Business Travel Accelerating
Despite ending 2022 still 29% below 2019 levels, transient and group business travel have made considerable progress this year.
By Jamie Mageau, Director of Research Products, U.S. Travel Association
News
Mission Hill Hospitality Expands Portfolio with Acquisition in Breckenridge, CO
Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired the 129–key Residence Inn by Marriott in Breckenridge, Colorado.
RIDE with Red Roof Signs Fully Woman-Owned Franchise in Mississippi
Red Roof®, the leader in economy lodging, announced its first fully woman-owned franchise since launching its new RIDE with Red RoofSM initiative. The property is a Red Roof Inn & Suites conversion located in Richland, Miss., and is the second hotel in owner Kalpana Patel’s portfolio. It brings the number of Red Roof properties owned or partially owned by women to more than 35%.
How and where families are traveling on Airbnb this summer
While the days are longer, summer months can seem shorter as we strive to squeeze every ounce of enjoyment out of them before the weather turns. For families, the speed at which the summer months move can feel even faster with children out of school and running from activity to activity. That’s why many choose to unplug from the daily hustle and bustle, pack their bags and head out to explore new horizons with loved ones – because creating cherished memories together is a priceless treasure and increasingly, Airbnb is helping to facilitate these memorable trips. In the US:
Gateway Casinos & Entertainment Announces Untimely Passing Of CEO Tony Santo
Gateway Casinos & Entertainment (Gateway) today announced that Tony Santo, Chief Executive Officer and Director, passed away unexpectedly on August 17, 2023.
The Q2 Business Travel Tracker Shows Business Demand is Normalizing While Cost Constraints Diminish
Business travel expectations are normalizing. In line with other travel indicators softening and consistent with prior quarters, eight in 10 business travelers expect to travel to attend conferences, conventions or trade shows in the next six months.
By Jamie Mageau, Director of Research Products, U.S. Travel Association
Extended-Stay Hotels Continue to Gain in Popularity
The pandemic and hybrid work arrangements have generated strong demand for longer hotel stays, increasing the popularity of cost-effective extended-stay hotels and making them one of the fastest growing segments in hospitality. With higher margins and lower development costs than full-service hotels, extended-stay properties have the potential to generate higher returns on investment. As a result, banks are more likely to provide funding for what are perceived to be lower-volatility, higher-return hotels, particularly those associated with well-established brand families. We expect capital to continue flowing into this segment as long as outsized returns exist.
By Jack Levy, Hospitality Consultant, CBRE Hotels
Wyndham and LuxUrban Ink Deal to Expand Trademark Collection Portfolio in the U.S.
16 LuxUrban hotels across New York, Washington D.C., Miami, New Orleans and Los Angeles to join Wyndham’s Trademark Collection, with the opportunity for additional hotels to join thereafter. LuxUrban will continue to manage hotels as they join the industry’s #1 hotel rewards program and leverage Wyndham’s best-in-class sales, marketing, technology and distribution platform.
How Three—or Four—Factors Have Combined to Increase Travel's Affordability
Below, we take a deep dive into the data and what it means for travel.
By Aaron Szyf, Economist, U.S. Travel Association
AHLA Statement in Support of the Hotel Fees Transparency Act
American Hotel & Lodging Association (AHLA) President & CEO Chip Rogers is speaking out today in support of the Hotel Fees Transparency Act, which was introduced in the U.S. Senate by Sens. Klobuchar (D-Minn.) and Moran (R-Kan.).
Choice Hotels Survey finds consumers are prioritizing experiences and exploring the U.S. and want to spend less than $200/night on lodging
Today, Choice Hotels International, Inc. (NYSE: CHH), released its first Choice Privileges State of the American Traveler Survey, a poll of more than 2,000 U.S. adults that sheds new light on Americans' travel plans and priorities this summer and beyond. This survey, conducted in partnership with Harris Poll, comes as nine new brands with nearly 600 hotels, including Radisson Blu, Radisson and Country Inn & Suites, are now available to be booked on ChoiceHotels.com. Earlier this week Choice announced the successful integration of the Radisson Rewards Americas loyalty program into the award-winning Choice Privileges program. This enables the nearly 60 million Choice Privileges members to earn and redeem points at over 7,400 hotels across 22 brands in 45 countries and territories.
