CBRE's latest forecast projects a 2.0% increase in RevPAR growth for 2024, down from the 3.0% estimated in February 2024. RevPAR is now expected to grow by 3% for the remainder of the year, driven by international tourists, holiday travel and limited supply growth.
Personalization viewed as a key driver of commercial value for hoteliers, as 85% of hoteliers feel it could help deliver in excess of 5% in incremental revenue
Small properties (one hundred rooms or less), especially upper-upscale and luxury boutique hotels in destination markets that are principally leisure with higher ADRs, are often attractive buy-out destinations for certain kinds of groups. This can range from weddings and reunions to corporate and association retreats or incentive travel.
A day after OpenAI announced its newest artificial intelligence model, Google unveiled big changes to its search engine among numerous other AI-driven product updates that include new trip-planning capabilities that travel insiders are already saying could represent an improvement in the sector.
As Google continues to roll out AI-powered search features, which will undoubtedly increase its dominance in travel, Rod Cuthbert, the founder of Viator and generally acknowledged as the 'Godfather of tours and activities' got quite indignant during his session at WiT Japan & North Asia in Tokyo on Tuesday.
2024 kicked off with exceptional growth in the hospitality sector, particularly in Q1, where we observed a notable surge in hotel guest satisfaction and responsiveness. This trend, especially pronounced in the 3 and 4-star hotel categories, not only mirrors but also exceeds the upward trajectory seen in the previous year's first quarter. The latest Guest Experience Benchmark Report reveals key trends shaping the sector in early 2024.
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, presents the opportunity to acquire the 118-key Hilton Garden Inn Victoria, an institutional, high-quality, select-service hotel asset in the growing submarket of Victoria, Texas.
The Best Western is conveniently located off northwestern Iowa's highways 3 and 59 just minutes from the Cherokee Historic District and the Sanford Museum.
The newly built lifestyle hotel, thoughtfully designed by Storyn Studio for Architecture, will introduce 163 guest rooms and suites, a dynamic lobby featuring indoor and outdoor spaces, a large open-air bar and premium coffee cafe, work areas, and the neighborhood's first rooftop pool deck with a poolside bar.
Home2 Suites by Hilton Poughkeepsie opened its doors to the public on May 9th, 2024. The extended stay hotel is located on the banks of the Hudson River at 2619 South Road, Poughkeepsie, NY12601.
Four Seasons Hotel St. Louis, in collaboration with Horseshoe St. Louis, announces the opening of Ramsay's Kitchen By Gordon Ramsay, the first restaurant in St. Louis from multi-Michelin-starred Chef Gordon Ramsay. Inspired by Chef Ramsay's travels abroad, the Ramsay's Kitchen concept takes guests on a global culinary journey.
Following a $90 million restoration and nearly a decade of careful planning, Hotel Cleveland, Autograph Collection and its renovation is complete at 24 Public Square in Downtown Cleveland.
Today, Airlines Reporting Corp. (ARC) released data showing April air ticket sales totaled $9.1 billion for U.S. travel agencies - a 4% increase from April 2023. This marks the largest recorded total for April since ARC began reporting this data in 2017.
With the completion of the resort pool, spa, and additional food and beverage options, The Ritz-Carlton Dallas, Las Colinas completes the $55-million transformation of Texas' original resort. This property-wide renovation also features refreshed meeting space and state-of-the-art ballroom facilities spanning 80,000 square feet.
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
The U.S. hotel industry reported higher performance from the previous week and positive comparisons year over year, according to CoStar's latest data through 11 May.
Rate parity is a common practice in hotel revenue management. It's also a quite controversial one. The debate around its fairness is ongoing, and in one case, a dispute on its application even had to be resolved by a Supreme Court. In this article, we explore what rate parity is, its pros and cons, and how you can adapt to it successfully.
There are a near-infinite number of marketing channels vying for your budget, but which ones are worth your limited time and funds? That's the topic today.
Live events in locations nationwide will showcase the strategies and resources essential for business expansion. Registration is now open for Nashville and St. Louis.
Canadian hotel investment activity totaled approximately $750 million in Q1 2024, up more than twofold from the same period last year with the closing of major portfolio and single asset transactions.
Extensive makeover opens with revamped Ainahau Tower and newly introduced Junior Suites
The commercial real estate lending market slowed in Q1 2024 due to high interest rates and limited credit availability, but a tightening of credit spreads indicated signs of stabilizing, according to the latest research from CBRE.
Four Seasons Private Residences Las Vegas today announced over $400 million in sales to date and continues to make construction progress ahead of its late 2026 debut. Since launching sales in May of 2023, the building is 45 percent sold.
In the world of hospitality, experiences play a crucial role in creating lasting memories for guests. While everyone may talk about the ideal guest experience, it's essential to recognize that not all experiences are created equal. What truly sets a guest experience apart and makes it unforgettable? Personalization is obviously key.
From boosting security to personalising guest interactions, AI is redefining efficiency and satisfaction in hospitality.