Behind the story of Hilton’s mega expansion in Saudi Arabia
Hilton currently operates 16 hotels in Saudi Arabia, and has plans to increase its portfolio to more than 75 trading properties…
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The most popular cruise destinations among Brits, with Norway hitting top spot
New research has discovered the most popular cruise destinations among Brits, with Norway taking the top spot…
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Israel hotel market overview 2023 – Recovery in progress
In the past year, Israel’s hotel sector has continued to demonstrate its resilience and its ability to withstand the impact of COVID-19, similar to the way it has bounced back from so many previous adversities…
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Melia Hotels quarterly profit soars as revenue tops pre-pandemic levels
MADRID, July 31 (Reuters) - Spanish chain Melia Hotels International (MEL.MC) on Monday posted a second-quarter consolidated net profit of 46.2 million euros ($50.9 million), up sharply from just 3.7 million euros a year ago, as the global appetite…
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Marriott lifts annual profit forecast on China rebound
Aug 1 (Reuters) - Marriott International (MAR.O) raised its full-year profit forecast on Tuesday, as the U.S. hotel operator bets on higher room rates and rebounding demand in China to boost earnings.
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Mandarin Oriental reverses into profit of US$28 mil, driven by recovery of key owned hotels in Asia
Mandarin Oriental M04 -1.79% has recorded an underlying profit of US$28 million ($37.29 million), a reversal from its underlying loss of US$21 million in the same period last year, and more than double in 2019…
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Why markets don't favour much-anticipated demerger of ITC's hotel biz
Chennai, July 30 (IANS) The demerger of the hotels business from ITC Ltd (NS:ITC) has been talked about for a long time…
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Hilton Had a Very, Very Good Quarter
Hilton is seeing no signs of a slowdown in travel demand. The company said the second quarter was the best booking quarter in its history, reports Senior Hospitality Editor Sean O’Neill.
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Wyndham global RevPAR up 7% in Q2
Wyndham Hotels & Resorts' global system grew 4 percent in Q2 2023, reflecting 1 percent growth in the U.S. and 9 percent growth internationally. (Wyndham Hotels & Resorts)
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Luxury Pet Friendly Hotel Market Is Booming Worldwide : Hyatt, Rosewood, the Langham
According to HTF MI, the Global Luxury Pet Friendly Hotel Market is expected to see a growth rate of 12.5% and may see a market size of USD 20.46 Billion by 2028, currently pegged at USD 2.61 Billion.
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U.S. hotel commentary – June 2023
June 2023 Top-Line Metrics (percentage change from June 2022)
Occupancy: 69.7% (-0.4%)
Average daily rate (ADR): US$158.40 (+2.3%)
Revenue per available room (RevPAR): US$110.33 (+1.9%)
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