Industry News
NewcrestImage closes sale on 27 hotels to Summit Hotel Properties
NEWCRESTIMAGE HAS COMPLETED its sale of 27 hotels to Summit Hotel Properties it first announced in November. The Dallas-based company, led by Mehul Patel...
Report: Leisure and hospitality added 53,000 jobs in December
THE LEISURE AND hospitality sector saw some job growth in December, according to the Bureau of Labor Statistics’ December employment report. Not enough, however,...
TRENDS & ISSUES
STR: U.S. hotel performance down post holidays
AS THE HOLIDAY season dwindles into the past, so did U.S. hotel performance, according to STR. Occupancy dropped, dragging ADR and RevPAR with it.
Occupancy...
STR: Hotel construction in December down 61K rooms from peak
HOTEL CONSTRUCTION DROPPED in December, falling 61,000 rooms below the peak reached in early 2020, according to STR. The number of projects under construction...
STR: Super Bowl to boost L.A. ADR and RevPAR
IN ANOTHER SIGN of recovery from the COVID-19 pandemic, this year’s Super Bowl is expected to bring increases in hotel business to host city...
Highland Group: November recovery indices exceeded 100 percent
THE COLLECTIVE RECOVERY indices of U.S. extended-stay hotels exceeded 100 percent in November for the first time in 2021, according to hotel investment advisors...
STR: ADR set record in the last week of December
U.S. HOTELS REACHED record-breaking ADR level during the last week of December, particularly by luxury resorts, according to STR. STR’s top 25 markets also...
Baird/STR Hotel stock index rose 12.7 percent in December
THE BAIRD/STR Hotel Stock Index rose 12.7 percent in December over the previous month. It was up 25.6 percent for 2021 as a whole.
The...
