MGM Resorts International (NYSE: MGM) today announced it has closed on the sale of the operations of Gold Strike Tunica to CNE Gaming Holdings, L.L.C., a subsidiary of Cherokee Nation Businesses, for $450 million in cash. Source: hotelnewsresource.com … [Read more...]
Hyatt Reports Fourth Quarter and Full Year 2022 Results
Record Cash Flow from Operations of $674M; Net Rooms Growth of 6.7% Exceeds Expectations Source: hotelnewsresource.com … [Read more...]
U.S. Hotel Occupancy for the Week Ending February 11th at 57.8% – Down -8.7% from 2019
U.S. hotel performance increased from the previous week, according to STR‘s latest data through 11 February. Source: hotelnewsresource.com … [Read more...]
Sendero Hotel Opens in Costa Rica
Sendero - Spanish for a short path - is named for the less than a two-minute walk from the hotel's lobby through the jungle to the sands of Playa Guiones, the five-mile stretch of preserved beaches and world-famous surf spot. Source: hotelnewsresource.com … [Read more...]
AI Is Here to Work with Your Employees, Not Replace Them – By John Smallwood, President Travel Outlook
Why Hotels Are Now Adopting Zero-Labor Solutions Source: hotelnewsresource.com … [Read more...]
Paris Leads the Way in Travel and Tourism Recovery
In 2022, cities around the world began their true rebound from the COVID-19 pandemic and that recovery was most visible in five popular European urban centers.With travel restrictions gradually being lifted last year and demand for international travel returning, leading cities around the world reported a significant uptick in travel and tourism GDP, according to the latest Cities Economic Impact … [Read more...]
LHA unveils Hotel & Entrepreneurship Investment Report
The Latino Hotel Association released the 2023 inaugural Latino Hotel and Entrepreneurship Investment (LHEI) Report showcasing data and research detailing Hispanic entrepreneurship, economic and population growth, and specific opportunities and barriers to Latino business ownership within and outside the hospitality industry. The report advocates for specific policy needs necessary for Latinos to … [Read more...]
STR: Labor-Related Issues and Energy Costs Are Top Hotel Industry Challenges
HENDERSONVILLE, Tennessee—Labor-related issues and energy/utility costs are among the top challenges on the mind of global hotel and travel industry professionals, while leisure demand and increased guest spending are seen as the biggest strengths, according to a new survey from STR. The Hospitality Industry Sentiment survey is STR’s first longitudinal study of hotel and travel industry … [Read more...]
HEI adds Saranac Waterfront Lodge to portfolio
HEI Hotels & Resorts has added the 93-room Saranac Waterfront Lodge in Saranac Lake, NY, bringing its portfolio of third-party managed hotels to 101. “A beloved local destination, the Saranac Waterfront Lodge has a wonderful reputation we look forward to expanding upon with both locals and visitors,” said Rachel Moniz, principal/COO, HEI. “With an incredible location in the heart of the … [Read more...]
Hyatt reports ’22 RevPAR growth of 60.2% YOY
Hyatt Hotels Corporation reported net income of $294 million in the fourth quarter of 2022 and $455 million for the full year. Comparable systemwide RevPAR increased 34.8% in the fourth quarter and 60.2% for the full year of 2022 year-over-year. “Our results in the fourth quarter mark the completion of a truly transformative year,” said Mark S. Hoplamazian, president/CEO, Hyatt. … [Read more...]
Survey from STR Reveals Top Hospitality Industry Challenges and Strengths
Labor-related issues and energy/utility costs are among the top challenges on the mind of global hotel and travel industry professionals, while leisure demand and increased guest spending are seen as the biggest strengths, according to a new survey from STR. Source: hotelnewsresource.com … [Read more...]
EU Blue Cards: Are you eligible for this work permit and how can you apply?
If you are a non-EU citizen looking to relocate to a country in the European Union, an EU Blue Card could help the transition.The Blue Card scheme is a lesser-known option when it comes to moving abroad for work.The benefits vary between countries, but it essentially works as a residence and work permit.Here’s what you need to know about whether you are eligible for the card and how to apply.What … [Read more...]
JLL: U.S. hotel sales kick-off 2023 with a bang
Despite a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets, according to JLL Hotels & Hospitality Group. A recent example of these transactions includes the sale of the Diplomat Beach Resort in Hollywood, FL, which was the third-largest … [Read more...]
JLL: U.S. hotel sales kick-off 2023 with record-breaking pricing in growing markets
Despite a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets, according to JLL Hotels & Hospitality Group. A recent example of these transactions includes the sale of the Diplomat Beach Resort in Hollywood, FL, which was the third-largest … [Read more...]
Dual-branded Element/Le Méridien opens in Salt Lake City
Element Hotels and Le Méridien Hotels & Resorts, together with The Ritchie Group and Garn Development, have opened Element Salt Lake City Downtown and Le Méridien Salt Lake City Downtown. The dual-branded property features Element’s 100th global opening and its first in Salt Lake City. It also marks the first Le Méridien in Utah. This first-ever combination of the two brands is managed by Azul … [Read more...]
JLL: Hotel Investors Start 2023 With Record Sales
CHICAGO—Despite a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for assets in growing and desirable markets, according to JLL’s Hotels & Hospitality Group. A recent example of these transactions includes the sale of the Diplomat Beach Resort in Hollywood, Florida, which was the third-largest … [Read more...]
Wyndham reports strong Q4 and ’22 results
Wyndham Hotels & Resorts reported strong results for the fourth quarter and end of the year for 2022, including a 12% year-over-year pipeline increase. Highlights include: Global RevPAR grew 15% compared to fourth quarter 2021 in constant currency, a 300-basis point improvement sequentially, representing 116% of 2019 levels; full-year global RevPAR grew 20% year-over-year in constant … [Read more...]
Hoteliers Respond to Guest Demand for Everyday Wellness by Introducing Healthier and Sleep-Friendly Grab-and-Go Snack Options
Nightfood, Inc. believes the hotel industry has an immediate opportunity to support wellness and better sleep by making sleep-friendly snacks available in lobby marketplaces to satisfy guests’ nighttime cravings. Source: hotelnewsresource.com … [Read more...]
Hotel renovation and conversion activity soars in the U.S.
Hotel renovation and conversion pipeline activity, at the end of the fourth quarter of 2022, is at the highest totals Lodging Econometrics (LE) has ever recorded. Renovations and conversions account for more projects and rooms than those that are currently in the under construction stage of the new construction pipeline. At the end of Q4 ’22, there were a total of 1,008 projects/135,492 rooms … [Read more...]
Six Senses pours efforts into US wine country hotel
The IHG Hotels & Resorts brand will be taking over the former Aetna Springs Resort, named after the natural thermal springs discovered in the 1870s, and which thrived until the 1970s as a natural spa destination. Heritage restoration Slated to open in 2026, Six Senses Napa Valley will welcome guests to the western edge of a vast 3,000-acre estate. The existing structures will be sensitively … [Read more...]