Lodging is a cyclical industry meaning that it passes over time through four distinct phases: peak, contraction, trough and expansion. Most industry participants believe that 2007 was the previous peak of the current business cycle following six years of expansion from the 2001 industry recession. According to STR, the demand for lodging increased for six consecutive years from 2002 through 2007, while average daily room rates (ADR) grew in excess of 4.5 percent during the latter four years. Per CBRE Hotels’ Trends in the Hotel Industry survey, gross operating profits (GOP) were g
Hotel, hospitality and travel
Hotel housekeepers enter hotel rooms not sure what they will find inside. Sometimes what they find is sexual harassment or other dangers. Major hotel operators, such as Marriott, Hyatt, Hilton, Wyndham and IHG, working with the American Hotel and Lodging Association, are issuing panic buttons to protect their employees better.
After countless complaints of hotel workers enduring sexual harassment, the industry is finally responding by introducing increased measures to better protect its employees, including a portable panic button.
U.S. hoteliers enjoyed an eighth consecutive year of increasing profits in 2017 despite another slowdown in the rate of revenue growth. According to the 2018 edition of Trends in the Hotel Industry, total operating revenue increased by 2.0 percent in 2017 for the average hotel in its survey sample. Fortunately, by limiting the growth in operating expenses to 1.9 percent, managers at the Trends properties realized a 2.2 percent increase in gross operating profits (GOP) for the year.
Research shows that timing makes a difference when hoteliers offer extras. Business and leisure travelers differ on the extras they're interested in, but the ways in which they are willing to take advantage of them are similar.
This morning Wyndham announced it has completed its split into two. Wyndham Worldwide Corporation is gone and in its place are now two publicly traded firms. Wyndham Destinations, Inc.
Franchisees must pay up, and on a consistent basis, to be part of a hotel brand. Is it worth it? Reporter Stacey Mieyal investigates.