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asianhospitality

October Extended-Stay Hotel Boom: Surpassing Industry Metrics - 0 views

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    EXTENDED-STAY HOTELS OUTPEFORMED the broader hotel industry across all performance metrics in October, marking a notably strong month for the sector, according to the Highland Group. Extended-stay supply outpaced demand, leading to a decrease in occupancy. However, the decline was less pronounced than the overall hotel industry, where STR/CoStar reported a drop in demand compared to the previous year. Furthermore, the metrics of extended-stay hotels, including ADR, RevPAR, and revenues, demonstrated stronger growth compared to their counterparts in the broader hotel industry, the Highland Group said. the 2.2 percent net rise in extended-stay room supply in October, consistent with September, represents a modest increase compared to the average over the past 16 months. However, October marked the 25th consecutive month of 4 percent or less supply growth, significantly below the long-term average. the 12 percent surge in economy extended-stay supply, coupled with a reduction in mid-price segment rooms, primarily results from conversions, as new construction in the economy segment is estimated at around 2 percent of rooms compared to a year ago, the report added.
asianhospitality

Wyndham board officially recommends against Choice offer - 0 views

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    WYNDHAM HOTELS & RESORTS' board of directors has officially advised the company's shareholders not to support an exchange offer from Choice Hotels International to acquire Wyndham. the offer is "insufficient" and prone to regulatory risks, the board said. Choice announced its latest offer directly to Wyndham stockholders last week. At that time, Wyndham's board said at that time that it would review the offer, though it also said it appeared to be the same as the original offer it rejected in November. On Monday, the board released its official statement rejecting the latest offer. "Choice has, once again, failed to address the major value gap and risks of their offer - which remains virtually unchanged from the terms outlined in their previous unsolicited proposal," said Stephen Holmes, chairman of the board. "the core issues we have articulated remain the same: a likely prolonged regulatory review period of up to 24 months with an uncertain outcome; the pure inadequacy of the offer from a valuation standpoint, including the significant equity component of Choice stock; and the lack of consideration for Wyndham's superior, standalone growth prospects."
asianhospitality

Report: All performance metrics up for U.S. hotels in fourth quarter - 0 views

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    U.S. EXTENDED-STAY HOTELS set new records for demand, ADR, RevPAR and room revenues in the fourth quarter of 2022, according to a report from hotel investment advisors the Highland Group. Also, the report showed rate resistance is apparent at lower price points due to recession and the economy extended-stay segment reported nine consecutive months of declining demand and three successive quarterly falls in occupancy. According to the Highland Group's "U.S. Extended-Stay Hotels: Fourth Quarter 2022" report, mid-price extended-stay hotels reported their second consecutive quarterly decline in occupancy in fourth quarter. Similar occupancy declines occurred for about two years starting in mid-2015 before ADR growth moderated and occupancy recovered. Extended-stay hotel supply growth was the lowest since 2013 during the quarter, below its long-term historical average for 20 consecutive quarters. the last time extended-stay supply growth was consistently near its current level was from 2010 fourth quarter through third quarter of 2014. "Extended-stay hotel RevPAR was more than 12 percent higher than in fourth quarter of 2019. there were 567,770 extended-stay hotel rooms open at the end of the quarter. Excluding 2020, the 6,481 net gain in rooms open over the last year was the lowest annual increase since 2012. Room nights available increased 1.2 percent over the last year which was the smallest annual gain in supply for nine years," the report said. "Fractional net economy and upscale segment supply gains compared to 2021 are largely due to re-branding moving rooms between segments in our database, de-flagging of hotels which no longer meet brand standards, as well as the sales of some hotels to multi-family apartment companies and municipalities."
asianhospitality

