Record-breaking U.S. performance: The U.S. hotel industry reported record-breaking performance during the first quarter of 2018, according to STR. Compared with Q1 2017, occupancy rose 0.9% to 61.6%; ADR rose 2.5% to US$127.37; and RevPAR 3.5% to US$78.46. The absolute levels of each metric was the highest STR has benchmarked for a first quarter, the company said. Supply, more than 460 million room nights available, and demand, more than 285 million room nights sold, also reached record Q1 levels. Demand grew at 3.0% versus 2.0%.
Bluegreen in Texas: Boca Raton, Florida-based vacation ownership company Bluegreen Vacations acquired the 165-room Éilan Hotel and Spa in San Antonio, Texas, for about US$34.3 million.
Accor results: AccorHotels of France reported a 9.5% increase in first-quarter 2018 revenue and is “continuing its fast-paced transformation to build an increasingly comprehensive offering to serve its customers,” according to CEO Sébastien Bazin. Consolidated first-quarter 2018 revenue totaled €633 million (US$783.4 million). Group RevPAR grew 5.3%, with growth in Europe of 4.6% and Asia-Pacific of 5.3%.
Read the story in City A.M. and find Accor’s press release here (English)
Wynn board shifts: Las Vegas-based Wynn Resorts expanded its board to 11 members, with the appointment of venture capitalist and author Betsy Atkins, communications executive Dee Dee Myers and former Disney exec Wendy Webb as independent directors. The company said the goal was to diversify the gender, skills and experience of the board. Women now comprise 36% of the board.
Airbnb conversion: A 10-bedroom, 1881-era mansion in San Francisco is converting from Airbnb’s most expensive listing in that city to a small hotel. The house, which went for US$10,000 per night, will become the Mansion on Sutter.
Read the story in the San Francisco Chronicle
Red in Reykjavik: Radisson Hotel Group will open a Radisson Red, its first of the select-service brand in the Nordic countries, in Reykjavik, Iceland, in mid-2020. The 195-room new-build will be located in the city center.
Rove on Al Marjan: Rove Hotels will open its first hotel in the UAE on Al Marjan Island in Ras Al Khaimah. The 450-room hotel will be the first midscale hotel in the development.