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The Ascott Limited’s co-living brand lyf is eyeing its third location in Australia, with a new property in Sydney expected to be announced soon. Earlier this week, Ascott Australia Managing Director, David Mansfield, welcomed over 100 guests to discover the brand at an event at lyf Collingwood Melbourne.
In the hotel’s first week, even without a heavy marketing campaign, occupancy was circa 60% with one night over the weekend hitting 80% occupancy due to compression on the CBD, thanks to the hotel’s close proximity, Hunt shared. Elsewhere in the Australia Pacific region, Marriott is experiencing strong growth. “I
Boutique hotels continue to report solid occupancies and healthy ADRs, and collectively achieved increases in all performance indicators through June, according to the Boutique Hotels: Mid-Year 2023 report from The Highland Group. The strongest RevPAR increases were in the LS upscale-upper midscale and soft brand (SB) upper-upscale class.
In the latest United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that construction pipeline projects in the U.S. At the close of the first quarter, projects currently under construction stand at 1,051 projects/140,365 rooms, each showing 9% growth YOY. construction pipeline at Q1.
The 2024 Summit is the start of some exciting things to come for our AHICE brand in Fiji and we are already looking at venues to host the conference over the coming five years,” said Wilkinson. Register for the 2024 event now. The post Speakers revealed for inaugural AHICE Fiji Islands summit appeared first on Hotel Management.
The Ascott Limited is set to open two new properties in Sydney’s CBD and Melbourne’s outer north suburb of Epping under the lyf and Oakwood brands respectively. Serviced apartment brand Oakwood will launch its third Australian property in Epping with a 94-key mixed-use development at the corner of Fullarton Drive and Cooper St.
With a little creativity and lots of data and insights, low occupancy periods can be more efficiently managed Low occupancy is largely driven by seasonality with off-peak times being marked by fewer bookings and even lower forward bookings. To conclude Optimising revenue during low occupancy doesn’t have to be difficult.
A Certificate of Occupancy (CO) is a vital requirement before opening your new-build/renovated hotel. Because of the necessity of this certification, you’ll want to work it into your construction plans from the very beginning to avoid any project delays. Without it, you’re subject to massive, compounding fines! Talk to an expert.
Veriu Group CEO, Zed Sanjana, and developer Tim Gurner are celebrating a successful first six months of Veriu Collingwood, with the apartment hotel garnering strong occupancy and room rates since opening. But in terms of the cost of construction, it doesn’t help to solve that at all. More and more so.
will receive the exclusive rights to develop new vacation ownership clubs and products under the Accor Vacation Club brand across Asia Pacific, Middle East, Africa and Turkey, and Accor will receive a percentage of vacation ownership sales revenue as a licensing fee. Travel and Leisure Co.’s Under the deal, Travel and Leisure Co.
“The current supply of new hotel accommodation is being hampered by rising construction costs, particularly for luxury venues in regional locations. These are distinct assets positioned in unrepeatable ocean view settings and boast a reputation of consistently achieving high occupancy levels.”
occupancy points to 70.7% occupancy points, and the Cairns Area showing the strongest YTD growth up 7.0 occupancy points as a result of increased leisure demand and group business. occupancy points, and the Cairns Area showing the strongest YTD growth up 7.0 occupancy pts, Gold Coast up 3.8
A strong hotel brand is the cornerstone of enduring success. In fact, a strong brand can increase revenue by up to 23%. Investing in hotel branding is a strategic decision that can yield substantial returns. A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and market share.
According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) , analysts report that at the close of the first quarter, the country’s hotel construction pipeline stands at 1,776 projects/266,901 rooms. The top countries in the Europe construction pipeline by project count are led by the U.K.
The Veriu Group is making its mark in Australia’s apartment hotel landscape with over 3,000 rooms operating across 21 sites and a further 17 sites in development across both the Veriu Hotels and Suites and Punthill Apartment Hotels brands.
Hotel occupancy, which is at a market average of 70%, is up 15% year-on-year, but remains down (-9%) on pre-pandemic levels. Rotorua’s hotel occupancy rate showed the most improvement, up 39% compared to 2022, slightly ahead of Queenstown, which was up 38%, and higher again than Auckland, which has had a 33% lift.
Hybrid spaces that can host large conferences and provide exceptional leisure experiences are on the rise, allowing owners to maximize occupancy and rates throughout the week. Our development strategy has always been to sign the right hotel, with the right brand, in the right location, at the right time.
According to the Q1 2023 Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE) , the hotel construction pipeline in the region increased to 581 projects/147,356 rooms, up 8% by projects and 6% by rooms year-over-year (YOY). These trends continue to show developer enthusiasm in the region.
The fact is, there is no reason why an economy or mid-priced brand cannot make their customers feel respected, connected and valued – these are not qualities exclusive to luxury, rather, it is the essence of delivering a great hospitality experience. Tribe is another fast-growing brand in the midscale segment.
JRK Property Holdings , through its $350-million hospitality fund, has acquired a two-property, 275-key Hyatt-branded hotel portfolio in San Juan, Puerto Rico, from the PRISA Group for an undisclosed price. with consistently strong occupancy and a healthy growth trajectory,” said Bhatia.
The Le Méridien brand is back Down Under, marking its return with the opening of Le Méridien Melbourne in March. General Manager Peter Minatsis discusses the latest iteration of the brand and what makes this particular hotel special. It’s all about coffee, culture and art and that’s exactly what the brand is.
On the back of over 90% hotel occupancy and $8.3 In the next Q&A with James Wilkinson, Jeff Wagoner from Outrigger Hospitality Group was still keen to get back into the Australian market after their 2016 acquisition of the famous Hawaiian beach brand. Some of the big brands don’t care about owner returns, just planting flags.”