AAHOACON23 breaks record for exhibit space sold - 0 views

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    AAHOA'S NEXT ANNUAL conference and tradeshow, set for April 11 to 14 in Los Angeles, already has set a record for the number of booths sold. It will be the largest conference in 34 years, AAHOA said. the association has sold 81,900 square feet of exhibit space for the upcoming AAHOA Convention & Trade Show, exceeding the 77,500 square feet sold for the 2019 conference, which was previously the record holder. In addition, as of Feb. 8, AAHOA has nearly doubled the registration total of lifetime members compared to AAHOACON22, and the organization is still on pace to exceed 2019 registration totals of more than 8,000 attendees "I've been in the exhibition business for a long time, and I'm so impressed to see the enthusiasm, excitement, and response from vendors who are looking to do business with AAHOA Members," said Dennis Smith, AAHOA vice president of business development. "Our team is thrilled to reach this historical milestone, with the ultimate goal of connecting as many AAHOA Members as possible with the product and service providers who can help them make money, save money, protect their investments, and better serve their guests." AAHOA's 20,000 members spend $50 billion with suppliers attending the event each year. "I always look forward to the industry's Super Bowl event, and this year, as I conclude my term as AAHOA Chairman, I'm proud of the work our association has done to prepare for the event and connect even more vendors directly with decision makers," said Nishant "Neal" Patel, AAHOA chairman. "AAHOA Members spend billions of dollars each year with suppliers, and AAHOA plays an important role in connecting hoteliers directly with those who can help them run a better, more profitable, and more efficient business - AAHOACON is where deals are made."
asianhospitality

STR: Hotels' performance up in March's 2nd week with spring break boost - 0 views

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    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.
asianhospitality

Wyndham CEO Ballotti receiving Arne Sorenson Award - 0 views

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    GEOFF BALLOTTI, PRESIDENT and CEO of Wyndham Hotels & Resorts, is the second recipient of the Arne Sorenson Social Impact Leadership Award. the award is presented by the American Hotel & Lodging Association, the American Hotel & Lodging Foundation and the BHN Group. Ballotti will receive the award Jan. 22 AHLA Foundation's premier fundraising gala, Night of a Thousand Stars, and again during the 22nd Annual Americas Lodging Investment Summit in Los Angeles on Jan. 24, according to AHLA. the award is named after Arne Sorenson, the former president and CEO of Marriott International who passed away in 2021, and in December of that year David Kong, the recently retired president and CEO of Best Western Hotel Group, was the inaugural recipient. "Geoff - much like Arne - is a true embodiment of all the good that hospitality represents. His empathy, his accessibility and his commitment to doing the right thing is what makes him one of our industry's greatest leaders," said Chip Rogers, AHLA president and CEO. "the story of his success, from dishwasher to CEO of the world's largest hotel franchisor, is inspirational - as is his dedication to ensuring the success of future hotel leaders. I am lucky to call Geoff a colleague and friend, and it fills me with pride to honor him with this award."
asianhospitality

Lawsuit alleges STR program violates antitrust laws - 0 views

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    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.
asianhospitality

LE: New York leads pipeline with 47 hotels under construction - 0 views

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    NEW YORK LEADS the top 50 U.S. markets in hotel construction with 47 projects and 7,655 rooms currently underway, according to Lodging Econometrics. the city has a total of 78 projects and 13,549 rooms in its hotel construction pipeline, the 10th largest in the U.S. Projects set to start in the next 12 months include eight projects with 1,079 rooms, while early planning includes 23 projects with 4,815 rooms, according to LE's Q1 2024 Market Trend Report for New York, released before the NYU International Hospitality Industry Investment Conference. Within the New York market, the three submarkets with the largest hotel construction pipelines are the New York City area (including Brooklyn East, the Bronx, and Staten Island) with 25 projects and 2,096 rooms, the report said. Similarly, the Midtown South area features 11 projects and 2,535 rooms, while the Midtown West/Times Square area has 10 projects and 4,131 rooms. Combined, these submarkets account for 59 percent of the projects and 65 percent of the rooms in the market's total construction pipeline.
asianhospitality

U.S. doubles H-2B seasonal worker visas for 2024 - 0 views

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    THE DEPARTMENT OF Homeland Security will issue more than 64,000 additional H-2B visas for fiscal year 2024, surpassing a congressionally authorized discretionary cap for THE second consecutive year. THE American Hotel & Lodging Association, AAHOA and oTHErs have been lobbying for THE increase as a step to relieving THE labor shortage challenge in THE hotel industry. A forthcoming interim final rule, which was announced on Friday, will additionally approve temporary work visas, bringing THE total to over 130,000 including those issued under THE regular annual cap of 66,000. Chip Rogers, AHLA president and CEO, commended THE federal government's action. "THE H-2B Workforce Coalition, which AHLA co-chairs, worked hard to convince THE Biden administration to offer this considerable expansion, which nearly doubles THE yearly allocation of H-2B visas," said Rogers. "THEse extra visas will be crucial to helping hotels and resorts in remote vacation destinations fill seasonal roles, and we thank Homeland Security Secretary Mayorkas for making THEm available. But we still need help from Congress to get hoteliers across THE country all THE employees THEy need. That includes establishing an H-2B returning worker exemption, passing THE Asylum Seeker Work Authorization Act, and passing THE H-2 Improvements to Relieve Employers (HIRE) Act."
asianhospitality

