U.S. hotel gross operating profit per available room (GOPPAR) improved from the month prior and exceeded the pre-pandemic comparable, according to STR‘s September 2022 P&L data release. Additionally, the cost of labor per available room came in higher than the pre-pandemic comparable for the first time.
Three franchise companies account for 66% of the projects in the U.S. construction pipeline
According to the quarterly United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines at the end of Q3 2022 are led by Marriott International with 1,385 projects/168,725 rooms. Following Marriott is Hilton Worldwide with 1,351 projects/152,383 rooms and InterContinental Hotels Group (IHG) with 787 projects/79,382 rooms. Combined, these three companies account for 66% of the projects and 64% of the rooms in the total pipeline. Each company has seen growth year-over-year.
Canada hotel performance surpassed pre-pandemic levels in September
Canada’s hotel performance was seasonally lower from the month prior but higher than the pre-pandemic comparable, according to STR‘s September 2022 data.
The U.S. hotel construction pipeline shows positive growth year-over-year at Q3 2022 close
According to the third quarter Construction Pipeline Trend Report for the United States from Lodging Econometrics (LE), the U.S. construction pipeline stands at 5,317 projects/629,489 rooms, up 10% by projects and 6% rooms Year-Over-Year (YOY).
Europeans embrace Intra-European travel in spite of growing cost-of-living concerns
40% of Europeans are worried about increasing travel costs in light of the ongoing cost-of-living crisis. Nonetheless, the appetite for travel among Europeans is growing with 70% planning a trip in the next six months. This represents a 4% increase in just one year. Over half (52%) intend to travel at least twice evidencing pent-up demand for vacationing.
IHG Hotels & Resorts heralds new wave of hotel signings and openings across Turkey
IHG Hotels & Resorts, one of the world’s leading hospitality companies, is delighted to announce a raft of recent signings and openings in Turkey across its Crowne Plaza, Holiday Inn and Holiday Inn Express brands.
U.S. hotel results for week ending 22 October
U.S. hotel performance decreased slightly from the previous week but showed improved comparisons with 2019, according to STR‘s latest data through 22 October.
IHG Hotels & Resorts signs first Americas Vignette Collection Hotel in Mexico’s Yucatan Peninsula
El Gran Encomendero will welcome the next generation of luxury travelers with a distinctive and elegant guest experience
World Travel Tech awards names Unifocus world’s best workforce management solutions provider
Hospitality’s leading workforce solutions provider earns the highest number of votes for innovating the latest in end-to-end workforce management technology.
Global Asset Solutions launches Hotel Asset Management training course
Global Asset Solutions has launched an online training course with external accreditation which will support the growing demand for hotel asset management.
