WASHINGTON—Hotels are projected to pay a record amount of wages and generate a record level of tax revenue in 2024, according to the American Hotel & Lodging Association’s 2024 State of the Hotel Industry report. The report, which forecasts that hoteliers will face continued challenges due to nationwide labor shortages while inching closer to 2019 occupancy levels, is based on data and analysis from Oxford Economics and was created in collaboration with AHLA Premier Partners
Food & beverage has always been a critical part of the hospitality experience, but in an increasingly competitive landscape providing the right experience can be a major point of differentiation for hoteliers. As such, understanding the latest F&B trends can help hotel owners/operators improve the guest experience and maximize ROI. From the latest healthy food options to different menu ideas, there are many ways for hoteliers to capitalize and leverage the latest trends into an
Fast-Growing Upscale Brand Arrives in the Motor City
Category: Development, Finance & Development, Openings
Cambria Hotel Detroit Downtown | Detroit, Michigan The third Cambria property open in Michigan and the 67th nationally, Choice Hotels International’s new Cambria Hotel Detroit Downtown is one of the brand’s several recent openings in city-center locations. Situated in the business district, the property is near riverfront restaurants, the Detroit Opera House, Ford Field, Comerica Park, Little Caesar’s Arena, and the Huntington Place Convention Center, as well as Wayne State University and the University of Detroit. A prime example of the adaptive
ATLANTA—Valor Hospitality Partners partnered with DailyPay to provide an on-demand pay benefit to its U.S. employees. DailyPay is a financial wellness benefit that enables employees to access their pay as they earn it to pay bills, spend, invest, and save on their own schedules. As employees work, they can also track how much they’ve earned in real time. This visibility into their up-to-date earnings allows them to make the best financial decisions. As Valor continues
STR: Las Vegas ADR Expected to Reach Highest Level of Any Super Bowl Weekend
Category: Featured, Finance, Finance & Development, Market Reports
HENDERSONVILLE, Tennessee—Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for Feb. 9-11, 2024, which would be the highest level for any Super Bowl weekend on record, according to STR. The market is projected for a Friday through Sunday night occupancy of 87.9 percent. That level combined with an ADR of $573 would result in revenue per available room (RevPAR) of $504. For comparison, the Formula One Vegas Grand Prix that took
