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Article - Weekly Global Hotel Performance Trends from STR: 4 - 10 June 2023 - Global occupancy (excluding the U.S.) was 68.5%, which was the fourth highest level since March 2020 and up 6.5ppts YoY. Weekly ADR was up 16.6% YoY to US$152, the second highest nominal level since the start of the pandemic. With strong growth in both occupancy and ADR, RevPAR achieved an all-time high of US$104, up 28.9% YoY.
Article - NEHMER & HVS Release 2023 Hotel Cost Estimating Guide - The Hotel Cost Estimating Guide evaluates costs in a variety of hotel tiers including Economy, Extended Stay, Midscale, Upscale, Upper Upscale, and Luxury. Within each tier, costs are separated into the categories of Guestrooms; Guest Bathrooms; Guestroom Corridors; Public Areas; Food & Beverage Outlets; Function Space; Recreational Facilities; Infrastructure; and Common Additives.
Here’s a taste of the hotel deal and development news that Daily Lodging Report summarized in the past week, as of April 21, 2023.
While most markets across Europe experienced a robust hotel performance recovery, the transaction activity recorded only a modest growth in 2022 hampered by the raised cost of financing, economic and geopolitical concerns. Nevertheless, nearly 800 hotels were sold in 2022 worth €18 billion, 2% more than in 2021. The UK remained the most active hotel investment market , although its lead over other markets has narrowed with the rise of France and Spain, ranked the second and third respectively.
Founded by Ashish Jakhanwala and Manav Thadani in 2010, Samhi Hotels had first filed for an IPO in September 2019 but later dropped the plans due to market conditions and the impact of the Covid-19 pandemic.