ONLINE DATING:MAJOR REASONS FOR THE RISING POPULARITY - 0 views

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    With the internet enabling dating a fully-fledged culture, online dating has become widely popular. Almost every young fellow understands how to meet girls online. they would be aware of a few techniques, online etiquette, and the best ways to pick up women. On the other hand, women would not mind such flirtatious conversation and an occasional pick up as well. the rising popularity of online dating the foremost reason for the popularity of online dating is it saves time. Earlier dating used to be a lengthy process where the man has to win the woman's heart, bring her flowers, buy presents, pull up to her place, book a place for a meetup, contact her for the next date, and think through the situation of your date. However, online dating has skipped several steps from the beginning. People have started to value words more than their actions. Online dating has united people from different parts of the globe. It does not need a comprehensive knowledge of the place to meet women online. You could reach anywhere across the world with a click of a mouse on Meetagirls, talk to a specific group, or develop a relationship with a woman whom you could never see otherwise. Online dating has brought a variety to the world. It has been amazing how easy you would unite people of different skin tones, races, complexions, religions, races, outlooks, and more. You would choose from a wide list of options or simply look for another available option.
asianhospitality

AHLA to host inaugural General Manager Summit In June - 0 views

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    THE AMERICAN HOTEL & Lodging Association is set to host THE inaugural General Manager Summit at "THE Hospitality Show" on June 28 at THE Venetian Resort Las Vegas. THE first-of-its kind event will be held annually and bring togeTHEr hotel GMs from across THE country to hear from expert speakers, share best practices and network. THE event will also celebrate THE industry's best GMs via an awards ceremony, AHLA said in a statement. "General Managers are THE backbone of any hotel, and that's precisely why AHLA offers this important group of professionals a host of top-notch professional development, networking and event opportunities," said Chip Rogers, president and CEO of AHLA. "AHLA's General Manager Summit at THE Hospitality Show is THE can't-miss event of THE year for GMs, and we're excited to see you THEre this June." AHLA said THE event is free for all GMs attending THE Hospitality Show, which takes place June 27-29 at THE Venetian Las Vegas, but GM summit attendees must register for THE event here.
asianhospitality

Chef José Andrés to speak at The Hospitality Show 2024 - 0 views

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    CHEF AND HUMANITARIAN José Andrés will deliver the opening keynote at the Hospitality Show on Oct. 28. the three-day event, organized by Questex and the American Hotel & Lodging Association, will take place from Oct. 28 to 30 at the Henry B. González Convention Center in San Antonio, Texas. Additional speakers and program updates will be announced in the coming months, AHLA said in a statement. In the discussion titled "Changing the World Through the Power of Food," Andrés, a food and hunger advocate, will express his belief that "food is a basic human right," AHLA said. the World Central Kitchen, the non-profit he founded in 2010 to provide food relief after disasters, has delivered over 350 million meals worldwide. Andrés also founded José Andrés Group, which owns restaurants such as the two-Michelin-starred minibar in Washington D.C., Mercado Little Spain in New York City and multiple locations of the Bazaar by José Andrés, the statement said. Andrés popularized Spanish tapas in the U.S. and introduced avant-garde cuisine.
nepalkailash

Everest Base Camp Trekking, Trek to Everest Base Camp - 0 views

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    Everest Base Camp Trekking gives to your mind spirituality breathtaking feeling. Trek to Everest Base Camp is an adventure altitude challenging too. Trek to Everest base Camp or EBC offers a chance to go around traditional Sherpa villages and Gompas. Everest Base Camp trekking lies in the Khumbu Valley has turned out to be one of the most popular peak trekking destinations. Mount Everest base camp is situated approximately 120km north east of Kathmandu. Everest trek is primarily poised with rocky landscape and surrounded deep narrow valley and set at the height of 8848 m in the north and 2845m in the south. the areas around Khumbu are commonly called as the Everest Region. Everest base camp trekking will be one of the best memorable while climbing Everest base camp. Mount Everest base camp trekking is a magnificent mountains view and adventure trekking in Nepal. Everest Base camp Trekking, we observe the spotless peak, Buddhist way of life and arresting valleys as well. the magnificence of the huge Mount Everest base camp lying dominates all other giant peaks and this captivating scene of Mt. Everest and other wonderful peaks shines wonderfully during the daytime. Everest base camp trekking offers great chance to see Mount Everest which, the tallest mountain in the world and awe-inspiring peak vista and explores the lives of the Sherpa traditions.
asianhospitality

