According to PwCs 6th edition Hotels Outlook 2016 2020, revenue from hotel room accommodation in South Africa rose 8.1% in 2015 to R14.2 billion, reflecting an increase in stay unit nights and a 6.5% rise in the average room rate.
Tourico Holidays today shared travel forecast data predicting a more than 30 percent year-over-year increase in United Kingdom hotel room nights in the second half of 2016.
Bill Blackham, President and CEO of Condor Hospitality Trust, speaks to Bob Braun, senior member of JMBMs Global Hospitality Group® at JMBMs 2016 Meet the Money® - the national hotel finance and investment conference. They discuss Condors transition from economy chain scale into select service, extended stay and limited service hotels, RevPAR, and opportunities in the select service sector.
In year-over-year comparisons, the industry's occupancy decreased 1.1% to 78.2%. However, average daily rate was up 4.1% to US$130.83, and revenue per available room increased 2.9% to US$102.24.
Hospitality Ventures Management Group (HVMG) today announced it has acquired two downtown Winston-Salem, North Carolina hotels, both adjacent to the Benton Convention Center which is currently under an $18 million renovation: the 315-room Marriott and the 146-room Embassy Suites.
Sheraton Hotels & Resorts today announced the opening of the Sheraton Georgetown Texas Hotel & Conference Center, a 222-room hotel located in the heart of Georgetown, Texas, and just 27 miles outside of Austin.
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