For the week ending 22 February, Canadian hotels reported a 2.5% year-over-year decrease in occupancy to 58.5% and a 0.1% dip in average daily rate, which resulted in a 2.6% decline in revenue per available room.
The coronavirus has the potential to threaten the entire global business travel industry. According to a new lightning poll released today by the Global Business Travel Association (GBTA), the virus could potentially cost the industry $46.6 billion per month. That translates into $559.7 billion annually, or 37% of the industrys total 2020 forecasted global spend.
Online success for hotel properties starts with technology platforms. Digital marketing doesnt have to be complicated, the right technology should only make things easier.
Fourth quarter reported net income totaled $279 million, a 12 percent decrease from prior year results. Fourth quarter adjusted net income totaled $517 million, a 4 percent increase from prior year adjusted results
The project is part of a multimillion-dollar mixed-use urban regeneration project across two towers and a podium comprising a luxury lifestyle hotel, commercial workspace and a high-end ground floor retail space.
The five largest global hotel chains also rank in the top 10 for room counts, fueled by year-over-year increases in net unit growth, according to STR data.