This week in Hospitality & Tourism #19 2022

To automate or not to automate?

Automation and AI for revenue management is the future of yield management in hospitality industry.

New York City Hotel Investment Activity Accelerates

The pace and volume of hotel transactions have picked up in New York as hotel operating fundamentals continue to improve across the city. In the first four months of 2022, hotel transactions totaling $1.2 billion were announced, though values are significantly below prior peaks for the same assets.

Inflation growth slows slightly, but full-service menu prices climb to record high

The Consumer Price Index increased 8.3% for the year ending in April, a slight dip from the prior month’s 40-year-high, though restaurant menu prices continued to climb, the U.S. Bureau of Labor Statistics, or BLS, reported Wednesday.

Grocery inflation continued to drive the food category increase, however. Consumer prices for food at home was up 10.8% for the year ending in April, while prices for food away from home grew 7.2%.

STR: U.S. hotel results for week ending 7 May

U.S. hotel occupancy declined from the previous week, while average daily rate (ADR) increased slightly, according to STR‘s latest data through 7 May.

1-7 May 2022 (percentage change from comparable week in 2019):

• Occupancy: 63.9% (-6.1%)
• Average daily rate (ADR): US$147.24 (+12.0%)
• Revenue per available room (RevPAR): US$94.10 (+5.1%)