Finance Reports - Hospitality Net

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August 16, 2008

Beijing Hotel Market’s Strong Olympic Performance

The Beijing hotel market has put in a strong performance for the opening days of the 2008 Beijing Games, seeing off a pre-Olympics lull according to data compiled by STR Global. During the early days of August, the market was recording average room rates of about RMB 1,500 and occupancy levels below 60 percent. However, as expected, market performance began to recover from 6 August, and recorded a dramatic improvement on the day prior to the Opening Ceremony (7 August) and largely held this performance level of the opening weekend and into the first week of the Games.

August 16, 2008

HVS EMEA Hospitality Enews - Week Ending 15 August 2008

Quinlan Private reached a verdict on its choice of partner a few months ago, apparently, but only now has Quinlan publicly pronounced sentence. And that sentence is: “Quinlan Private is pleased to confirm that the Oman Investment Fund…has acquired a 50% partnership interest in Jurys Inns”. One report suggests that Oman Investment Fund, which is wholly owned by the government of the sultanate of Oman, paid €200 million for the partnership. Jurys Inns, the chain of three-star hotels, is in expansive mood, having journeyed from its traditional haunts – the Republic of Ireland and the UK – for adventures in continental Europe. Jurys Inn hotels are set to open in Prague and Budapest in 2010. Quinlan Private, the private equity and real estate group, bought Jurys Inns from JDH Acquisitions last summer in a deal worth around €1.1 billion.

August 14, 2008

STR reports U.S. hotel performance for the week ending 09 August 2008

The U.S. hotel industry posted declines in the key performance metrics of occupancy and revenue per available room during the week of 03 – 09 August, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.0 percent to end the week at 71.2 percent. Average daily rate increased 2.3 percent to finish the week at US$107.55. Revenue per available room for the week decreased 1.8 percent to finish at US$76.59. “The initial August industry numbers show continued softness,” said Bobby Bowers, senior VP of operations at STR. “More than two-thirds of the top 25 STR U.S. markets had occupancy declines last week.”

August 12, 2008

UK hoteliers continue to hold own | PKF June 2008 Monthly Trends Report

UK hoteliers had another steady month in June with most reporting increased rooms yields, according to preliminary monthly figures released today by PKF Hotel Consultancy Services. In London, room rate was the main driver rising from £148.14 to £158.51 – an increase of 7.0% between 2007 and 2008. Occupancy dipped by 2.6% in the capital, but this is most likely due to the beginning of the holiday season affecting business travel. Overall, rooms yield rose a healthy 4.3% in London.

August 11, 2008

Global Hotel Performance Remains In Positive Territory Despite Economic Uncertainities | Deloitte Study

The global hotel market got off to a good start in 2008, driven by strong average room rate growth. Analysis by Deloitte Touche Tohmatsu shows that for the first six months of the year, North America was the only region not to record double-digit revenue per available room (revPAR) growth (in US$).

August 11, 2008

Double-digit revPAR growth for Asia Pacific hoteliers | Deloitte Reports

Hotels in Asia Pacific continued their good fortune during the first six months of 2008, with revenue per available room (revPAR) up 13.2%, outperforming the 12% growth achieved in 2007. Analysis by Deloitte, the business advisory firm, shows that revPAR broke the US$100 milestone to reach US$103. Improvements were driven by double-digit increases in average room rates, which now stand at US$151.

August 11, 2008

HVS EMEA Hospitality Enews – Week Ending 8 August 2008

Hilton Hotels Corporation has signed a management agreement with Aero Marine (West Africa) Ltd for a new Hilton hotel in the West African country of Nigeria. The 250-room Hilton Lagos Airport is expected to open near the end of 2010 adjacent to the international terminal at Murtala Mohammed International Airport, in the southwestern city of Lagos. The hotel will be the second Hilton hotel in Nigeria, along with the existing 670-room Transcorp Hilton Abuja in Nigeria’s capital, and it will be hotel number eight in Hilton’s African portfolio.

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August 7, 2008

EMEA Hotel Monitor Issue 2 | Cushman & Wakefield Hospitality

Following on from the success of the first issue of the EMEA Hotels Monitor, we would like to welcome you to Issue 2. The aim of the Hotels Monitor is to provide our clients and contacts with a quick reference booklet listing those vital statistics which reflect the relative health of our exciting industry across the EMEA region. The monitor incorporates hotel performance statistics from STR Global, an up to date guide on development costs from EC Harris and a selection of interesting deals transacted in the previous six months, courtesy of Cushman & Wakefield Hospitality. We hope you find this useful and please do not hesitate to get in contact if you require further information. Look out for the next edition in January 2009.

