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asianhospitality

Florida AG targets vacation rental scams - 0 views

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    FLORIDA ATTORNEY GENERAL Ashley Moody is targeting fake postings offering vacation rental properties. The state's campaign against these specific scams plays into AAHOA's call for more short-term rental regulation, the association said. The scams involve fake postings offering vacation rental properties with requests for application fees or security deposits, according to Moody's office. Victims of the scam pay the deposit, only to find the listing has disappeared and so has the deposit money. The would-be vacationers often show up at the property and find that the actual owners have no record or intention of renting. "Florida is one of the most popular vacation destinations in the nation," Moody said. "Scammers will take advantage of this by creating fake vacation rental listings in hopes of stealing personal information and money. Whether you are traveling within the state or from out of state, make sure to take extra precautions when renting a vacation home to avoid being burned this summer vacation season."
asianhospitality

Survey: 80 percent of travelers less concerned about new COVID variant - 0 views

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    NEARLY 80 PERCENT of travelers said that the latest COVID-19 variant, BA5, is unlikely to make them cancel or postpone international travel this year, according to a survey from travel risk assessment firm Global Rescue. At the same time, Global Rescue said relaxed COVID-19 recommendations from the Centers for Disease Control and Prevention could encourage travelers' confidence. The floodgates are opening The Summer 2022 Global Rescue Traveler Safety and Sentiment Survey found that 68 percent of respondents have already traveled internationally since the pandemic. Another 16 percent expects to travel abroad by the end of the year and 9 percent plan to do so in the first quarter of 2023. "Whether it's revenge travel or responsible travel following vaccination, or a combination of both, 7-out-of-10 travelers are much less concerned about travel compared to the beginning of the pandemic," said Dan Richards, CEO of Global Rescue and a member of the U.S. Travel and Tourism Advisory Board at the U.S. Department of Commerce. "They feel safe enough to plan trips and vacations because they're vaccinated, borders are open, and they have confidence they'll be able to get home if the worst happens." The U.S. ending its requirement for a negative COVID test to enter the country in June also went far in increasing confidence and encouraging visits from international travelers, Richards said. Nearly half of travelers, 49 percent, said that they are more likely to travel internationally in the next 12 months as COVID related restrictions are relaxed.
asianhospitality

Baird/STR Hotel Stock Index up 1.4 percent in April - 0 views

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    STEERED BY SEVERAL factors, including the strong performance by several hotel brands, the Baird/STR Hotel Stock Index increased 1.4 percent in April to a level of 5,430, STR said in a statement. Growth is slowing, STR said, but will continue for the next quarter or more. "Hotel stocks increased in April, and the gains were driven by outperformance from the global hotel brands," said Michael Bellisario, senior hotel research analyst and director at Baird. "RevPAR trends have remained solid in the face of growing macroeconomic uncertainties and continued banking turmoil, and first-quarter earnings generally have surprised to the upside with positive full-year estimate revisions occurring. The Hotel REITs declined more than 2 percent in April and underperformed the RMZ, while the global hotel brands gained just over 2.5 percent and outperformed the S&P 500's return by 100 bps." According to STR, the Baird/STR Hotel Stock Index fell slightly behind the S&P 500, which was up 1.5 percent in April but came in above the MSCI US REIT Index, up 0.7 percent. The hotel brand sub-index jumped 2.5 percent from March to 10,178, while the hotel REIT sub-index dropped 2.6 percent to 1,045, it added. "The industry continues to revert to normal patterns and calendar shifts with growth slowing as forecasted," said Amanda Hite, STR president. "Monthly demand fell year over year for the first time since the recovery began in April 2021, but that decrease can be attributed to an extra Sunday on the calendar this year versus last. Without the extra Sunday, which is historically a low-performance night, demand would have been slightly up from last year. ADR, on the other hand, grew 3.4 percent, while RevPAR was up 1.8 percent - the lowest increase of the recovery thus far. Despite slowing growth, we expect the industry to see further gains throughout the summer and fall."
asianhospitality

