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National occupancy rates sit at 71%, up 2% year-on-year, while average daily rate (ADR) remains stable at AU$240 and revenue per available room (RevPAR) is up 3.8% With major events, premium hotel openings, and infrastructure projects in the pipeline, the outlook for the Australian Hotel sector remains positive.
We also delivered the highest number of approvals, construction starts and openings in our history in 2024, helping us achieve net unit growth of 7.3%. With a development pipeline of nearly half a million rooms, we are confident that we are well positioned to deliver net unit growth between 6% and 7% in 2025.”
from year-end 2023 At the end of the year, Marriott’s worldwide development pipeline totaled nearly 3,800 properties and more than 577,000 rooms The company returned more than $4.4 “The company signed a record number of new deals, and our industry-leading development pipeline reached more than 577,000 rooms at the end of the year.
At the end of the quarter, Marriott’s worldwide development pipeline totaled approximately 3,800 properties and more than 587,000 rooms, up 7.4% Owned, leased and other revenue, net of direct expenses, totaled $65 million, compared to $71 million in the 2024 first quarter. from the end of the first quarter of 2024.
Terra and Turnberry , two South Florida real estate development firms, have secured $392 million in construction financing that will help advance the development of Grand Hyatt Miami Beach, an 800-room, 17-story property adjacent to the Miami Beach Convention Center.
Approved 32,600 new rooms for development, bringing the development pipeline to 503,400 rooms as of March 31, representing growth of 7% from March 31, 2024. Management and franchise fee revenues increased 5.1% .” First-quarter highlights include: Adjusted EBITDA was $795 million. from March 31, 2024.
Vietnam has also been a focus, with four hotels already open and eight in the development pipeline, including upcoming openings in sought-after coastal locations such as Mui Ne and Hoi An, along with the signing of the first Radisson Red in Danang. This expansion aims to tap into new market segments and create opportunities for growth.
Wyndham Hotels & Resorts , for the first quarter ended March 31, reported that global RevPAR grew 1% in constant currency and ancillary revenues grew 8% compared to the first quarter of 2023. The company’s development pipeline consists of nearly 2,000 hotels and approximately 243,000 rooms, an all-time record for the latter.
Wyndham Hotels & Resorts reported its second quarter results, including growing its development pipeline by 7% and system size by 4% in the period. Development pipeline grew 1% sequentially and 7% year-over-year to a record 245,000 rooms. Ancillary revenues increased 6% compared to second quarter 2023.
It’s not uncommon for revenue to slide. Revenue being down isn’t the most difficult problem. Knowing why revenue is down and where to look is the biggest challenge. This post is gonna lay the four areas CSO’s/Heads of Sales should be looking if their revenue is on the slide. How solid is your pipeline meeting process?
Hotel ConstructionPipeline Trend Report paints a picture of robust growth and strategic focus. As economic conditions evolve, particularly with anticipated interest rate reductions, we can expect to see many of these planned projects move swiftly into the under-construction phase. Lodging Econometrics’ (LE) Q2 2024 U.S.
“Within customer segments, group once again performed extremely well, with revenue rising 10% above 2022,” Capuano said of the US and Canada. Marriott International CEO, Anthony Capuano “Business transient revenue also saw strong year-over-year growth, driven by solid average daily rate growth.
Hotel renovation and conversion pipeline activity, at the end of the fourth quarter of 2022, is at the highest totals Lodging Econometrics (LE) has ever recorded. Renovations and conversions account for more projects and rooms than those that are currently in the under construction stage of the new constructionpipeline.
Choice Hotels Asia-Pac is reporting increased interest among developers in midscale and upper midscale offerings amid high construction costs. We’re experiencing unprecedented pipeline demand and conversion in midscale and upper midscale segments, particularly in regional Australia.
30, reported a record-high development pipeline of 1,930 hotels. Adjusted EBITDA increased 5% to $200 million primarily reflecting higher fee-related and other revenues as well as marketing fund variability. Approximately 69% of the pipeline is in the midscale and above segments. and 6% growth internationally.
