Skip to main content

Home/ Tours and travel/ Group items matching "U.S-Hotel-Industry-2024" in title, tags, annotations or url

Group items matching
in title, tags, annotations or url

Sort By: Relevance | Date Filter: All | Bookmarks | Topics Simple Middle
1More

CoStar: U.S. hotels' weekly performance mixed, YOY up in fourth week of May - 0 views

  •  
    U.S. HOTEL WEEKLY performance showed mixed results in the fourth week of May compared to the previous week but posted positive year-over-year comparisons, according to CoStar. Despite a slight uptick in occupancy, both ADR and RevPAR decreased week-on-week across all key metrics. Occupancy rose to 67.7 percent for the week ending May 25, up from 67.4 percent the prior week, reflecting a 1.6 percent year-over-year increase. ADR decreased to $160.67 from $163.11, yet still representing a 2.3 percent surge compared to last year. RevPAR stood at $108.73, a decline from the previous week's $109.93, but marking a 3.9 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the most significant year-over-year boosts in occupancy, soaring 20.9 percent to reach 74.1 percent, while RevPAR surged by 29.2 percent to $89.15. Las Vegas recorded the sole double-digit increase in ADR, climbing by 10.9 percent to $217.53.
1More

U.S. hotel performance improves in third week of May, YOY comparisons up - 0 views

  •  
    U.S. HOTEL PERFORMANCE improved in the third week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key metrics, including occupancy, RevPAR, and ADR, all saw week-over-week increases. Occupancy increased to 67.4 percent for the week ending May 18, up from 66.1 percent the previous week, marking a 0.2 percent year-over-year rise. ADR rose to $163.11 from $162.14, reflecting a 2.6 percent jump compared to last year. RevPAR reached $109.93, up from $107.24 the prior week, showing a 2.8 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the only double-digit occupancy increase, rising 10.5 percent to 67.9 percent. Atlanta reported the highest year-over-year increases in ADR, rising by 10 percent to $137.30, while RevPAR increased by 18 percent to $98.86.
1More

STR and TE upgrade U.S. ADR, RevPAR forecast for 2023 - 0 views

  •  
    STR AND TOURISM ECONOMICS have increased year-over-year growth projections for ADR and RevPAR in the final revision of the U.S. hotel forecast for 2023. While some factors, such as higher interest rates and more restrictive lending, may impact the economy, their effect on the travel industry is not expected to be strong. In 2023, RevPAR saw a 0.3 percentage point increase, propelled by a 0.6ppt rise in ADR growth, according to STR and TE. Meanwhile, recent RevPAR trends affirm rate as the predominant performance driver. Occupancy was downgraded by 0.2ppts, STR and TE said in a statement. Growth projections for key performance metrics in 2024 remained flat from the previous forecast, reflecting the stabilization of long-term average trends.
1More

AAHOA concerned about SC ruling on outdoor sleeping ban | USA 2024 - 0 views

  •  
    THE U.S. SUPREME Court overturned a lower court ruling that found Grants Pass, Oregon's ban on outdoor sleeping on public lands violated the constitution's prohibition of cruel and unusual punishment. AAHOA expressed concerns over the ruling in the case that could push the homeless population into hotels. Previously, the U.S. Ninth Circuit Court held that enforcing city ordinances banning outdoor sleeping did violate the Eighth Amendment's Cruel and Unusual Punishments Clause "whenever the number of homeless individuals in a jurisdiction exceeds the number of 'practically available' shelter beds," according to the Supreme Court ruling. This led to several lawsuits against cities filed by homeless advocates, including one against Grants Pass that led a district court to file an injunction prohibiting the city from enforcing the ordinance. The Supreme Court overturned the district court's holding, saying the city's punishments for violations, including fines in first offenses and imprisonment for multiple violations, did not meet the Eighth Amendment's definitions of cruel and unusual. That ruling has an immediate impact on cities and counties in Oregon and other Western states, according to Oregon media.
1More

Pinal Patel elected as AAHOA's new secretary - 0 views

  •  
    PINAL PATEL WAS elected secretary of AAHOA in the culmination of 2024 AAHOA Convention & Trade Show held this week in Orlando. New members of the association's board of directors also were elected and new industry partners were announced. Pinal, of Goodlettsville, Tennessee, defeated H.K. "Hare Krishna" Patel for the secretary position. He was born in Bardoli, India, and his family moved to the U.S. in 1984 when he was 2, according to AAHOA. They lived in Nashville, Tennessee, Pinal said his parents did not speak any English when they brought him and his 1-year-old brother to America. Pinal's parents bought their first independent hotel in 1991, and he is a second-generation hotelier even after graduating flight school at Embry Riddle in Daytona Beach, Florida, before buying his first franchise property. Previously, he has served as an AAHOA ambassador and as AAHOA's director at large Eastern Division. "Hard work definitely pays off," Patel said. "I'm going to make sure we do what's right for the association and for the members. I promise to all my supporters, my family, and my fellow members that I will not let you down. I will do what's best for the association's interests."
‹ Previous 21 - 25 of 25
Showing 20 items per page