PRICES FOR TRAVEL goods and services decreased by 1.4 percent in June for the second consecutive month, outpacing the overall economy's 0.1 percent decline,
according to the latest Consumer Price Index data from the U.S. Travel Association. The Travel Price Index indicated that lower hotel, airline, and gas prices were
the primary contributors to the sector's significant price reduction.
In contrast, the broader economy experienced its first monthly price decline since 2020, USTA said in a statement.
"Now is the time for the travel industry to boost volume," said Geoff Freeman, USTA's president and CEO. "We've already seen travelers take advantage, with eight
of the 10 busiest days in TSA's history occurring in 2024. It's essential that the industry is equipped with the right funding, resources and technology - coupled
with sustained government focus - to meet an increase in demand."
MOST ECONOMY AND MID-PRICE extended-stay hotels' performance in September was down compared to August, according to a report from hotel investment advisors The Highland Group. However, the bottom-up recovery and room supply distribution geographically are hindering the upscale segment's recovery.
Relative to other classes of hotels, mid-price extended-stay hotels recorded the largest gain in September, the U.S. Extended-Stay Hotels Bulletin: September 2021 report said. Occupancy, ADR and RevPAR indices for upscale extended-stay hotels were about the same in September as in August but the decline in absolute ADR resulted in the segment's revenue recovery falling below 95 percent.
Economy and mid-price segments both reported about a three-point gain in ADR recovery index in September compared to the month before. The upscale segment's ADR
remained unchanged, the report said.
"The mid-price extended-stay segment's gains in both ADR and occupancy pushed it slightly ahead of the upscale segment in terms of RevPAR growth. Because the overall hotel industry lost far more RevPAR than extended-stay hotels, its RevPAR growth in September 2021 compared to last year was 85 percent more than extended-stay hotels," the report added.
U.S. EXTENDED-STAY HOTELS set new performance records for demand, ADR and RevPAR in the third quarter of 2022, according to a report from The Highland Group.
However, rate resistance is growing at lower price points as recession fears loom.
The "U.S. Extended-stay Hotels: Third quarter 2022" report by the Highland Group said that the economy extended-stay segment reported six consecutive months of
demand drop and two successive quarterly falls in occupancy in the quarter ending September.
"Mid-price extended-stay hotels reported first quarterly decline in occupancy since fourth quarter of 2020. Excluding the last 15 months, extended-stay hotel ADR
is still increasing at the fastest rate for 20 years but, like the overall hotel industry, ADR growth continues to decelerate," the report said. "The slowdown in
ADR growth is greatest at higher price points although mid-price and upscale extended-stay ADR is still increasing faster than the economy segment."
U.S. TRAVELERS SAID that gas prices and inflation will impact their summer travel decisions more than COVID-19 concerns, according to a survey commissioned
by the American Hotel & Lodging Association.
The survey, conducted by Morning Consult and released just ahead of the Memorial Day holiday weekend ending May 30, revealed that more than half of the respondents,
57 percent, are likely to take fewer leisure trips and 54 percent will take shorter trips due to current gas prices.
The majority of people surveyed, 82 percent, said that gas prices will have at least some impact on their travel destinations.
Check the on-road price of Honda CB Unicorn 160 in Ajmer at SAGMart. We include the RTO Tax, Insurance, etc. on Honda CB Unicorn 160 ex-showroom price.
Are you lived in Dausa check the on-road price of Honda CB Unicorn 160 in Dausa at SAGMart. We include the RTO Tax, Insurance, etc. on Honda CB Unicorn 160 ex-showroom price.
Get the on-road price of Honda CB Unicorn 160 in Udaipur at SAGMart. We include the RTO Tax, Insurance, etc. on Honda CB Unicorn 160 ex-showroom price.
HOTEL STOCK PRICE volatility dragged the Baird/STR Hotel Stock Index in November. Both the hotel brands and hotel REITs significantly underperformed their respective benchmarks during the month.
The Baird/STR index fell 7.6 percent during the month from October. However, it was up 11.5 percent year to date through the first 11 months of 2021. The index rose 6.8 percent during October compared to September.
The index was behind both the S&P 500, which fell 0.8 percent in November, and the MSCI US REIT Index, which dropped 0.9 percent. The hotel brand sub-index dropped 7.2 percent from October while the hotel REIT sub-index slipped 8.9 percent.
