LODGING Staff

🏨 Marriott International opened its 600th property in the Asia Pacific excluding China with the Adelaide Marriott Hotel in South Australia. This is Marriott International's first property in South Australia, featuring 285 guestrooms and a 150-year-old landmark Adelaide General Post Office (GPO) façade. Since the first Marriott Hotel in the APEC region in Sydney in 1989, the brand has expanded to over 50 operating hotels, with close to 40 in the pipeline. Marriott's growth strategy also includes entering the midscale segment and focusing on community and economic impact, with 95,000 associates in the region and plans for nearly 10% to take new roles within APECs by the end of 2024.

🏡 Valencia Hotel Group announced the construction of Caravan Court, set to open in 2026 in Arlington, Texas. The eighth property in their collection, it will feature 145 rooms, 7 suites, and honor the 1960s era in design. Amenities include 5,000 square feet of meeting space, a restaurant, multiple bars, and proximity to the Sports and Entertainment District. The project is in partnership with Division Hotel Management and backed by the Arlington City Council, aiming to boost the local economy.

🏡 Kimpton Santo Hotel in San Antonio, Texas, set to open on August 29, 2024, as part of IHG Hotels & Resorts’ luxury collection, will feature 347 guestrooms, including 16 suites, a rooftop pool, and 13,000 square feet of event space with two ballrooms. The hotel is located at the intersection of the city's arts and business districts, merging a historic 19th-century schoolhouse with modern amenities. The property will also offer four food and beverage outlets, including Dean's Steak & Seafood housed in a restored historic building.

🏨 In July 2024, U.S. hotel industry's occupancy was 68.8% (a decrease of 0.5% from July 2023), ADR was $161.69 (an increase of 0.5%), and RevPAR stood flat at $111.18. Oahu Island led the Top 25 Markets with occupancy at 88.3% (up 4.5%), ADR at $310.46 (up 1.4%), and RevPAR at $274.13 (up 5.9%). The lowest occupancies were in Phoenix (56.9%) and New Orleans (58.9%). Top 25 Markets surpassed other markets in occupancy and ADR.

🏨 Global Construction Pipeline reached record 15,453 projects with 2,395,726 rooms, up 6% and 4% YOY respectively. Projects under construction hit 6,265 (up 2% YOY) with 1,115,989 rooms (up 1% YOY). In the next 12 months, 3,972 projects/545,764 rooms to start (up 8% YOY); early planning stages saw 5,216 projects/733,973 rooms (up 10% YOY). Upper midscale, upscale, and midscale make up 65% of pipeline; luxury up 13% YOY. Top countries: USA (6,095 projects/713,151 rooms), China (3,815 projects/699,786 rooms), India, Canada, and Saudi Arabia. Top cities: Dallas (189 projects/22,392 rooms), Atlanta (159 projects/18,522 rooms), Chengdu. In H1 2024, 948 hotels/135,579 rooms opened, with a forecast of 2,534 hotels/372,686 rooms in 2024, 2,756 hotels/429,120 rooms in 2025, and 2,812 hotels/430,355 rooms in 2026.