JLL’s latest survey reveals a mixed outlook for the Asia Pacific hotel industry in 2024/2025, with North, South, and Southeast Asia projecting robust performance, while Australasia expresses more cautious optimism. Key findings include differing expectations for occupancy rates, ADR, and total revenue across subregions, with concerns about labor costs, F&B revenue, and the impact of the Chinese economic situation.
The U.S. hotel industry continues to see positive growth, with Houston and Chicago leading the way in occupancy and revenue. Houston’s occupancy surged by 31.7%, while Chicago saw significant increases in both Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) due to the Democratic National Convention. However, some markets like Las Vegas and Nashville experienced declines in RevPAR.
The US hotel industry is showing mixed results in mid-August, with Houston experiencing significant growth while cities like San Francisco and Atlanta see declines. CoStar’s data reveals these trends, highlighting Houston’s strong performance in occupancy, ADR, and RevPAR.
High demand and limited supply are driving up hotel rates in Delhi, with IHCL hotels experiencing a surge in prices despite a slow pace of new hotel openings. The Indian hotel market is seeing a rise in occupancy and revenue, fueled by strong domestic travel and a shift towards last-minute bookings. However, the growth of branded hotels remains slow, leading to a continued tight supply.
Sonder Holdings, Inc. (SOND) saw its shares skyrocket over 125% on Monday after announcing a long-term licensing agreement with Marriott International, Inc. (MAR). This partnership will see Sonder’s apartment-style accommodations integrated into Marriott’s system under a new collection called ‘Sonder by Marriott Bonvoy’.
Marriott International is expanding its portfolio with a new partnership with Sonder, adding over 9,000 rooms to its system by year’s end. This agreement will bring Sonder’s apartment-style accommodations into the Marriott Bonvoy network under a new brand collection called ‘Sonder by Marriott Bonvoy.’
Royal Orchid Hotels Ltd. (ROHL) has announced impressive Q1 FY2024-25 results, showcasing strong nationwide growth, fueled by the addition of six new properties and a strategic focus on expanding its presence in key locations. While revenue saw a significant boost, the company reported a slight decline in profitability, attributed to factors like rising operational costs.
The General Services Administration (GSA) has announced an increase in per diem rates for federal employees, boosting lodging and meal allowances. This move is expected to generate significant revenue for the hotel industry and support federal travel.
The US hotel industry experienced a slight but positive year-over-year growth during the week of August 4-10, 2024, according to CoStar data. Occupancy, ADR, and RevPAR all saw modest increases, with Houston leading the Top 25 Markets in terms of growth.
Choice Hotels International, a leading global hotel company, has chosen 72andSunny New York as its new creative agency of record and dentsu X as its digital media agency of record. This strategic alliance aims to amplify brand affinity and drive bookings across Choice’s diverse portfolio of 22 hotel brands through innovative marketing campaigns. The partnership leverages the expertise of both agencies in navigating the evolving media landscape and creating engaging narratives that resonate with a wide audience.
