🏗️ U.S. Hotel Construction Pipeline Reaches Record Highs

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🏗️ U.S. Hotel Construction Pipeline Reaches Record Highs

In Q2 2024, the U.S. hotel construction pipeline reached a record 6,095 projects and 713,151 rooms, growing 9% and 8% year-over-year, respectively, with Dallas leading all markets. Extended stay, upper midscale, and upscale segments dominated, and 400 new hotels are expected to open by year-end, significantly above 2023 levels. Read More.

✈️ Hotels Leverage Aviation Data to Address Passenger Demand

Hotels are increasingly using aviation data to forecast demand and optimize pricing strategies. By analyzing flight booking information and schedules, they can better understand visitor traffic, identify untapped markets, and adjust prices dynamically, similar to the airline industry. Read More.

📈 Park Hotels Identifies Weakness in Hawaiian Market for Q2, Optimistic for Future Growth

Park Hotels & Resorts' CEO Thomas Baltimore Jr. remains optimistic about the company's Hawaiian assets despite near-term challenges, primarily due to the weak Japanese economy and currency. While Park's Hawaiian properties saw a decline in revenue and occupancy in the last quarter, Baltimore believes long-term prospects are strong, particularly as the Japanese yen strengthens and inbound travel from Japan increases. Read More.

💡 Cap Rate Expansion Peaks, Sales Volume Recovery Delayed Until 2025, According to CBRE Survey

The H1 2024 CBRE Cap Rate Survey shows stable cap rates overall, with industrial rates falling and office yields rising. Most respondents believe cap rates have peaked, expecting little change in the next six months. However, recovery in investment volume is now anticipated to be delayed until 2025 due to ongoing inflation and interest rate challenges. Read More.

👨‍💼 Atlantis Resorts Appoints New President for Dubai Properties

Paul Baker will become the new president of Atlantis Resorts' two Dubai properties, as announced by Philippe Zuber, CEO of Kerzner International. Baker, formerly president of Grand Lisboa Palace in Macau, brings extensive casino experience to his new role, starting on August 26. Read More.

🏨 IHG Hotels & Resorts Opens InterContinental San Antonio Riverwalk

IHG Hotels & Resorts has partnered with Action Against Hunger to combat global food insecurity. This multi-year collaboration will support nutrition programs, particularly for malnourished children, and raise awareness among IHG’s global guests. Read More.

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