Hotel Associations Welcome Infrastructure Bill, With Caveat - 0 views

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    HOTEL AND TRAVEL associations welcomed the passage of the bipartisan infrastructure bill by the House of Representatives over the weekend, saying the measure is long overdue. At the same time, there is some concern that the bill also eliminates a key piece of federal assistance to companies struggling to retain jobs during the COVID-19 pandemic. the House passed the $1.2 trillion Infrastructure Investment and Jobs Act on Friday after months of debate over it and the related Build Back Better legislation, which is still pending. the bill, according to the Associated Press, contains: $110 billion to repair the nation's aging highways, bridges and roads, including almost $40 billion for bridges alone $39 billion to expand public transportation systems $66 billion to improve Amtrak's Northeast Corridor $65 billion to improve broadband internet access $7.5 billion for electric vehicle charging stations $65 billion to improve the reliability and resiliency of the power grid $25 billion to improve airport runways, gates, taxiways and terminals $55 billion on water and wastewater infrastructure. That includes $15 billion to replace lead pipes and $10 billion to address water contamination from polyfluoroalkyl substances
asianhospitality

DHS, DHL Add 20,000 More H-2B Visas For FY 2022 - 0 views

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    ON MONDAY, THE Department of Homeland Security and THE Department of Labor authorized an additional 20,000 H-2B temporary nonagricultural worker visas for fiscal year 2022. Travel and hospitality industry associations say THE authorization will help ease THE ongoing labor crisis. THE new visas, which permit employers to temporarily hire noncitizens to perform certain labor in THE U.S., are part of THE first supplemental cap THE DHS and DOL have allowed for THE H-2B visa program in THE first half of a fiscal year, according to a press release. THE visas will be set aside for U.S. employers seeking to employ additional workers on or before March 31. THE supplemental H-2B visa allocation includes 13,500 visas for returning workers who received an H-2B visa, or were oTHErwise granted H-2B status, during one of THE last three fiscal years. THE remaining 6,500 visas are exempt from THE returning worker requirement and are reserved for nationals of Haiti and THE NorTHErn Triangle countries of Honduras, Guatemala, and El Salvador.
asianhospitality

STR: Super Bowl to boost L.A. ADR and RevPAR - 0 views

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    IN ANOTHER SIGN of recovery from THE COVID-19 pandemic, this year's Super Bowl is expected to bring increases in hotel business to host city Los Angeles, according to STR. ADR and RevPAR are projected to reach THE second-highest levels for any Super Bowl weekend on record. During THE weekend of THE game, Feb. 11 to 13, STR forecasts that ADR will reach $445 and RevPAR will be around $396 in THE L.A. market. Occupancy is expected to hit 89 percent as fans flock in for THE game. "Since July, THE Los Angeles hotel market has consistently achieved monthly rates near or above pre-pandemic levels," said Blake Reiter, STR's director of custom forecasts. "Occupancy has been rapidly improving toward 2019 levels as well, but it hasn't reflected THE same degree of recovery. We expect THEre will be, at least to a certain extent, a curtailing of occupancy because of COVID. Of course, if THE NFL decides to switch venues as media reports have suggested, or implement more stringent protocols, L.A. hotel performance will certainly be among THE ripple effects." Los Angeles's Super Bowl hotel occupancy is projected to outperform last year's venue, Tampa, Florida, which saw 82.4 percent occupancy when THE home team, THE Tampa Bay Buccaneers, defeated THE Kansas City Chiefs. However, it is well below THE 92.8 percent Miami saw when it hosted THE game in 2020, and also is lower than what L.A. saw over THE comparable weekend period in 2020, 87.7 percent.
asianhospitality

