US performance bounces back: Hotel performance in the U.S. bounced back from last week after two consecutive weeks of low demand around the Fourth of July holiday, as per STR’s data through July 16.
- Occupancy: 72% (-7.4%)
- ADR: US$157.23 (+14.9%)
- RevPAR: US$113.28 (+6.4%)
Among the top 25 markets, only San Diego saw occupancy rising over 2019 (+1% to 89.9%). San Diego (89.9%), Oahu Island (87.2%) and Seattle (85.8%) led the major markets in absolute occupancy. Miami recorded the largest ADR gain (+29.9% to US$204.15). San Francisco was the only market where ADR fell (-4.1% to US$229.24). The steepest RevPAR deficits were recorded in San Francisco (-20.7% to US$168.69) and Minneapolis (-15.5% to US$100.84).
Wyndham, Palladium sign alliance: Wyndham Hotels & Resorts, Parsippany, New Jersey, and Ibiza, Spain-based Palladium Hotel Group have announced a commercial alliance which will add over 6,500 rooms to Wyndham’s Registry Collection. As part of the agreement, Palladium’s two all-inclusive luxury brands — Grand Palladium Hotels & Resorts and TRS Hotels — will join Wyndham’s Registry Collection brand. The 14 all-inclusive TRS and Grand Palladium properties managed by Palladium are located in Mexico, Jamaica, Brazil and Dominican Republic. The properties will become a part of Wyndham’s portfolio under a long-term agreement, bringing Wyndham’s all-inclusive resort portfolio to 26 hotels. The first four properties to join Registry Collection Hotels will be Grand Palladium Colonial Resort & Spa, Grand Palladium Kantenah Resort & Spa and Grand Palladium White Sand Resort & Spa in Riviera Maya (Mexico) and TRS Yucatan Hotel in Riviera Maya.
Prominence grows management: Chicago-based developer/manager Prominence Hospitality Group has added the IHG-branded Avid Hotel Zeeland (Michigan) to its third-party management portfolio. Situated in the submarkets of Grand Rapids and Holland, Michigan, the Avid hotel is owned by Michigan-based Zeeland Hospitality. Prominence now has 15 properties in its portfolio.
NewCrestImage acquires TownePlace Suites: NewcrestImage, Grapevine, Texas, has acquired the 135-all-suite TownePlace Suites Dallas Las Colinas in an auction through Ten-X. NewcrestImage will fully renovate the three-story hotel, which was last renovated in 2014. The hotel, which opened in 1998, features an outdoor pool and a fitness center. NewcrestImage has owned and operated 30 Marriott-branded properties since 2013.
Influencers’ conversations on travel costs: Twitter influencers’ discussions on inflation around travel-related topics saw a 250% quarter-on-quarter rise in the second quarter of 2022, amid travelers’ increasing concerns about inflation impacting airfares, accommodation and travel costs, according to the Social Media Analytics Platform of GlobalData. A significant increase in discussions was observed in the second week of June, when airfares increased by 37.8% month-on-month in May, while inflation in the U.S. reached its 40-year high, as per the U.S. Bureau of Labor Statistics. Most of the influencers felt travel demand is likely to come under pressure as consumers are expected to cut travel plans amid surging inflation, a depressed financial market and airfares.
Expedia’s new rewards program for travel advisors: Expedia Group has announced a new rewards program for advisors in its Travel Agent Affiliate Program (TAAP). Travel advisors in the U.S. can earn rewards on eligible bookings made through Expedia TAAP, with no minimum spending requirement. They can also redeem points and claim gift cards, track reward points balance and be eligible for more reward earning opportunities through promotions. One reward point will be earned for every dollar spent on lodging, with the points available for redemption one week after the trip is completed. The pilot program was in June 2021 to a select group of partners.
Consumer interest in inclusive travel: An increasing number of consumers are making travel choices based on how inclusive travel offerings are, revealed the Inclusive Travel Insights Report: Understanding Traveler Values & Opportunities for Marketers study released by Expedia Group Media Solutions. About 54% of consumers said they have seen options that are accessible to all abilities, while 52% said they have observed options which are inclusive to all types of travelers. Travel brands’ commitment to inclusion, accessibility and diversity are deciding factors in consumers’ purchasing decisions, with seven out of 10 respondents willing to pay more when making a travel choice which is more inclusive to all types of travelers. About 78% said they have made a travel choice based on promotions or advertisements which represented them through visuals or messaging. About 64% of consumers are interested in learning more about travel options which support local cultures and communities. Nearly two-thirds of respondents said they would choose a travel option which supports local communities and cultures, even if it was more expensive.
Leumi UK lends £34M to finance London deal: Leumi UK, the London-based bank, has provided a loan of £34 million (US$40.77 million) to Juniper Hotels Holdings Ltd. to finance the acquisition of the leasehold interest and refurbishment of an Edwardian Holiday Inn in central London. The refurbishment will reposition the hotel as an upscale boutique property and increase the number of rooms to 171. The loan is a latest in a series for the bank, the subsidiary of an Israeli financial institution, and Westmont Hospitality, a partial owner of Juniper Hotels.
Airbnb cofounder steps down: Joe Gebbia, the cofounder of Airbnb, has announced he will step down from his full-time role at the company to explore other projects and focus on being a father. He said he will continue to be on Airbnb’s board of directors and the company’s nonprofit arm, Airbnb.org. In a letter to employees, Gebbia said Airbnb was the only company he helped to build and “his brain is bursting with more ideas to bring to the world.” He would be working on other projects, citing philanthropic activities, documentary filmmaking and “a complementary product to Airbnb.”
Station Casinos buys 126 acres in Las Vegas: Station Casinos, Las Vegas, Nevada, has purchased 126 acres of land in Las Vegas for US$172.4 million. The sale, by developer Larry Canarelli, closed on Monday. This comes days after it announced plans to demolish three closed hotels in Southern Nevada. The casino operator owns vast tracts of land around the Las Vegas Valley which are stored for future resort plans. This newly acquired land gives the company more flexibility and options. Station Casinos operates Red Rock Resort, Green Valley Ranch Resort and more hotel-casinos.