Hotel Business

AUGUST 1, 2023

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.

Occupancy 98

Occupancy Construction Services Hotels 98

Hospitality Net

MARCH 4, 2024

RevPAR was lifted by a healthy ADR increase, which was partially offset by an occupancy decline. Fortunately, supply increases have remained modest and are expected to remain low for the rest of the year as the pace of rooms in construction has slowed. Demand across the U.S. has declined year over year for the past 10 months.

Occupancy 228

Occupancy Construction Hotels Travel 228

Hotel Business

MAY 23, 2023

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.

Construction 59

Construction Pipeline Forecasting Closing 59

Hotel Business

MAY 24, 2023

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.

Construction 52

Construction Pipeline Closing Branding 52

Hospitality Net

JULY 12, 2024

A midyear snapshot of performance in the top 65 markets in the US indicates that on a trailing 12-month basis through May, RevPAR is up slightly year over year (due to slight increases in both occupancy and ADR) and this is largely driven by increases in the top three chain scales: luxury, upscale and upper upscale.

Market 100

Market Marketing Construction Scale 100

Hospitality Net

JULY 11, 2024

A midyear snapshot of performance in the top 65 markets in the US indicates that on a trailing 12-month basis through May, RevPAR is up slightly year over year (due to slight increases in both occupancy and ADR) and this is largely driven by increases in the top three chain scales: luxury, upscale and upper upscale.

Market 100

Market Marketing Construction Hospitality 100

Hotel Management

SEPTEMBER 5, 2024

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

Occupancy 130

Occupancy Tourism Travel Events 130

Hotel Management

OCTOBER 7, 2024

“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.”

Hotels 162

Hotels Construction Occupancy Accommodation 162

Hotel Management

JULY 18, 2024

With the addition of a new convention centre two years ago and a new, 30,000-seat indoor stadium under construction and scheduled to open in April 2026, Christchurch is anticipating an influx of visitors for larger sporting events and concerts. “We

Real Estate 130

Real Estate Motels Construction Occupancy 130

Hotel Management

OCTOBER 3, 2023

Market challenges Upward pressure on construction costs There’s no doubting the last few years have been challenging ones for the property sector, which has experienced significant increases in the price of commercial construction since the pandemic.

Scale 130

Scale Construction Average Daily Rate Hotels 130

Hotel Management

MARCH 14, 2024

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.

Occupancy 130

Occupancy Events Hotels Tourism 130

Hotel Management

OCTOBER 3, 2024

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. Owners are responding to the growing need for properties that cater to both business and leisure travellers to accommodate the popular “Bleisure” trend.

Events 130

Events Construction Occupancy Accommodation 130

Hotel Management

JUNE 11, 2024

Crowne Plaza Fiji Nadi Bay will host an AHICE networking event and site tour Wilkinson pointed to Fiji’s tourism boom and growth in average daily rates and occupancy levels at hotels across the country, which have been on the rise since the end of 2021 as Australians, Kiwis and Americans head to the island nation in record numbers.

Average Daily Rate 260

Average Daily Rate Tourism Events Resorts 260

Hotel Management

JUNE 15, 2023

Following this wave of additions, higher debt cost and construction costs are anticipated to suppress the development pipeline, with activity being largely limited to key strategic sites usually having mixed use appeal. Melbourne is the primary recipient of new room supply (35% of total).

Hotel Marketing 276

Hotel Marketing Average Daily Rate Market Marketing 276

Hotel Management

OCTOBER 1, 2024

The Auckland market will need more than just the NZICC to see occupancy rates recover to near previous levels particularly considering the supply currently under construction. Hotels that are able to capitalise on the additional demand and spillover effects during large events will benefit most from this.

Hotel Marketing 130

Hotel Marketing Market Marketing Events 130

Hotel Management

MARCH 30, 2023

Almost a year on from the opening of its first Australian property in Melbourne’s trendy inner-city suburb of Collingwood, and with another under construction in Bondi Junction, the brand is exploring further opportunities for growth – in dynamic metropolitan neighbourhoods.

Construction 246

Construction Branding Occupancy Business 246

Hotel Business

NOVEMBER 7, 2024

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.”

Construction 59

Construction Occupancy Services Hospitality 59

Hotel Business

JANUARY 12, 2024

with consistently strong occupancy and a healthy growth trajectory,” said Bhatia. Daniel Lippman, JRK president, added, “The Puerto Rico hotels deliver tremendous going-in cash flow to our investors on new institutional quality construction while offering several levers for additional value creation.

Occupancy 111

Occupancy Hotels Construction Dining 111

Hospitality Tech

JUNE 5, 2023

Survey Finds While Occupancy Rates, ADRs, and Revenues Are Up, New Construction is Down to 2015 Levels.

Construction 52

Construction Occupancy Hospitality Revenue 52

Hotel Management

JUNE 18, 2024

What we have found over the time is that our business has been pretty stable through good and bad times – our occupancies don’t really fluctuate, our sales velocity has been quite consistent,” Robinson said. “It’s What’s affecting our growth is the cost of construction and the price of flying interstate.

Business 264

Business Real Estate Sales Travel 264

Hotel Business

FEBRUARY 15, 2024

The company forecasts a 3% increase in RevPAR growth in 2024, with occupancy improving by 45 basis-point (bps) and ADR increasing by 2.3%. percentage point increase in occupancy. This projected growth indicates the continued recovery of the lodging industry, with RevPAR in 2024 expected to be 13.2% higher than 2019 levels.

