Skip to content

Search

Latest Stories

CoStar: Thanksgiving shift slows YOY hotel performance

Tampa and Oahu saw the biggest performance gains among the top 25 markets

CoStar: Thanksgiving shift slows YOY hotel performance

THE SHIFT IN the Thanksgiving calendar led to lower year-over-year performance for the U.S. hotel industry in the fourth week of November, according to CoStar. Occupancy, RevPAR and ADR all declined compared to the prior week.

Tampa and Oahu saw the strongest performance improvements among the top 25 markets.


Occupancy dropped to 50 percent for the week ending Nov. 30, down from 59.7 percent the previous week and 7.7 percent lower year-over-year. ADR fell to $141.09, down from $150.49 the prior week and 3 percent lower than the same week last year. RevPAR decreased to $70.59 from $89.80, reflecting a 10.5 percent drop compared to the same period in 2023.

Among the top 25 markets, Tampa had the highest year-over-year occupancy increase, rising 13.2 percent to 69 percent, while RevPAR grew 22.6 percent to $106.16. Oahu reported the largest ADR increase, climbing 12.8 percent to $286.39.

Overall, 19 of the top 25 markets reported a decline in RevPAR, with Las Vegas experiencing the steepest drop, falling 56 percent to $86.03.

More for you

Olympic Wage ordinance 2028
Photo credit: Unite Here Local 11

Petition fails to stop L.A. hotels wage increase

Summary:

  • Failed petition clears way for Los Angeles “Olympic Wage” to reach $30 by 2028.
  • L.A. Alliance referendum fell 9,000 signatures short.
  • AAHOA calls ruling a setback for hotel owners.

A PETITION FOR a referendum on Los Angeles’s proposed “Olympic Wage” ordinance, requiring a $30 minimum wage for hospitality workers by the 2028 Olympic Games, lacked sufficient signatures, according to the Los Angeles County Registrar. The ordinance will take effect, raising hotel worker wages from the current $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.

Keep ReadingShow less
AHLA Foundation expands hospitality education

AHLA Foundation expands hospitality education

Summary:

  • AHLA Foundation is partnering with ICHRIE and ACPHA to support hospitality education.
  • The collaborations align academic programs with industry workforce needs.
  • It will provide data, faculty development, and student engagement opportunities.

THE AHLA FOUNDATION, International Council on Hotel, Restaurant and Institutional Education and the Accreditation Commission for Programs in Hospitality Administration work to expand education opportunities for students pursuing hospitality careers. The alliances aim to provide data, faculty development and student engagement opportunities.

Keep ReadingShow less
Hotel data challenges report highlighting AI and automation opportunities in hospitality

Survey: Data gaps hinder hotel growth

Summary:

  • Fragmented systems, poor integration limit hotels’ data access, according to a survey.
  • Most hotel professionals use data daily but struggle to access it for revenue and operations.
  • AI and automation could provide dynamic pricing, personalization and efficiency.

FRAGMENTED SYSTEMS, INACCURATE information and limited integration remain barriers to hotels seeking better data access to improve guest experiences and revenue, according to a newly released survey. Although most hotel professionals use data daily, the survey found 49 percent struggle to access what they need for revenue and operational decisions.

Keep ReadingShow less
Hyatt Way partnership

Hyatt taps Way for unified guest platform

Summary:

  • Hyatt partners with Way to unify guest experiences on one platform.
  • Members can earn and redeem points on experiences booked through Hyatt websites.
  • Way’s technology supports translation, payments and data insights for Hyatt.

HYATT HOTELS CORP. is working with Austin-based startup Way to consolidate ancillary services, loyalty experiences and on-property programming on one platform across its global portfolio. The collaboration integrates Way’s system into Hyatt.com, the World of Hyatt app, property websites and FIND Experiences to create a centralized booking platform.

Keep ReadingShow less
Report: CMBS delinquency rate hits 7.23 percent in July

Report: CMBS delinquency rate hits 7.23 percent in July

Summary:

  • U.S. CMBS delinquency rate rose 10 bps to 7.23 percent in July.
  • Multifamily was the only property type to increase, reaching 6.15 percent.
  • Office remained above 11 percent, while lodging and retail fell.

THE U.S. COMMERCIAL mortgage-backed securities delinquency rate rose for the fifth consecutive month in July, climbing 10 basis points to 7.23 percent, according to Trepp. The delinquent balance reached $43.3 billion, up from $42.3 billion in June.

Keep ReadingShow less