CoStar: U.S. Hotel Performance Increases for Second Week in a Row
Category: Finance, Finance & Development, Market Reports
WASHINGTON—U.S. hotel performance increased from the previous week according to CoStar’s latest data through Sept. 23, 2023. U.S. Hotel Performance September 17-23, 2023 Percentage change from comparable week in 2022:Occupancy: 68.5 percent (down 1.6 percent)ADR: $164.97 (up 2.9 percent)RevPAR: $112.96 (up 1.2 percent) Occupancy remained down year over year due to the Rosh Hashanah calendar shift. Among the Top 25 Markets, Minneapolis saw the largest year-over-year occupancy increase (up 7.4 percent to 71.3 percent). Helped
Amadeus Q4 Data Shows Global Hotel Occupancy is Trending Ahead of 2022
Category: Featured, Industry News, Trends & Research
According to new Demand360 business intelligence data from Amadeus, global hotel occupancy levels up to the end of August 2023 have been an average of 10 percent ahead of 2022. For the fourth quarter of 2023, worldwide on-the-books occupancy data reveals that reservations are trending 11 percent ahead of those seen in 2022. In a further boost to hoteliers, global revenue per available room (RevPAR) has grown by an average of 17 percent this year
Hotel Marcel Becomes First Passive House Certified Property in the United States
Category: Industry News, Sustainability
When architect and developer Bruce Redman Becker envisioned the opportunity to create Hotel Marcel New Haven, Tapestry Collection by Hilton, which opened in May 2022, he set a goal to create a hotel that operated fully on renewable energy, without any use of fossil fuels. That vision is now a reality and Hotel Marcel has also become the first Passive House-certified hotel in the country. The Passive House certification, managed by Passive House Institute (PHI),
What is your opinion on the current state and future of hotel development? The hotel industry is in the midst of a period of significant growth, with new builds and conversions on the rise. In the United States, there are currently over 1,000 hotels in the development pipeline, and this number is expected to grow in the coming years. Several factors are driving this growth, including a strong demand for hotel rooms, the rising popularity
PALMA, Spain—Hotelbeds formed a new partnership to provide Hopper access to its portfolio of 300,000 hotels across 195 countries. The agreement enables Hotelbeds to grow its business in the United States while opening up new markets for Hopper. Data from the U.S. International Trade Administration reports that total travel and tourism output was valued at $1.7 trillion in 2021. “This new partnership will help us expand our footprint further in the dynamic U.S. market,” said
