The Baird/STR Hotel Stock Index reported a 2.1-percent increase to 3,049 in November. Year-to-date 2013, the Baird/STR Hotel Stock Index is up 24.6 percent. The index ended 2012 at 2,448.
In year-over-year comparisons, occupancy increased 4.6 percent to 60.5 percent; average daily rate was up 2.5 percent to CAD$128.19; and revenue per available room increased 7.3 percent to CAD$77.57.
Noble Investment Group today announced the acquisition of the Q Hotel located in the Historic Westport District of Kansas City, Missouri. The 123-room hotel will undergo a comprehensive renovation and conversion to become one of the first AC Hotels by Marriott properties located in the United States.
One in ten London hotel rooms is already filled for Valentines Day 2014 (11.2 per cent), an increase in bookings at this point in the booking window of 60 per cent year over year.
London is the most sought after location in the world for investors looking to acquire a hotel, according to LuxuryEstate.com.
The total active U.S. hotel development pipeline comprises 2,807 projects totaling 339,602 rooms, according to the November 2013 STR Pipeline Report.
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