Baku’s hotel sector shattered records during COP29, experiencing unprecedented surges in ADR and RevPAR. The influx of attendees led to four-figure room rates and exceptionally high occupancy, highlighting Baku’s growing prominence as a global event destination.
The 14th annual Inspire Luxury Hospitality Conference returns to the Fontainebleau Las Vegas on December 4-5, 2024, bringing together industry leaders, investors, and innovators to discuss the latest trends and opportunities in luxury hospitality. This premier event promises unparalleled networking, insightful presentations, and strategic deal-making opportunities.
Canada’s hospitality industry reached unprecedented heights in October 2024, with occupancy exceeding 68% and average daily rates surpassing CAD 200 for the first time. While future growth is projected to moderate, the sector’s strong performance points to a robust recovery.
Choice Hotels continues its expansion in the upscale hotel segment with three new Cambria Hotels in California, Tennessee, and Washington, and upcoming groundbreakings in Missouri and Oregon. The brand’s focus on strategic growth in key markets and its commitment to providing high-quality, locally inspired stays are solidifying its position as a leader in upscale lodging.
Rajasthan’s tourism industry is calling for a new era of growth with a comprehensive policy revamp. The sector is urging the government to ease regulations, simplify processes, and establish dedicated support systems to attract investment and innovation. The proposed policy aims to tackle long-standing challenges and empower Rajasthan’s tourism sector on a global stage.
China’s hotel industry is experiencing unprecedented growth, with the construction pipeline reaching record highs in Q3 2024. The upscale and upper midscale segments are driving this surge, with significant increases in both projects and room counts. The report also highlights a rise in brand conversions and construction starts, further solidifying China’s position as a global hospitality leader.
The Hotel Association of India (HAI) is urging the government to provide financial incentives to help small hotels adopt sustainable practices. This move aims to bridge the gap between larger, eco-friendly hotels and smaller operators who face financial challenges in implementing sustainability initiatives. HAI’s Vision 2047, which seeks to achieve complete sustainability across the hotel industry by 2047, is a key part of this effort.
Marriott International (MAR) reported third-quarter earnings that fell short of analyst expectations, with adjusted EPS coming in below the consensus estimate. The company also issued FY24 adjusted EPS guidance that was lower than anticipated. Despite this, Marriott highlighted strong net room and fee growth, active development, and a 3% rise in global RevPAR. Analysts reacted to the earnings announcement by adjusting their price targets, with some maintaining their ratings while others raised their price targets.
Hyatt Hotels Corporation (H) reported solid third-quarter results, beating revenue estimates but missing earnings per share expectations. The company’s RevPAR saw growth, and its pipeline expanded significantly, but the stock price dropped over 4% on Thursday. This article analyzes Hyatt’s financial performance, dives into key metrics, and explores the company’s outlook for the future.
The AHLA Foundation, the charitable arm of the American Hotel and Lodging Association, has announced the awarding of nearly $1 million in scholarships to 369 hospitality students across the United States. This significant investment in future industry leaders demonstrates the foundation’s commitment to education and development within the hospitality sector.
