According to the Q3 2022 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the quarter, the hotel construction pipeline in the region stands at 535 projects/134,897 rooms.
With evolving consumer behavior and preferences, spas can no longer solely focus on traditional beauty treatments and luxurious massages that promote relaxation. Hotel chains and owners must rewrite the narrative around spa services. Read on to know more.
This report looks at the evolution of UK inflation over the last 50 years and discusses how ADR in London hotels has responded.
An estimated 700 million tourists travelled internationally between January and September, more than double (+133%) the number recorded for the same period in 2021. This equates to 63% of 2019 levels and puts the sector on course to reach 65% of its pre-pandemic levels this year.
Hotel companies are paying more and offering enhanced perks to attract employees back to the industry and creep closer to ideal staffing levels.
While international travel recovery worldwide in Q4 tracks 30% below 2019 levels, the European continent overperforms the world average at -24%. This also represents an acceleration compared with the -30% registered in Europe in Q3.
Following seasonal patterns, Canadas hotel performance fell from the September but average daily rate (ADR) and revenue per available room (RevPAR) were higher than the pre-pandemic comparables, according to STRs October 2022 data.
U.S. hotel performance came in lower than the previous week and showed improved occupancy and revenue per available room (RevPAR) comparisons to 2019, according to STRs latest data through 19 November.
Among those Top 25 Markets, New York City continued its firm hold as autumns top occupancy market at a level of 84.7% for the four weeks ending 12 November – a small gain from the previous four weeks. In second position, a normal seasonal shift in demand led to Phoenixs average occupancy surging 6.0 percentage points to 77.9%.
Caution persists as macroeconomic factors challenge decision makers