The hotel project was signed with a group of local, prominent investors from Chihuahua with over 36 years of experience and a portfolio that includes over 7 local hotels.
The Ritz-Carlton Hotel Company, L.L.C. has announced Bali, Indonesia as the next stunning location of a Ritz-Carlton Reserve.
Rim Hospitality has announced the addition of a new area general manager who will oversee the Oakland Convention Center and two Marriott properties in the Oakland area.
The sharing economy is growing, spreading to industries including food, travel and fashion. Mainstream retailers would do well to take notice, say panelists at the recent Wharton Social Impact Conference.
These are getting to be pretty exciting times to be in the hotel business. Hotel industry fundamentals have continued to improve since the Great Recession and none of the experts see a particular event or reason that fundamentals will stall. Although occupancy growth rate is slowing in some sectors, ADR growth generally continues to drive greater profits to the bottom line.
In year-over-year comparisons, occupancy decreased 5.1 percent to 58.8 percent; average daily rate was down 0.7 percent to CAD$126.77; and revenue per available room decreased 5.7 percent to CAD$74.52.
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