Archive for July, 2019

US hotel occupancy down 1.3 percent to 73.5 percent for June 2019

The U.S. hotel industry reported mostly negative results in the three key performance metrics during June 2019, according to data from STR. In a year-over-year comparison with June 2018, the industry posted the following: • Occupancy: -1.3% at 73.5% • Average daily rate (ADR): +0.9% to US$134.52 • Revenue per available room (RevPAR): -0.4% to […]

Back-to-school spending expected to reach record highs

Consumer spending is expected to reach nearly $26.2 billion, or $696.70 per household, on K-12 back-to-school items in 2019. The total household spend is up from 2018’s reported $684.70, while spending a year ago was higher — $27.5 billion total — due to more families with children in grades K-12, according to National Retail Federation’s […]

US retailers quicken exit from malls as online shopping bites

Retailers vacated US shopping centres at the fastest pace in at least nine years in the second quarter as the relentless rise of online shopping and collapse of debt-laden chains begin to hit the commercial property market. More than 7,400 store closures have been announced this year, with Sears, Victoria’s Secret and Charlotte Russe among […]

The Toys Are Back In Town: A Reimagined Toys ‘R’ Us Returns

As it turns out, reports of Toys ‘R’ Us’ death may have been greatly exaggerated. The iconic toy retailer—which filed for bankruptcy in 2017 after piling up more than $5 billion in debt—closed its more than 800 U.S. doors and seemed destined for the retail graveyard.

Port of LA broke TEU records in FY2019

The Port of Los Angeles moved 9,688,252 twenty-foot equivalent units (TEUs) in fiscal-year 2019, a 5.7 percent increase from the previous year, port officials announced this week. The fiscal year, which ended June 30, was the busiest 12-month period in port history, said Executive Director Gene Seroka.