WASHINGTON—American Hotel & Lodging Association (AHLA) Interim President and CEO Kevin Carey released the following statement after the General Services Administration (GSA) announced its fiscal year 2025 per diem rates for federal workers. GSA’s per diem guidelines govern reimbursement for federal employees’ lodging and meal expenses for official government travel. Starting October 1, 2024, the standard daily lodging allowance for most of the continental United States will increase by $3 to $110 per day, an
Bed bugs can be a nightmare for the hospitality industry, leading to unhappy guests, potential health issues, and negative business reviews possibly resulting in lost revenue. Bed bugs will live anywhere and can easily hitchhike their way into your building on the clothing and personal items of guests and staff alike. If you do find yourself with a bed bug infestation, preparing for a bed bug service is crucial to help ensure the treatment is
COCOA BEACH, Florida—Driftwood Hospitality Management (DHM) announced the completion of a multimillion-dollar renovation for the Hilton Cocoa Beach Oceanfront, a 295-key flagship property on Florida’s Space Coast. The renovations, encompassing seven floors and more than 10,000 square feet of meeting space, draw inspiration from Cocoa Beach’s nature and surf culture. The property includes a refreshed lobby with ocean-inspired artwork and newly renovated guestrooms featuring blue tones and local surfing photography. “Our goal was to create
CBRE Reduces U.S. Hotel Performance Forecast, Lodging Demand Softens
Category: Development, Featured, Finance & Development, Market Reports
DALLAS, Texas—CBRE reduced its forecast for U.S. hotel performance this year as lodging demand softens due to weaker-than-expected leisure travel and slowing corporate profit growth. CBRE now projects a 1.2 percent increase in revenue per available room (RevPAR) growth for 2024, down from the 2.0 percent estimated in May 2024. Nevertheless, CBRE anticipates 2 percent year-over-year growth in RevPAR in the second half of 2024, up from 0.5 percent year-over-year growth in the first half,
CoStar: U.S. Hotel Industry Continues Positive Performance
Category: Finance, Finance & Development, Market Reports
WASHINGTON—The U.S. hotel industry reported positive comparisons year over year for the second week in a row, according to CoStar’s latest data through August 10, 2024. U.S. Hotel PerformanceAugust 4-10, 2024 Percentage change from comparable week in 2023:Occupancy: 68.7 percent (up 0.5 percent)ADR: $159.49 (up 1.4 percent)RevPAR: $109.51 (up 1.9 percent) Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (up 31.1 percent to 76.3 percent) and RevPAR (up 47.2 percent