CoStar: U.S. Hotel Performance Increases for First Time in Weeks
Category: Finance, Finance & Development, Market Reports
WASHINGTON—U.S. hotel performance increased from the previous week according to CoStar’s latest data through Sept. 16, 2023. U.S. Hotel Performance Sept. 10-16, 2023 Percentage change from comparable week in 2022:Occupancy: 67.7 percent (down 2.2 percent)ADR: $161.15 (up 2.3 percent)RevPAR: $109.07 (up 0.1 percent) Among the Top 25 Markets, Oahu Island saw the largest year-over-year occupancy increase (up 7.4 percent to 83.6 percent). Helped by Dreamforce 2023, San Francisco posted the highest jumps in ADR (up
AMSTERDAM—PPDS announced the launch of the two-in-one Philips Professional Soundbar HAL5023 with built-in subwoofer, designed for Philips MediaSuite TVs. Continuing PPDS’ all-encompassing strategy, the Philips Professional Soundbar combined with Philips MediaSuite delivers an audiovisual experience in hotel guestrooms.Designed and built in collaboration with TP Vision’s Philips sound team, the trapezoid-design has a 2.1 channel setup and a built-in subwoofer. Back-end controls through Philips MediaSuite TVs also allow for configurations to be put in place, including
TPG Hotels & Resorts to Manage Three Boutique Properties in Buffalo, New York
Category: Industry News, Management
PROVIDENCE, Rhode Island—TPG Hotels & Resorts announced it has been selected by Douglas Development to manage three upscale independent boutique properties in Buffalo, New York. The properties include The Richardson Hotel, The Roycraft Inn, and The Mansion on Delaware. “These historic assets have been meticulously redeveloped and maintained by a premier ownership group,” said Ben Perelmuter, president of TPG Hotels & Resorts. “We feel privileged to be entrusted with the management of these extraordinary properties by
Best Western’s Big Wave: Loyalty, Revenue, and Development Highlights at Annual Convention
Category: Conferences and Events, Featured, Industry News
BWH Hotels franchisees made a strong showing at the company’s annual convention, which took place this week in Honolulu at the Hawaii Convention Center and Hilton Hawaiian Village. The attendance figure of approximately 2,000 is comparable to previous conventions in Hawaii, which BWH Hotels visits every seven years. Yesterday’s spirited general session was tempered by a recognition of the tragedies caused by the August wildfires on Maui, which destroyed the historic Best Western Pioneer Inn
CoStar: August 2023 U.S. Hotel Performance Improved Year Over Year
Category: Finance, Finance & Development, Market Reports
WASHINGTON—Following seasonal patterns, the U.S. hotel industry reported lower performance results from the previous month but improved comparisons year over year, according to August 2023 hotel performance data from CoStar. U.S. Hotel Performance August 2023 Percentage change from August 2022: Occupancy: 66.0 percent (down 0.3 percent)ADR: $153.60 (up 1.8 percent)RevPAR: $101.35 (up 1.5 percent) Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.4 percent), which was up 3.4 percent year over