As Veterans’ Day approaches, independent properties are coming together to offer complimentary stays for those who served their country. An initiative of the Association of Independent Hospitality Professionals, the B&B for Vets program offers free nights on or around Veterans’ Day at participating properties. Read more.
This week, Red Roof expanded its loyalty program so that, in addition to using rewards points for booking rooms, guests can now “buy” Amazon gift cards, Apple products, and other items through an online marketplace. Read about how more hotels are partnering with big-name retailers to expand loyalty perks here.
Yesterday morning, Hurricane Maria made landfall on Puerto Rico’s southeastern coast as a Category 4 storm. It lingered for 10 hours, knocking out power and water for the entire island, which has yet to be restored. Puerto Rico is also without cell service at the moment. Experts are estimating that it will take up to six months to restore power to the entire island, which is now just starting its cleanup efforts. Hurricane Maria is the third hurricane to have devastating effects on the southern U.S. and its territories over the last four weeks. To read more, click here.
COLUMBUS, Ohio—U.S. Realty Consultants, Inc. has released its Mid-Year 2017 Hotel Investor Survey, which shows strength and stability in the hotel sector, but with a dose of caution regarding future growth.
Discount rates were largely flat since the last survey in early in 2017, with full-service hotels increasing a modest 20 basis points, and limited-service hotels improving by 20 basis points. Full-service hotel capitalization rates decreased by a modest 10 basis points to 7.5 percent, and limited service hotels declined by the same margin.
While similar to the results last survey, ADR growth expectations are down significantly from a year ago. For both full-service and limited-service hotels, overall ADR growth expectations are only slightly higher than expense growth expectations.
Between Harvey and Irma, the damage so far this hurricane season has interrupted business at hotels across Texas and the U.S. Southeast, leaving many hoteliers struggling to arrange repairs and reopen properties. Complicating that process further is the fact that the damage on some hotels may not be fully covered by their insurance, requiring hoteliers to shell out more money to make repairs. To read about experts’ advice on navigating insurance claims after a storm and what steps hoteliers can take to ensure that they are getting the most coverage, click here.
Greater demand from travelers for unique experiences has driven some success for boutique properties and prompted an increase in large hotel companies launching soft brands to respond to guests’ changing tastes. However, this trend has not put an end to the development of massive hotels and resort properties across the globe. To read about five large hotel projects in the pipeline that are poised to make a splash in the hospitality landscape, click here.