Wyndham Hotels & Resorts reported a strong first quarter, with its global development pipeline climbing 8%. Riding on increased interest from owners, its development pipeline touched a record 243,000 rooms. There was growth in new openings, franchisee retention and net room growth across the globe for the 15th consecutive quarter. The Parsippany, N.J.-based lodging company […]
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Hotel revenues amounted to €10.6 billion in 2023, up 22.5% compared to 2022, when total turnover was €8.6 billion. The increases were higher in seasonal hotels and in 4 and 5 star hotels. These data are derived from a field survey of Institute Tourism Research and Forecast, that processed by INSETEP and are included in […]
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European hoteliers had been hoping the pickup in vaccination rates and progressive removal of health restrictions would boost demand this summer, as it did in 2020. Wish granted: hotel activity accelerated (+68.0% in RevPAR between July 1 and August 21 compared to 2020 marks), even though it remains well below pre-COVID standards (-31.8% compared to […]
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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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Accor accounts for the largest hotel room presence in the Central/South America region, followed by Marriott International, according to census data from STR. As part of the STR 500, the company will release a combined list of the continent’s 100 largest companies and brands during next week’s SAHIC Latin America Hotel Tourism & Investment Conference […]
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Overall, March brought positive results for European hotels, reporting a 0.9 point gain in occupancy rate to reach 66.3%. Combined with a 1.3% increase in average daily rate, Revenue per Available Room (RevPAR) improved by 2.4%. Change in performance is more pronounced in some segments: budget hotels posted the strongest growth in RevPAR (+3.5%), followed […]
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