Although online hotel booking numbers continue to grow, a study released in 2015 by AH&LA found that an estimated 15 million hotel bookings are fostered through fraudulent websites and call centers that have no affiliation to the hotel being advertised. For more information on how this deception impacts guests and hoteliers, click here.
Miami hotels are now experiencing a lack of demand for the thousands of rooms developers added to the market in an attempt to take advantage of interested wealthy travelers. As a result, greater Miami’s revenue per available room has fallen dramatically, according to STR. To read more, click here.
With the attacks in Paris, Brussels, Turkey, and elsewhere, terror and security scares have filled many headlines in the past few months, raising challenges for the travel and tourism industry. The World Travel & Tourism Council (WTTC) has launched a new research report that quantifies the links between tourism and peace. The report, conducted with the Institute of Economics and Peace, shows how important an open and sustainable tourism sector can be for the levels of peace in a country. Countries with more open and sustainable tourism sectors have higher levels of peace and lower levels of conflict and violence, the report states. Increases in tourism sustainability can lead to improvements in the functioning of governments, the report also found. For additional findings, click here.
AH&LA is continuing to fight against deceptive entities in the hospitality space–namely, third-party OTAs and home-sharing companies that are growing networks of illegals hotels. At a press event this week, AH&LA CEO Katherine Lugar vowed that the association is making headway on both fronts. Read more here.
Despite some hefty mergers and acquisitions in the news recently, 2016’s transaction activity is off to a slow start. According to Lodging Econometrics’ latest U.S. Transactions Trend Report, there were 252 hotel transactions in Q1–the lowest volume recorded since Q3 2012. There was no M&A activity reported in Q1. Only 42 of the hotels sold were part of portfolio transactions, the lowest total in four years. The remaining 210 hotels were single-asset transactions.
Bill Sipple, executive managing director of HVS Capital Corp., died on April 24. A graduate of the School of Hotel Administration at Cornell University, Sipple held previous positions with Ramada, Starwood, and Carlson before becoming executive managing director at HVS Capital. Sipple contributed invaluably to firm initiatives at HVS global summits, as well as at HVS partner meetings, according to the company. He spoke at dozens of industry conferences, such as the NYU Hospitality Conference, ALIS conference, Meet the Money conference, and the Hotel Lodging Conference. Under his stewardship, HVS Capital was involved in numerous high-profile assignments. To read more, click here.