Briefs: Record performance in US; Sheraton refresh grows in EMEA

US performance improves: Hotel performance in the U.S. improved from the last week and RevPAR touched an all-time weekly high on a nominal basis, as per STR’s data through June 11.
• Occupancy: 70.6% (-4.1%)
• ADR: US$155.37 (+15.4%)
• RevPAR: US$109.76 (+10.7%)
Along with the weekly RevPAR record, the ADR and occupancy levels were the second and third highest during the pandemic, respectively. In aggregate, the top 25 markets posted their highest metrics since the beginning of the pandemic. Although none of those markets posted an occupancy rise over 2019, Tampa came closest to its pre-pandemic comparable (-0.1% to 72.4%). Seattle (85.2%), San Francisco/San Mateo (84.3%) and New York (85.1%) led the major markets in absolute occupancy for the week. New Orleans registered the largest occupancy decline (-17.4% to 60.3%). Miami recorded the highest gain ADR (+32.0% to US$205.18). The steepest RevPAR dips were in Philadelphia (-5.8% to US$111.03) and Oahu Island (-5.0% to US$207.14).

Sheraton Grand Krakow in Krakow, Poland

Sheraton adds 5 redesigned hotels: The transformation of Sheraton Hotels & Resorts continues in EMEA with five redesigned properties. The refreshed hotels include Sheraton Amsterdam Airport, Netherlands; Sheraton Jeddah, Saudi Arabia; Sheraton Frankfurt Airport, Germany; Sheraton Grand Krakow, Poland; and Sheraton Djibouti, Djibouti. With almost 50 hotels globally displaying the brand’s transformed design, four additional properties in EMEA are slated to transition to the new design by the year end. The new design draws on Sheraton’s roots as a community hub with spaces to connect and encourage productivity. The design also focuses on enhanced food and beverage philosophy with technology integration.

Paceline Equity affiliate acquires in Virginia: Dallas, Texas-based Paceline Equity Partners has acquired the Delta Hotel Virginia Beach Bayfront Suites in Virginia Beach, Virginia. The acquisition of the 195-key full-service, all-suite hotel will be Paceline’s second strategic partnership with BlackPearl Capital. The hotel, built in 1986, underwent a comprehensive renovation, rebranding and conversion in 2021. It is the only hotel in the area to own and operate its own beachfront.

Park-Equities close Colorado Springs deal: The 117-unit Mining Exchange Hotel in Colorado Springs, Colorado, has sold to family-run buyer, Kemmons Wilson. Park-Equities represented the sellers —local attorney and hotelier Perry Sanders and John Goede. The sale price was reportedly the highest per-room sale recorded in Colorado Springs. The historic building first opened in 1901 as a stock exchange for mining corporations, later becoming an office and was eventually transformed by Sanders into a boutique hotel.

Global occupancy outlook: Global occupancy levels for this April and May have surpassed pre-pandemic levels, shows Amadeus’ latest forward-looking data. April was the first month to exceed 2019 occupancy levels and hit a new high of 63% in May, compared to 60% in May 2019. High performing countries like the U.S. saw occupancy reaching 68% in May, 7% above 2019’s performance, while Canada reached 64% occupancy in May, 8% higher than the same time in 2019. Global hotel bookings in June, July and August are on par with pre-pandemic figures with the possibility to grow significantly. With increased demand, the transient ADR has been rising from a global low of US$83 in April 2020. Data showed that ADR achieved on room bookings globally rose by 11% over 2019, with the majority of hotel bookings still being made within a week of travel. As per data for June, July, and August 2022, the worldwide average ADR is US$200, which is just over 11% higher than in 2019 where the average ADR was US$180 for the same months. Individual countries are showing high room rates over the summer, with France likely to touch ADR of US$428 in July, rising 29% from 2019 rates. The U.S. led globally in top inbound flights for the forthcoming summer months, followed by the U.K., France, Germany, and Canada.

US visitors lead revival of Southeast Asia: Visitors from the U.S. are leading the revival of travel to Southeast Asia, which has been lagging far behind the rest of the world, according to latest data from ForwardKeys. In the first five months of the year, travel to Southeast Asia reached only 18% of pre-pandemic figures, while travel to Europe reached 55%, to the Americas 66% and to the Middle East and Africa 64%. Looking ahead to summer, flight bookings for Southeast Asia stood at 43% of pre-COVID levels, while bookings for Europe were at 70%, for the Americas 78% and for the Middle East and Africa 85%. Analysis revealed that travel from the U.S. is projected to reach 75% of 2019 figures. The next best performing market was Australia, where bookings were far behind at 60%, followed by the U.K. (47%), Germany (58%), and France (57%). The most popular destinations among American visitors were the Philippines, Singapore and Indonesia. The Philippines and Singapore have been performing well, with summer flight bookings standing at 70% and 58% respectively compared to pre-pandemic comparables.

Marriott Vacations launches new benefits: Marriott Vacations Worldwide will launch this summer the Abound by Marriott Vacations, a new owner benefit and exchange program. The program will offer access to more than 90 vacation club resorts across Marriott Vacation Club, Sheraton Vacation Club and Westin Vacation Club, along with access to over 8,000 Marriott Bonvoy hotels, 2,000 vacation homes and 2,000 experiences like cruises, culinary and guided tours, outdoor adventures, premiere events and more with the continuous ability to exchange through Interval International, the exchange partner. The company launched a video to introduce the program and a new website which offers an overview of available experiences, information on the benefits of vacation ownership, features of all the resorts and a blog with travel tips.