Canada’s hotel industry reported a third consecutive month of occupancy declines but continued growth in average daily rate (ADR), according to CoStar’s February 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
U.S. hotel performance increased from the previous week but showed continued declines year over year, according to CoStar’s latest data through 16 March. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.10-16 March 2024 (percentage change from comparable week in 2023):
The U.S. hotel industry reported higher performance results month over month, according to February 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
U.S. hotel performance increased from the previous week but declined year over year, according to CoStar’s latest data through 9 March. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Hilton (NYSE: HLT) today announced an agreement with Adventurous Journeys Capital Partners (“AJ Capital”) to acquire the fan-favorite Graduate Hotels® brand, adding a significant growth opportunity for the global hospitality leader in the fast-growing lifestyle hotel market.
Officials of R.M. Woodworth & Associates (RMWA), a leading provider of customized lodging research and advisory services, and Core Hospitality Advisors, a firm specializing in hospitality real estate appraisals, today announced the merger of their two firms. Adam Cowart and John Ritger will be joining Mark Woodworth, Henry B. “Hank” Staley, Jr. and Jill L. Bidwell as principals in the new firm, Woodworth Core Group (WCG). With the merger, WCG will have offices in Atlanta, Jacksonville, Washington, D.C., Birmingham, Baton Rouge and Boise, Idaho.
Spring break season is officially here, and tracking school calendar data becomes critical during this time in order to predict travel demand across the U.S. The swings in academic calendar patterns from year to year can generate substantial waves in hotel performance, as vacation scheduling directly impacts over 50 million public K-12 students and their families across the country.
Wyndham Hotels & Resorts (NYSE: WH) ("Wyndham") today commented on the expiration of Choice Hotels International, Inc.'s (NYSE: CHH) ("Choice") exchange offer and its decision to withdraw its slate of nominees for election to Wyndham's Board of Directors at the 2024 Annual Meeting of Shareholders:
Choice Hotels International, Inc. (NYSE: CHH) (the "Company" or "Choice") today announced the expiration of the exchange offer to acquire all of the issued and outstanding shares of Wyndham Hotels & Resorts, Inc. (NYSE: WH) ("Wyndham"). The Company is also withdrawing its nomination of the highly qualified, independent director candidates for election at Wyndham's 2024 Annual Meeting of Stockholders.
U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data through 2 March. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.25 February through 2 March 2024 (percentage change from comparable week in 2023):
RevPAR showed modest year-over-year (YoY) growth in January, reflecting a return to pre-COVID patterns of low single-digit gains. RevPAR was lifted by a healthy ADR increase, which was partially offset by an occupancy decline. Demand across the U.S. has declined year over year for the past 10 months. Fortunately, supply increases have remained modest and are expected to remain low for the rest of the year as the pace of rooms in construction has slowed. Looking further out, projects in planning are on the rise, which will put more pressure on occupancy next year. As a counter, inbound travel is expected to strengthen, after being at a deficit over several years, which should help ease this pressure.
U.S. economic growth surprised to the upside in the fourth quarter with Real GDP increasing 3.3%, well above expectations, however below 3Q-2023’s 4.9% rise. Despite positive economic growth, U.S. RevPAR only increased 1.3%, as occupancy declined 1.6% during the quarter. While group demand continued to be strong, leisure demand continued to soften in 4Q-2023 and corporate transient demand did not accelerate as we had anticipated.
U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data through 24 February. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.18-24 February 2024 (percentage change from comparable week in 2023):
A consumer's sense of personal financial well-being likely forms the bedrock for spending behavior — from their approach to budgeting, to what they buy at the grocery store, how they plan their vacations, and when they buy a car. In its fourth year, Deloitte's "ConsumerSignals" (formerly the Global State of the Consumer Tracker), a longitudinal consumer research study, explores shifts in global financial well-being sentiment and its potential impact on purchase decisions.
Super Bowl LVIII in Las Vegas produced unprecedented hotel performance levels—not just for the Super Bowl but for any weekend in history.
Canada’s hotel industry showed lower occupancy but continued growth in average daily rate (ADR), according to CoStar’s January 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 17 February. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.11-17 February 2024 (percentage change from comparable week in 2023):
The U.S. hotel industry reported lower performance results month over month, according to January 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 10 February. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
CBRE is forecasting revenue per available room (RevPAR) will continue to grow steadily in 2024, driven by improving group business, inbound international travel and traditional transient business demand.