Underscoring the significant economic impact and strong growth of the hotel industry, a new study released today finds that hotels support more than 1 in 25 American jobs—8.3 million in total—and contribute nearly $660 billion annually to U.S. GDP.
Archive for the ‘HOSPITALITY’ Category
On September 1st, Hurricane Dorian made landfall in the Bahamas as the strongest Category 5 storm ever to hit the archipelago, with sustained winds of 185 mph and 220 mph wind gusts. In the Bahamas, the death toll from Dorian stands at 20. The number of fatalities is expected to climb in the coming days.
Best Western Hotels & Resorts has acquired property management software company AutoClerk, in a move to combine the startup’s technology stack with its own central reservation system. The chain’s long-term goal is to create one internal system that more quickly provides up-to-date pricing and inventory information to online travel agencies for customers looking to book […]
Destinations around the world are discovering that gritty urban neighborhoods that once housed factories or warehouses show no signs of cooling off as hot spots for development. While the trend started in the late 1990s in forward-thinking coastal cities like New York and San Francisco, the widespread phenomenon of warehouse/industrial district conversion has grown even […]
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 […]
Big hotel chains are going low-budget, appealing to workers for whom cost and cool are more important than cushy comfort.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 30 June through 6 July 2019, according to data from STR.
As consumers are increasingly changing their diets to plant-based foods, Interstate Hotels & Resorts – a global leader in third-party hotel and resort management – is going beyond traditional menus at the company’s hotels and restaurants this summer through a partnership with Beyond Meat® (NASDAQ: BYND) and their famous Beyond BurgerTM.
Underscoring its commitment to supplier diversity, Marriott International, Inc. (MAR) today announced that, for the first time in its history, it expects to spend $500 million in 2019 with women-owned businesses for goods and services. The figure – which includes spending at Marriott International’s managed hotels and at corporate – represents a near doubling of […]
From meatless meats to digital twins, the latest “emerging trends” identified by Goldman Sachs Group Inc. include technologies and investing strategies that have been around for a while. “What happens when everything old becomes new again?” the bank asked Wednesday in the second edition of its “Outsiders” series, meant to help investors “separate the hype […]