LODGING Staff - 10 Minutes News for Hoteliers - Page 118

1 min

CoStar: Weekly Performance Increases for U.S. Hotel Industry

🏨 U.S. hotel industry saw a year-over-year increase in occupancy by 1.2% reaching 60%, ADR by 2.2% at $164.79, and RevPAR by 3.4% to $98.83 for the week of February 9-15, 2025. Chicago experienced the most significant occupancy rise of 14.4%, achieving 55.0%. New Orleans, hosting Super Bowl LIX, saw ADR soar by 42.8% to $314.37 and RevPAR by 33.5% to $222.66, despite a 6.5% drop in occupancy to 70.8%. In contrast, Las Vegas faced a decline with occupancy falling 7.1% to 76.4%, ADR dropping 30.6% to $202.10, and RevPAR plummeting 35.5% to $154.44.

1 min

DiamondRock Hospitality Completes Sale of Westin Washington, D.C. City Center

🏦 On Feb. 19, 2025, DiamondRock Hospitality Company sold the 410-room Westin Washington, D.C. City Center for $92.0 million. The sale reflects an 11.2x multiple on 2024 hotel EBITDA, a 7.5% capitalization rate on 2024 hotel net operating income, or 5.6% inclusive of projected capital expenditures. CEO Jeffrey J. Donnelly emphasizes the sale as part of a strategy to boost long-term earnings and shareholder value.

2 min

AHLA: Nearly Two-Thirds of Hotels Report Staffing Shortages

🏨 In Washington, the American Hotel & Lodging Association (AHLA) and Hireology survey reveals 65% of hotels still face staff shortages, despite higher pay and benefits. Pre-pandemic staffing levels are nearly 10% higher than current figures. Staff shortages decreased from 76% in May 2024 to 65% by year-end, with 9% of hotels "severely understaffed." Hotels aim to fill an average of 6-7 positions, struggling most with housekeeping (38%) and front desk (26%) roles. Key retention strategies include raising wages (47%), flexible hours (20%), and hotel discounts (13%).

2 min

CBRE Forecast Shows RevPAR to Increase in 2025

🏨 In Dallas, Texas, CBRE forecasts a 2.0% RevPAR growth for U.S. hotels in 2025, with occupancy up by 23 basis points and a 1.6% ADR increase. This marks a 16.6% higher RevPAR than in pre-pandemic 2019. The growth aligns with a 2.4% GDP growth and 2.5% average inflation expected in 2025. Urban hotels are predicted to lead with a 2.8% RevPAR increase. Major events like the 2026 FIFA World Cup and 2028 Summer Olympics, coupled with U.S. leisure appeals, are expected to sustain a 1.5% to 3.5% annual RevPAR growth range. CBRE anticipates investment resurgence and increased transaction activity in late 2025, despite potential supply growth below 1% over the next three years due to high costs and external economic factors.

2 min

Concord Hospitality Celebrates 40th Anniversary

🎊 Concord Hospitality, founded in 1985 in Ohio and now based in North Carolina, celebrates its 40th anniversary. With a portfolio including Hilton, Hyatt, Marriott, and IHG, the company has 145 hotels and 23,696 rooms across 25 states and two Canadian provinces, plus over 30 bars and restaurants. In 2024, Concord opened The Westin Atlanta Gwinnett, a 348-room hotel. For 2025, they plan to open 14 hotels and six restaurants, indicating ongoing expansion and investment in the hospitality sector.

2 min

JLL Report Shows Growth for Select-Service and Extended-Stay Segments

🏨 In 2024, the U.S. Select-Service and Extended-Stay Hotel sector saw a record RevPAR of $78, 14% above 2019. Demand increased by 232,000 room nights, nearly matching 2019 levels. The number of sector brands grew from 184 in 2000 to 214, capturing 74% of the room supply. Since 2021, the sector generated $62.6 billion in liquidity, 50% of U.S. hotel investment volume, showcasing low yield volatility over 16 years. Banks lead in lending, with more diversity from investor-driven lenders, insurance companies, and CMBS.

2 min

MGM Resorts Deploys Amadeus CRS Across North American Portfolio

🏨 MGM Resorts International deployed Amadeus Central Reservation System (ACRS) across its North American hotels, enhancing distribution capabilities and connections with both branded and third-party channels. The cloud-based system aims to reduce manual data management and prioritize key partner connections. With ACRS technology, MGM offers quick availability response times for all hotel types. Live across MGM North American properties, the partnership with Amadeus promises continuous innovation.

3 min

Choice Hotels Reports Q4 and Full-Year 2024 Results

💰 Choice Hotels International, Inc. reported a 16% rise in net income to $299.7 million for 2024, with a 22% increase in EPS to $6.20. Adjusted EBITDA hit $604.1 million, up 12%. Adjusted diluted EPS grew 13% to $6.88. Global rooms grew 3.3%; domestically, upscale, extended stay, and midscale rooms went up by 4.3%. The company opened 407 hotels, marking a 21% increase. A partnership with Westgate Resorts added 21 hotels and 14,471 rooms. Domestic RevPAR rose 4.5% for Q4. The company repurchased 3.1 million shares for $382.1 million and forecasts 2025 net income of $288-$300 million, with adjusted EBITDA between $625-$640 million.

3 min

This Week’s Comings & Goings

📅 Pacifica Hotels appoints Shalon Hopkins as SVP of accounting and finance, leveraging 20+ years of experience. The Kessler Collection names Brian McCormick as VP of people and culture to update workplace culture through corporate recruitment experience. Jason Raimondi joins Horwath HTL after founding JOR Hospitality Solutions. Hilton's Chintan Dadhich becomes complex GM of Tempo by Hilton Times Square and maintains his role at Conrad New York Downtown since 2022. Hotel Commonwealth welcomes back Shane McWeeny as GM with 20+ years of experience. Park Hyatt Los Cabos at Cabo Del Sol sets Adam Zilber as GM for Q2 2025 property launch, backed by his 25-year hospitality career. The St. Regis Bal Harbour Resort appoints Carlo Javakhia as GM; he brings 25 years of experience. Rosewood Le Guanahani St. Barth designates Thibaut Asso as resort manager. Claudio Togo becomes managing director at Chatham Bars Inn, after roles at luxury properties like Shangri-La Manila. The Stafford London names John McLean as managing director, touting a global hotel career over two decades. The Ocean Club appoints Emma Hernández as director of sales. W Algarve's new executive chef Andrea Ciuccio to manage multiple restaurants. Hotel Maverick’s Ernest Brown takes on director of food, beverage, and culinary role after 30+ years in

1 min

Sandpiper Hospitality Opens Two Extended-Stay Properties

📌 Sandpiper Hospitality opened two new hotels: ECHO Suites Extended Stay by Wyndham in Richmond, Virginia, and Extended Stay America Premier Suites in Bradenton, Florida, in late January. The Richmond hotel features full kitchens, Smart TVs, a fitness center, laundry facilities, and EV charging stations. The Bradenton hotel has 124 guestrooms with kitchens, WiFi, and breakfast. Sandpiper plans to add 15 new hotels in 2025 and currently manages 16 different brands.

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