Read the latest news from around the Americas region.
US Hotel Recovery Slows Week of April 17
Now that demand provided by school spring breaks has ended, U.S. hotel performance growth stalled in the week of April 17, according to STR's VP of Analytics Isaac Collazo. STR is CoStar Group's hospitality analytics firm.
However, STR's "Market Recovery Monitor" shows half of U.S. hotel markets recorded revenue per available room levels 80% or higher than the level reached in the comparable week of 2019.
"That percentage factors in temporarily closed markets, using STR's total room inventory methodology, and was 46% the prior week. However, that is likely due to the easy comparison to 2019," writes.
Hotel Executives Optimistic Despite Labor Challenges
Though hoteliers are excited to begin welcoming more travelers back, the challenge to hire and retain employees remains, writes HNN's Danielle Hess.
Speaking during the "ALIS 6x8: Recovery Top of Mind" session of the BHN Group's online webinar series, Tony Capuano, CEO of Marriott International, said he has "measured optimism," stemming from COVID-19 vaccines and week-over-week improvement in demand.
Julie Richter, chief financial officer at Concord Hospitality Enterprises, said in addition to the excitement, labor pressures remain one of the top concerns no only for her company but for the entire industry.
"I think the biggest issue on the road to recovery right now is the labor pressures where our operators are having to make revenue decisions not only based on a given night's demand, but also based on an analysis of how long it will take to turn the rooms based on staffing shortfalls," she said.
Hoteliers Notice Uptick in Bookings Pace on Heels of Updated CDC Guidance
The Centers for Disease Control and Prevention updated its guidance in early April, saying that fully vaccinated people can travel within the U.S. without the need of COVID-19 testing or self-quarantining post-travel.
On the heels of that announcement, hoteliers are noticing improving momentum with bookings pace into the summer and fall months, writes HNN's Dana Miller.
“While we aren’t attributing a specific spike in bookings activity that coincides with the April 2 CDC guidance, we believe the updated guidance, coupled with increased consumer confidence and a growing population of vaccinated Americans, is contributing to accelerating demand growth,” Brian Berry, executive vice president of commercial strategy at Pyramid Hotel Group, said in an email interview.
Deals, Developments, People on the Move
- Hospitality management, development and investment group Raines acquired the 111-room Waynesville Inn Golf Resort & Spa in Waynesville, North Carolina.
- McKibbon Hospitality has appointed three corporate leaders. Weejen Lynch as vice president of engineering; Jihad Lotfi as vice president of revenue management; and Kiel Lombardo as director of food and beverage for Lifestyle Hotels.
- The 95-room TownePlace Suites by Marriott Plant City opened on April 16 in Plant City, Florida. It is owned by Thonotosassa Crossings and managed by Naples Hotel Group.
- Real estate firm Blue Flag Partners has acquired six historic properties in Nantucket, Massachusetts. The hotels will join its growing portfolio of historic hotels and inns, operated by Life House.
- Caesars Entertainment announced a $400 million investment plan in Atlantic City, New Jersey, where it owns and operates Caesars Atlantic City, Harrah's Resort Atlantic City and Tropicana Atlantic City. The first phase of $170 million includes guestroom and suite upgrades at Harrah's and Caesars.
- The 227-room Hyatt Centric Beale Street Memphis opened on April 21 as part of the One Beale mixed-use development.