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Innovation

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STR Projection Tool Enhancements by Newport Hospitality Enable Accurate Forecasting and Budgeting for Hotel Property Leaders

📈 Ownership groups and asset managers demand accurate hotel forecasting due to rising costs. The STR Projection Tool by Newport Hospitality Group aids in planning the fiscal year, using data from CoStar and STR. It offers comparisons with previous years, improving decision-making and revenue strategy for properties. Enhanced sections provide year-over-year comparisons, aiding stakeholders. Newport Hospitality Group, based in Williamsburg, VA, manages hotels of various brands…

Mergers & Acquisitions

Hotel Operations

Marketing & Revenue Management

Environment, Regulatory and CSR

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Middle East Travel Warnings Increase as Gulf Countries Offer Incentives Amid Low Tourism and Hotel Occupancies

🛬 July saw travel warnings escalate as fighting persisted in the Middle East, affecting tourism. On July 17, the U.S. Embassy in the UAE advised caution due to a complex security situation. Canada upgraded its advisory for the UAE and Saudi Arabia, while the UK cautioned potential regional attacks. Australia and New Zealand issued Level 3 warnings for several Gulf countries,…

Hotel Openings