It’s not uncommon for revenue to slide. Revenue being down, isn’t the most difficult problem. Knowing why revenue is down and where to look is the biggest challenge. This post is gonna lay the four areas CSO’s/Heads of Sales should be looking if their revenue is on the slide. Is it working?
Wyndham Hotels & Resorts has revealed the continued expansion of its ECHO Suites Extended Stay by Wyndham brand, which in just one year, now has more than 200 hotels in its development pipeline. The purpose-built, all-new-construction, 124-room ECHO Suites prototype requires under two acres of land.
Adelaide is an exciting destination for AHICE as the city’s accommodation sector has boomed in recent years with the addition of a range of new hotels and many more in the pipeline including the Marriott Hotel Adelaide at GPO, Holiday Inn and Suites Adelaide Mawson Lakes and the Little National.
Wyndham Hotels and Resorts’ new Echo Suites Extended Stay brand is continuing to soar, with more than 200 hotels in its development pipeline just 12 months after it was launched.
We continue to drive long-term growth of our global network through the launch of strategic new brands and have already added more than 60,000 rooms to our development pipeline during 2023.” compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 16.1%
Our industry-leading pipeline grew to approximately 502,000 rooms, up 2.6% At the end of the quarter, Marriott’s worldwide development pipeline totaled more than 3,050 properties and approximately 502,000 rooms, including more than 21,000 rooms approved but not yet subject to signed contracts. from the year-ago quarter end.
reported total revenues of $1.4 ” Q4 and full-year 2022 highlights Total revenues reached a company record of $1.4 million in total revenues. The company’s total domestic pipeline as of Dec. million revenue contribution from Radisson Hotels Americas. Procurement services revenues increased 27% to $63.8
for the full year Approved 33,800 new rooms for development during the fourth quarter, bringing Hilton’s development pipeline to a record 462,400 rooms as of Dec. compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 12.2% from the same period in 2019.
“We’ve also expanded into over 55 new countries while debuting our brands more than 100 times in countries where they’ve never been before, all while nurturing a record development pipeline of over 1,800 hotels, which continues to see positive growth. pipeline nearly 60% and its direct franchising pipeline in China by nearly 70%.
billion in the 2022 fourth quarter, compared to fourth-quarter 2021 adjusted EBITDA of $741 million At the end of the year, Marriott’s worldwide development pipeline totaled more than 3,000 properties and more than 496,000 rooms, including roughly 22,300 rooms approved, but not yet subject to signed contracts. in the year-ago quarter.
The appointment coincides with a focus on luxury expansion for Marriott, particularly in the Asia Pacific, a region that accounts for a third of Marriott International’s luxury hotels and over half of Marriott’s global pipeline. Jasmin MacMillan Raj Kamat and Joanna Millwater have joined the company as Portfolio Revenue Managers.
One key issue, as Paul Finch of Agilysys pointed out, is achieving a “single view of the guest” – truly understanding their needs and preferences for maximising revenue. “AI can analyse data to build this view,” Finch explained. Only ultra-luxury properties saw a slight decline, from 31.7% in 2023 to 29.7%
Group and business transient saw mid-single-digit hotel revenue gains in the quarter, largely driven by rate increases. Leisure transient demand in the region has also remained solid, leading to 4% hotel revenue growth for the segment compared to the year-ago quarter.” in the year-ago quarter. billion to $4.5 & Canada.
“Our teams around the world once again delivered exceptional results, executing our long-term growth strategy and achieving 7% growth in comparable adjusted EBITDA fueled by continued system expansion, higher royalty rates and growth in our ancillary revenues,” said Geoff Ballotti, president/CEO. “We which increased 10% YOY.
Wyndham Hotels & Resorts reported strong results for the fourth quarter and end of the year for 2022, including a 12% year-over-year pipeline increase. Development pipeline grew 12% year-over-year, including 170 new construction projects added for the company’s ECHO Suites Extended Stay by Wyndham brand since launch in March.