Vision Hospitality breaks ground on Embassy Suites in Chattanooga, TN - 0 views

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    VISION HOSPITALITY GROUP recently broke ground on its Embassy Suites by Hilton in Chattanooga, Tennessee. The seven-story 184-suite Embassy Suites will be developed for $54 million and includes rooftop and street-level bars and a coffee area in an open lobby. The project also includes a leasable restaurant space and 5,000 total square feet of meeting space, Vision said in a statement. Vision said it will bring an economic boost to the destination with more than 100 jobs ranging from senior management positions, guest service agents, housekeepers and others. With a construction timeline of approximately two years led by Humphreys and Associates Contractors, LLC, the hotel is expected to open in the summer of 2025. "We are thrilled to begin construction on this project in our hometown of Chattanooga, just steps from our company headquarters," said Mitch Patel, Vision's president and CEO. "This project is our first Embassy Suites hotel, and we know the brand's value-added services are a perfect fit for this location welcoming both corporate and leisure travelers." Embassy Suites by Hilton, one of Hilton's 19 brands. Amenities will include a fitness center and an evening reception. Embassy Suites by Hilton has more than 260 open hotels, with 42 properties under development. The Embassy Suites Chattanooga is one among 15 projects in Vision's development pipeline expected to open in the next two years. The company's portfolio comprises 16 properties in Greater Chattanooga and 41 nationwide, the statement added.
asianhospitality

https://www.asianhospitality.com/cbre-raises-revpar-forecast-to-97-89-in-2023-up-6-percent-year-over-year/ - 0 views

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    DRIVEN BY STRONGER-than-expected demand and moderate supply, CBRE has raised its forecast for hotel performance again this year, resulting in increased occupancy. CBRE revised its forecast for 2023 RevPAR to $97.89, up 6 percent year-over-year and an increase of $0.43 rise from the previous forecast. This positive revision is based on a 65-basis-point increase in expected occupancy compared to the previous forecast issued in February, CBRE said in a statement. Furthermore, the ADR is projected to grow by 3.7 percent in 2023, slightly lower than the previous forecast of 4.2 percent. According to CBRE Hotels Research, this is primarily due to slightly lower inflation expectations and a higher proportion of group travel and shoulder-period demand, which typically have lower rates. CBRE's baseline scenario forecast envisages an average GDP growth of 0.8 percent and average inflation of 4.6 percent in 2023. Given the strong correlation between GDP and RevPAR growth, changes in the economic outlook will directly impact the performance of the lodging industry, CBRE noted. "We are already starting to see signs that the easing of travel restrictions in Japan and China, combined with continued improvements in group and independent business demand, are bolstering demand heading into the heavy summer travel season," said Rachael Rothman, head of hotel research & data analytics at CBRE.
asianhospitality

Days Inn launches 'complimentary' pillow to guests - 0 views

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    DAYS INN BY Wyndham has released a new, limited-edition pillow that offers compliments at the push of a button Voiced by comedic actor Patrick Warburton to celebrate summer, according to a statement. From compliments on travelers' PJs to a serenade sung by Warburton-each prerecorded message is a gift for guests, the company said. Best known for characters like Puddy on the NBC comedy Seinfeld, Buzz Lightyear on Buzz Lightyear of Star Command and Joe Swanson on Family Guy, Warburton brings his signature baritone bravado to his newest role with Day Inn. "The absolute best part of any job in entertainment is getting the chance to make people laugh and smile, which is what made this project with Days Inn such a perfect fit," said Warburton. "I can't wait for guests to open their eyes after a great night's sleep and hear fun and unexpected compliments to help them start their day. It's officially my new favorite kind of pillow talk."
asianhospitality

