Skip to main content

Home/ Travel for freedom/ Group items matching "Top" 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
asianhospitality

HLS added 73 hotels, 5,967 rooms in 2021 - 0 views

  •  
    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."
asianhospitality

Presidents' Day weekend improves U.S. hotel performance - 0 views

  •  
    U.S. HOTEL PERFORMANCE increased in the third week of February mainly due to Presidents' Day weekend, according to STR. The data research firm also reported improvement for the week compared to 2019. Occupancy was 59.1 percent for the week ending Feb. 19, up from 54.6 percent the week before and down 8.4 percent for the same period in 2019. ADR was $140.11 for the week, increased from $133.72 the week before and up 8.4 percent from two years ago. RevPAR was $82.87 for the week, up from $73 the week before and down just 0.8 percent from the same period two years ago. Norfolk/Virginia Beach recorded the only occupancy increase among STR's top 25 markets in the third week of February, up 5.7 percent to 55 percent, over 2019. According to the report, Miami posted the highest ADR increase during the period, increased 28 percent to $347.48, followed by Super Bowl LVI host, Los Angeles, which was up 26.4 percent to $225.07.
asianhospitality

GLOBAL CONSTRUCTION PIPELINE:U.S. DOMINATES - 0 views

  •  
    THE U.S. TOPS the global hotel construction pipeline in terms of project count, according to Lodging Econometrics. Overall, the pipeline increased 5 percent by projects and 4 percent by rooms over the same time last year with several stages of the pipeline hitting peaks by project and rooms counts. LE's most recent Global Hotel Construction Pipeline Trend Report released Thursday found the pipeline contains 14,779 projects with 2,412,736 rooms. There were 1,230,572 rooms in 6,896 projects under construction, all-time high. Another peak is in projects scheduled to start in the next 12 months with 4,599 projects and 651,133 rooms at the end the second quarter. There are an additional 3,283 projects and 531,031 rooms in the early planning stage of the pipeline. U.S. projects made up 38 percent of the pipeline with 5,582 projects and 687,801 rooms. China was second with 3,574 projects and 647,704 rooms, or 24 percent of the pipeline, meaning both countries make up 62 percent of the total pipeline.
asianhospitality

STR: U.S. hotel performance up in the second week of March - 0 views

  •  
    U.S. HOTEL PERFORMANCE was up in the second week of March from the week before, according to STR. ADR was up during the week compared to two years ago. Occupancy was 63.2 percent for the week ending March 12, up from 61.2 percent the week before and down 9.8 percent for the same period in 2019. ADR was $144.68 for the week, increased from $137.96 the week before and up7.7 percent from two years ago. RevPAR was $91.45 for the week, up from $84.39 the week before and down 2.8 percent from the same period two years ago. None of STR's top 25 markets showed an occupancy increase during the period when compared to two years ago. Miami came closest to its 2019 comparable, down 4.7 percent to 84.1 percent.
asianhospitality

Post Memorial Day - U.S. hotel Early June performance drags - 0 views

  •  
    U.S. HOTEL PERFORMANCE dropped in the first week of June compared to the week before due to the expected slowdown following the Memorial Day holiday, according to STR. However, ADR increased for the week compared to 2019. Occupancy was 63.2 percent for the week ending June 4, down from 66.5 percent the week before and dropped 12.1 percent from 2019. ADR was $147.35 for the week, down from $151.73 the week before and up 11.3 percent from three years ago. RevPAR reached $93.16 during the week, decreased from $100.97 the week before and dropped 2.2 percent from 2019. None of STR's top 25 markets showed an occupancy increase over 2019 during the post Memorial Day week. Orlando came closest to its pre-pandemic levels, down just 2.5 percent to 68.9 percent, and Miami posted the largest ADR gain, up 37.8 percent to $209.55.
asianhospitality

STR: U.S. hotel performance improved in May's second week - 0 views

  •  
    U.S. HOTEL PERFORMANCE improved in the second week of May compared to the week before, according to STR. Occupancy, ADR and RevPAR all rose from the previous week and the latter two rose from 2019 levels. Occupancy was 66.5 percent for the week ending May 14, up from 63.9 percent the week before and down 5.9 percent from 2019. ADR was $148.31 for the week, increased from $147.24 the week before and up 10.5 percent from three years ago. RevPAR reached $98.59 during the week, up from $94.10 the week before and rose 4.1 percent from 2019. Among STR's top 25 markets, Phoenix saw the highest occupancy increase, up 4.5 percent to 73.8 percent, over 2019. Miami posted the highest ADR, increased 62.8 percent to $282.26, when compared to 2019.
asianhospitality

STR: U.S. hotel performance dips in the fourth week of May - Asian Hospitality - 0 views