As Camping Popularity Surges, RV Resorts Look to Capitalize With Hotel-Like Comforts
Over the past several years, H&LA has seen a marked increase in interest from developers and investors in campgrounds and RV resorts. RV parks are rebranding as resorts as they add more amenities. Though camping is far from a new phenomenon, its uptick in popularity during the COVID-19 pandemic helped introduce it to many first-time campers, which boosted participation to higher levels. One of the most popular pastimes in North America, camping has the added benefit for travelers of also being one of the most affordable and accessible vacation options.
By Anthony DiPonio, CHIA, Associate, Hotel & Leisure Advisors (H&LA)
Hilton Grand Vacations to Host Hospitality Suite at the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX
Hilton Grand Vacations Inc. (NYSE:HGV), the industry-leading global vacation ownership company, announces it will host a premier on-track hospitality suite for the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX. As an official event partner, HGV will offer an exclusive opportunity for fans to take in the spectacle of 20 cars roaring around the iconic sights of Las Vegas at over 210 mph from a luxurious setting.
Crescent Hotels & Resorts Adds the Iconic Mission Inn Hotel & Spa to Luxury Management Portfolio
Crescent Hotels & Resorts, the award-winning operator of over 120 hotels and resorts, announced the addition of The Mission Inn Hotel & Spa to its Latitudes: Lifestyles by Crescent portfolio. The iconic AAA Four-Diamond hotel evokes the graceful ambiance experienced by its very first guests in 1876.
AHLA Survey: Most Americans more likely to stay in hotels, vacation this summer vs. last
This summer, most adults are more likely than they were in the summer of 2022 to stay in a hotel and take vacation trips, according to a new national Hotel Booking Index survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult.
Industry Perspectives: Looking Ahead for the Travel Industry
These insights and perspectives help us understand how some of the largest travel corporate players are viewing the state of the economy and its impact on the travel industry as well as the main factors they are monitoring that may hinder their continued growth.
By Jamie Mageau, Director of Research Products, U.S. Travel Association
LuxUrban Hotels Signs Master Lease Agreements to Operate Boutique Hotels in New York City and Los Angeles Adding 214 Units to its Portfolio
LuxUrban Hotels Inc. (Nasdaq: LUXH) (or “the Company”), which utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in these properties in key major metropolitan cities, announced today that it has signed a 25-year Master Lease Agreement (MLA), inclusive of two five-year options, to operate the Condor Hotel in Williamsburg, Brooklyn (“Condor Hotel”). The Company also signed a 15-year MLA, inclusive of one five-year option, to operate the Trinity Hotel (“Trinity”) in Los Angeles, California.
GBTA Commends Biden Administration Ending Covid-19 Vaccination Requirements for Non-U.S. Travelers
The Global Business Travel Association (GBTA), the voice of the global business travel industry, supports the decision and recent announcement by the Biden Administration to no longer require non-U.S. travelers entering the United States via air, land and seaports of entry to be fully vaccinated against COVID-19 and provide related proof of vaccination upon request.
Magnuson Hotel Virginia Beach renews thirteen-year-old affiliation with Magnuson Hotels
Magnuson Hotels has announced the renewal of affiliation with Magnuson Hotel Virginia Beach, its midscale franchised hotel that first joined the group thirteen years ago in 2010.
Choice Hotels International 67th Owner & Franchisee Convention Concludes, Setting the Roadmap For Franchisee Growth Through 2023 and Beyond
Choice Hotels International, Inc. (NYSE: CHH) concluded its 67th Annual Convention in Las Vegas last week with new brand announcements, award recognition for top hotels in Choice's global portfolio, and a clear vision for continued growth and success in the year ahead – reflecting Choice's strategy of strengthening its entire system with new hotels entering and reinvesting in the guest experience following its acquisition of Radisson Hotels Americas.