Oaks Wellington Hotel is one of our full-service hotels and I was fortunate to manage the building during the construction and launch phase in September 2019. Under the Avani brand, we have upscale Serviced Apartment accommodation in Auckland, Avani Auckland Metropolis Residences, located in the iconic Metropolis building.
compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 12.2% compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 16.7% for the fourth quarter and $4.33 For the year ended Dec.
. “System-wide comparable RevPAR continued to expand throughout the quarter, experiencing growth across all of our customer segments and regions, driven by strong preference for our brands,” said Chris Nassetta, president/CEO, Hilton. In May, Hilton launched a new brand in the U.S. billion and $2.6 billion and $2.6
Increased interest from hotel owners in our brands has propelled our development pipeline to a record 243,000 rooms, marking an impressive 8% increase. the company lapped the most difficult YOY comparisons during the first quarter, resulting in a decline of 440 basis points in occupancy and 50 basis points in ADR. In the U.S.,
. “All segments drove RevPAR outperformance, with strong trends in leisure occupancy, as well as continued growth in business transient and group results, and we expect favorable trends to continue into 2025. compared to the same period in 2023 due to increases in both occupancy and ADR. 31, 2023 Diluted EPS was $2.06
Pohl went on to say that mid-scale, extended stay brand “Home” has proven popular with Americans and that the emerging Gen Z market was pushing new development in brands like Aiden (part of BWH). As a ‘challenger’ state, PR is important to our brand strategy, but it needs to have a holistic approach.” Stay tuned.”
The effect on urban hotel demand cannot be understated as historically there has been a 90% correlation between inbound foreign arrivals and urban hotel occupancy, with the greatest impact in gateway markets such as London, New York and Tokyo. billion investment into Rocco Forte hotels.
The five-year, non-recourse financing takes out the original construction loan on the hotel, a boutique lifestyle brand of Hyatt Hotels, which opened in August 2021. The Thompson Savannah has continued to generate impressive growth in the key hospitality metrics, including occupancy, RevPAR, and ADR over the past two years.”
UK: The “compact luxury” brand Z Hotels has secured a £15 million loan from OakNorth Bank to refinance an existing loan and construct new rooms at its Piccadilly property. The additional 20 rooms at Z Piccadilly will increase the hotel’s total room count to 132.
Speaking about the drivers behind this performance, Thomas Magnuson, CEO, Magnuson Hotels, said that this is a direct result of the company’s unique OTA-alternative distribution strategy designed for enhancing occupancy levels as well as its Fair Franchising policies that ensure owners retain a higher percentage of revenue.
The Radisson Hotel & Suites Niagara Falls is set for a major renovation and will be re-launched under IHGs voco brand. Overall occupancy levels remained flat, increasing by just 0.1 Currently, 10,000 rooms are under construction across the country, with 60 per cent of those expected to open within the year, adding approximately 1.3
We also continue to leverage our industry-leading portfolio of brands to drive further growth of our global network. compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 12.3% Highlights include: Diluted EPS was $1.44 billion and $2.6 billion and $2.6
Our economy brands gained market share domestically amidst a backdrop of normalizing U.S. leisure demand, and international occupancy continued to recover. economy brands gained market share of 100 basis points in the third quarter. 30, the total number of contracts awarded for the brand was 265 (nearly 33,000 rooms).
Judi Blakeburn , brand director, Another Place , Watergate Bay and Beach Retreats [FC] With a career spent in hospitality marketing, Blakeburn is an expert on both the sector and the role of marketing in medium-sized businesses, and is a passionate advocate of the importance of brand and marketing at board level.
percent for the full year, excluding the planned acquisition of the Graduate Hotels brand.” Additionally, of the rooms in the development pipeline, 229,700 were under construction and 267,900 were located outside of the U.S. compared to the same period in 2023. .” compared to the same period in 2023. .”
Despite the company policy, as set by Marimekko’s founder, to use ‘anything but flowers’ , by having the creative confidence to challenge those boundaries Isola more or less single-handedly gave the brand the colourful aesthetic it is still known for today. And like Isola, they have not always followed the rules.
Awarded 35 new-construction projects for ECHO Suites Extended Stay by Wyndham, bringing the total number to 205 since launch in March 2022. Approximately two-thirds of this increase is driven by stronger pricing power, while the remainder is driven by higher occupancy levels. and 9% of growth internationally.
Whether you are adhering to brand standards or enjoying the freedom of independence, the impact of your one-time decision-making here is amplified by how your customers share their travel experience via reviews and on social media, again and again. What are the legal, brand, or other requirements?
Development pipeline grew 12% year-over-year, including 170 new construction projects added for the company’s ECHO Suites Extended Stay by Wyndham brand since launch in March. Approximately 60% of the company’s development pipeline is international and over 80% is new construction, of which approximately 36% has broken ground.
Seeking support with branding, marketing, HR or other specific divisions. New construction design. The direct outcomes of engaging a hotel consulting firm vary based on the assignment, however most outcomes also affect business growth, revenue, and occupancy. Re-designing facilities such as public spaces. Asset management.
“Working alongside NYU SPS has helped us better understand where the hospitality industry is experiencing friction,” said Umar Riaz, EY Americas real estate, hospitality & construction consulting leader/EY Americas hospitality sector leader. The top three factors driving RevPAR performance in 2023 are: 1. Leisure travel 2. Group travel 3.
You can offer select inventory at discounted rates to price-conscious shoppers, maximising occupancy during slower periods. This unique approach allows hotels to offer rooms at discounted rates to bargain-hunting travellers, while still protecting rate parity and brand identity. Brand reputation remains intact.
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