In Part II of this article, I discuss the importance of diving into local market comparable sales when facing an independent motel valuation. Equally important is knowing the markets prevalent RRM and sales price per key.
Asia/Pacific hotel occupancy rose 0.4% to 68.5%, ADR grew 1.1% to $96.53 and RevPAR increased 1.5% to $66.15.
European hotel occupancy rose 1.4% to 74.9% while ADR increased 2.9% to 116.38 ($102.17) and RevPAR grew 4.3% to 87.22 ($76.57).
Hands down one of the best experiences I ever had in my career was being part of the team that reviewed the financial performance of the hotels in my region. The reason I enjoyed it so much, and have such great memories, is because I learned so much at each one and not only did I learn about the business of hotels, I had a lesson in people.
Deloitte study reveals that 85 percent of professionals want to hear 'thank you' in day-to-day interactions.
The Sixth Edition of the Asia-Pacific Hotel Operator Guide provides owners and investors with a unique reference about the presence and scale of 50 international operators with 244 brands, across 1,008 markets and 5,742 properties in the Asia-Pacific Region.
In May, the U.S. hotel industry saw occupancy increase 0.9% to 68.7%, ADR increase 1.6% to $132.43 and RevPAR rise 2.5% to $91.01.
The U.S. hotel industry reported occupancy dipped 0.6% to 73.7% during the week of 9-15 June, while ADR increased 1.9% to $134.59 and RevPAR rose 1.3% to $99.22.
Canadian hotel occupancy dropped 1.8% to 73.9% during the week of 9-15 June, and despite a 1.2% ADR increase to 179.28 Canadian dollars ($135.98), RevPAR dipped 0.7% to CA$132.50 ($100.50).
Tax Research Says 'Voluntary' Tax Agreements with Short-Term Rental Platforms, Like Airbnb, Lose More Public Revenue Than They Gain