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Sept. Hotel Performance Soars: CoStar Report - 0 views

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    U.S. HOTEL PERFORMANCE has increased in the second week of September compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed. Occupancy stood at 68.5 percent for the week ending on Oct. 14, a slight uptick from the previous week's 67.8 percent, and a marginal year-over-year decline of 2.3 percent. ADR increased to $164.25, up from the previous week's $163.19, marking a 3.2 percent surge compared to the previous year. RevPAR also showed improvement, reaching $112.51, surpassing the previous week's $110.68, and reflecting a 0.8 percent rise from 2022. Among the top 25 markets, Oahu Island experienced the highest year-over-year growth in occupancy, rising by 17.8 percent to reach 85.2 percent, while RevPAR increased by 29.7 percent to $243.22.
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U.S. doubles H-2B seasonal worker visas for 2024 - 0 views

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    THE DEPARTMENT OF Homeland Security will issue more than 64,000 additional H-2B visas for fiscal year 2024, surpassing a congressionally authorized discretionary cap for the second consecutive year. The American Hotel & Lodging Association, AAHOA and others have been lobbying for the increase as a step to relieving the labor shortage challenge in the hotel industry. A forthcoming interim final rule, which was announced on Friday, will additionally approve temporary work visas, bringing the total to over 130,000 including those issued under the regular annual cap of 66,000. Chip Rogers, AHLA president and CEO, commended the federal government's action. "The H-2B Workforce Coalition, which AHLA co-chairs, worked hard to convince the Biden administration to offer this considerable expansion, which nearly doubles the yearly allocation of H-2B visas," said Rogers. "These extra visas will be crucial to helping hotels and resorts in remote vacation destinations fill seasonal roles, and we thank Homeland Security Secretary Mayorkas for making them available. But we still need help from Congress to get hoteliers across the country all the employees they need. That includes establishing an H-2B returning worker exemption, passing the Asylum Seeker Work Authorization Act, and passing the H-2 Improvements to Relieve Employers (HIRE) Act."
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BWH Hotel & Green Key Global Partner for Sustainable Excellence - 0 views

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    BWH HOTEL GROUP is working with sustainability certification organization Green Key Global to enhance its sustainability initiatives and implement a standardized program across the U.S. and Canada. The program aims to enhance the company's environmental performance, reduce carbon footprint and improve guest comfort and satisfaction, according to a joint statement by the companies. As part of the partnership, BWH Hotels in the U.S. and Canada gain access to Green Key Global's sustainability certification program, the joint statement said. That includes a list of green certified vendors, an "Eco-Rating" program and guidance on hosting sustainable meetings, according to the Green Key website. "We are delighted to partner with Green Key Global to enhance sustainability standards across our properties," said Michael Morton, vice president of brand management at BWH Hotels. "As a trusted organization, Green Key Global aligns with our commitment to sustainability, and this partnership will reinforce our dedication to providing guests with an environmentally responsible hotel experience."
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U.S. hotel performance rises in first week of December - 0 views

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    U.S. HOTEL PERFORMANCE saw a significant increase in the first week of December compared to the previous week, with improvements in hotel occupancy, ADR and RevPAR, according to CoStar. Year-over-year results also reflected positive trends. Occupancy rose to 58.7 percent for the week ending Dec. 9, up from the previous week's 54.2 percent, reflecting a year-over-year decrease of 1.1 percent. ADR increased to $153.36, compared to the previous week's $144.88, showing a 4.5 percent uptick from the prior year. RevPAR also soared to $89.98, compared to the prior week's $78.54, indicating a 3.3 percent decrease from the corresponding period in 2022. Among the top 25 markets, Boston saw the largest year-over-year occupancy increase, surging by 4.1 percent to 72.7 percent. Helped by Miami Art Week and Art Basel, Miami reported significant increases in ADR, soaring 48.8 percent to $314.55, and RevPAR, jumping 67 percent to $262.16.
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Stonebridge Cos. acquires five-property portfolio nationwide - 0 views

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    STONEBRIDGE COS. JUST acquired five properties, totaling a 1,200-key portfolio across the U.S. in late November. The Denver-based hotel operator plans to execute capital improvements at each property, with three having undergone recent renovations. With a current nationwide portfolio of more than 14,000 rooms, the company is actively pursuing additional expansion opportunities, Stonebridge said in a statement.
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CoStar: U.S. hotels saw decreased results in November - 0 views

