This week in Hospitality & Tourism #14 2022
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Great bits of information about hotel valuations, operations, and more.
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Top Hospitality Industry Trends in 2022
Wellness is here to stay. Personalization and Automation is on everyone's mind.
- Total guest experience.
- Personalization.
- Automation.
- Re-imagining hotel spaces.
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Key findings from a new survey reveal that 84% of business travelers expect to take at least one trip to attend conferences, conventions or trade shows in the next six months. The Quarterly Business Travel Tracker also revealed that, while less than one in 10 U.S. business travelers are uncertain if they would travel in the next six months, the top reason for uncertainty was that meetings and events are not occurring. Corporate policies restricting business travel was the second-highest reason for uncertainty.
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Business travel is on the mend
Latest recovery report from STR indicated that central business districts reached 68% occupancy, highest since the pandemic. Weekday airline passenger data indicated that the business travel was picking up in the previous weeks.
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STR: U.S. hotel results for week ending 2 April
Reflecting continued seasonal slowing in spring break travel, U.S. hotel performance fell slightly from the previous week, according to STR‘s latest data through 2 April.
Among the Top 25 Markets, Phoenix saw the only occupancy increase over 2019 (+0.2% to 79.9%).
27 March-2 April 2022 (percentage change from comparable week in 2019):
- Occupancy: 64.1% (-6.4%)
- Average daily rate (ADR): US$145.74 (+11.7%)
- Revenue per available room (RevPAR): US$93.48 (+4.5%)
