LODGING Staff - 10 Minutes News for Hoteliers - Page 177

1 min

CoStar: U.S. Hotel Industry Performance Lowers From Previous Week

🏨 U.S. hotel industry performance for July 21-27, 2024: occupancy at 72.0% (↓0.4%), ADR at $164.45 (↑1.3%), RevPAR at $118.37 (↑0.9%). New Orleans leads with occupancy increase of 16.9% to 66.7%. San Diego tops ADR growth at 12.0% to $294.80. Nashville faces the sharpest RevPAR drop, plunging 24.2% to $128.78, affected by 2023 George Strait concert dates comparison.

2 min

Choice Hotels International Opens Four U.S. Cambria Hotels

🏡 Choice Hotels International, Inc. opened four Cambria Hotels in the United States, located in Niagara Falls, New York; Rehoboth, Delaware; North Conway, New Hampshire; and Denver, Colorado. The properties add to over 70 Cambria Hotels nationwide. The Denver location opened in May with 153 guestrooms; Niagara Falls in March with 120 guestrooms; North Conway on June 6 with 115 guestrooms; and Rehoboth in May with 106 guestrooms. The hotels feature amenities like restaurants, bars, and meeting spaces ranging from 960 to 6,400 square feet.

3 min

Lodging Econometrics: Dallas Continues to Lead U.S. Construction Pipeline

🏨 Dallas leads hotel construction pipelines as of Q2 2024 with 189 projects/22,392 rooms. Atlanta sets records too, with 159 projects/18,522 rooms. New York tops under-construction projects with 46 projects/7,572 rooms. The U.S. has 2,007 renovation and conversion projects, Atlanta leading with 33 projects/4,660 rooms. In Q2, 301 new project announcements were made, totaling 39,793 rooms. The first half of 2024 saw 250 new hotels/29,777 rooms opened in the U.S. LE forecasts 650 new hotels/74,228 rooms by year-end 2024, a 35% increase over 2023. New York City will add 23 new hotels/2,731 rooms by year-end. Dallas is projected to open 34 new hotels/3,644 rooms by year-end 2026.

1 min

Sonesta Executes 19 Franchise Agreements Across Six Brands

📌 Sonesta International Hotels Corporation executed 19 franchise agreements in the second quarter of 2024, spanning six brands. The agreements are part of Sonesta's expansion, offering franchisees a range of options from upper upscale to premium economy. New franchise hotels comprise 5 Sonesta Essential, 5 Americas Best Value Inn by Sonesta, 5 Knights Inn, 2 Sonesta Hotels & Resorts, 1 MOD Collection by Sonesta, and 1 Sonesta Simply Suites. Sonesta's flexible growth model and diverse market segmentation aim to attract new owners and travelers.

5 min

Marriott International Reports Q2 2024 Results

💰 Marriott International reported Q2 2024 results with worldwide RevPAR up 4.9%, U.S. and Canada RevPAR up 3.9%, and international markets up 7.4%, compared to Q2 2023. Diluted EPS was $2.69, net income $772 million, and adjusted EBITDA $1,324 million. Added approximately 15,500 net rooms, with a development pipeline of 3,500 properties and over 559,000 rooms. Repurchased 1 million shares for $1.0 billion and returned $2.8 billion to shareholders through July 29, targeting $4.3 billion for the full year.

2 min

AHLA Releases Statement on Senate Approved Hotel Fees Transparency Act

📌 Senate Committee on Commerce, Science, & Transportation approved the Hotel Fees Transparency Act (S. 2498) on July 31, which mandates transparent fee displays throughout the lodging industry. The House passed similar legislation, the No Hidden FEES Act (H.R. 6543), on June 11. Led by Sens. Amy Klobuchar (D-Minn.) and Jerry Moran (R-Kan.), AHLA supports these bills advocating for a single fee display standard. Only 6% of U.S. hotels charge mandatory fees, averaging $26 per night. The bill now moves to a full Senate vote.

1 min

The Newberry Hotel Opens Following a Conversion and Renovation

🏠 Resolute Road Hospitality opened The Newberry Hotel in downtown Bend, previously DoubleTree by Hilton, joining the Tapestry Collection by Hilton. Grand opening held on July 17, 2024, featuring live music, raffle prizes, and guided tours. Renovations include a new lobby, guestrooms, market, pool, fitness center, and The Franklin lounge and bar. Guests enjoy Hilton Honors Benefits.

3 min

Lodging Econometrics: U.S. Hotel Projects Reach All-Time High in Q2 2024

🏢 In Q2 2024, the U.S. hotel construction pipeline hit a record with 6,095 projects and 713,151 rooms, a 9% and 8% YOY increase respectively. Under construction are 1,171 projects/147,611 rooms, up by 10% and 4% YOY. Projects to start in the next 12 months stand at 2,350, a 5% YOY increase. Early planning stages see 2,574 projects/297,162 rooms, up 13% and 15% YOY. Extended-stay projects comprise 36% under construction. The upper midscale (2,262 projects/219,547 rooms) and upscale (1,417 projects/175,343 rooms) scales dominate, accounting for 60% of total projects. In 2024's first half, 250 hotels with 29,777 rooms opened, with expectations for 650 hotels/74,228 rooms by year-end, a 35% increase from 2023's 480 hotels/60,922 rooms. Forecast for 2025 is 779 hotels/87,405 rooms, and for 2026, 928 projects/101,796 rooms, a 1.8% supply increase.

1 min

HEI Hotels & Resorts Adds The Westin Dallas Downtown to Managed Portfolio

🏢 HEI Hotels & Resorts added The Westin Dallas Downtown to its portfolio, now managing five hotels in Dallas and 15 properties in Texas. Opened in 2015, The Westin features 326 rooms, 34,000 square feet of meeting space, a restaurant, bar, indoor pool, and fitness center. Located in Dallas CBD, it's near the Kay Bailey Hutchinson Convention Center and is part of One Main Place, a 33-story development. HEI's CEO, Anthony Rutledge, looks forward to enhancing the hotel's market position.

3 min

Marriott Hotels Brand Opens First All-Inclusive Property in Cancun, Mexico

🌞 Marriott Hotels opened its first all-inclusive property, Marriott Cancun, in Cancun, Mexico. The resort has 450 guestrooms, 124 ocean-view rooms, 38 suites, 13 dining options, and a 5,000-square-foot indoor/outdoor kids' club named CAMP Club by Marriott. It features a water park with slides and a lazy river, an adults-only area, and a fitness center. The resort provides nearly 24,813 square feet of event space, with four event rooms and 12 breakout rooms. New all-inclusive Marriott resorts are expected in Puerto Vallarta, Mexico, and Djerba, Tunisia in 2024 and 2025.

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