STR reported U.S. lodging data for the week ending August 31, showing a 3.6% rise in RevPAR, with ADR up 1.6% and occupancy up 1.9%. Group RevPAR increased 7.2% on a 7.1% occupancy boost.
Luxury and upper upscale hotel segments show strong guest satisfaction, while limited-service segments have declined, with The Luxury Collection, Margaritaville Hotels & Resorts, and others ranking highest in their categories.
Alongside a relatively strong projected occupancy rate this summer, one of Macau’s most notable hotel failures has reopened its doors despite bankruptcy.
The Competition Commission of India approved ITC Ltd's demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to shareholders.
The Camino Real hotel chain plans to spend three billion pesos on remodeling and technology upgrades at its properties across several cities in Mexico.
Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October.
Major hospitality companies reported mixed trends at the Morgan Stanley Global Consumer & Retail Conference, with lodging demand remaining positive but margins affected by high wages.
Several companies, including Crescent Hotels & Resorts and HHM Hotels, announced the addition of new properties to their portfolios.
Evermore Orlando Resort is set to open a unique beach paradise, and other hotels are undergoing significant renovations and refurbishments, indicating a continued focus on luxury and expansion in the hospitality industry.