In 2017, as rooms revenue growth decelerated to 1.5 percent, Attrition and Cancellation Fee revenue declined by 1.8 percent.
Hotel, hospitality and travel
With moves taken by Marriott International and Airbnb, accommodations offered by hotels and private owner services are getting less clear-cut. Both are in what appears to be quite possibly the beginning stages of offering types of lodging hitherto thought of as uncharacteristic of them.
That means the lines between hotels and "home stays" are blurring, says Lorraine Sileo, senior vice president of research for Phocuswright, which tracks the travel industry.
According to STR, U.S. hotels achieved all-time high levels of occupancy, ADR, and RevPAR in 2018. While a record number of guests are staying at hotels, and revenues are flowing in, the ability to collect these funds is starting to become more of a challenge.
According to the December 2018 edition of CBRE’s Hotel Horizons, the annual growth in RevPAR for U.S. hotels is forecast to decelerate from 2.8 percent in 2018 to 0.1 percent in 2021. As the main source of hotel revenue is plateauing, hoteliers are looking up and down their operating statements to find alternative sources of income. For hotels that operate a spa, this department has stood out as a bright spot not only for growth in revenue, but gains in profits as well.
Technology, online intermediaries, social media, revenue management software, shared-services, and the proliferation of market intelligence reports have reshaped the way hotel Sales and Marketing Departments conduct business. The traditional organizational structure of assigning personnel by demand segments (commercial, group, leisure) has given way to assignment by function (revenue management, social media, channel distribution, customer relationship management). According to one industry executive, most of the “selling” of hotel rooms has moved from the property level to corporate and
Blockchain has been around for ten years now, probably most famously as the technology behind Bitcoin. Specialists say that its qualities make it a natural to generate significant improvements for hotels and their travel industry networks.
Marriott, after its 2016 merger with Starwood, now has 30 different hotel brands. Shouldn't it be cutting that number down? If the typical employee doesn't know the 30 brands and what distinguishes each of them, surely hotel customers don't. Hilton has 15 brands.
Why are hotel companies keeping so many brands? Josh Barro of New York magazine explains:
U.S. hotel acquisitions are up dramatically in the past 12 months. Who's behind the hot buying streak? JLL, a real estate services firm, gives us the numbers and tells us who.
As of YTD 2018, hotel transaction volume in the United States reached $29.7 billion, more than a 25 percent year-over-year increase, with private equity firms representing 37 percent of hotel acquisition in the United States, or $11 billion.
Marriott International, Inc. announced that the records of some 500 million guests from its Starwood hotels reservation system have been hacked.
Julius Damiano Deangilo Trotter, a convicted felon, faces the death penalty for the murder of two Vietnamese tour leaders at the Circus Circus Hotel on the Las Vegas Strip. The latch on the victims door was inspected the next day and found to be broken.