BAIRD/STR Hotel Stock Index dropped again in June - 0 views

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    THE BAIRD/STR HOTEL Stock Index dropped in June for the second consecutive month. The index dropped for the first time, after rising continuously for five months, in May. Baird/STR recorded a sharp fall of 19.3 percent in June, according to STR. The index dropped 5.8 percent in May. It went up 0.7 percent during April. It increased 2.2 percent in March after rising 4.1 percent in February. The index decreased 21.6 percent during the first six months of 2022. The Baird/STR Index fell behind both the S&P 500, dropped 8.4 percent from May and the MSCI US REIT Index, down 7.9 percent respectively during June. The hotel brand sub-index fell 19.3 percent from May, while the Hotel REIT sub-index dipped 19.5 percent during the month. "Hotel stocks continued on their downward trajectory in June and were significant relative under-performers as investors began to factor in an increasing likelihood of an impending recession," said Michael Bellisario, senior hotel research analyst and director at Baird. "While the upcoming summer travel months are expected to be strong, investors are looking beyond the near-term fundamental strength to a period when demand and ADR growth are likely to moderate, which is supported by the many macroeconomic indicators that are flashing signs of broader slowing."
asianhospitality

IHG, Atlanta colleges to recruit diverse graduates to hospitality - 0 views

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    IHG HOTELS & RESORTS hopes to draw more young college graduates to the hospitality field, particularly among historically underrepresented groups, through a new partnership with Clark Atlanta University and Morehouse College in Atlanta. As part of the tie-up, IHG will provide resources to support students' professional development in the hospitality sector and create employment opportunities. The initiative is part of IHG's early-career recruitment program, according to IHG, which also is based in Atlanta. "Our partnerships with Clark Atlanta University and Morehouse College underscore IHG's commitment to supporting the success of future leaders and increasing ethnically and racially diverse talent within our company," said Elie Maalouf, CEO of IHG Americas. "Our goal is to create meaningful engagements that open more doors of opportunity for underrepresented groups. I recently had the pleasure of meeting a few of our summer interns from both schools and it was inspiring to be among a new generation of up-and-coming talent that we hope will soon come back to IHG."
asianhospitality

Baird/STR Stock Index dropped 2.7 percent in August - 0 views

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    The index decreased 12.6 percent year-to-date through the first eight months of 2022. In August it also surpassed both the S&P 500, down 4.2 percent, and the MSCI US REIT Index, which dropped 6.1 percent. Also, the hotel brand sub-index fell 2.3 percent from July to 8,959, while the hotel REIT sub-index dropped 3.7 percent to 1,143. "Hotel stocks took a breather in August after July's sharp rebound. Despite the slight decline in stock prices, both the Global Hotel Brands and Hotel REITs outperformed their respective benchmarks in August," said Michael Bellisario, senior hotel research analyst and director at Baird. "Hotel trends have remained solid throughout the summer months despite all the capital markets volatility and macroeconomic uncertainties. However, investors appear somewhat skeptical about the prospects for a significant recovery in business transient travel post-Labor Day, and hotel stocks appear to be discounting this relatively conservative fundamental expectation, in our opinion."
asianhospitality

Embassy Suites Gulf Shores: A Gulf View Resort - 0 views

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    DD PARTNERS, PEACHTREE Group, and Woodbine Development are collaborating on Embassy Suites Gulf Shores, a resort with a Gulf of Mexico view located in tourism spot in Alabama. DD Partners and Woodbine lead the development and asset management of the 8-story joint venture project, with Peachtree overseeing resort operations. The project is currently in progress and is expected to be completed in the summer of 2025, the companies said in a joint statement. The 8-story property will feature 257 all-suite beachfront guestrooms, along with 13,620 square feet of enclosed meeting and pre-function space, including a 7,800-square-foot ballroom, the statement said. The resort will also feature a 3-story parking garage and 7,618 square feet of leasable retail space.
rohitkoundal469

Manali Travel Guide - 0 views

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    Manali, a picturesque town nestled in the Himalayas, is a magnet for travelers seeking both tranquility and adventure. Surrounded by snow-capped peaks, lush valleys, and the Beas River meandering through, it offers a breathtaking natural setting. The town itself is a vibrant mix of scenic beauty and cultural richness. Rohtang Pass, a high mountain pass, provides stunning vistas and thrilling snow activities during the summer months. Solang Valley is an adventure hub offering paragliding, zorbing, and skiing in winter. The Hadimba Temple, with its unique pagoda-like architecture, and the serene Vashisht hot springs are cultural and spiritual landmarks worth exploring. Manali's Old Manali area charms with its quaint cafes, artistic vibe, and local markets, offering an array of handmade crafts and Himalayan souvenirs. Whether it's trekking in the surrounding hills, indulging in local cuisines, or simply soaking in the mesmerizing beauty, Manali promises a memorable and rejuvenating experience for every traveler.
asianhospitality

