Radisson Blu

North America

U.S. Hotel Trends Point to a Holiday Season Like 2019

Pebblebrook Hotel Trust cut their guidance for 4Q , citing a demand impact from Hurricane Nicole in November and weaker business/leisure demand at the end of that month. STR said US hotel RevPAR the week ended 12/17 was up 12% year over year while up 35% over the week in 2019 . U.S. hotel occupancy for Christmas and New Years mirrors 2019 trends , with warm destinations proving popular according to Amadeus .

Western Australia Sees Surge of Singapore Visitors

Data from Tourism Western Australia shows Singapore is now the number one source of foreign visitors, with Singaporeans accounting for 24% of all international arrivals. The Ascott Ltd. has launched Citadines Connect in Lebuh Noordin, Georgetown, Penang , a hotel situated in a two-story pre-war building. Mohegan’s Inspire Entertainment Resort , under development in Incheon, South Korea , signed a management agreement with Hanwha Hotel & Resorts for the operation of five-star hotel towers in the property.
North America

Xenia Projected as Top Performer in 2023

Baird picked the hotel real-estate investment trust Xenia Hotels & Resorts as their Best Idea for 2023. The Wall Street Journal published a very positive article on Hilton , including an interview with CEO Chris Nassetta . Pyramid Global Hospitality closed the acquisition of the operating division of Provenance Hotels .
North America

U.S. Hotel RevPar Last Week Down YoY, Improved Over 2019

For a change, the markets went up when Fed Chief Powell spoke. They interpreted his commentary and body language as blinking, that the bulk of the interest rate hikes are over. STR said  US hotel RevPAR  the week ended November 26 was  down -0.1% year over year . Cambria Hotels  announced the  opening of its six-story, 121-room location in downtown Minneapolis  to complete the newly constructed dual-hotel building.
North America

Early September RevPAR up 30% YoY

Equity investors were once again willing to give the Federal Reserve Board the benefit of the doubt on the 0.75% rate hike today but then Fed Chief Powell held a press conference and it got ugly pretty quickly. STR reported US lodging data for the week ended 9/17. US hotel RevPAR was up 30.6% year over year. RevPAR was up 12.7% versus the same week in 2019. A group of hotel franchisees has filed a lawsuit against IHG Hotels and Resorts , claiming a cyber attack on its booking system earlier this month cost them millions of dollars in lost revenue, according to various news sources.