Group items matching

in title, tags, annotations or url

U.S. HOTEL PERFORMANCE increased in the second week of December, according to STR. ADR was up during the week when compared to same period in 2019. Occupancy was 57.4 percent for the week ending Dec. 11, up from 54.8 percent the week before and down by 4.8 percent for the same period in 2019. ADR for the week was $128.35, up from $127.92 the week before and increased 2.3 percent when compared to two years ago. RevPAR increased to $73.73 during the week from $70.08 for the week before but dropped 2.7 percent for the same period in 2019. Among the Top 25 Markets, Norfolk/Virginia Beach saw the only occupancy increase among STR's top 25 markets during the week, up 4.2 percent to 55.2 percent over 2019. New York City reported the highest weekly occupancy level of any STR-defined U.S. market at 81.5 percent. However, its occupancy level was 13 percent lower than two years ago. Miami registered the largest ADR increase during the period, up 30.1 percent to $229.34, when compared to 2019.

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.

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.

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.

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.

THE AMERICAN HOTEL & Lodging Association convened hotel and sustainability leaders in Washington for the second annual "Responsible Stay Summit" on Feb. 28, reaffirming the industry's dedication to environmental sustainability. The summit was part of AHLA's 2022 Responsible Stay initiative and focused on energy efficiency, waste reduction, water conservation, and responsible sourcing, AHLA said in a statement. The summit addressed environmental, social, and governance strategies, federal energy policy, and green financing, while offering crucial support to hoteliers in their sustainability efforts, the statement added. This year's summit featured two announcements: AHLA and the Hotel Association of Canada unveiled a partnership to oversee the Green Key Global sustainability certification program in the U.S. and Canada starting April 1. Additionally, AHLA and Procure Impact launched a Dignity of Work Pledge, aiming to generate 100,000 hours of paid employment for underserved populations, thereby promoting responsible sourcing practices.

U.S. HOTEL PERFORMANCE rose in the second week of March compared to the previous week but declined year over year, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all saw increases compared to the prior week. Occupancy climbed to 63.2 percent for the week ending March 9, up from the prior week's 62.5 percent, reflecting a 2.2 percent year-over-year decline. ADR rose to $156.96 from $155.29 the previous week, marking a 0.6 percent decrease compared to last year. RevPAR reached $99.17, up from the previous week's $97.12, signifying a 2.8 percent decrease compared to the same period in 2023. Among the top 25 markets, Minneapolis saw significant year-over-year growth across all three key performance metrics: occupancy surged by 25.1 percent to 63.7 percent, ADR rose by 15.9 percent to $143.12, and RevPAR increased by 45.1 percent to $91.11.

U.S. HOTEL PERFORMANCE showed improvement in the second week of January compared to the previous week, with mixed year-over-year comparisons, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, saw moderate increases during the week compared to the New Year's commencement. The performance was influenced by the Consumer Electronics Show. Occupancy came in at 53.3 percent for the week ending Jan. 13, up from the previous week's 46.8 percent and reflecting a 2.8 percent year-over-year decrease. ADR rose to $153.84, compared to the prior week's $152.17, showing a 6.3 percent increase from the previous year. RevPAR increased to $81.96 from the prior week's $71.28, showing a 3.3 percent rise from the corresponding period in 2023. Among the top 25 markets, Las Vegas demonstrated the largest year-over-year increases in each of the three performance metrics. Occupancy increased by 29 percent to reach 79.8 percent, ADR rose by 77.3 percent to $283.74, and RevPAR increased by 128.8 percent to $226.34.

U.S. HOTEL PERFORMANCE improved in the second week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key metrics such as occupancy, RevPAR, and ADR all increased week-over-week. Occupancy rose to 66.1 percent for the week ending May 11, up from 64.4 percent the previous week, representing a 2.1 percent year-over-year increase. ADR increased to $162.14 from $159.97, a 4.4 percent rise compared to last year. RevPAR reached $107.24, up from $103.09 the prior week, showing a 6.6 percent increase compared to the same period in 2023. Among the top 25 markets, San Francisco reported the highest year-over-year increases in each of the three key performance metrics: occupancy increased by 20.6 percent to 79.3 percent, ADR rose by 54.5 percent to $313.13, and RevPAR increased by 86.3 percent to $248.28. The market's performance was boosted by the RSA Conference.

U.S. HOTELS ARE likely to report improved RevPAR growth in the second half of the year, following a weak first quarter, according to CBRE. International tourism and other economic factors are expected to provide a boost to performance. A 2 percent increase in RevPAR growth is forecasted for 2024, down from the 3 percent estimated in February. RevPAR is now expected to grow by 3 percent for the remainder of the year, driven by international tourists, holiday travel, and limited supply growth. It is projecting GDP growth of 2.3 percent and average inflation of 3.2 percent in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation between GDP and RevPAR growth, CBRE said in a statement.

