Skip to content

Search

Latest Stories

STR: Memorial Day pulls U.S. hotel performance down in week of May 27

New York City reported the highest occupancy level at 85.7 percent

STR: Memorial Day pulls U.S. hotel performance down in week of May 27

The Memorial Day calendar shift pulled U.S. hotel performance down in the last week of May, compared to the week before, as expected, according to STR. Meanwhile, the year-over-year comparisons have improved, STR said.

Occupancy was 66.8 percent for the week ending May 27, down from 67.5 percent the week before and increased 0.6 percent over the comparable week in 2022. ADR stood at $156.63 for the week, down from $158.53 the previous week, and up 2.2 percent from the last year. RevPAR reached $104.62 during the week, dipped from $106.98 the week before and increased 2.9 percent against the same period in 2022.


Among STR’s top 25 markets for the week, Washington, D.C., registered the highest year-over-year occupancy lift, up 10.5 percent to 76.2 percent, over 2022.

Of note, New York City reported the highest occupancy level at 85.7 percent, helped by Taylor Swift’s Eras Tour.

Detroit posted the highest ADR lift, jumped 16.9 percent to $137.08) and RevPAR, soared 29 percent to $91.54, against 2022.

The steepest RevPAR declines were seen in Miami, down 10 percent to $143.51) and Dallas, declined 7 to $83.35.

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