Cushman & Wakefield

August 4, 2008

HVS EMEA Hospitality Enews – Week Ending 1 August 2008

Rezidor Hotel Group has announced that it is to add three new hotels to its growing portfolio in Norway. An existing 42-room hotel in the city of Arendal, in southern Norway, is to be rebranded as the Park Inn Arendal in the third quarter of 2008, and a year later, after the addition of an annex, the hotel will operate with 114 rooms. Also in Arendal, Rezidor plans to create one of Norway’s largest resorts on the island of Tromøya, home to Norway’s Hove music festival, just outside of Arendal: the 290-room Radisson Sørlandet Resort Tromøya will open in the third quarter of 2011 directly on the waterfront. Rezidor then turned north and travelled to Oslo to announce the 300-room Park Inn Gardemoen Airport. This hotel is expected to open in the third quarter of 2010 in the terminal building at Oslo Airport, Gardemoen where it will join its sister property the Radisson SAS Airport Hotel.

July 31, 2008

STR reports U.S. hotel performance for the week ending 26 July 2008

The U.S. hotel industry posted declines in two key performance measurements during the week of 20 – 26 July 2008, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.4 percent to finish the week at 72.8 percent. Average daily rate increased 2.1 percent to end the week at US$107.69. Revenue per available room for the week fell 2.4 percent to finish at US$78.39.

July 29, 2008

Global Lodging Performance Report | June 2008 | Global hotel industry grows ADR, RevPAR | STR Global Reports

The global hotel industry achieved positive year-over-year growth in average daily rate and revenue per available room for the first half of 2008, but most regions experienced drops in occupancy, according to data from STR and STR Global. The data was gathered from more than 36,150 hotels comprising 4.93 million guestrooms worldwide.

July 24, 2008

European Chain Hotels Market Review | June 2008 | TRI Hospitality Reports

The UEFA EURO 2008 football championships caused a massive surge in profit for Vienna’s chain hotels, according to the latest European HotStats survey from TRI Hospitality Consulting.

July 24, 2008

Smith Travel Research (STR) announced second quarter and first half 2008 results for the U.S. lodging industry

Industry occupancy reached 65.0 percent in the three months ending June 2008, down 2.5 percent versus second quarter 2007. Second quarter average room rate gained 3.8 percent to $107.31 and revenue per available room (REVPAR) --- the combination of occupancy and average room rate and a key industry productivity measure --- increased 1.2 percent to $69.70.

July 17, 2008

Canadian Lodging Reports For The Week Ending July 12, 2008 | Smith Travel Research

Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. STR provides timely information and analysis to all major North American hotel chains and a growing number of chains in Europe and Asia. Individual hotels, management companies, appraisers, consultants, lenders and other lodging industry analysts also rely on STR data for the accuracy they require.

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July 11, 2008

ANZPHIC 08 Confirms Australian Hotel Market Still Up, Up & Away

Australia's hotel industry is still Up, Up & Away according to the delegates who attended the Australia, New Zealand & Pacific Hotel Investment Conference (ANZPHIC 08) held under this theme on 20 and 21 June at the Hilton Sydney. Over 400 delegates joined 60 international and local presenters and panellists to discuss the state of the industry and its outlook.

July 10, 2008

Weekly U.S. Lodging Performance 06/29/08 - 07/05/08 | Smith Travel Research

Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. STR provides timely information and analysis to all major North American hotel chains and a growing number of chains in Europe and Asia. Individual hotels, management companies, appraisers, consultants, lenders and other lodging industry analysts also rely on STR data for the accuracy they require.

July 10, 2008

Weekly Lodging Report | Canadian RevPAR 06/29/08 - 05/07/08 | Smith Travel Research

Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. STR provides timely information and analysis to all major North American hotel chains and a growing number of chains in Europe and Asia. Individual hotels, management companies, appraisers, consultants, lenders and other lodging industry analysts also rely on STR data for the accuracy they require.

July 3, 2008

Weekly U.S. Lodging Performance 06/22/08 - 06/28/08 | Smith Travel Research

Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. STR provides timely information and analysis to all major North American hotel chains and a growing number of chains in Europe and Asia. Individual hotels, management companies, appraisers, consultants, lenders and other lodging industry analysts also rely on STR data for the accuracy they require.

July 3, 2008

Canadian Lodging Reports For The Week Ending June 21, 2008 | Smith Travel Research

Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. STR provides timely information and analysis to all major North American hotel chains and a growing number of chains in Europe and Asia. Individual hotels, management companies, appraisers, consultants, lenders and other lodging industry analysts also rely on STR data for the accuracy they require.

July 2, 2008

U.S. Timeshare Industry Sales Total $10.6 Billion in 2007, According to Ernst & Young Study

Timeshares sales climbed 6 percent over 2006, with sales totaling $10.6 billion in 2007, according to a new study of the U.S. vacation timeshare industry conducted by Ernst & Young, LLP. The survey encompasses 628 timeshare resorts throughout the country, showing sales up 66 percent since 2003 and an average resort size growth of 32 percent.