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    U.S. HOTELS RECORDED decreased performance results in November, compared to the preceding month, according to CoStar. However, year-over-year comparisons indicated positive improvements. Occupancy decreased to 58.4 percent in November, compared to 65.8 percent in October, marking a 1.2 percent decline from the previous year. ADR decreased from $161.56 to $151.23, showing a 3.6 percent increase from 2022. RevPAR stood at $88.36, down from $106.38 in the previous month, reflecting a 2.4 percent rise from the preceding year. Among the top 25 markets, New York City achieved the highest occupancy at 84 percent, marking a 6.3 percent year-over-year increase. Markets with the lowest occupancy for the month were Minneapolis at 49.1 percent and St. Louis at 53.2 percent. Meanwhile, the top 25 markets exhibited superior occupancy and ADR compared to all others.
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STR: U.S. hotels see highest RevPAR since mid-July 2019 - 0 views

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    THE RevPAR OF U.S. hotels in the third week of May was the highest it has been since mid-July 2019, according to STR. Also, all metrics in April as a month improved compared to March, and hotels reported all-time high room rates during the period. Occupancy was 68.6 percent for the week ending May 21, up from 66.5 percent the week before and down 3.5 percent from 2019. ADR was $151.75 for the week, increased from $148.31 the week before and up 13.4 percent from three years ago. RevPAR reached $104.06 percent during the week, up from $98.59 the week before and rose 9.5 percent from 2019. STR's top 25 markets saw their highest weekly occupancy, ADR and RevPAR levels of the pandemic-era during the week.
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International Women's Day : Hotel companies to observe - 0 views

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    INTERNATIONAL WOMEN'S DAY is March 8, and hotel owners and large hospitality companies are taking time to make sure the women in the industry are reaching their full potential. Recent data shows women are improving their position in the industry, but more remains to be done. For California hotelier Sunil "Sunny" Tolani, that means giving female employees at his company, The Prince Organization, special training and time off for health care. For Tina Burnett, recently promoted chief development officer at G6 Hospitality, home company of Motel 6 and Studio 6 brands, it means making sure women are included in the same way as their male colleagues. "At our company, we believe women to be just as smart and capable as men-if not more so and there are intelligent and highly competent," Tolani said. "The traits generally associated for good hospitality as good social skills, warmth, compassion, expressiveness, generosity and altruistic impulses. We are focusing on the next generation of women hoteliers and convey to them that really extraordinary careers can be made in our widely diverse Hospitality industry."
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HLS added 73 hotels, 5,967 rooms in 2021 - 0 views

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    ATLANTA-BASED FIRM Hospitality Lodging Systems added 73 hotels with 5,967 rooms in 2021. The firm posted a 16 percent increase in hotels and 21 percent hike in rooms compared to last year, a statement said. In 2020, HLS had 63 hotels with 4,929 rooms. HLS said that of these properties, 42 hotels containing 4,201 rooms operate under the Budgetel Inn & Suites brand, 21 with 1,171 rooms operate under the AmeriVu Inn & Suites brand and 10 hotels containing 595 rooms operate as a Haven Hotel. "We are attracting owners who want to keep more of the money they earn, which is especially appealing in today's post-pandemic marketplace when improving ROI is a top priority," said Doug Collins, chairman and CEO of HLS. "Our business model gives owners the freedom to operate their properties in their own way, with some administrative and marketing help but without mandated style changes and amenity upgrades that drive up costs."
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NewcrestImage opens Canopy in Dallas - Asian Hospitality - 0 views

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    NEWCRESTIMAGE HAS OPENED its first Canopy by Hilton upscale hotel in north Dallas. The Canopy is part of Frisco Station, a four-brand, 600-room "lifestyle hotel campus" developed by the company. The 150-room, seven-floor Canopy joins the first two hotels, an AC Hotel and Residence Inn dual-brand with 150 rooms each that opened in 2019. The fourth hotel, a 150-room Hyatt Place, currently has no scheduled date for start of construction. "The opening of this Canopy symbolizes the story of hospitality's comeback around the country and around the world," said Mehul Patel, chairman and CEO of NewcrestImage. "Our company's commitment to serve travelers is not a victim of coronavirus, and we have many hygiene procedures in place so guests can feel safe, comfortable, and special." Some of those procedures include disinfecting guest luggage on arrival; using technology to reduce physical interaction between guests and staff during check-in and check-out; and improving the hotel's HVAC system to prevent spread of microbes and virus.
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CBRE forecasts RevPAR to regain 2019 levels by 3rd quarter - 0 views

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    A STRONGER THAN expected performance by U.S. hotels in the fourth quarter of 2021 led CBRE Hotels Research to upgrade its forecast for the rest of 2022. CBRE now forecasts RevPAR will reach 2019 nominal levels by the third quarter of this year, one year earlier than the previous forecast. Occupancy is expected to rise 6.7 percent to 61.3 percent this year, then rise 5.2 percent to 64.4 percent in 2023. ADR is forecast to rise 10.1 percent to $133.94 in 2022 and go up 6 percent more to $141.99 in 2023. CBRE expects RevPAR to rise 17.5 percent in 2022 overall to $82.04 and then rise 11.5 percent to $91.46 in 2023. Positive trends, such as high employment and the return to the office for many workers who had been working from home contributed to the revised forecast, CBRE said. Other factors contributing to the improvement include below-average supply growth, strong domestic leisure trends, the resumption of inbound international travel and a predicted return to office later this year. However, ongoing inflation and geopolitical tensions connected to the war in Ukraine still threaten progress.
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STR: U.S. hotel performance dips in the fourth week of May - Asian Hospitality - 0 views

