HOTREC, the voice of European hospitality, welcomes the proposal for a Regulation on short-term accommodation rentals (STR), presented today by the European Commission.
Panthers Group ink deal with Accor for Pullman Sydney Penrith
Accor has signed an agreement with Panthers Group for a new five-star Pullman hotel at the Penrith Panthers precinct in Western Sydney.
U.S. hotel results for week ending 29 October
U.S. hotel performance came in lower than the previous week but showed improved comparisons to 2019, according to STR‘s latest data through 29 October.
Six Senses Victoria Falls to offer wildlife lovers stilted eco-lodges on the Zambezi
The riverside game reserve and wellness resort are within Zimbabwe’s Victoria Falls National Park, a UNESCO Protected Area.
New Delhi hotels lead profitability recovery in Asia Pacific
Four key Asia Pacific hotel markets, led by New Delhi, surpassed their pre-pandemic levels in gross operating profit per available room (GOPPAR), according to STR‘s September 2022 P&L data release.
Radisson Hotel Group continues to strengthen its presence in Africa
Radisson Hotel Group plans to strengthen its already impressive presence in Africa. The Group has ambitious plans to reach 150 hotels and 25,000 rooms within the next five years across the continent, making Africa a key region for growth.
U.S. hotel profitability improved in September; labor costs exceed 2019
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).