Forecasting 105

Forecasting Occupancy Construction Business 105

Hotel Business

FEBRUARY 10, 2023

4 (percentage change from comparable week in 2019*): Occupancy: 55.3% (-7.3%) ADR: $145.35 (+13.9%) RevPAR: $80.45 (+5.6%) While none of the top 25 markets saw an occupancy increase over 2019, Las Vegas came closest to its 2019 comparable (-1.4% 29 through Feb. The market also reported the highest ADR (+79.5% to $69.47).

Occupancy 59

Occupancy Construction Hotels Market 59

Hotel Management

DECEMBER 20, 2023

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.

Construction 267

Construction Shopping Pipeline Occupancy 267

Hotel News Resource

MARCH 4, 2024

RevPAR was lifted by a healthy ADR increase, which was partially offset by an occupancy decline. Fortunately, supply increases have remained modest and are expected to remain low for the rest of the year as the pace of rooms in construction has slowed. Demand across the U.S. has declined year over year for the past 10 months.

Construction 45

Construction Occupancy Hotels 45

Hotel Business

MAY 17, 2024

increase in occupancy. ” CBRE expects muted supply growth in the medium term due to elevated financing and construction costs. The company remains optimistic that RevPAR will achieve a nominal record of $101.20 this year, representing 115% of pre-pandemic levels in 2019. This outlook is based on projected ADR growth of 1.7%

Forecasting 111

Forecasting Construction Occupancy Consumer 111

Hotel News Resource

MARCH 8, 2024

Since 2020, WichitaÕs hotel market has experienced a rebound in occupancy and average rate, supported by strong levels of leisure and commercial travel.

Hotel Marketing 40

Hotel Marketing Market Marketing Construction 40

Hotel Business

AUGUST 15, 2024

and a 10-basis point increase in occupancy. CBRE forecasts compound annual growth in supply of under 1% over the next three years, as elevated financing and construction costs temper construction activity. The company remains optimistic that RevPAR will achieve a nominal record of $100.54 this year, representing 114.5%

Forecasting 59

Forecasting Construction Events Occupancy 59

Hotel Business

NOVEMBER 22, 2022

While occupancy through Q3 was 3.8 PwC now expects annual occupancy for U.S. Since the May 2022 outlook, the Fed’s monetary policy has resulted in significantly higher interest rates than previously expected over the period covered, resulting in an estimated steep slowing of construction starts for new hotels next year.

Occupancy 103

Occupancy Construction Travel Hospitality 103

Hotel Management

APRIL 6, 2023

A year on from opening in April 2022, boutique Queenstown hotel The Carlin is celebrating increasing occupancy amid a strengthening luxury tourism market locally.

Dining 130

Dining Hotels Construction Occupancy 130

Hotel Management

MAY 1, 2023

The 160-key lyf property, on Sussex Street in Sydney, is the third Australian property for the co-living brand and follows the opening of lyf Collingwood in May 2022, with a Bondi Junction property, currently under construction, due to open next year. Ascott is aiming for a mid-2025 opening.

Retail 246

Retail Accommodation Branding Market Share 246

Hotel Management

OCTOBER 9, 2023

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. This will mean both front blocks will be in operation with unobstructed views, with all construction works occurring behind them.

Events 130

Events Construction Accommodation Tourism 130

Hotel Business

JUNE 12, 2023

The resulting white paper, titled “Hotel Borrowing Costs are Rising—But So Are Occupancy Rates,” projects positive outcomes based upon rising demand that will bolster key industry metrics, such as occupancy rates, ADR and RevPAR, while new construction is down to 2015 levels. “We

Occupancy 52

Occupancy Construction Revenue Hospitality 52

Hotel Management

MAY 2, 2023

New data from STR shows that the city had its best month on record for hotel occupancy in March with an average of 8,376 room nights occupied each night of the month, creating an all-time high of more than $60 million in revenue. billion – including the Marriott GPO Hotel, Oval Hotel, Eos by SkyCity, Hotel Indigo, Sofitel Adelaide and more.

Hospitality 130

Hospitality Events Real Estate Pipeline 130

Hotel Speak

OCTOBER 3, 2024

Recovery: A Mixed Bag STR’s latest data highlighted the UK’s global leadership in hotel occupancy, boasting a robust 77%. While occupancy remains impressive, it’s ADR (Average Daily Rate) that’s driving the real growth story here. Robert Shrimsley, Financial Times 2.

Hospitality 117

Hospitality Average Daily Rate Occupancy Intent 117

Boutique Hotel News

JUNE 28, 2023

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.

Occupancy 52

Occupancy Hotels Construction Consumer 52

Hotel Business

JANUARY 24, 2024

Hotel Business spoke with renovation and repositioning specialist Tallal Bhutta, a leading authority on executing hotel conversions, and founder/CEO of BDB Construction Enterprise, who discussed the benefits of hotel conversions. Where should hoteliers begin? Why should hoteliers look to conversions? How should hoteliers manage those?

Construction 59

Construction Hotels Shopping Occupancy 59

Hotel Management

SEPTEMBER 7, 2023

There were a lot of passionate people who wanted the property to remain as the Palace Theatre and the construction timeline was drawn out because of that. We were happy to get a couple of operational weeks under our belt before we hit 100% occupancy over Formula One, and we had some pretty high rates as well.

General Manager 147

General Manager Branding Construction Occupancy 147