According to the Q4 2022 Construction Pipeline Trend Report for the Asia Pacific region, excluding China, from Lodging Econometrics (LE), the region’s total construction pipeline stands at 1,903 projects/404,222 rooms, up 5% by projects and 2% by rooms year-over-year (YOY).
U.S. hotel revenues, profits and labor costs reached record-highs in 2022
Total U.S. hotel revenues, profits and labor costs reached an all-time high, according to STR‘s P&L data for 2022. With more supply in the market, the key profitability metrics each came in lower than their pre-pandemic comparable on a per-available-room basis.
Upscale projects in China’s hotel construction pipeline reach new all-time high
In the recently released China Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that the country’s total hotel construction pipeline, at the close of the fourth quarter, stands at 3,581 projects/675,074 rooms.
Zanzibar set for first tourism investment summit
Zanzibar tourism stakeholders are all set for the first tourism investment summit to take place on the island later this month, targeting to connect tourism investors from East Africa, Africa, and other tourist market sources in the world.
Bountiful Easter at Baros Maldives
Baros Maldives is a tropical paradise set amidst the turquoise waters of the Maldives. With naturally spellbinding backdrops paired with cocooning intimacy, it is a place that delivers unadulterated luxury. Exuding warmth and welcoming connections, Baros invites everyone to a blooming haven for springtime.
The Slate Phuket says BONG APPETIT to cannabis-infused dining
With Thailand having decriminalized marijuana, The Slate Phuket is inviting guests to say BONG Appetit to a special dining experience by Steven John of Empty Plates Bangkok. Chef John has incorporated cannabis leaves, flower, stems and seeds into an innovative menu that will not only bring the flavours of the plant to the fore, but provide health benefits due to being rich in anti-oxidants, and anti-inflammatory compounds. This special dining experience will be offered at the hotel’s sexy Rivet & Rebar on 10 and 11 March 2023, with only 40 tickets for each exclusive event.
Tourists travelling back to North Africa’s biggest cities says WTTC
The World Travel & Tourism Council (WTTC) has today revealed positive signs of recovery for the Travel & Tourism sector in key North African city destinations, providing a massive boost to economies across the region.
CapitaLand Ascott Trust’s gross profit up 80% in 2H 2022, boosted by 81% growth in REVPAU
CapitaLand Ascott Trust (CLAS) achieved an 80% increase in gross profit for 2H 2022 to S$164.6 million compared to 2H 2021. This was mainly attributed to higher revenue from CLAS’ existing portfolio and contributions from its expanded portfolio of longer-stay assets, comprising student accommodation and rental housing properties in the United States of America (USA) and Japan, newly acquired serviced residences in Australia, France and Vietnam, as well as from lyf one-north Singapore which soft opened in 4Q 2021. On a same-store basis, gross profit for 2H 2022 increased by 67% compared to 2H 2021.
American post-COVID travelers booking fun destinations
Few sectors were as heavily impacted by the COVID-19 pandemic as tourism was. Confinement and restrictions were huge blows to operators and are still behind many of the challenges that firms face today.
U.S. hotel results for week ending 28 January
U.S. hotel performance increased from the previous week, according to STR‘s latest data through 28 January.
