Amit Sripathi named Wyndham’s chief development officer
Asian Hospitality
by Vishnu Rageev R.
17h ago
WYNDHAM HOTELS & RESORTS recently named Amit Sripathi as chief development officer, taking over from Chip Ohlsson, who exits the company in June. Sripathi, who previously was Wyndham’s senior vice president of strategic and corporate development, will head the company’s North American franchise sales team. Before his tenure at Wyndham, he served as vice president of finance and capital markets at RLJ Lodging Trust, and as vice president of global investment banking at Deutsche Bank, Wyndham said in a statement. “Amit’s deep experience in mergers and acquisitions and capital markets focused ..read more
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CBRE: U.S. hotels’ RevPAR growth to improve in the second half of 2024
Asian Hospitality
by Vishnu Rageev R.
17h ago
U.S. HOTELS ARE likely to report improved RevPAR growth in the second half of the year, following a weak first quarter, according to CBRE. International tourism and other economic factors are expected to provide a boost to performance. A 2 percent increase in RevPAR growth is forecasted for 2024, down from the 3 percent estimated in February. RevPAR is now expected to grow by 3 percent for the remainder of the year, driven by international tourists, holiday travel, and limited supply growth. It is projecting GDP growth of 2.3 percent and average inflation of 3.2 percent in 2024. The performanc ..read more
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AAHOA, ORLA monitor city’s hotel tax revenue proposals
Asian Hospitality
by Vishnu Rageev R.
2d ago
SALEM, OREGON, RECENTLY changed its plan to use transient lodging tax funds for library funding gaps. AAHOA and the Oregon Restaurant & Lodging Association have been closely monitoring the municipality’s attempts to divert the protected revenue from its intended purpose, promoting tourism. Instead, the city will use funds from the American Rescue Plan Act. Hotel taxes diverted from tourism could diminish funding for year-round visitor attraction efforts, AAHOA said in a statement. “AAHOA and ORLA were proactive in ensuring appropriate use of the transient lodging tax in the city of Salem ..read more
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New Jersey franchise reform bill takes a step forward
Asian Hospitality
by Ed Brock
3d ago
ONE VERSION OF a proposed New Jersey bill that would reshape hotel franchising in the state has passed out of committee in the Assembly but efforts reportedly are under way to amend it to address opponents’ concerns. The Senate version of the bill remains in committee. The American Hotel & Lodging Association, a long-time critic of the proposed legislation, called the Assembly Committee on Commerce, Economic Development and Agriculture’s passage of the bill a “dangerous step forward.” Supporters of the bill, including AAHOA as well as sponsors of the bill, did not respond to requests for c ..read more
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Q1માં હયાતનો RevPAR, આવક અને પાઇપલાઇનમાં ઉછાળો
Asian Hospitality
by asian
4d ago
હયાત હોટેલ્સ કોર્પો.એ 2024ની શરૂઆતમાં મજબૂત કામગીરી નોંધાવી છે, રેવપાર અને આવક વૃદ્ધિ સાથે પાઇપલાઇનના વિસ્તરણને કારણે તેના મુખ્ય હોટેલ બિઝનેસ અને વૈશ્વિક ફ્રેન્ચાઇઝ નેટવર્કને પ્રોત્સાહન મળ્યું. 2023 ની સરખામણીમાં સિસ્ટમવ્યાપી RevPARમાં 5.5 ટકાનો વધારો થયો છે, જ્યારે સર્વસમાવેશક રિસોર્ટ નેટ પેકેજ RevPAR 11 ટકા વધ્યો છે. દરમિયાન, યુ.એસ. RevPAR આશરે 2 ટકા વધ્યો, ઇસ્ટર અસરને બાદ કરતાં, સામાન્ય વૃદ્ધિ દર્શાવે છે. નેટ રૂમમાં લગભગ 5.5 ટકાનો વધારો થયો છે, જેમાં ચોખ્ખી આવક $522 મિલિયન અને એડજસ્ટેડ ચોખ્ખી આવક $75 મિલિયન છે, એમ હયાતે એક નિવેદનમાં જણાવ્યું હતું. સમાયોજિત EBITDA $252 મિલિયન રહ્યો, Q1 2023 ..read more
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AAA: Nearly 44 million Americans plan to travel this Memorial Day weekend
Asian Hospitality
by Vishnu Rageev R.
4d ago
APPROXIMATELY 43.8 MILLION Americans will travel 50 miles or more from home, surpassing pre-pandemic figures, according to a forecast by AAA. This represents a 4 percent increase from last year and approaches the 2005 record of 44 million Memorial Day weekend travelers. A record 38.4 million are expected to drive, marking the highest number since AAA began tracking in 2000. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” said Paula Twidale, AAA Travel’s senior vice president. “We’re projecting an additional one million travelers this holiday weekend compare ..read more
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Marriott selects Agilysys POS for U.S., Canadian properties
Asian Hospitality
by Vishnu Rageev R.
4d ago
MARRIOTT INTERNATIONAL RECENTLY picked the Agilysys point-of-sale platform, InfoGenesis, as an option for its hotels throughout the U.S. and Canada. Marriott’s luxury, premium and select tiers hotels in both countries can now use the platform for guest-facing and staff-facing operations in F&B, retail and activity centers at each property. Agilysys is led by CEO Ramesh Srinivasan. InfoGenesis consolidates guest and staff purchasing transactions onto a single comprehensive cloud platform tailored for the hospitality industry, Agilysis said in a statement. InfoGenesis POS integrates with Mar ..read more
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Sonesta Essential opens in Des Moines, IA
Asian Hospitality
by Vishnu Rageev R.
5d ago
Sonesta Essential Des Moines is now open in Des Moines, Iowa. The 150-room, upper-midscale property is owned by Bhavik Shah. The hotel is close to the Iowa State Capitol, Des Moines International Airport, Drake University and Iowa State Fairgrounds, Sonesta said in a statement. “The opening of Sonesta Essential Des Moines continues the momentum of our newest brand,” said Keith Pierce, Sonesta’s executive vice president and president of franchise and development. “At Sonesta, relationships are at the core of our growth strategy as we expand our footprint and grow the Sonesta Essential brand thr ..read more
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Choice moving past failed Wyndham merger attempt
Asian Hospitality
by Ed Brock
5d ago
CHOICE HOTELS INTERNATIONAL appears to be moving on from its failed attempt to acquire Wyndham Hotels & Resorts, according to statements from its executive team during the company’s first quarter earnings call May 8. The quarter saw overall positive performance for the company, including record growth in its pipeline and $63.7 million adjusted net income, a 9 percent rise over the same period of last year. The main portion of the call was dedicated to reporting the highlights of the quarter. For example, Choice’s EBITDA during the quarter grew to $124.3 million, a first quarter record and ..read more
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CoStar: U.S. hotel performance shows mixed results in first week of May
Asian Hospitality
by Vishnu Rageev R.
1w ago
U.S. HOTEL PERFORMANCE exhibited mixed results in the first week of May compared to the prior week, according to CoStar. Among key metrics, occupancy declined, whereas both RevPAR and ADR saw an uptick. Occupancy dropped to 64.4 percent for the week ending May 4, down from the previous week’s 65.7 percent, marking a 0.8 percent year-over-year decrease. ADR rose to $159.97 from $154.44, reflecting a 1.3 percent increase compared to last year. RevPAR climbed to $103.09, up from $101.42 the prior week, indicating a 0.5 percent increase compared to the same period in 2023. Among the top 25 markets ..read more
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