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India Projected to Lead Asia Pacific, Excluding China, in New Hotel Openings Through 2026
Lodging Econometrics | August 12, 2024
August 12, 2024 – PORTSMOUTH, NH In the Q2 2024 Asia Pacific, excluding China (APEC), Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the total pipeline in APEC has hit a record 2,056 projects with 406,118 rooms, marking a 6% increase in projects and a 1% rise in rooms year-over-year (YOY). Currently, 864 projects with 199,784 rooms are under construction in the APEC region. Projects scheduled to start construction in the next 12 months have risen to 358 with 65,853 rooms, up 23% by projects and rooms YOY. Projects and rooms in the early planning stage have soared to a record-high 834 projects with 140,481 roo
Hospitality Financial Leadership The Number 1 Financial Mistake Hoteliers Make
David Lund | August 12, 2024
Now that’s a big statement to put out there, but I’m very confident that I’m pretty close to 100% correct with my observations. The reason why I’m so sure is that I know most hoteliers are not financial people and they are oblivious to the issue I am going to explain. On top of that – I see this all the time. It’s also pretty clear that most hoteliers don’t have an accounting background and knowing this fact prompts me to write this piece and hopefully clear up the picture for others. The catalyst for my article is the many discussions I've had with my clients over the years around this topic. Here is the
Hospitality Asset Managers Association (HAMA) Opens 2024 Student Case Competition
HAMA | August 12, 2024
More than 40 Undergraduate and Graduate-Level Programs Invited to Participate NEWTON, Mass., Aug. 12, 2024—Officials of the Hospitality Asset Managers Association (“HAMA”) today announced that it has now accepting submissions for the 19th Annual HAMA Student Case Competition. Participating students from more than 40 undergraduate and graduate programs nationwide are given a return on investment scenario to analyze and formulate a recommendation to improve the business. This year, HAMA has partnered with HotStats for benchmarking data and LARC for a market forecast of Boston. These industry leading firms have provided critical rep
How Much Should a Hotel Website Cost?
Lodging Interactive | August 12, 2024
Lodging Interactive offers a SaaS model where a hotel pays a nominal fee upfront and continues with monthly payments for the term of the contract, after which the website is fully owned by the property. Thanks to website and hosting technology advancements over the past 15 years, spending tens of thousands of dollars to build a high-converting hotel website is no longer necessary. This is important for hotel marketers to understand, as they typically allocate less than 5% of their annual budget to marketing. “Independent hotels typically allocate about 4-5% of their total revenue to their overall marketing budget. Within this budget,
InterContinental Buckhead Atlanta Appoints Kurt Schwan as Director of Sales and Marketing
InterContinental Buckhead Atlanta | August 8, 2024
The Award-Winning Buckhead Hotel Welcomes Atlanta Hospitality Sales Leader Kurt Schwan ATLANTA, GA. (August 8, 2024) – Intercontinental Buckhead Atlanta is proud to announce the appointment of Kurt Schwan to Director of Sales & Marketing. Schwan is a seasoned hospitality veteran with twenty years of experience within the Atlanta, Georgia market working for notable luxury, convention and lifestyle brands such as Hilton Hotels & Resorts and various brands under the Marriott International umbrella. Kurt joined InterContinental Buckhead Atlanta in this leadership role April 29. "Today, we are thrilled to announce the appointment of o
Corporate Travel Industry Must Embrace Emerging Technology to Remain Competitive and Accelerate Growth According to New Research From GBTA and Cvent
The Global Business Travel Association | August 8, 2024
Report outlines the importance of technology in the business travel industry as a disruptor and enabler with artificial intelligence and blockchain at the top of the emerging technology list The time for technology to transform, disrupt and accelerate business travel growth is here – according to a new study, “The Future is Now: Technological Transformation in Corporate Travel,” published today by the Global Business Association GBTA, the world’s premier business travel and meetings trade organization, and made possible by Cvent, an industry-leading meetings, events, and hospitality technology provider. Based on a survey of bus
Four Seasons Hotel Tokyo at Otemachi Welcomes Uday Rao as Regional Vice President and General Manager
Four Seasons | August 8, 2024
In the vibrant heart of Tokyo, where tradition meets modernity, Four Seasons Hotel Tokyo at Otemachi announces a new chapter in its storied legacy with the appointment of Uday Rao as Regional Vice President and General Manager. Rao, a seasoned leader whose journey with Four Seasons began more than three decades ago, now returns to a country that has always held a special place in his heart. Uday’s role is multifaceted and expansive. From his base at Four Seasons Hotel Tokyo at Otemachi, he will oversee operations across Japan, including the iconic properties in Marunouchi and Kyoto, as well as the new Four Seasons in Osaka. "My job i
STR, TE Maintain 2024-25 U.S. Hotel Forecast
STR | August 8, 2024
NASHVILLE – STR and Tourism Economics made slight adjustments to the 2024-25 U.S. hotel forecast just released at the 16th Annual Hotel Data Conference. For 2024, projected gains in average daily rate (ADR) were downgraded 0.1 percentage points, while revenue per available room (RevPAR) was held steady at +2.0% year over year. Occupancy for the year was upgraded 0.2 ppts, after the previous forecast projected a year-over-year decline in the metric. For 2025, the occupancy growth projection was also lifted (+0.2ppts), while the forecast for ADR and RevPAR increases were kept at +2.0% and +2.6%, respectively. “Midscale and Eco