuddin, Red Roof's Regional Vice President of Franchise Sales, who collaborated closely with me to secure permits for the ideal location in Hutchins, Texas. The robust logistics industry in our county, coupled with other significant businesses and local attractions, sets our hotel up for success."

BY THE FOURTH quarter of last year, group business in 10 of the top markets in the U.S. had recovered 110 percent compared to the same time in 2019, according to the Hospitality Group and Business Performance Index from Knowland and Amadeus. The top 20 markets have achieved 100 percent of 2019 levels of occupancy and ADR, with 10 surpassing 110 percent or more. Group business reached the 110 percent health index in the fourth quarter because it used 95.5 percent of the group rooms sold in 2019, coupled with a 14.8 percent increase in ADR, according to the index. Overall growth for the year 2023 stood at 103 percent, with 92.5 percent of group rooms sold in 2019 and an accompanying average rate increase of 11.7 percent. Meetings and event business rebounded to 91.9 percent in the fourth quarter compared to 2019, with an end-of-year recovery rate of 91.2 percent. The volume of smaller groups led to stability in the market, according to Knowland. Currently, 70 percent of events have 200 attendees or less and smaller meetings, those with less than 25 attendees, saw the most growth, experiencing a 19 percent increase since 2019.

TOTAL REVENUES FROM extended-stay hotel rooms fell by 0.2 percent in March, marking the first monthly decline in over three years, according to The Highland Group. However, the revenue decline was smaller than the 1.6 percent contraction estimated by STR/CoStar for the overall hotel industry. Meanwhile, extended-stay room supply increased by 2.7 percent in March, a slight uptick compared to the average monthly growth over the past two years, the report said. This marks the 30th consecutive month of supply growth at 4 percent or less, with the annual change remaining below 2 percent for two years. However, both these figures lag behind the long-term average. The 14.2 percent rise in economy extended-stay supply, coupled with a small increase in mid-price segment rooms, primarily stems from conversions, The Highland Group said. New construction in the economy segment is estimated to account for approximately 3 percent of open rooms compared to one year ago.

3H GROUP INC., led by Hiren Desai as president and CEO, broke ground on Caption by Hyatt Chattanooga, Hyatt Hotels Corp.'s inaugural launch of the brand in Tennessee. The upscale 123-room hotel, developed under a franchise agreement, is set to open in early 2026. The company is developing a Hyatt Studios hotel in Mobile, Alabama, slated to open in early 2025. "Our decision to continue our collaboration with Hyatt stems from their unwavering commitment to understanding the needs of both owners and guests," said Desai, also the owner of the Chattanooga property. "Caption by Hyatt is an innovative brand, and that approach, coupled with its flexible design and focus on guest experience makes it an attractive addition to our portfolio. We're excited to bring the vibrant energy of the first Caption by Hyatt hotel to our hometown of Chattanooga and look forward to enriching the local hospitality landscape."

PRICES FOR TRAVEL goods and services decreased by 1.4 percent in June for the second consecutive month, outpacing the overall economy's 0.1 percent decline, according to the latest Consumer Price Index data from the U.S. Travel Association. The Travel Price Index indicated that lower hotel, airline, and gas prices were the primary contributors to the sector's significant price reduction. In contrast, the broader economy experienced its first monthly price decline since 2020, USTA said in a statement. "Now is the time for the travel industry to boost volume," said Geoff Freeman, USTA's president and CEO. "We've already seen travelers take advantage, with eight of the 10 busiest days in TSA's history occurring in 2024. It's essential that the industry is equipped with the right funding, resources and technology - coupled with sustained government focus - to meet an increase in demand."

Maui vacation rentals can be romantic not just for newlyweds, but also for couples who have been married for many years. In addition, families and larger groups can have a blast in Maui, too!

San Antonio and the adjoining "Texas Hill Country" is a wonderful place to vacation for singles, couples and families. By day, the city itself is a treasure trove of history while at night it offers a fantastic selection of restaurants, bars and nightlife. San Antonio is a wonderfully diverse city with much to recommend to visitors and residents. Here are just a few of the highlights and all are within easy reach of the hotels in San Antonio.

Payday loans for self employed make available you complete freedom to take advantage of funds as per your obligation and ability to pay back. The procedure has been made speedy and reachable by making it available online without any issues.

Beach houses in Santa Monica are perfect for couples looking to enjoy a romantic getaway

Indian aviation has been going through a turbulent time for the last couple of years. This has brought about a hike in the prices of domestic airlines tickets and subsequently reduction in passenger flow. The first signs of a sloppy run were seen during the 2008-09 fiscal, when there was a sharp upsurge in the fuel prices.

Are you interested by chartering a private jet Whether you want to take a business trip, a family trip, or a romantic getaway, a privately chartered jet is the right technique to get to your destination. Although privately chartered jets come highly rated and advisable, there are still a couple of points that you have to study, resembling safety. It is no secret that flying the pleasant skies can be dangerous. That is why it is suggested that you simply hold security in thoughts, when arranging the chartering of a privately owned jet.

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There has been a deduction in flight fare in the domestic sector with a couple of carriers reducing the prices of their tickets for the next few days. With the festive season of Christmas and New Year approaching, some of the carriers have lowered their flight fare by as much as 25 per cent. Industry experts have also said that there may be more discounts on offer by other airlines in the days to follow.

India has some super-exotic wedding destinations where a combination of history, heritage and nature helps it to be chased by elite couples. In fact, the grandeur and magnificence of most of these destinations is so vast that they are high on demand almost throughout the year.