The US hotel industry experienced a decline in performance following the Fourth of July holiday, with mixed year-over-year comparisons, according to CoStar data. New Orleans saw the highest year-over-year increases in occupancy, ADR, and RevPAR among the top 25 markets.
The American Hotel & Lodging Association (AHLA) has expressed support for the Human Trafficking Awareness Training Recognition Act, a new bill that would mandate the Department of Homeland Security (DHS) to create a certification program for businesses that train their employees on recognizing and responding to suspected human trafficking. The bill would provide important third-party validation for hotels’ training and prevention initiatives.
Despite offering high wages and improved benefits, the hotel industry continues to grapple with a nationwide workforce shortage. The American Hotel and Lodging Association (AHLA) is calling for government intervention, including expanding the H-2B visa program and passing legislation to increase the workforce, to address the ongoing staffing crisis.
The U.S. hotel industry saw improved performance in the week ending June 29, 2024, with positive year-over-year comparisons. Minneapolis saw the highest gains, fueled by events like the U.S. Olympic Gymnastics Trials and Twin Cities Pride Parade.
The AHLA Foundation will host its third annual No Room for Trafficking Summit on July 30th, 2024, aligning with the United Nations’ World Day Against Trafficking in Persons. This summit will feature the awarding of $1 million in grants to community-based organizations supporting human trafficking survivors, showcasing the impact of the NRFT Survivor Fund.
The U.S. hotel industry experienced significant growth in May 2024, with key performance indicators like occupancy, ADR, and RevPAR surpassing the previous year’s figures. New York City emerged as the top performer, while Detroit and Minneapolis lagged behind.
Canada’s hotel industry saw a boost in May 2024, driven by increased room rates, but experts are cautious about the long-term outlook. While occupancy rates were up, concerns remain about slowing demand and shorter booking windows.
The U.S. hotel industry saw improvements in performance compared to the previous week, but year-over-year results were mixed, according to CoStar data. While San Francisco experienced significant growth driven by events like the Data + AI Summit, New Orleans and Los Angeles saw notable declines in RevPAR.
Scandic Hotels Group AB (publ), the leading hotel company in the Nordic region, has converted SEK 176.5 million of its convertible bonds into shares. This conversion significantly reduces the outstanding debt, further strengthening Scandic’s financial position. The company remains committed to sustainable practices and providing an exceptional experience for guests and employees.
Pilgrimage tourism in India is experiencing a resurgence, with travel agencies reporting a surge in demand ranging from 30% to 100% compared to last summer. Despite the heat, travelers are flocking to popular pilgrimage destinations such as Ayodhya, Varanasi, Prayagraj, Uttarakhand, the Char Dham circuit, and Tirupati. Hotel companies are also benefiting from the increased demand, with Sarovar Hotels & Resorts projecting a significant contribution from religious and pilgrimage travel. The hotel industry is expected to record a 7-9% revenue growth in FY25, underpinned by domestic leisure travel, including pilgrimage tourism.