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    U.S. HOTEL PERFORMANCE dipped slightly in the fourth week of May compared to the week before, according to STR. However, all performance metrics improved during the week compared to 2019. Occupancy was 66.5 percent for the week ending May 28, down from 68.6 percent the week before and up 3.2 percent from 2019. ADR was $151.73 for the week, slightly down from $151.75 the week before and up 22.2 percent from three years ago. RevPAR reached $100.97 during the week, down from $104.06 the week before and rose 26.2 percent from 2019. Among STR's top 25 markets, Phoenix saw the highest performance increases-occupancy was up 19.6 percent to 69.9 percent, ADR increased by 50.8 percent to $149.06 and RevPAR rose by 80.4 percent to $104.14, over 2019.
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TWENTY FOUR SEVEN HOTELS SEES STRONG FIRST QUARTER - 0 views

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    THE FIRST QUARTER of 2022 brought better than the national average performance for Twenty Four Seven Hotels. The Newport Beach, California-based third-party hospitality management company also acquired two new hotels in Southern California. Steady growth in year's beginning Occupancy for Twenty Four Seven properties rose steadily during the first three months of the year, hitting 62.9 percent in January, 67.8 percent in February and 76 percent in March. ADR also rose during the same three months, from $142.66 to $160.99 to $174.02. RevPAR followed the same trend, rising from $89.73 to $109.10 to $132.25. Each metric also rose compared to the first quarter of 2021. "We continue to ride the massive wave of momentum that began for Twenty Four Seven Hotels in 2021, when our portfolio grew by 25 percent with the addition of seven new hotels now totaling 25 hotels with more than 3,100 rooms," said David Wani, CEO of Twenty Four Seven. "We will continue to seek third-party management opportunities with well-respected partners and brands in the western U.S., expanding our concentration in these unique markets where we have firsthand experience improving bottom lines and guest satisfaction scores."
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Asian Hospitality's digital June issue is here! - 0 views

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    Hotels are a business and business is about are making money.That's why a major focus for the industry now is on the technology that improves revenue generation. One company aiming to meet that need in Bloomington-Minnesota based ideas founded by life-long friends and colleagues Ravi Mehrotra and Sanjay Nagalia.Using their background in artificial intelligence ,they have created a revenue management system, that has been deployed by 19000 hotel properties, including recently added Choice Hotels International with that company's launch of its ChoiceMax program. Ideas software offers clients the ability to make rate decisions based on multiple factors that are most human brains can fully calculate.The program puts all the relevant data together in a comprehensive manner.
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Baird/STR stock index up 16.4 percent in January - 0 views

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    THE BAIRD/STR HOTEL Stock Index jumped 16.4 percent in the first month of 2023, according to STR. A drop in recession fears and other factors gave investor confidence a boost, the research firms said. In January, the Baird/STR Index surpassed both the S&P 500, up 6.2 percent and the MSCI US REIT Index, increased 10.5 percent, STR said in a report. The index dropped 10 percent in December, and it was down 15 percent for 2022. According to STR, the Hotel Brand sub-index increased 16.2 percent from December to 10,342, while the Hotel REIT sub-index rose 17.1 percent to 1,216. "Hotel stocks rebounded sharply in January and were significant outperformers as the back-and-forth recessionary concerns once again subsided to start the year," said Michael Bellisario, senior hotel research analyst and director at Baird. "Industry-wide RevPAR trends finished the year on a strong note despite tougher calendar comparisons and weather-related travel disruptions in December. Several Hotel REITs provided fourth-quarter operational updates, and performance generally was in line with prior expectations. More broadly, investor sentiment has improved, which boosted stock prices across the board in January, but the macroeconomic indicators have remained mixed."
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STR: Hotel performance up in week of Feb.26 over prior week - 0 views

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    U.S. HOTEL PERFORMANCE increased in the fourth week of February from the week before, according to STR. Occupancy, ADR and RevPAR also showed significant improvement when compared to same period in 2019. Occupancy was 62.2 percent for the week ending Feb. 26, up from 59.1 percent the week before and down 4.7 percent for the same period in 2019. ADR was $143.83 for the week, increased from $140.11 the week before and up 13.1 percent from two years ago. RevPAR was $89.45 for the week, up from $82.87 the week before and increased 7.7 percent from the same period two years ago. Among STR's top 25 markets, Orlando recorded the largest occupancy increase, up 6.7 percent to 85.9 percent, over 2019.
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AAHOA continues support for NJ franchise reform law - 0 views

