Hotel, hospitality and travel

Who's Buying U.S. Hotels

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.

Death Penalty Sought for Las Vegas Hotel Murders

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.

Dual-Branded Hotels: Beware Expectations of Significant Operating Efficiencies

For the past four years the opening of dual-branded properties has been popular among hotel developers.  The perceived benefits of building a property with two or more brands are many.

Marriott to Expand across Africa

Expanding on the news of five new hotel signings, Marriott International (NASDAQ: MAR) revealed at the Africa Hotel Investment Forum (AHIF) in Nairobi, Kenya, that it plans rapid expansion in Africa. According to the company, it’s on track for an increase of over 200 hotels and 38,000 rooms in five years, generating approximately 12,000 jobs. The new signings further consolidate Marriott's presence in Ghana, Kenya, Morocco and South Africa, and additionally gives it entrée into Mozambique.

Ten Years Later Has U.S. Lodging Really Recovered?

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

Hotels Begin Providing Workers with Panic Buttons

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.

Cost Controls Perpetuate U.S. Hotel Profit Growth in 2017

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.