Survey shows 88 percent jump in international travel - 0 views

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    NEARLY HALF OF travelers, or 49 percent, have already taken an international trip, according to a survey by travel risk and crisis response provider Global Rescue. That indicates an 88 percent jump in travel abroad since summer of 2021. The Winter 2022 Global Rescue Travel Safety and Sentiment survey has also revealed that domestically, 85 percent of respondents have already traveled, signaling an 18 percent increase during the period. The survey of more than 1,400 respondents between Jan. 25 to 29 found that nine out of 10 travelers are "much less or less" concerned about travel since the pandemic, showing a 22 percent increase in travel confidence. "All signals are pointing to the beginning of the end of international travel restrictions due to the pandemic. Countries like New Zealand, Denmark, Norway, Sweden and others are opening their borders as severe COVID-19 illnesses and hospitalizations decline, vaccinations increase and testing is more convenient. Domestic travel continues to increase but the big news is that travel abroad is surging," said Dan Richards, CEO of Global Rescue. "When people feel safe, they travel and we are seeing tremendous, positive change in the traveler confidence about their well-being."
asianhospitality

CHOICE 'S UPSCALE CAMBRIA GOES TO THE SHORE - 0 views

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    DRIVE-TO DESTINATIONS, such as beach towns, have seen steadily rising occupancy this summer as people seek to escape the restrictions of life in the COVID-19 pandemic. That is driving a wave of developments of Choice Hotels International's upscale Cambria brand around the country, including Cambria Hotel Ocean City - Bayfront in Ocean City, Maryland, developed by Mihir Wankawala of The Wankawala Organization. The eight-story, 137-room Cambria Ocean City - Bayfront, the fourth Cambria in the state, is near the city's Boardwalk and the Inlet event forums as well as other attractions like the Outlets Ocean City shopping center, Splash Mountain Water Park and Northside Park. Wankawala, who partnered with Tauhid Islam of PiNNacle Hospitality Group on the hotel, said he has confidence in the market despite the current pandemic related downturn. Work on the hotel had just been completed when the pandemic hit.
asianhospitality

LA QUINTA 'S 120TH DEL SOL PROPERTY OPENS IN NC - 0 views

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    La Quinta by Wyndham Selma is now open in Selma, North Carolina. Owned by Jay Sai Corp., it is the 120th hotel to open using the La Quinta Del Sol prototype. The 80-room hotel is near Raleigh-Durham International Airport and Smithfield Community Park. Amenities include an outdoor pool. Another Del Sol hotel is expected to open in Galveston, Texas, this summer, according to Wyndham. There are 175 La Quinta hotels in the development pipeline and openings scheduled this year in several markets, such as Nashville, Tennessee; Santa Cruz, California and Denver.
asianhospitality

CBRE: Higher rates, stronger demand to fuel 2024 RevPAR growth - 0 views

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    U.S. HOTEL REVPAR is expected to grow steadily in 2024, driven by improving group business, inbound international travel, and traditional transient business demand, according to CBRE. This follows a strong performance in 2023 that muted the new forecast in some areas. The research firm forecasted a 3 percent increase in RevPAR growth in 2024, with occupancy improving by 45 basis points and ADR increasing by 2.3 percent. It indicates ongoing recovery of the lodging industry, with RevPAR in 2024 expected to surpass 2019 levels by 13.2 percent, CBRE Hotels said in a statement. CBRE's baseline forecast expects 1.6 percent GDP growth and 2.5 percent average inflation in 2024. Given the strong correlation between GDP and RevPAR growth, the economy's strength will directly impact the lodging industry's performance, the statement said. "We expect RevPAR growth to be slower in the first quarter due to last year's strong performance, but to reach its peak in the third quarter driven by the influx of inbound international travelers during the busy summer season," said Rachael Rothman, CBRE's head of hotel research and data analytics. "Urban and airport locations should particularly benefit from group and inbound international travel, as well as the normalization of leisure travel."
asianhospitality

