Ennismore Moves to Market All-Inclusives Amid International Push
Skift Take
- Corporate travel data company TRIPBAM reports a 25% increase in booking volumes for US travel in mid-September compared to 2022, with expectations of a return to pre-Covid levels by the end of the quarter and surpassing them in 2024, albeit slower in tech-heavy San Francisco.
- The third edition of the Hospitality Industry Sentiment survey shows a shift in expectations, with group demand and major events on the rise, while labor costs and supply challenges remain top concerns for the hotel industry.
- Various hotels announce renovations and openings, including Le Meridien Tampa, Springhill Suites Truckee, Hotel Dena Pasadena, Omni Charlottesville Hotel, and a new hotel project in East Austin. Nashville International Airport opens a new international arrivals facility, and citizenM appoints Rani Gharbie to lead its Americas expansion. Ennismore aims to change the reputation of all-inclusive resorts, and LEGOLAND Windsor Resort announces a LEGO Woodland-themed holiday village. London & Regional is close to acquiring the Kempinski Hotel Bahia in Estepona, Spain.
The DJIA fell 382 points while Nasdaq was down 208, the S&P 500 fell 64 points and the 10-year treasury yield was up another .02 to 4.56%. Lodging stocks were lower. AHT was down -6% to a new 52 week low.
Truist held a webinar with corporate travel data company TRIPBAM. They are solely focused on individual/business transient travel. The main takeaways include that booking volumes in mid-September are up 25% in the US for the trailing 30 days compared to the same period in 2022. TRIPBAM anticipates the gap between current volumes and pre-Covid levels will close by the end of this quarter and will be surpassed in 2024 if the economy holds true to form. Corporate room rates are modestly higher compared to the same period last year and pre-Covid. The past 30 days it was $257 vs. $248 for the same period in 2022. TRIPBAM is expecting large tech companies to further increase travel spend but will likely still lag pre-Covid levels next year. Not surp
