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WTTC: 130,000 vacancies in Travel & Tourism threaten UK economic recovery

The World Travel & Tourism Council (WTTC) warns the Travel & Tourism sector’s recovery is at serious risk as nearly 130,000 jobs go unfilled across the UK. According to the global tourism body, the UK is expected to see a shortfall of 128,000 jobs, with one in 14 job openings expected to remain vacant. Restaurants […]

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STR: Riyadh hotels reported higher occupancy in June

Riyadh’s hotel industry reported higher occupancy than the month prior, but lower room rates, according to preliminary June 2022 data from STR. According to STR data: • The occupancy rate was: 56.5% • Average daily rate (ADR): SAR580.61 • Revenue per available room (RevPAR): SAR328.17 While ADR and RevPAR fell month over month, each of […]

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Mabrian: Summer tourism forecast – Balkans and south eastern Europe

Mabrian, the leading provider of data analysis and tourism intelligence globally, has analyzed the tourism outlook for this summer in the Balkans and south eastern Europe. The analysis reveals several trends regarding the pre-pandemic era and the recovery since last year. The analysis specifically looks at air capacity, taking the data from 2022 and comparing […]

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STR and Tourism Economics Forecast U.S. hotel demand and ADR will near full recovery in 2022

U.S. hotel demand as well as average daily rate (ADR) on a nominal basis will near full recovery in 2022, according to the upgraded forecast just released by STR and Tourism Economics at the 43rd Annual NYU International Hospitality Industry Investment Conference. Additionally, revenue per available room (RevPAR) on a nominal basis is projected to […]

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U.S. hotel profit reached 84% of 2019 level, labor rises slightly

Gross operating profit for U.S. hotels improved to 84% of the comparable 2019 level, according to STR‘s June 2021 monthly P&L data release. Labor costs also rose from the previous month and in comparison with 2019.          Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February […]

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Hotels Count the Cost of COVID-19 Pandemic and Look to Remodel Business to Rebuild Consumer Confidence

With much of Europe’s hotel sector still closed for business, the industry faces a huge challenge to rebuild consumer confidence once COVID-19 lockdown restrictions start to lift later this year. Providing hotel businesses survive financially – utilising a combination of rent and bank loan freezes, Government support, working with owners and furloughing staff – they […]

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Temporary suspension of operation of hotel GRANDE BRETAGNE and KING GEORGE hotel, due to corona virus

It is with great regret at this point of time, but with even greater optimism for the future, that Lampsa Hellenic Hotels SA  announces the temporary pause in operations due to the global Corona virus pandemic, of the Iconic Hotel Grande Bretagne and its sister hotel the historic King George.  The Hotel Grande Bretagne, the […]

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China hotel performance recovered quickly following SARS

Amid the current outbreak of coronavirus (COVID-19), STR analyzed historical data for China and found that the country’s hotel performance recovered quickly following the containment of SARS in 2003. Recovery around the current outbreak situation of 2020 could follow a similar timeline. “Significant market, economic and social changes over the past two decades render a […]

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GERMANY

STR: Europe hotel construction up 29.4% in January

STR’s hotel pipeline data for Europe showed 1,654 projects accounting for 210,075 rooms in construction as of the end of January 2020. This represented a 29.4% year-over-year increase in the number of rooms in the final phase of the development pipeline. A majority of the region’s rooms in construction are in three segments. Of those […]

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STR: Europe hotel performance for November 2019

Europe’s hotel industry reported positive results in the three key performance metrics during November 2019, according to data from STR. Euro constant currency, November 2019 vs. November 2018 Europe Occupancy: +1.5% to 72.2% Average daily rate (ADR): +1.9% to EUR106.71 Revenue per available room (RevPAR): +3.4% to EUR77.08 Market Focus, Local currency Baku, Azerbaijan Occupancy: +21.4% […]

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