  •  
    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.
asianhospitality

STR, TE forecast RevPAR, ADR to surpass pre-pandemic levels in 2022 - 0 views

  •  
    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.
asianhospitality

Minnock, Berry join Noble's investment team - 0 views

  •  
    Katherine Minnock is now director of investments for Noble Investment Group in Atlanta. Owen Berry is the company's new development manager. Both new hires will support the expansion of Noble's investment platform, according to the company, which is led by Mit Shah as CEO. Prior to joining Noble, Minnock was director of development for the U.S. and Asia Pacific at Starwood Capital affiliate SH Hotels & Resorts. Prior to that she held leadership roles at BRE Hotels & Resorts, a Blackstone company, and Hilton. Minnock has a bachelor's degree in hotel administration from Cornell University, where she serves as a board member of the Cornell Hotel Society. In her new role, she will oversee acquisition and development strategies across Noble's investment platforms. "Katie's addition to our team supports Noble's commitment to recruiting top talent as we continue to expand the depth and breadth of our hospitality investment strategies," said Dustin Fisher, Noble's senior vice president.
asianhospitality

STR: U.S. hotel occupancy declines in May's first week - 0 views

  •  
    U.S. HOTEL OCCUPANCY decreased in the first week of May compared to the week before, according to STR. However, ADR increased slightly. Occupancy was 63.9 percent for the week ending May 7, down from 66.6 percent the week before and dipped 6.1 percent from 2019. ADR was $147.24 for the week, up from $146.67 the week before and up 12 percent from three years ago. RevPAR reached$94.10 during the week, up from $97.72 and rose 5.1 percent from 2019. Among STR's top 25 markets, San Diego saw the highest occupancy increase, up 5.6 percent to 74.5 percent, over 2019.
asianhospitality

STR: U.S. hotels' RevPAR at weekly high in the second week of June - 0 views

  •  
    THE REVPAR OF U.S. hotels reached an all-time weekly high on a nominal basis in the second week of June as performance jumped, according to STR. The ADR and occupancy levels were the second and third highest of the pandemic-era, respectively, during the week. Occupancy was 70.6 percent for the week ending June 11, up from 63.2 percent the week before and dropped 4.1 percent from 2019. ADR was $155.37 for the week, up from $147.35 the week before and increased 15.4 percent from three years ago. RevPAR reached $109.76 during the week, up from $93.16 the week before and up 10.7 percent from 2019. According to STR, the top 25 markets posted their highest metrics since the beginning of the pandemic in aggregate during June's second week. Leading the major markets in absolute occupancy for the week were Seattle with 85.2 percent, San Francisco/San Mateo with 84.3 percent and New York with 85.1 percent.
asianhospitality

TOP TIPS TO MAINTAIN DIESEL GENERATORS AND AVOID ISSUES - 0 views

  •  
    Diesel generators are heavy-duty units designed for longevity. While the durability of diesel generators makes them ideal for long-term usage, they require significant upkeep to keep working as intended. If you have recently purchased a diesel generator or are considering purchasing one, there are several things to keep in mind to ensure you get the best value out of your investment. Everybody knows machines need timely maintenance and servicing to last longer, but diesel generators require several other measures to keep running optimally. Let's take a look at why diesel generator disasters happen and how to avoid those issues. LAUNDRY LIST OF REASONS WHY DIESEL GENERATORS BREAK DOWN Call up any reputable generator manufacturer or repair services and ask the most common causes for diesel generators to break down, and they'll give you a laundry list. You can click here to know about these causes in detail, but here's a long and short of various reasons for your diesel generator to give up. PUSHING THE GENERATOR TO ITS LIMITS It is basic knowledge that be it humans or machines, if they are pumping full steam every day, they are bound to break down. While humans can take a vacation and recharge, machinery needs proper maintenance. Think of maintenance like a spa day for your diesel generator. If you're running your diesel generator 24 hours a day all the time, it requires servicing every fortnight or 20 days. Failure to do so can severely damage the components of your generator or even cause it to break down.
asianhospitality

Leadership Series: Larry Cuculic with Asian Hospitality - 0 views

  •  
    Recently, Larry Cuculic, president and CEO of BWH Hotel Group, sat down with Asian Hospitality to share his insights into the status of the Best Western Hotel brand and the industry as a whole. A video of the entire interview, the first in Asian Hospitality's "Leadership Series," is now available on the magazine's website. Subjects included the labor crisis, attracting new franchisees and the state of the economy. Below are excerpts from the interview along with additional information on the subjects discussed, including franchise relations, the labor crisis and changes the company has seen since his appointment to the top role. Franchise relations One of the biggest issues Cuculic discusses in the interview is maintaining positive relations with Best Western franchisees. He emphasized the need for openness and transparency. "We disclose all of our contract terms throughout the negotiation. I tell our people, I believe in karma," Cuculic said in the Leadership Series interview. "Karma doesn't forget a name or an address. If you treat someone who's thinking about coming into your brand reasonably fairly, and then when they sign a contract, you drive revenue to them, that's a win-win relationship. That's what we want. If you don't have that win-win relationship, they're going to leave and your reputation is that you don't support your hoteliers or believe in that relationship, which then hinders development." Cuculic said his training at West Point Military Academy and law school at Notre Dame University instilled in him an innate sense of fairness. Also, due to its structure, the company has to involve its members in every decision. "I'm the president, CEO of Best Western, I cannot design a governance change," Cuculic said. "The members vote on all those changes. Our board of directors approves our contracts."
asianhospitality

