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COSTAR GROUP, A real estate marketplace and analytics provider, granted STR's hotel data subscribers access to its full product suite, enabling users to leverage multisegmented market analytics and forecasts. The services include a tenant database of 7.8 million spaces, an inventory of 6.7 million properties, a pipeline tracking 79,000 projects and a transactions database with 4.2 million sales comparables, CoStar said in a statement. "Today, CoStar becomes the product for tens of thousands of hotel users worldwide," said Andy Florance, CoStar Group's founder and CEO. "With access to the full product offering, hotel owners, operators and brand representatives will gain comprehensive insights across all commercial asset categories, enabling them to refine their sales strategy and identify new investment opportunities." STR's latest benchmarking solution debuted within the CoStar product in May 2023, the statement added. This comprehensive, multilingual tool offers enriched STAR Reports, detailed property and portfolio insights, and advanced visualizations to streamline revenue and performance management, operations, sales, marketing, and finance.

HYATT HOTELS CORP. recently selected the Oracle OPERA Cloud hospitality platform as the property management system for its global portfolio of more than 1,000 hotels and all-inclusive properties. The new PMS is expected to streamline operations, standardize data management and enhance guest experiences by enabling personalized service through a deeper understanding of guest preferences across stays. With OPERA Cloud's mobile capability, Hyatt employees can assist guests from anywhere, anytime, the companies said in a statement. "As one of the world's top hospitality companies, Hyatt is committed to caring for people so they can be their best," said Cameron Hammond, Hyatt's senior vice president of global field technology services. "In today's evolving environment, technology plays a critical role in empowering our colleagues to continue delivering unforgettable experiences to our guests. By moving to OPERA Cloud and extending our long-standing collaboration with Oracle, we will provide our operators and colleagues with a modern, secure platform to deliver better data insights and elevate their roles with greater ease and efficiency."

STR HAS UNVEILED the forward-looking component of its product "Forward STAR" in 104 new markets/submarkets across the U.S. and Canada. Forward STAR, which is presently live in 450 areas around the globe, allows hotel property and portfolio users to benchmark the next 365 days of occupancy on the books against the competition and market. "This launch represents our largest Forward STAR expansion to date and adds significant value to our overall benchmarking offering," said Amanda Hite, STR's president. "Adding to the historical data that drives so many operational decisions around the industry, this directly sourced forward data provides intel into where hotels can gain available business, adjust their approach to pricing, and implement actions around market events. When combining historical metrics, profitability data and these forward bookings insights, industry stakeholders are positioned to analyze performance from every angle." According to the statement, Forward STAR was launched in 17 of the country's 25 largest hotel markets, including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix. More granular submarkets were added with the addition of central business districts in markets such as Austin, Chicago, Nashville and New Orleans as well as airport submarkets in areas such as Miami, San Francisco and Bradenton, Florida.

CONTACTLESS CHECK-IN TECHNOLOGY firm Virdee is now integrated with commerce technology platform FreedomPay. The companies will offer a PCI-validated, point-to-point encryption solution with EMV, NFC, currency conversion and real-time data capabilities. The transition will help Virdee to offer end-to-end protection for credit card payments made through FreedomPay's cloud-based payments platform. It also provided FreedomPay compatibility with Virdee's check-in/check-out process with software for identity verification, payment collection, access control and remote support, according to Virdee. "Our integration with Virdee offers our customers expanded options, flexibility and, most important, security," said Chris Kronenthal, president of FreedomPay. "We help streamline and simplify complex payment options, while providing a single flow of data to facilitate consumer insights and engagement for our hotel clients. We're proud to partner with best-in-class solution providers, like Virdee, as we work together to revolutionize hotel operations and guest-facing technologies."

KNOWLAND, A HOSPITALITY data-as-a-service provider, recently integrated a sub-market filter into its search and dashboard functions, adding to its market snapshot and new-to-market capabilities. This new feature enables precise filtering down to the sub-market level within larger markets, identifying localized opportunities, Knowland said in a statement. "To stay agile in this competitive industry, hotel sellers must be savvy about community activity," said Jeff Bzdawka, Knowland's CEO. "With this localized market view, they see opportunities in their immediate area rather than sifting through broad datasets. We continue to innovate our platform with new features and functionalities to help sales teams excel in account-based selling and automate the sales process for better outcomes." Hotel sales teams rely on detailed data analytics for sourcing new business, Knowland said. The sub-market filter provides accessible metrics on top neighborhoods, aiding teams in adopting an account-based selling approach.