AAA: Nearly 44 million Americans plan to travel this Memorial Day weekend - 0 views

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    APPROXIMATELY 43.8 MILLION Americans will travel 50 miles or more from home, surpassing pre-pandemic figures, according to a forecast by AAA. This represents a 4 percent increase from last year and approaches the 2005 record of 44 million Memorial Day weekend travelers. A record 38.4 million are expected to drive, marking the highest number since AAA began tracking in 2000. "We haven't seen Memorial Day weekend travel numbers like these in almost 20 years," said Paula Twidale, AAA Travel's senior vice president. "We're projecting an additional one million travelers this holiday weekend compared to 2019, which not only means we're exceeding pre-pandemic levels but also signals a very busy summer travel season ahead." The number of drivers this year is up 4 percent compared to last year and 1.9 percent higher than in 2019, the auto club said. Traveling by car is appealing for many people because of the convenience and flexibility it provides.
asianhospitality

AAA: Nearly 71 million Americans expected to travel during Independence Day week - 0 views

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    APPROXIMATELY 70.9 MILLION U.S. travelers are expected to journey 50 miles or more from home over the Independence Day holiday, according to the latest AAA forecast. For the first time, AAA considered the entire week of July 4th, plus the Saturday before and the Sunday after the holiday. This year's projected number of travelers marks a 5 percent increase from 2023 and an 8 percent increase from 2019. "With summer vacations in full swing and the flexibility of remote work, more Americans are taking extended trips around Independence Day," said Paula Twidale, AAA Travel's senior vice president. "We anticipate this July 4th week will be the busiest ever with an additional 5.7 million people traveling compared to 2019." AAA estimated a record 60.6 million people will travel by car over Independence Day week, an increase of 2.8 million from last year. This year's number also surpasses the 55.3 million who traveled by car over July 4th week in 2019.
asianhospitality

Knowland unveils tool for hotels with limited meeting space | USA 2024 - 0 views

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    KNOWLAND RECENTLY LAUNCHED Knowland Select, a tool designed for hotels with limited meeting space. Knowland Select subscribers will receive a curated list of target accounts for upcoming need periods directly to the seller's inbox. The general market release of the product is scheduled for later this summer, Knowland said in a statement. "Knowland Select empowers limited service hotels, hardest hit by the recent travel slowdown, with automated prospecting," said Jeff Bzdawka, Knowland's CEO. "It streamlines prospecting for the segment's diverse hotel teams by directly delivering qualified accounts and contacts to the seller's inbox, boosting productivity and group business growth. Importantly, Knowland Select expands our suite of platform offerings to provide valuable sales intelligence solutions for all hotel sizes and chain scales in a portfolio. And with its accessible price point, it lowers the barrier to entry for automated prospecting at scale and helps hotels unlock a clear return on investment."
Elisa Graceffo

How to Protect your Passport from Damage while Traveling - 0 views

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    A torn or damaged passport can ruin your, long awaited summer trip to abroad. How? Well, if you are unaware of the state departments rules for damaged US passport, you might need to read the article here, before you ignore the small threads coming out of the edges of your passport. Know the criteria, where your passport might fall in damaged category and what are the precautions you need to take for a smooth travel. Also, know the important and handy tips to keep your passport safe while you are traveling.
Elisa Graceffo

What are the Visa Requirements of your Favorite Country in South America? - 0 views

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    Heading the south for your summer vacation can be the good idea, to escape the heat. But just before you leave, get ready with your passports and visas for the South American countries. Check out the visa requirements and fees of all South American countries, like, Brazil, Peru, Chile, and the overseas department of French Guiana, and the British overseas territory of the Falkland Islands.
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