"Hotel stock price volatility continued in November with both the Hotel brands and Hotel REITs significantly underperforming their respective benchmarks," said Michael Bellisario, senior hotel research analyst and director at Baird. "Two different investment narratives drove stock price performance during the month: In early November, third quarter earnings were better than expected, reopening optimism continued to gain momentum, and the hotel brands were hitting new all-time highs; but, by the end of the month, broader growth and inflation concerns surfaced, the Omicron variant spooked investors and impacted all travel-related stocks, and the hotel REITs were hitting new year-to-date lows."
MONTHS OF RUMOR were confirmed true when Choice Hotels International on Wednesday announced it has proposed to acquire Wyndham Hotels & Resorts in an
approximately $9.8 billion transaction. The proposal to Wyndham stockholders came after months of negotiations broke down and Wyndham's board of directors
voted to decline Choice's offer, calling it "underwhelming" and risky.
AAHOA also issued a statement saying it has "high concern" that a Choice/Wyndham merger would give one franchiser too much dominance over the economy/limited
service hotel segment.
The proposal
In its announcement of the proposal, Choice said it sought to acquire all the outstanding shares of Wyndham at a price of $90 per share, payable in a mix of
cash and stock. Shareholders would receive $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own. Choice claims that is a
26 percent premium to Wyndham's 30-day volume-weighted average closing price ending on Oct. 16, an 11 percent premium to Wyndham's 52-week high, and a 30 percent
premium to Wyndham's latest closing price.
CHOICE HOTELS INTERNATIONAL is accusing the board of directors for Wyndham Hotels & Resorts of not being forthcoming with the company's shareholders
regarding Choice's exchange offer to acquire Wyndham. In its counter to the Wyndham board's rejection of the offer, Choice took issue with Wyndham's concerns
about getting regulatory approval for the deal and said Wyndham shareholders support the "industrial merits of a transaction."
In its original proposal, made public in October, Choice said it sought to acquire all the outstanding shares of Wyndham at a price of $90 per share and
shareholders would have received $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own. Choice claimed that is a 30 percent
premium to Wyndham's 30-day volume-weighted average closing price ending on Oct. 16, an 11 percent premium to Wyndham's 52-week high, and a 30 percent premium to
Wyndham's latest closing price.
Wyndham's board unanimously rejected Choice's proposal, calling it unsolicited, "highly conditional" and not in the best interest of shareholders. On Nov. 14,
however, Choice sent a letter to the Wyndham board with an "enhanced proposal" intended to address Wyndham's concerns about clearing federal regulations.
On Dec. 12, Choice launched its public exchange offer to acquire Wyndham and on Dec. 19 the Wyndham board officially rejected the offer and urged shareholders
not to tender shares for the deal.
U.S. EXTENDED-STAY hotels continued to perform well in November with recovery indices up compared to October and 2019, according to a report from The Highland
Group. However, the market is showing signs of slowing.
All extended-stay segments posted RevPAR gains in November compared to last year, the US Extended-Stay Hotels Bulletin: November 2022 report said.
"Monthly gains in ADR and RevPAR have decelerated for most of the year and November increases were the lowest in 2022. Both economy and mid-price segments reported
RevPAR increases well below the rate of inflation for the first time in November," the report said. "ADR growth is still high compared to long-term averages but
with the economy segment reporting its eighth consecutive monthly decline in demand and mid-price extended-stay hotel demand also declining in November, rate
resistance is building especially at lower price points."
A LAWSUIT FILED in federal court in Washington state alleges that STR, owned by commercial real estate information researcher CoStar Group, along with
several major hotel companies conspired to inflate luxury hotel rates. The seven individuals named as plaintiffs in the lawsuit seek to make it a class-action
filing on behalf of every person who stayed at the defendants' hotels from February 2020 until the present for an unspecified amount.
CoStar and hotel companies including IHG Hotel & Resorts, Marriott International and Hyatt Hotels Corp., entered an exchange of "competitively-sensitive
information about their prices, supply, and future plans" in violation of the antitrust provisions of the Sherman Act, according to the lawsuit. STR and most
of the other defendants in the suit did not respond to requests for comment in time for this article, but a spokesperson for IHG said the company could not
comment on pending litigation.