U.S. HOTEL PERFORMANCE improved in the second week of June compared to the previous week, showing mixed year-over-year results, according to CoStar. All key metrics, including occupancy, RevPAR and ADR, increased compared to the prior week. Occupancy rose to 70.3 percent for the week ending June 15, up from 69.1 percent the previous week, despite a slight 0.6 percent year-over-year decrease. ADR increased to $161.70 from $160.90, a 0.9 percent rise compared to last year. RevPAR increased to $113.62 from $111.26 the previous week, marking a 0.3 percent increase compared to the same period in 2023. Among the top 25 markets, San Francisco recorded the highest year-over-year increases: occupancy rose 14.8 percent to 71.1 percent, ADR increased 11.3 percent to $226.70, and RevPAR grew 30.3 percent to $179.97. The market's performance was boosted by the Data + AI Summit.

HILTON HOTELS & RESORTS retained its title as the world's most valuable hotel brand for the ninth consecutive year, while Hyatt Hotels Corp. secured the second spot again, according to the latest data from Brand Finance. Meanwhile, India's Taj Hotels is the world's second-fastest-growing brand, primarily due to revenue growth and improved brand strength. Hilton's brand value is estimated at $11.6 billion in the Brand Finance Global 500 2024 ranking. Hyatt holds a value of $6 billion, and Taj increased its brand value by 45 percent to $545 million, Brand Finance said in a statement. "Many top hotel brands have struggled to grow their brand value as robustly as in the years leading up to 2020, and the Brand Finance Hotels 2024 ranking shows that these challenges are ongoing as the industry recovers," said Henry Farr, Brand Finance's associate director. "Despite an uptick in travel and hotel demand, the actual growth hasn't matched expectations, resulting in slight declines or minimal brand value growth for the world's leading hotel brands."

BUSINESS CONTINUED TO improve in the second week of April for U.S. hotels, according to STR. Occupancy, ADR and RevPAR all rose on a weekly basis, and the last two were up compared to the same time in 2019. Occupancy was 66.4 percent for the week ending April 9, up from 64.1 percent the week before but down 4.7 percent from 2019. ADR was $150.45 for the week, up from $145.74 the previous week and up 10.6 percent from 2019. RevPAR reached $99.93, a rise from $93.48 weekly and up 5.4 percent from three years ago. Among STR's top 25 markets, Tampa saw the highest occupancy increase over 2019, up 6.2 percent to 84 percent. Minneapolis had the largest occupancy decrease from three years ago, down 29.5 percent to 51.4 percent.

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.

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.

THE REVPAR OF hotels in Phoenix is forecasted to reach $419 for Super Bowl weekend of February 10-12, the second-highest level for the event, according to STR. As the city also hosts Phoenix Open this week, the Friday through Sunday night occupancy may touch 94 percent and ADR to hit $445. According to STR, a unique volume of demand would push occupancy slightly higher than Phoenix's last host year in 2015 (93.7 percent) even though supply increased by 11.7 percent this year. The ADR level would rank third among host markets behind Miami in 2020 and San Francisco in 2016. "Phoenix's jump in RevPAR during its last Super Bowl host year was staggering, and this time around will be no different with big-time growth contribution from both occupancy and ADR," said Isaac Collazo, STR's vice president of analytics. "Demand speaks for itself, especially with consumer behavior around the event free of pandemic concerns-unlike the last two Super Bowls. Phoenix's ADR situation has different influences than recent host markets given inflation and having less upper-tier supply than a Los Angeles or Miami." The overall Phoenix market comprises 544 hotels with 70,488 rooms.

HELPED BY THE onset of spring break travel, U.S. hotels' performance bettered in the second week of March from the previous week, according to STR's latest data through 11 March. The top 25 markets were up on a weekly basis but still behind 2019 levels. Occupancy for the week ending March 11 came in at 64.7 percent up from 62.8 percent the week before, 2.8 percent more than the comparable week in 2022 and 7.5 percent below the comparable week in 2019. ADR stood at $158.20, up from $151.35 the previous week and also up 8.1 percent and 16.6 percent over the same month in 2022 and 2019, respectively. RevPAR was reported at $102.38, up from $95.06 the previous week, and an increase of 11.1 percent and 7.8 percent over the same month in 2022 and 2019. Among the top 25 markets, Washington, D.C., witnessed the highest year-over-year occupancy increase compared to 2019, up 21.8 percent to 67.6 percent. However, none of the Top 25 Markets saw an occupancy lift over 2019. Meanwhile, D.C. also registered the most substantial ADR increase at $183.86 against 2019, up 23.4 percent. D.C.'s RevPAR rate also climbed up 50.2 percent to $124.33 year-over-year. Anaheim reported the highest ADR increase for spring break week, up 51.4 percent to US$245.62 and RevPAR rose 42.2 percent to $189.81, when measuring against 2019.

Payday loans are short term unsecured type of monetary aid that allow all type of credit holder to obtain funds from reliable lender. So, without any second thought apply with us and handle any sudden fiscal woes in easy manner.

Payday loans are an ideal option to resolve any kind of monetary crisis which is arises suddenly in your life. When your next payday is still far and you need some urgent bucks then without any second thought apply with us and get cash easily.