The most popular cruise destinations among Brits, with Norway hitting top spot
New research has discovered the most popular cruise destinations among Brits, with Norway taking the top spot…
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Leisure and hospitality hiring slows after eye-popping growth
Change in leisure and hospitality payrolls - There's one sector where hiring moderation is clear: leisure and hospitality.
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Global Hotel Industry Faces Mixed Fortunes Amid Rising Costs and Varied Demand
The global hotel industry is experiencing mixed fortunes as it navigates the post-pandemic landscape…
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Marriott lifts annual profit forecast on China rebound
Aug 1 (Reuters) - Marriott International (MAR.O) raised its full-year profit forecast on Tuesday, as the U.S. hotel operator bets on higher room rates and rebounding demand in China to boost earnings.
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US Hotel Construction Pipeline Grows by 7% YoY, Reaching Near Peak Levels: Q2 2023 Report
Despite prevailing economic challenges, the United States' hotel construction pipeline saw robust growth in Q2 2023, with a 7% year-over-year (YOY) increase in projects and a 6% rise in rooms…
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Corporate procurement leaders cite challenging travel market dynamics
COLOGNE, GERMANY & ALEXANDRIA, VA – With flights to key corporate destinations mostly full and hotel rates stubbornly high, corporate travel and procurement leaders are faced with a uniquely challenging environment as negotiations with suppliers for…
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HVS Report - U.S. Hotel Development Cost Survey 2023 - By Luigi Major
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source provides the basis for our illustrated total development costs per room/per product type…
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WYD: Hotels in Lisbon with a high occupancy rate
According to ECO, that in regard to WYD the hotel sector meets "expectations", namely with regard to hotels up to 4 stars, and says that prices are "slightly higher" compared to the same period last year…
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China’s Domestic Tourism to Hit 90% of Pre-Covid Levels in 2023
(Bloomberg) — China’s domestic tourism market is expected to rebound to 90% of pre-pandemic levels this year thanks to surging demand since Covid-related travel restrictions were lifted in late 2022.
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Boutique hotels topple bigger rivals as travellers seek more than a bed
Boutique hotels are applying the blowtorch to the traditional big-name brands as travellers seek out more experienced-based holidays in smaller, more intimate properties.
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Wyndham global RevPAR up 7% in Q2
Wyndham Hotels & Resorts' global system grew 4 percent in Q2 2023, reflecting 1 percent growth in the U.S. and 9 percent growth internationally. (Wyndham Hotels & Resorts)
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Bookings for last-minute holidays in Ireland jump
Bookings for last-minute holidays in Ireland have jumped due to soaring temperatures in Greece, Italy and Spain, and wildfires in popular destinations such as Rhodes.
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Luxury Pet Friendly Hotel Market Is Booming Worldwide : Hyatt, Rosewood, the Langham
According to HTF MI, the Global Luxury Pet Friendly Hotel Market is expected to see a growth rate of 12.5% and may see a market size of USD 20.46 Billion by 2028, currently pegged at USD 2.61 Billion.
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U.S. hotel commentary – June 2023
June 2023 Top-Line Metrics (percentage change from June 2022)
Occupancy: 69.7% (-0.4%)
Average daily rate (ADR): US$158.40 (+2.3%)
Revenue per available room (RevPAR): US$110.33 (+1.9%)
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