"Teddy Roosevelt passed the antitrust laws to prevent titans of industry from price fixing in smoke-filled rooms," Steve Berman, the plaintiffs' lead attorney
told Reuters, calling the defendants' conduct the "modern equivalent."
The alleged price fixing happened in major cities including Boston, Chicago, Los Angeles, New York, San Diego, Denver, Washington, D.C., and Seattle. The lawsuit
focuses on STR's "Forward STAR" product that was expanded into many of those markets in April after launching 17 of the country's 25 largest hotel markets,
including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix.
STR AND TOURISM Economics made significant downward adjustments to the 2024-25 U.S. hotel forecast, reflecting lower-than-expected performance and reduced
growth projections for the remainder of the year. Projected gains in ADR and RevPAR were downgraded by 1 and 2.1 percentage points, respectively. Occupancy is
also expected to decline, contrasting with the previous forecast's projection of year-over-year growth in this metric.
While an occupancy growth projection was maintained for 2025, ADR and RevPAR were adjusted downward by 0.8 and 0.9 percentage points, respectively, STR and TE said
in a joint statement.
"We have seen a bifurcation in hotel performance over the first four months of the year, which we don't believe will abate soon," said Amanda Hite, STR's president.
"The increased cost of living is affecting lower-to-middle income households and their ability to travel, thus lessening demand for hotels in the lower price tier.
The upscale through luxury tier is seeing healthy demand, but pricing power has waned given changes in mix and travel patterns and to a lesser extent, economic
conditions. Travel remains a priority for most Americans, but the volume has lessened as prices on goods and services continue to rise."
STR FILED A motion to dismiss a lawsuit that claims it, along with several major hotel companies conspired to inflate luxury hotel rates. The research
firm said in the motion that the seven individuals named as plaintiffs in the lawsuit failed to show a knowing conspiracy to fix prices through STR's "Forward
STAR" program in violation of federal antitrust laws.
The lawsuit, filed in February in federal court in Washington state, alleges that STR, owned by commercial real estate information researcher CoStar Group, and
hotel companies including IHG Hotel & Resorts, Marriott International and Hyatt Hotels Corp., entered an exchange of "competitively-sensitive information about
their prices, supply, and future plans" in violation of the antitrust provisions of the Sherman Act, according to the lawsuit.
The plaintiffs seek to make it a class-action filing on behalf of every person who stayed at the defendants' hotels from February 2020 until the present for an
unspecified amount. However, STR's motion claims it fails to provide evidence of any illegal actions and is mistakenly part of a current legal trend.
IDEAS, A SAS company specializing in hospitality revenue management software, recently integrated nearly 2,000 properties with the Oracle Hospitality
Integration Platform. This connects their RMS solutions, including IDeaS G3 RMS, with Oracle's OPERA Cloud platform, accessible via OHIP and the Oracle Cloud
Marketplace, the companies said in a joint statement.
"The hospitality industry has long craved faster data exchanges and more capabilities to handle ever-increasing data volumes, and OHIP delivers precisely
that," said Klaus Kohlmayr, IDeaS' chief evangelist and development officer. "By accelerating data exchange and efficiently transmitting the staggering 12 billion
pricing decisions IDeaS processes daily, OHIP empowers us to innovate faster as partners with Oracle. This goes beyond pricing and forecasting. It unlocks the
true potential of data-driven revenue management, allowing hoteliers to make smarter decisions and achieve optimal results."
The two companies share nearly 10,000 clients, the statement said. IDeaS is connecting 50 to 100 hotels per week, allowing for faster implementation of future
capabilities and additional solutions.
Mytravelshanti offers Complete Rajasthan Tour packages including Rajasthan Tour Rajasthan Tour Packages at affordable prices and cities like Jaipur, Bikaner, Jaisalmer, Jodhpur, Mount abu, Sam Sand dunes and Udaipur WhatsApp +91-99-102-33433. We are offering Rajasthan Tour packages at affordable Prices.
This blog provides all latest bike information. We are give news about the all upcoming bike in the Indian market. If you want buy a new bike, then can first all of see view all bike models, variants, specification and Bike price here.
Citrus holidays provides you wide range of best holiday packages, cheap and best priced holiday for your dream tour to City Break Europe, All Inclusive Offers, Twin Center and lots of other places.