Page 10 - Upper Upscale News Today

As Spring Break travel volume dipped, the U.S. hotel industry saw weekly occupancy decrease 1.3 percentage points to 65.5% for the week of 20-26 March 2022. As compared with a year ago, average occupancy for the past two weeks combined was nearly eight percentage points higher, while the gap to 2019 was down to five percentage points. Average daily rate (ADR) also softened 1.5% week on week with the absolute level (US$149) the third highest in history. With lower occupancy and ADR, revenue per a...

U.S. hotel weekly occupancy slipped a bit in the most recent week of reporting (27 February-5 March 2022), falling to 61.2% from 62.2% the week prior. While all attention is focused on rising gas prices and the potential impact on hotel demand, this week’s decrease was due to a weaker Sunday as the previous Sunday benefited from the Presidents’ Day holiday. Excluding Sunday, occupancy for the remaining six days reached 63.2%, the highest six-day result in the country since mid-November. Aver...

The good news for the U.S. hotel industry continued as occupancy advanced to 62.2% during the week of 20-26 February 2022, up from 59.1% in the previous week. Room demand (23.9 million) and occupancy were the highest since the end of October. While weekend occupancy (70.6%) came down from its Presidents’ Day weekend level (73.7%), weekday (Sunday-Thursday) occupancy increased to 58.8% from 53.2% one week prior. While there is no doubt that weekday occupancy was supported by the Presidents’ D...

U.S. weekly hotel performance continued to rev up with the largest week-over-week increase in occupancy this year. A level of 54.6% for 6-12 February 2022 was 4.2 percentage points better than the week prior, and in absolute terms, occupancy was highest since the second week of December. All day parts saw growth with the largest occupancy gain over the weekend (Friday and Saturday), up 6.6 percentage points to 64.1%. Of the 166 STR-defined markets, 91% reported week-over-week gains in weekend oc...

When booking a hotel room, guests are considering more factors than ever in deciding which property to call home in their destination. One of the many considerations is price, and by extension hotel class, which leads us to this latest analysis of occupancy on the books in London.

In 2020, Chengdu’s hospitality industry accounted for 65.7% of GDP, contributing 52.2% to the city’s economic growth and significantly increasing its contribution to the development of energy levels and economies.

Photo: Grand Swiss-Belhotel Waterfront, Seef, Bahrain Swiss-Belhotel International is bringing its 5-star brand Grand Swiss-Belhotel to the GCC with the Grand Swiss-Belhotel Waterfront Seef in Bahrain. It marks the upscale brands foray into the Middle East for the very first time. Combining the Asian passion and Swiss professionalism with the vision of excellence the Grand Swiss-Belhotel brand is designed to surprise guests with unexpected experiences wrapped in elegance and gra...

Sydney is already home to Australias only claimed "six star" hotel in Crown Sydney but if all goes to plan, it will soon be home to a second. Award-winning developers Built and joint venture partner, Irongate Group plan to begin construction next year on an $800 million property on Phillip Street that would afford panoramic, never-to-be-built-out, harbour views, including a "six star" hotel. The development will include 52 Phillip Street, which Built already owns, and the next-door heritage-lis...