STR: Slight fall in U.S. hotel performance in first week of February - 0 views

  •  
    U.S. HOTEL PERFORMANCE fell slightly in the first week of February from the week before, according to STR. Occupancy was 55.3 percent for the week ending Feb. 4, down from 56.3 percent the week before and decreased 7.3 percent from 2019. ADR was $145.35 during the week, increased from $142.66 the week before and up 13.9 percent from three years ago. RevPAR reached $80.45 in the first week, slightly up from $80.32 the week before and up 5.6 percent from January 2019. None of STR's top 25 markets saw an occupancy increase during the week. Las Vegas came closest to its 2019 occupancy at 78.2 percent, down 1.4 percent. It also reported the highest ADR, up 79.5 percent to $221.38 and RevPAR, up 76.9 percent to $173.20, over 2019 mainly due to Design & Construction Week 2023 and the NFL Pro Bowl Games.
asianhospitality

AHLA to host inaugural General Manager Summit In June - 0 views

  •  
    THE AMERICAN HOTEL & Lodging Association is set to host the inaugural General Manager Summit at "The Hospitality Show" on June 28 at The Venetian Resort Las Vegas. The first-of-its kind event will be held annually and bring together hotel GMs from across the country to hear from expert speakers, share best practices and network. The event will also celebrate the industry's best GMs via an awards ceremony, AHLA said in a statement. "General Managers are the backbone of any hotel, and that's precisely why AHLA offers this important group of professionals a host of top-notch professional development, networking and event opportunities," said Chip Rogers, president and CEO of AHLA. "AHLA's General Manager Summit at The Hospitality Show is the can't-miss event of the year for GMs, and we're excited to see you there this June." AHLA said the event is free for all GMs attending The Hospitality Show, which takes place June 27-29 at The Venetian Las Vegas, but GM summit attendees must register for the event here.
asianhospitality

HVS: Near full recovery in RevPAR by the end of 2022 - 0 views

  •  
    THE U.S. HOTEL industry will be well on the way to recovery in 2022, according to consulting firm HVS Americas. However, a full recovery in real terms, after adjusting for inflation, remains a few years away, it added. With more assets, both distressed and well performing, expected to come to market this year, 2022 will be an exciting year for the industry, said Rod Clough, president of HVS, in an article titled 'ALIS 2022 Takeaways - Our Industry Braces for a Big Year Ahead'. A near full recovery in RevPAR at $85 for U.S. hotels is likely to happen by the end of 2022 when compared to $86 in 2018-19. "The higher inflationary environment will continue to bode well for hotels, resulting in ADR pricing power leading to a lift in revenue on top of still lean operational models. Group travel is still lagging the recovery, but near-term, smaller-group bookings (at newly raised room rates) should help bridge the gap while the industry waits for larger meetings to return," Clough wrote in the article. "Rising development costs due to supply-chain disruptions, labor shortages, and overall inflation are leading to a general contraction in new hotel openings. Moreover, development challenges are intensifying for major CBDs, attributed to slow office re-openings, a lag in larger convention bookings, higher operating/labor costs, and even higher construction costs than your average project."
asianhospitality

U.S. occupancy breaks 50 percent first week of February - 0 views

  •  
    IN THE FIRST week of February, U.S. weekly hotel occupancy eclipsed 50 percent for the first time in more than a month, according to STR. However, occupancy declined for the week under review when compared to the same period in 2019. Occupancy was 50.4 percent for the week ending Feb. 5, up from 49.7 percent the week before and down 15.8 percent from the comparable week in 2019. ADR was $125.06 for the week, up from $122.40 the week before and down just 1.2 percent from two years ago. RevPAR reached $63.05 during the week under review, up from $60.82 the week before and down 16.8 percent from the same period two years ago. According to the report, none of STR's top 25 markets recorded an occupancy increase over 2019. Norfolk/Virginia Beach came closest to its pre-pandemic level, down just 0.6 percent to 47.3 percent.
asianhospitality

STR: Hotel performance up in week of Feb.26 over prior week - 0 views

  •  
    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.
asianhospitality

Stonehill ranked as 10th largest U.S. hotel lender by MBA - 0 views

  •  
    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."
asianhospitality

Feb STR : U.S. hotels performance up in fourth week - 0 views

  •  
    U.S. HOTEL PERFORMANCE increased in the final week of February from the previous week, according to STR. Occupancy saw a new high during the week. Occupancy was 64.2 percent for the week ending Feb. 25, up from 60.8 percent from the third week of February and 1.5 percent below the comparable week in 2019. ADR reached $156.51, up from $156.10 the week before and 22.2 percent over the same month in 2019. RevPAR stood at $100.43, up from $87.21 the previous week and 20.3 percent rise over 2019. The U.S. weekly occupancy level was the highest since the week ending Nov. 19, 2022, the STR data showed. Among the Top 25 Markets, Orlando saw the highest occupancy increase over 2019, up 6.2 percent to 86.9 percent, while Las Vegas reported the highest ADR, up 49.5 percent to $186.96 and RevPAR rose 51.8 percent to $148.61 over 2019.
« First ‹ Previous 121 - 140 of 201 Next › Last »
Showing 20 items per page