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    AAHOA MEMBERS RECENTLY testified in support of New Jersey Assembly Bill 1958, which would make changes to the New Jersey Franchise Practices Act that could benefit the hospitality industry. The association's support for specific parts of the bill is at the center of a division between AAHOA and two major hotel companies over franchise reform. On March 22, 30 AAHOA members attended a hearing of the New Jersey Assembly Commerce and Economic Development Committee during which the bill was passed out of the committee. Several of the members also testified, according to AAHOA. AAHOA members own 45.4 percent of New Jersey hotels, representing 46,124 rooms, the association said. "As the largest hotel owners association, representing the exclusive interests of America's hotel owners, AAHOA showed up in New Jersey to testify in support of amendments to the legislation to improve the franchise model," said Nishant "Neal" Patel, AAHOA chairman. Last May, a contingent of AAHOA members testified in favor of the bill in front of the New Jersey Assembly Judiciary Committee, particularly the aspects of the bill that match AAHOA's 12 Points of Fair Franchising. Specifically, the franchise reform changes supported by AAHOA include restricting non-competes for longer than six months; prohibiting requiring a relocation or capital investment greater than $25,000 more than once every five years unless hotel franchisers can establish a return on the investment; requiring a franchiser that receives "any rebate, commission, kickback, services, other consideration or anything of value" to fully disclose them to the franchisee and turn them over to the franchisee; putting restrictions on mandatory sourcing of goods or resources; and prohibiting suspending, restricting or preventing access to franchise services.
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U.S. hotel industry celebrates 'Women's History Month' - 0 views

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    IN MARCH, THE U.S. celebrated the achievements and history of women as part of Women's History Month. In recognition of the month, some hotel companies introduced or continued programs aimed at increasing women's role in the industry. In line with the Women's History Month theme this year "Celebrating Women Who Tell Our Stories," Choice Hotels International kicked off its "HERtels at Choice Development Seminar" with nearly 40 franchise owners, general managers, and hotel associates in attendance. At the same time, Wyndham Hotels & Resorts' "Women Own the Room" initiative has signed over 30 hotels across the U.S. and Canada in the first year of its launch. Also, California hotelier and philanthropist Sunil "Sunny" Tolani issued a special message for the month. HERtels by Choice Choice Hotels took the recently held Hunter Hotel Conference in Atlanta as a launch pad for its inaugural HERtels seminar. The event was held next door to the Marriott Marquis Atlanta, Hunter's venue, and is an enhancement of Choice's HERtels program that was launched in 2021. "While industry-wide parity is improving, with more female investors, directors, and leaders in hospitality than ever before, women entrepreneurs still face significant economic and societal barriers when it comes to hotel ownership and development. As an industry, we owe it to the next generation of hoteliers to change this statistic," said John Lancaster, vice president for emerging markets, franchise development and owner relationships, Choice Hotels International. "This initiative and the invaluable resources it provides is a natural extension of our industry-leading emerging markets program and our enduring commitment to helping growth-minded entrepreneurs further their unique ownership journey."
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STR Dec :U.S. hotel performance improves in the second week - 0 views

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    U.S. HOTEL PERFORMANCE was up in the second week of December compared to the week before, according to STR. When compared to 2019, performance was higher during the week. Occupancy was 59.6 percent for the week ending Dec. 10, up from 55.4 percent the week before and a slight decrease of 1.2 percent from 2019. ADR was $144.79 during the week, increased from $141.71 the week before and up 15.4 percent from three years ago. RevPAR reached $86.29 during the week, up from $78.50 the week before and up 14 percent from 2019. Among STR's top 25 markets, Tampa reported the highest occupancy increase during the week, up 10.2 percent to 80.1 percent, over 2019. New York City achieved the highest occupancy level at 90.2 percent. New Orleans posted the highest ADR, increased 57.3 percent to $202.67, and RevPAR, up 63.8 percent to $136.92, over 2019.
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STR: U.S. hotel performance drops in the third week of December - 0 views

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    U.S. HOTEL PERFORMANCE decreased in the third week of December compared to the week before, according to STR. However, performance metrics improved when compared to 2019 in part because of a favorable calendar shift. According to STR, the corresponding week in 2019 ended on 21 December, which brought performance down lower for that period. Occupancy was 54.5 percent for the week ending Dec. 17, down from 59.6 percent the week before and an increase of 9.2 percent from 2019. ADR was $135.08 during the week, dropped from $144.79 the week before and up 23.7 percent from three years ago. RevPAR reached $73.65 during the week, down from $86.29 the week before and up 35.1 percent from 2019.
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