LODGING Staff - 10 Minutes News for Hoteliers - Page 114

1 min

CoStar: Calendar Shift Leads to Positive Yearly Comparisons for U.S. Hotel Industry

📆 In the week of January 12-18, 2025, the U.S. hotel industry showed positive year-over-year growth: occupancy increased by 6.7% to 55.8%, ADR rose by 10% to $155.81, and RevPAR jumped by 17.4% to $86.93. San Francisco led the Top 25 Markets with occupancy rising 35.9% to 71.2%, ADR soaring 230% to $625.98, and RevPAR escalating 348.3% to $445.85, boosted by the J.P. Morgan Healthcare Conference. Washington, D.C. had the second-highest ADR and RevPAR increases, 52.8% to $221.62 and 83.9% to $131.16, respectively, ahead of the presidential inauguration. Dallas and Oahu were the exceptions, experiencing RevPAR declines of 4.7% to $78.50 and 1.7% to $217.99, respectively.

3 min

SiteMinder: Hotel Websites Outpaced Other Booking Sources in 2024

🏨 In 2024, hotel websites saw a 60% higher average revenue per booking at $519 compared to OTAs ($320), GDS ($380), and wholesalers/DMCs/tour operators ($446). This marked an 8.5% increase from the previous year. SiteMinder's report is based on over 125 million reservations made through their platform, used by more than 44,500 hotels, generating over $50 billion in revenue. U.S. top booking sources included Booking.com, Expedia Group, and direct hotel websites. International arrivals accounted for 25% of stays, with the U.S. maintaining a strong domestic market. Booking lead times in the U.S. reached 31.5 days, with cancellations dropping to 19.21%. Despite a 2.5% contraction in the average daily rate (ADR) to $273, the latter half of 2024 saw an increase in room rates, with July achieving the highest monthly ADR. Friday-night stays earned $67 more than Sundays, reflecting the U.S.'s revenue management leadership. Over 22% of U.S. guests stayed for two nights or longer.

1 min

CoStar: U.S. ADR and RevPAR Growth Slowed to 2020 Rate in 2024

🏨 In 2024, the U.S. hotel industry hit record-high average daily rate (ADR) at $158.67, up 1.7%, and revenue per available room (RevPAR) at $99.94, up 1.8%, despite experiencing the lowest growth rate since 2020. Occupancy remained flat at 63%. New York City led with the highest occupancy increase of 3.3% to 84.3%. In contrast, St. Louis (58.1%), Minneapolis (58.7%), and Detroit (59.1%) had the lowest. Top 25 Markets surpassed other markets in occupancy and ADR, while markets outside saw a 0.5% occupancy decline.

2 min

Choice Hotels and Westgate Resorts Join Partnership for Hotel Booking

🏠 Choice Hotels International, Inc. and Westgate Resorts partnered, making 21 Westgate properties bookable on Choice's website and mobile app, also reservable with Choice Privileges points. Properties span multiple states including Florida, Utah, Nevada, New York, Missouri, Tennessee, South Carolina, Virginia, and Arizona. The partnership expands Choice's upscale offerings and benefits over 68 million Choice Privileges members with more ways to use points and rewards. Notable properties include Westgate Park City Resort & Spa in Utah and Treasure Cove Water Park in Orlando, Florida.

2 min

Lodging Econometrics: U.S. Hotel Construction Pipeline Reaches Historic Levels

🏢 In Q4 2024, the U.S. hotel construction pipeline reached a record 6,378 projects and 746,986 rooms, showing a 7% YOY increase in projects and 8% in rooms. Under construction: 1,149 projects (142,238 rooms). Next 12 months: 2,259 projects (259,108 rooms). Early planning: 2,970 projects (345,640 rooms), up 15% in projects and 19% YOY in room counts. Leading segments: upper midscale (2,354 projects, 227,845 rooms) and upscale (1,471 projects, 182,474 rooms). New announcements in 2024: 459 projects (58,123 rooms). Brand conversions reached a high of 1,336 projects (128,736 rooms). Renovations: 661 projects (127,080 rooms). Hotel openings in 2024: 583 hotels (67,995 rooms) upping supply by 1.2%. Projected openings: 2025 (730 hotels, 82,538 rooms, 1.5% supply increase), 2026 (904 hotels, 97,328 rooms, 1.7% supply increase).

2 min

Procure Impact Co-Founders to Receive Leadership Award

🏡 CEOs Lauren McCann and Jen Collins, co-founders of Procure Impact, have been awarded the Arne Sorenson Social Impact Leadership Award by the AHLA, AHLA Foundation, and the BHN Group/Northstar Travel Group. Procure Impact aids employment for marginalized individuals, including trafficking survivors, veterans, and refugees. The award, established in 2022 to honor late Marriott CEO Arne Sorenson, will be presented on January 27, 2025, in Beverly Hills. In 2024, Procure Impact's Dignity of Work Pledge with AHLA members led to 100,000 hours of paid employment, with 23 hospitality companies committing over $7.4 million in purchases.

2 min

Pacifica Hotels Names Scott Roby as President

📌 Pacifica Hotels appointed Scott Roby as president to enhance operations across its portfolio. Roby previously founded Storyteller Hospitality and served as senior VP for Evolution Hospitality. He began his career at Hilton after graduating from Cornell University. CEO Matt Marquis is confident in Roby's impact on California and Hawaii's hospitality. Roby also contributes to cancer research and lectures on hospitality. His goal is to expand Pacifica Hotels' brand and cultivate owner partnerships.

2 min

AHLA Foundation Shares 2025 Board of Trustees

📈 The AHLA Foundation announced its 2025 Board of Trustees with Anu Saxena, president of Hilton Supply Management, as the new chair. The board welcomed new members from various companies such as Woodmont Lodging, KSL, Wyndham, Champion Hotels, Apple REIT, Seminole Hard Rock, and Virginia Restaurant, Lodging, and Travel Association. The Foundation focuses on strengthening the hotel industry's workforce through programs, research, and career development initiatives, aiming to create opportunities and drive lasting impact.

1 min

Access Point Financial Provides Refinancing for The Beekman, A Thompson Hotel

🏦 Access Point Financial (APF) provided a $195 million refinancing for The Beekman, a Thompson Hotel in Manhattan, New York. The 287-room luxury hotel, part of the Hyatt Thompson Brand, features a nine-story atrium lobby with dining options by Tom Colicchio and Daniel Boulud. APF offers a range of capital solutions for hospitality, including bridge loans and mezzanine financing. Eastdil served as the sponsor's advisor.

2 min

Resolute Road Hospitality Adds Doubletree by Hilton Spokane City Center to Portfolio

📢 Resolute Road Hospitality partners with JMA Ventures to manage the DoubleTree by Hilton Spokane City Center in Spokane, Washington, marking their expansion to eight US states. The hotel features 375 rooms, an outdoor pool, fitness and business centers, EV charging stations, and 21,720 square feet of meeting space across 17 rooms. It is connected to Spokane Convention Center and near Gonzaga University. Upcoming renovations aim to modernize the hotel's facilities and maintain its standing as a premier Spokane destination.

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