WASHINGTON—As more than two-thirds of hotels continue to experience staffing shortages, hoteliers are offering more pay and incentives to attract and retain talent, according to a new survey conducted by the American Hotel & Lodging Association (AHLA). Over the last six months, 82 percent of respondents have increased wages, which hit a record-high average for hotels in December 2023. In addition, 59 percent are offering greater flexibility with hours, and 33 percent are expanding benefits.
CoStar: P&L Data Shows Improvement in Group Business
Category: Featured, Finance, Finance & Development, Market Reports
WASHINGTON—Improvement in group business, especially across the Top 25 Markets and upper-upscale chains, drove growth in U.S. hotel revenues and profits, according to 2023 P&L data from CoStar. U.S. Hotel Performance 2023 per-available-room metrics Percentage change from 2022GOPPAR: $75.83 (up 8.2 percent)TRevPAR: $211.49 (up 9.6 percent)EBITDA PAR: $53.05 (up 7.6 percent)LPAR: $71.56 (up 13.2 percent) “Total industry revenues and profits were well beyond 2022 levels as pricing power continued to outweigh the impact of softer
Four Seasons Resort Rancho Encantado Santa Fe Announces Revitalization
Category: Design, Renovations
SANTA FE, New Mexico—Four Seasons Resort Rancho Encantado Santa Fe announced a multimillion-dollar revitalization—the first in the resort’s history—of all guestrooms and suites with the introduction of sustainability-focused landscaping. The revitalization will be conducted in three phases in an effort not to impact the guest experience and is anticipated to be completed this spring. The upgrades are led by Langlois Design, which is preserving the resort’s Southwestern aesthetic while adding modernity. All rooms will be
TAMPA, Florida—Mainsail Lodging & Development announced the expansion of its executive leadership team with the appointment of Lisa Conner as chief financial officer, alongside four other executives. The recent appointments include Ben Miele as director of accounting; Lori Nelson as paralegal; Bria Jones as corporate recruiter; and Netta Katz as reservation manager. The recent move signals a period of growth for the company. “We are thrilled to welcome these industry professionals to our corporate team.
NORTH BETHESDA, Maryland—Choice Hotels International, Inc. broke ground on five Everhome Suites in Amarillo, Bastrop, Brownsville, El Paso, and Waco, Texas; and one groundbreaking in Yuma, Arizona. “With over 60 Everhome Suites in our pipeline and six new groundbreakings across the Southwest, Choice continues to capture growing demand for extended stay properties in the region. Our leadership in extended stay is made possible by Choice’s expert team of dedicated professionals, in collaboration with our outstanding
