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Below are the latest press releases from STR. Please select a headline to read the full article. To see the complete archive of press releases, please click here.  For all other news on the hotel industry please go to www.HotelNewsNow.com.

 

Latest News

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    5 things to know: 15 November 2018

    From the desks of the Hotel News Now editorial staff:

    • UK leaders digesting new draft of Brexit agreement
    • Detroit casino hotel to sell for $1b
    • Hotel CEOs review performance of key markets, predict Q4
    • More than 50% of Gen Z looking to enter hospitality workforce
    • STR: US, Canada weekly numbers

    STR: Asia/Pacific hotel supply development update

    The Asia/Pacific region reported 373,109 rooms in construction through October 2018, a 28.7% year-over-year increase. China reported the most rooms in construction with 204,277, which equals 8.3% of its existing room supply.

    STR: Central/South America hotel pipeline update

    The Central/South America region reported 22,383 hotel rooms in construction in October 2018, a 13.6% year-over-year decrease. Brazil led the region with 8,379 rooms in construction, a 3.1% year-over-year increase.

    STR: Caribbean/Mexico hotel supply development update

    Mexico reported 14,921 rooms in construction through October 2018, which equals 3.7% of its existing supply. The entire Caribbean/Mexico region reported a 46.9% year-over-year increase in the number of rooms in construction to 26,370.

    STR, TE lower 2018 hotel growth projections

    STR and Tourism Economics revised their 2018 and 2019 U.S. RevPAR growth projections to 3% and 2.4%, respectively, as demand in the third quarter was lower than expected.

    Hotels losing out on P&L due to diversity bias

    The gender diversity gap is pretty significant higher up the hotel industry’s corporate ladder, and with employment at record highs and women comprising the majority of employees and discretionary spend, hoteliers say there are no economic reasons to maintain the status quo.

    Hotel CEOs review, predict performance of key markets

    During third-quarter earnings calls, CEOs from public hotel companies spoke about the different markets within their portfolios, examining how they performed amid disruptors, such as employee strikes and hurricane impact, and predicting how they will fare in future quarters.

    Reinvent group meetings with experiences

    Knowing that experiences are important to guests of all segments, your meetings and groups business can no longer solely rely on price, locations and essential services as the driving forces for sales—it’s time to reinvent the wheel.

    A roundup of US hires, promotions

    In this roundup: Hotel Equities names new chief development officer; new GMs in Indianapolis and Sacramento, California; and more.

    5 things to know: 14 November 2018

    From the desks of the Hotel News Now editorial staff:

    • PwC anticipates slight uptick in 2019 supply growth
    • Hotel websites among those failing ADA compliance
    • Europe investors bullish on hotel asset class
    • San Diego hotel workers end 35-day strike, reach new contract
    • Braemar agrees to buy Ritz-Carlton Lake Tahoe for $103.4m

    STR: US hotel supply development update

    In October 2018, New York City reported 14,295 hotel rooms in construction, which accounts for 11.7% of its existing supply. Overall, the U.S. reported 194,591 rooms in construction, a 6.2% year-over-year increase.

    Europe hotel investors accept more risk for same return

    While the current level of risk in buying hotels might indicate a downturn is around the corner, investors say those risks don’t outweigh the rewards. In fact, the current economic environment is perfect for better underwriting, analysis and monitoring consumer travel trends.

    Marketing sustainability a must in the Mediterranean

    The Mediterranean requires hotels and resorts to include sustainability at every step of a property’s development and operations, but this provides ample ability to better market unique selling propositions and even increase rates.