Market Trends

🏠 Choice Hotels International broke ground on three Everhome Suites in San Antonio, Texas; Bowling Green, Ky.; and Wichita, Kan., in partnership with Highside Companies, which has 25 Everhome Suites in its pipeline. The brand currently has four open, 65 planned, and over 20 under construction, aiming to open over 15 in the next 12 months. Everhome Suites Bowling Green, with 115 rooms, will open in November 2025. The equally sized San Antonio suite will also open in November 2025. Meanwhile, the 123-room Wichita suite is set for a fall 2025 opening.

🏖️ IHG Hotels & Resorts is expanding with a Six Senses resort in Telluride, Colo., slated to open in 2028, featuring 77 rooms, 24 residences, and amenities like ski concierge and a spa. Playa Hotels & Resorts will sell the Jewel Palm Beach in Punta Cana for $68 million, expecting the deal to close by Q3. IHG will also open Hotel Indigo Cabal Akhdar Resort & Spa in Oman on September 1 with 173 accommodations. Marriott's Moxy Hotels debuts in Mumbai's Andheri West with a 105-room hotel.

🏨 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.

🏨 In the August 26, 2024 episode of the Hospitality Daily Podcast, Staypineapple Hotels leaders Dina Belon (President), Mike Hirschler (Chief Growth Officer), and Casey Barks (Vice President of Marketing) discuss their career journeys. Belon highlights the role of her design background in leadership, the brand's "elegant whimsy" aesthetic, and her philosophy of kindness with efficiency. Hirschler reflects on his early passion for hospitality, career challenges during COVID, and the importance of cultural fit. Barks offers insights into the contrasts between city and resort hotels, PR during the pandemic, and Staypineapple's brand personality. The episode explores the PATH water bottle initiative and Belon's decision-making process.

🏡 Mirzoyan Studio renovated a two-bedroom Stalinka apartment in Kyiv, Ukraine, transforming it into a rental property with reflective surfaces and built-in oak furniture. The historical building's structural integrity influenced the careful planning and preservation of its character. The main living space now combines the living room and kitchen, separated by a wooden shelving unit, with stainless steel kitchen finishes. Mirrored closets and broken marble from a local supplier enhance the entryway and bathroom. Despite war-related construction delays and budget cuts, the project emphasized durable design and local materials.

💸 Accor established the Global Leadership Council (GLC) with 17 corporate travel managers on August 26, 2024, to reshape business travel post-pandemic. The GLC, uniting finance, engineering, and technology sectors, represents over 2.7 million business travelers. Priorities set: enhancing traveler experience and well-being using technology, optimizing travel costs, and promoting sustainability and inclusive practices.

🏨 Booking.com's 2024 survey reveals hotels as top accommodation for European travelers, with Spaniards most likely to stay in hotels. French less inclined, with less than half favoring hotels, preferring family stays or apartments. Italians opt for bed & breakfasts as a second choice. Full details on Statista, dated August 26, 2024.

🏨 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.

🏨 U.S. hotel industry reports mixed year-over-year data as of August 17, 2024. Nationwide, occupancy slightly decreased by 0.2% to 66.9%, whereas average daily rate (ADR) rose by 1.0% to $156.35, and revenue per available room (RevPAR) increased by 0.9% to $104.54. Houston led with the highest increases: occupancy up 34.3% to 75.3%, ADR up 14.5% to $121.89, and RevPAR up 53.8% to $91.73. In contrast, San Francisco and Atlanta faced the steepest RevPAR declines of 13.8% and 11.3%, reaching $143.39 and $69.43, respectively.

🏠 YSG Studio renovated a seaside home in Byron Bay, Australia, with retro 1970s-inspired interiors. YSG director Yasmine Saleh Ghoniem designed period details like a sunken lounge, chrome additions, and a geometric patterned floor titled Checkmate. The kitchen was doubled in size, featuring a wooden screen and circular island. Vintage Italian dining chairs were reupholstered in chartreuse velvet, and terracotta pavers were laid in a grid pattern in living areas. Custom and vintage furniture pieces, including a Cassina Soriana chair, adorn the home.