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Originally seen HERE. Hurdles include bid-offer spreads, the interest rate plateau and relative reality checks. Triggers may come in the form of debt deadlines, ROI reviews and icebreaker action. Dealmaking in the hotel and hospitality sector is in a funk. No one can predict with any certainty when activity will return to normal or, indeed, know what the new normal will look like. That said, Continue Reading about M&A: Three hurdles and triggers

Originally seen HERE.Travel continues to move in a positive trend, according to the Mews Data Snap, a real-time measure of hospitality’s performance during the summer of 2023 (June, July, and August). The report compares this year’s data to summer 2022 to pinpoint how the hospitality sector is changing. Based on data from Mews partners worldwide, the Mews Data Snap consists of hospitality’s Continue Reading about Summer ADR and RevPAR saw positive movement

Tripadvisor released the next in its Seasonal Travel Index series, revealing data and trends about what to expect for travel this fall. Although the popular summer vacation season is coming to a close, travel doesn’t appear to be fading with it: 74 percent of U.S. travelers surveyed report they will travel this fall, well above the 61 percent planning to travel at the same time last year. Continue Reading about Tripadvisor: U.S. Travel to Remain Strong This Fall

Originally seen HERE. Despite rocky economic conditions and pressures within organizations to cut down on travel costs, business travel is making an unexpected and robust comeback. According to Capterra’s 2023 Travel Survey, 46% of business travelers report going on more trips than before the pandemic—on average, they travel six times a year, with trips lasting about three days. Increased Continue Reading about Survey: Business travel jumps 46% compared to pre-pandemic

Absolute Occupancy Best Since August 2019, but Trails That Year’s Peak Week By Nearly 5% Originally seen HERE. Weekly occupancy across the U.S. hotel industry reached its likely peak of the year — and the best since August 2019 — while outside of the U.S., the high mark keeps getting higher. CoStar data for the week ending July 22 shows U.S. weekly occupancy was 72.9%, the highest level Continue Reading about It Likely Doesn’t Get Any Better for 2023: US Weekly Hotel Occupancy Peaks at 73%

Originally seen HERE. Taylor Swift's Eras Tour, which consists of 131 concerts across 17 states and 5 continents, has caught the attention of the Federal Reserve because of its noticeable economic impact. The tour, which has attracted hundreds of thousands of Taylor Swift fans to cities across the US, helped boost hotel revenues considerably in Philadelphia. "Despite the slowing Continue Reading about Taylor Swift’s effect on the economy has caught the eye of the Fed

ORIGINALLY SEEN HERE. A panel of industry experts gathered to discuss how to rethink operations to maximize long-term asset valuation. Editor’s note: This roundtable was sponsored by Actabl, whose leaders participated in the discussion but had no influence on the final editorial content. If you agree or take issue with the notion that the hotel industry is “normalizing” as Hilton CEO Continue Reading about Develop a holistic approach to improving the P&L

Originally seen HERE.At the start of the year, the U.S. Bureau of Labor Statistics released a report showing the overall economy added 517,000 jobs. The leisure and hospitality sector accounted for about 25 percent of that, adding more jobs than any other sector. At the same time, the industry had 2 million open jobs despite returning to pre-pandemic employment levels, according to the U.S. Travel Continue Reading about Staffing shortages persist despite hiring efforts, record wages

Originally seen HERE. With a world on the verge of "normalization," demand persistence, supply weakness and strong employment have major U.S. CEOs seeing even more upside to the recovery. The hotel leadership community can say without much of a doubt that they have proven many prognosticators wrong. Despite high-profile predictions about the long-term impact of COVID on both leisure and Continue Reading about CEOs Provide Rosy Outlook at NYU Conference

Originally seen HERE. Earlier this year, Chatham Lodging Trust purchased this 132-room Residence Inn hotel in Austin, Texas. With the state's economy fully reopened and the hotel's proximity to The Domain mixed-use development, there are some external factors working to boost occupancy. By David Vincent, investment products specialist, Cadre Asset selection in the hospitality Continue Reading about Select Assets Can Present Strong Opportunities for Hotel Investors

Originally seen HERE. It appears that the United States is emerging from the worst of the pandemic with a substantial portion of the population—including those whose leisure and livelihoods impact the hospitality industry—vaccinated and longing to get back to business and travel for pleasure. According to development executives interviewed by LODGING, some of the painful lessons Continue Reading about Post-Pandemic Developments: Building Back Better in the Face of Predictable and Unpredictable Fallout

Originally seen HERE. Throughout 2020 and 2021, the extended-stay segment of the hotel industry has proved to be both pandemic and recession-proof. According to a report from the Highland Group, overall extended-stay hotel demand rose 8.6 percent in Q1 of 2021, while overall U.S. hotel demand decreased 11.9 percent. Extended-stay occupancy has been lower in 2021 than any first quarter Continue Reading about Extended-stay leverages strengths for continued staying power

Originally seen HERE. Merck made a formal request for EUA approval from the FDA Monday for its COVID pill treatment, known as 'molnupiravir'. Merck MRK said Monday it has submitted a formal application to the Food & Drug Administration for emergency approval of its oral COVID treatment.  Merck said it's seeking Emergency Use Authorization for the pill, known as Continue Reading about Merck Applies For Emergency FDA Approval Of COVID Pill Treatment

Originally seen HERE. Canadian and Mexican Borders Slated To Welcome Travelers on Nov. 8 Hoteliers in U.S. markets that have traditionally been heavily reliant on land travel from Canada and Mexico are excited about plans to reopen the borders of those countries to tourists, but they still believe it's too early to say just how significant the resulting demand will be. President Continue Reading about US Hoteliers Optimistic as Borders Reopen for Non-Essential Travel

Originally seen HERE. Optimistic signs of return and tangible recovery in the business travel sector could be seen over the past month. In the latest poll from The Global Business Travel Association (GBTA), half (52%) of industry respondents reported more optimism compared to September. October also saw an increase to 66% of those polled who said their companies are allowing Continue Reading about GBTA: New international border openings set to accelerate business travel