Canada is experiencing a spike in bookings for the coming year. Travel experts attribute this in part to the country’s 150th anniversary of confederation, which will be celebrated by offering free admission to its national parks. Tourism could also be up because of the strength of the U.S. dollar. To read more, click here.
More than 33,000 new rooms are planned in the top 10 most active markets this year. The top market by a wide margin is New York City, with an estimated 8,612 new rooms in the pipeline for 2017. Lodging Econometrics and CBRE Hotels’ America’s Research both additionally named Houston, Dallas, Chicago, and Los Angeles as cities to watch. To read more, click here.
Travel insurance comparison website Squaremouth has reported an 18 percent increase in the number of travelers who bought insurance in 2016. The company attributes the rise to increased concerns over the Zika virus and terrorism. Read more here.
Megaresort Baha Mar’s ongoing troubles seem to be continuing, as Bahamas legislators are now questioning the cost of the government’s agreement with Chow Tai Fook Enterprises to own and operate the property. To read more, click here.
The U.S. economy added 156,000 jobs in December, according to the latest numbers from the Bureau of Labor Statistics. According to the ADP National Franchise Report, the accommodations sector rose by 2,200 jobs during the same period. Additionally, U.S. wages in December rose at the fastest pace since mid-2009, with average hourly earnings increasing by 2.9 percent year-over-year. This marks the final job report for the Obama administration. During the past eight years, the unemployment rate has dipped from 7.9 percent to 4.7 percent, and the number of payroll jobs is up by 8.4 percent. To read more, click here.
On average, one percent of occupied hotel rooms order paid video-on-demand, and 90 percent of those profits come from adult entertainment. However, 40 percent of rooms stream from Netflix when offered instead of video-on-demand. Read more here.