NOBLE INVESTMENT GROUP, led by Mit Shah as CEO, has closed the latest installment in its Noble Hospitality Fund V, securing $1 billion. The fund focuses on value-added investments in select-service and extended-stay hotels across the U.S. and was oversubscribed, attracting $1 billion in equity commitments from a global institutional base, Noble said in a statement. Ninety percent of Noble's existing limited partners recommit to Noble Fund V, alongside new institutional investors, Noble said. The company has achieved a 15 percent net IRR on $3 billion of realized capital over thirty years, spanning multiple market cycles. "Our team, sourcing relationships, research DNA, data, and insights continue to generate outstanding returns for our investors and provide Noble with a significant and scalable competitive advantage," said Shah. "The overwhelming support of Noble Fund V reflects the enduring trust of our limited partners, and we remain deeply grateful for their continued confidence in us as their fiduciary."

U.S. HOTEL REVENUE and profitability saw a rise in October, propelled by increased group demand across the top 25 markets, according to CoStar's October 2023 Profit & Loss data. Meanwhile, the U.S. hospitality industry also witnessed its largest year-over-year increases in GOPPAR and TRevPAR since March 2023. In October, GOPPAR reached $97.45, marking a 3.7 percent increase from the same month in 2022. TRevPAR stood at $240.74, indicating a 4 percent increase, whereas EBITDA PAR amounted to $69.60, down 1.2 percent from September 2022. Labor costs notably rose to $74.48, reflecting a 5.9 percent increase. "The top 25 markets have demonstrated an 11 percent year-to-date increase in GOPPAR, surpassing a 14 percent rise in labor costs," said Audrey Kallman, research analyst at STR. "This double-digit GOPPAR growth is over 10 times the level observed in all other markets. New York City, a prominent business-centric market, spearheaded growth in the metric across major markets both on a year-to-date and monthly basis."

U.S. HOTEL BOOKINGS for Dec. 21-25 are up 22 percent from last year, according to SiteMinder, a hotel distribution and revenue platform. The growth is driven by international bookings, which now account for 32 percent of total bookings, up from 28 percent during the same period in 2023, a more than 15 percent annual increase. The top five markets driving this growth are Canada, Germany, the UK, France, and Italy, SiteMinder data showed. "It's pleasing to see that U.S. hotels will be enjoying their share of Christmas cheer this year," said Trent Innes, SiteMinder's chief growth officer. "Increased bookings, driven by the strong return of international travel and continued confidence among domestic travelers, are also leading to longer stays and extended lead times. These positive trends present both an opportunity and a call to action for American hoteliers to provide tailored, seamless experiences this festive season, maximizing revenue while fostering loyalty and positive reviews."

INDEPENDENT HOTEL OPERATORS must refine their strategies to stay competitive in 2025 amid labor shortages, price-sensitive travelers and the growing dominance of branded hotels, which now account for 72 percent of U.S. properties, according to Cloudbeds. Furthermore, independent hoteliers are focusing on 2025 as the "year of optimizing performance." Cloudbeds' 2025 State of Independent Lodging Report provides a data-driven analysis of the global independent lodging segment, highlighting key trends across often-overlooked property types. "Hospitality is fundamentally human-and independent properties represent its heart and soul," said Adam Harris, Cloudbeds' cofounder and CEO. "Cloudbeds is helping these businesses transform challenges into opportunities, proving that being independent doesn't mean being alone. Together, we're building a future where independent hospitality businesses don't just survive-with access to technology like Cloudbeds Intelligence, they lead the way forward."

U.S. HOTEL PERFORMANCE has increased from the previous week, aligning with the extended holiday weekend, while year-over-year comparisons also continue to show positive trends, according to CoStar. The percentage changes showed positivity on weekdays due to comparisons with the Yom Kippur period from the previous year, but year-over-year occupancy rates still experienced a decline. Occupancy stood at 67.8 percent for the week ending on Oct. 7, a slight rise from the preceding week's 66.7 percent, with a marginal year-over-year decline of 0.2 percent, according to CoStar. ADR was $163.19, showing an increase from the previous week's $157.89 and a notable 5.4 percent surge compared to the previous year. RevPAR also saw an uptick to $110.68, surpassing the previous week's $105.31, and reflecting a 5.2 percent rise from 2022.

REAL ESTATE INVESTMENT management firm Noble Investment Group partnered with Host Hotels & Resorts to tap and expand travel, leisure and hospitality opportunities, a statement said. As part of the initiative, Host will invest $150 million as a limited partner in an existing Noble investment vehicle and provide Noble with first-look at select-service and extended-stay hotel opportunities sourced through Host's channels. Host also will become a minority investment partner in Noble's fee-based asset management business, according to Noble's press release. "As we continue to expand our institutional investment management platform, this strategic partnership further augments Noble's ability to develop, source, and execute innovative growth strategies in travel, leisure, and hospitality," said Mit Shah, Noble's CEO. According to the statement, the partnership will combine Noble's operational expertise and development acumen with Host's scale, market insights, data analytics, and breadth of resources. They aim to source differentiated investment strategies including property technology solutions, development, and alternative lodging.