2Q U.S.: Compared with Q2 2016, U.S. hotel occupancy was up 0.5% to 69.5; ADR was up 2.2% to US$127.43; and RevPAR rose 2.7% to US$88.58 – record absolute levels in all three areas, according to data from STR. Among the top 25 markets, Orlando, Florida, saw the quarter’s only double-digit increase in RevPAR (up 13.5% to US$98.21).
Hersha acquisition: Hersha Hospitality Trust acquired the 294-room Westin Hotel in Philadelphia, Pennsylvania, for US$135 million; that’s US$459,000 per key.
Doubling down: McNeill Hotel Co. of Germantown, Tennessee, acquired three hotels: the 110-room Homewood Suites in Boise, Idaho; the 107-room Hilton Garden Inn in Twin Falls, Idaho; and the 106-room Hampton Inn & Suites in Salt Lake City – West Jordan, Utah. In the past 18 months McNeill has more than doubled the size of its portfolio, which is now 17 hotels.
Hyatt’s last-minute website: Hyatt Hotels introduced Hyatt.com/getaways, a website updated weekly with 30 hotels in North and South America with availability for the upcoming weekend. It’s aimed at last-minute travelers.
Transat to sell Ocean stake: Transat A.T. of Montreal signed signed an agreement with H10 Hotels for the sale of its minority 35% interest in Ocean Hotels for US$150.5 million. It’s interest to accelerate the development of its own hotel chain in the South.