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CoStar 2024 : U.S. hotel performance up in mid-October, YOY results up - 0 views

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    U.S. HOTEL PERFORMANCE improved in the third week of October, with positive year-over-year comparisons, according to CoStar. Key metrics showed a slight decrease in occupancy, while RevPAR and ADR increased week-over-week. Occupancy declined slightly to 70.1 percent for the week ending Oct. 19, down from 70.3 percent the previous week, though it rose 1.6 percent year-over-year. ADR increased to $169.85 from $166.88, a 2.5 percent year-over-year gain. RevPAR rose to $119.01 from $117.28 the previous week, up 4.2 percent from the same period in 2023. Among the top 25 markets, Tampa saw the largest occupancy increase, up 23.6 percent to 83.7 percent, driven by continued displacement demand from Hurricane Milton. Miami recorded the highest increases in ADR, up 29.9 percent to $245.28, and in RevPAR, up 35.5 percent to $179.72. The market's performance was driven by Taylor Swift's Eras Tour and Adobe MAX 2024.
asianhospitality

U.S. Hotel Performance Declines in Early October Due to Rosh Hashanah - CoStar Insights - 0 views

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    U.S. HOTEL PERFORMANCE declined in the first week of October compared to the previous week due to Rosh Hashanah, according to CoStar. Year-over-year comparisons also decreased, with key metrics-occupancy, RevPAR, and ADR-all falling from the prior week. Occupancy fell to 65.6 percent for the week ending Oct. 5, down from 69.4 percent the previous week, reflecting a 3.4 percent year-over-year decrease. ADR decreased to $156.25 from $159.63 the prior week, indicating a 4.4 percent decline compared to last year. RevPAR dropped to $102.44, down from $110.84 the previous week, marking a 7.7 percent decrease compared to the same period in 2023. Among the top 25 markets, Tampa saw the highest year-over-year occupancy increase at 81.3 percent, up 24.1 percent, while RevPAR rose 22.1 percent to $125.39. As is common after natural disasters, the market's hotel performance was boosted by displacement demand from Hurricane Helene.
asianhospitality

The Hospitality Show 2024 unveils program highlights - 0 views

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    THE HOSPITALITY SHOW 2024, produced by Questex and the American Hotel & Lodging Association, announced highlights recently, including keynote sessions by chef José Andrés on October 28 and franchise expert Scott Greenberg. The show will take place Oct. 28 to 30 at the Henry B. González Convention Center in San Antonio, Texas. Andrés will present "Changing the World Through the Power of Food," while Greenberg will discuss strategies to elevate franchise operations. Greenberg's keynote will be followed by a fireside chat with Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts. On Oct. 30, NFL reporter Erin Andrews will moderate the session "Creative Collaboration: The Ultimate Immersive Guest Experience," joined by Jonathan Tisch, executive chairman of Loews Hotels & Co., and Mark Woodbury, chairman and CEO of Universal Destinations & Experiences. They will discuss how storytelling transforms concepts from books and films into immersive guest experiences. Following the keynote, Andrews will join AHLA Foundation president Anna Blue for a ForWard Segment to discuss her career in sports broadcasting and her entrepreneurial venture, WEAR.
asianhospitality

U.S. Hotel Performance Declines Slightly in Late October 2024 | CoStar Analysis on Occu... - 0 views

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    U.S. HOTEL PERFORMANCE declined slightly in the fourth week of October, though year-over-year comparisons remained positive, according to CoStar. Key metrics, including occupancy, RevPAR, and ADR, saw slight decreases from the previous week. Occupancy fell to 69 percent for the week ending Oct. 26, down from 70.1 percent the prior week but up 4.5 percent year-over-year. ADR declined to $168.69 from $169.85, marking a 4.6 percent increase year-over-year. RevPAR dipped to $116.32 from $119.01, showing a 9.3 percent gain over the same period in 2023. Among the top 25 markets, Tampa recorded the highest occupancy increase, up 28.1 percent to 84.2 percent, driven by ongoing displacement demand from Hurricane Milton. New Orleans saw the highest increases in ADR, up 64.1 percent to $301.30, and in RevPAR, up 77.6 percent to $227.24, boosted by Taylor Swift's Eras Tour.
asianhospitality

Study: Loyalty programs fall short of customer expectations - 0 views

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    U.S. TRAVEL COMPANIES intensified their focus on loyalty programs during the post-COVID recovery to capitalize on industry momentum, despite frequent traveler dissatisfaction, according to a Morning Consult study. While increased personalization and expanded perks have been well-received, many travelers find the programs more complicated and less rewarding. Morning Consult's report, "What Travelers Actually Want from Loyalty Programs," found that U.S. travel loyalty program membership remained steady from 2021 to 2024. Millennials and high earners are the most frequent members, but no demographic group has shown significant growth. The study, conducted with 4,450 U.S. adults on Oct. 10 to 11, alongside monthly surveys from October 2021 to March 2024 with about 2,200 adults each, revealed one key finding: loyalty program members are more likely to stay at hotels or fly with airlines where they hold memberships, compared to choosing other providers.
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