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STR: Canada Hotel Results for Week Ending 29 August
STR | September 3, 2020
HENDERSONVILLE, Tennessee—STR data for 23-29 August 2020 showed lower performance from prior weeks for Canada’s hotel industry. In comparison with the week of 25-31 August 2019, the industry reported the following: Occupancy: -45.2% to 42.1% Average daily rate (ADR): -25.9% to CAD128.83 Revenue per available room (RevPAR): -59.4% to CAD54.26 Two provinces reached a 50% occupancy level: Prince Edward Island (55.8%) and British Columbia (53.5%). Ottawa (43.4%) was the only major market at or above the 40% mark. The lowest occupancy among provinces was reported in Quebec (32.4%). At the market level, the lowest occupan
Why You Should Not Invest in Metasearch Right Now
Stephanie Smith | September 3, 2020
By Stephanie Smith Buckle in kids, this is not a popular opinion. If you had asked me my opinions about MetaSearch pre-Covid, my response would be different. If you need a tutorial on what is MetaSearch, check out this article from Milestone. But, today, cash is tight. Budgets are being squeezed. While I still believe in “Book Direct” and the long time value of the customer, the customer has changed. Your loyal points fanatic is not traveling. Your corporate BT is not traveling. Who is traveling? Your local customer within a 1 to 2 hour radius of your hotel. Even if you leverage metasearch to get them to book direct on
STR: U.S. Hotel Results for Week Ending 29 August
STR | September 3, 2020
HENDERSONVILLE, Tennessee—U.S. hotel occupancy decreased slightly for the second consecutive week, according to the latest data from STR. 23-29 August 2020 (percentage change from comparable week in 2019): Occupancy: 48.2% (-27.7%) Average daily rate (ADR): US$98.39 (-23.2%) Revenue per available room (RevPAR): US$47.38 (-44.5%) The industry sold 237,000 fewer room nights than the previous week, which represented a demand decrease of 1.3%. Week-over-week demand improvements were a constant since mid-April, but as summer ends and leisure travel fades, hotel performance gains have flattened. Aggregate data for the Top
Margaritaville Resort Palm Springs Appoints Matt Huss as General Manager and Jeff Ouradnik as Director of Sales & Marketing
Margaritaville | September 3, 2020
PALM SPRINGS, CALF. (September 3, 2020) – Margaritaville and Davidson Hotels & Resortstoday announced the appointment of Matt Huss as General Manager and Jeff Ouradnik as Director of Sales and Marketing at Margaritaville Resort Palm Springs in Palm Springs, California. The resort is slated to open this fall following the renovation and conversion of Riviera Palm Springs, and will feature 398-rooms, multiple Margaritaville-inspired dining concepts, a signature St. Somewhere Spa, the city's largest resort spa, all-new family-oriented programming, and more than 40,000 square feet of combined wedding, meeting, and event space. The property
Fitch Ratings Maintains the Rating Watch Negative for U.S. Single-Borrower Hotel CMBS
Fitch Ratings | September 3, 2020
"Unprecedented" Revenue Declines Prompt Continued Negative Watch for Hotel CMBS On Aug. 26, Fitch Ratings maintained the Rating Watch Negative (RWN) on all Fitch-rated U.S. CMBS single-borrower hotel transactions. Below, we outline the market and asset level factors Fitch will continue to monitor in determining ratings actions that would lead to a revision of the RWN. We also outline the anticipated timelines. There will be an unprecedented decline in hotel revenues in 2020, thus cash flow analysis utilizing 2020 numbers would be an unreliable indicator of hotel value. Fitch is forecasting that trailing twelve-month (TTM) revenue per av
IHG Bringing the First Hotel Indigo to Indonesia’s Special Capital Region of Jakarta
Hotel Indigo | September 3, 2020
IHG® (InterContinental Hotels Group), one of the world’s largest hotel companies, is set to welcome the world’s most neighbourhood-centric brand to Indonesia’s Special Capital Region of Jakarta with the signing of Hotel Indigo Jakarta Pantai Indah Kapuk. Partnering IHG in this landmark project are PT Kapuk Naga Indah, the land and building owner and a subsidiary of property developer Agung Sedayu Group (ASG) and Salim Group. The signing marks the beginning of a strategic partnership between Agung Sedayu Group and InterContinental Hotels Group as one of their preferred partners for hotel projects in Indonesia Serena Lim, VP Developm
AAM 15 Management Opens Residence Inn by Marriott Manchester Downtown, New Hampshire
AAM 15 Management, LLC | September 3, 2020
BURLINGTON, Mass., Sept. 3, 2020 -- AAM 15 Management, LLC announced the opening of its 10th hotel located in the central business district of Manchester, New Hampshire. Manchester, located 54 miles north of Boston, is the gateway to Northern New England and allows for easy access to ski resorts, NASCAR races, beaches, state parks, camping, mountains and dozens of other attractions. Just outside the windows of the Hotel is the Southern New Hampshire University Arena, which has become the centerpiece of Downtown Manchester. The venue can seat 12,000 patrons for concerts, and roughly 10,000 for sporting events. Also, within walking dist
Oetker Collection Appoints Simon Neggers as Senior Vice President Sales, Marketing and Communications
Oetker Collection | September 3, 2020
September 1, 2020 - Oetker Collection is pleased to announce that Mr. Simon Neggers will join its executive leadership team as Senior Vice President of Sales, Marketing and Communications as of September 7th, 2020. In his new role, Mr. Neggers will oversee the global strategy for Oetker Collection’s exclusive portfolio of Masterpiece Hotels and Estates. He will be based in the Parisian office of the company. Dr. Timo Gruenert, CEO, Oetker Collection, commented: “We are really excited to welcome Simon Neggers to the senior leadership team of Oetker Collection. Simon has a very strong background in luxury communications, public relations