May STR: U.S. hotels occupancy, ADR, RevPAR fall in second week - 0 views

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    U.S. WEEKLY HOTEL performance posted mixed year-over-year comparisons, while occupancy, ADR, and RevPAR declined in the second week of May over the previous week, according to STR. Meanwhile, "worsened comparisons than the week prior were expected due to normal given seasonal slowing and the negative side of the Mother's Day calendar shift," STR said. Occupancy was 65.1 percent for the week ending May 13, declined from 65.2 percent the week before and down 2 percent over the comparable week in 2022. ADR stood at $154.90, down from $157.62, and increased 3.4 percent from 2022. RevPAR came in at $100.81 in the last week, declined from $102.74 the week before and increased 1.3 percent against the same period in 2022. Among the top 25 markets, Philadelphia registered the only double-digit increase in occupancy in the second week of the month, up 13.3 percent to 73.2 percent. ADR jumped 14.5 to $189.50, while RevPAR was up 29.7 percent to $138.80. Of note, New York City, 83.7 percent, was the only major market to report occupancy above 80 percent. That level was up 3.9 percent year-over-year.
asianhospitality

Survey: Immigration reform needed to ease labor crisis - 0 views

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    A BIPARTISAN SOLUTION to the federal immigration issue is needed to reduce the still ongoing labor shortage for hotels, according to a survey from the American Hotel & Lodging Association. To accomplish that, AHLA affiliate Hospitality is Working created the Workforce and Immigration Initiative that includes a targeted advertising campaign promoting immigration reform and border security. U.S. Bureau of Labor and Statistics put hotel employment down by more than 350,000 jobs compared to February 2020, AHLA said in a statement. Hotels are looking to fill many of the jobs lost during the pandemic, including more than 105,000 hotel jobs currently open across the nation. "Workforce shortages are severely impacting America's economy, notably the leisure and hospitality sector, which is facing historic worker shortfalls. This crisis has contributed to high levels of inflation and restricted economic growth. Americans everywhere are feeling the impacts of these difficulties. To address the extraordinary workforce shortages, Congress and the administration must come together and find bipartisan solutions that include incorporating more immigrants into the American economy," said Chip Rogers, president and CEO of AHLA. "the goal of the newly launched Workforce and Immigration Initiative is to highlight the historic opportunity to take action on this critical issue. Americans are demanding our that leaders in Washington put partisan politics aside and prioritize growing our economy and workforce, by developing an efficient and workable immigration system. the time to act is now."
asianhospitality

IHG franchisees sue over data breach - 0 views

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    A GROUP OF InterContinental Hotels Group franchisees have filed a lawsuit against the company in connection with a cyber-attack that "significantly disrupted" its booking channels and other applications in mid-September. the lawsuit claims that IHG should have taken more steps to prevent the breach in light of warnings it received after a previous breach. IHG implemented a response plan, including notifying the relevant regulatory authorities, working with its technology suppliers and engaging external specialists to investigate the incident, according to the company. the breach affected IHG's reservations and customer care call centers, as well as internal systems, such as Merlin and the IHG Help Desk, according to a statement from AAHOA on the breach. the association said franchisees, including some of its members, saw a complete shutdown in guestroom bookings during this outage. On Sept. 15, several IHG franchisees filed a lawsuit against IHG in the U.S. District Court for the Northern District of Georgia Atlanta Division alleging the company should have done more to prevent the breach. the lawsuit references a similar breach the company experienced in 2017 as an example that IHG should have taken further steps to secure its system.
asianhospitality

Stonebridge acquires its first Las Vegas hotel - 0 views

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    STONEBRIDGE COS. RECENTLY acquired the DoubleTree by Hilton Hotel Las Vegas Airport, marking the Denver-based companies entrée in the Las Vegas market. the company, led by Aly-khan Merali as president and managing partner and founder and CEO Navin Dimond, plans to renovate the 190-room hotel. the DoubleTree, built in 1998, is near both the Harry Reid International Airport and the Las Vegas Strip. the planned renovations will include guest rooms and common areas, with work is anticipated to begin in the second quarter of 2023 and anticipated to end in the fourth quarter of that year. "We are excited to continue our growth with the recent acquisition of the DoubleTree Las Vegas Airport hotel. Our new partnership with TowerBrook Capital Partners and other private investors provides us a tremendous platform for us to achieve our significant growth plans throughout the U.S. and this acquisition is the first of many going forward," said Tom Brinkman, Stonebridge's president and chief operating officer. "Through our growth, we look forward to not only creating new jobs but also providing our team members exciting new opportunities, and we look forward to welcoming our newest team members at the DoubleTree to our Distinguished Hospitality team here at Stonebridge."
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