“Despite the distraction, uncertainty and misperceptions caused by Choice and their slanted and constant communications to our franchisee base, room openings accelerated and our global development pipeline grew by 10% to an all-time high of 240,000 rooms. Development pipeline grew 1% sequentially and by 10% YOY to a record 240,000 rooms.
billion in international hotel revenue and signed nearly 300 new properties, including our first-ever beautiful glamping resort, the Zion Wildflower Resort at Zion National Park,” said Larry Cuculic, president and CEO of BWH Hotels. “Our The company currently has 20 states and territories in its pipeline. This year, we reached $8.5
Group revenue at our hotels increased 7% compared to the 2022 fourth quarter, driven by solid rate increases. While already significantly above 2019 levels, hotel leisure revenue rose again, up 2%. More than 232,000 rooms in the pipeline were under construction as of the end of 2023. In the U.S. & Net rooms grew 4.7%
The debut of the 124-room property, managed by Sandpiper Hospitality, marks a major milestone for the brand, which has grown its development pipeline to nearly 270 hotels and more than 33,000 rooms across the U.S. billion opportunity in additional room revenue to Wyndham franchisees over the multi-year period of spend. and Canada.
At the end of the quarter, Marriott’s worldwide development pipeline totaled approximately 3,500 properties and more than 559,000 rooms, including roughly 33,000 pipeline rooms approved, but not yet subject to signed contracts. Over 209,000 rooms in the pipeline were under construction as of the end of the second quarter.
At the end of the quarter, Marriott’s worldwide development pipeline totaled more than 3,400 properties and nearly 547,000 rooms, including roughly 27,000 pipeline rooms approved but not yet subject to signed contracts. The quarter-end pipeline included 1,089 properties with more than 202,000 rooms under construction.
. “Our impressive first quarter results demonstrate continued momentum with global RevPAR growth of 12%, net room growth of 4% and the 11th consecutive quarter of sequential growth in our development pipeline,” said Geoff Ballotti, president/CEO, Wyndham Hotels & Resorts. “We and 9% of growth internationally.
With a record number of approvals year-to-date driving the largest pipeline in our history, we are confident in our ability to accelerate net unit growth to 5.5% compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 12.3% billion and $2.6 to 6% next year.”
Development pipeline grew 1% sequentially and 10% year-over-year (YOY). Awarded 60 new construction projects for ECHO Suites Extended Stay by Wyndham in July, including its first hotels in Canada, bringing the total number of contracts to 265. Approximately 72% of the company’s pipeline is in the midscale and above segments.
has revealed that it had higher-than-expected brand growth across its revenue-intense segments in 2023. Growth of the Choice legacy brands represented a nearly 2% increase in the number of domestic properties within these revenue-intensive segments. Choice Hotels International Inc. Choice drove a 1.4%
Approved 24,900 new rooms for development during the first quarter, bringing Hilton’s development pipeline to 428,100 rooms as of March 31. Additionally, Hilton started construction on more than 19,000 hotel rooms during the first quarter, continuing the positive momentum from the end of 2022, particularly in China.
Approved 27,500 new rooms for development during the quarter, bringing the development pipeline to 492,400 rooms as of Sept. compared to the same period in 2023 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 8.3% Diluted EPS was $1.38 30, representing growth of 8% from Sept.
Within customer segments, group once again performed extremely well, with revenue rising 10% above 2022. Business transient revenue also saw strong year-over-year growth, driven by solid average daily rate growth. . & Canada, RevPAR increased 6%, with many urban markets showing impressive growth in the second quarter. and Canada.
As a result of our record pipeline and the growth pace we’ve seen to-date, we expect net unit growth of 6% to 6.5 Additionally, of the rooms in the development pipeline, 229,700 were under construction and 267,900 were located outside of the U.S. compared to the same period in 2023. .” and $6.35.
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