The National Football League’s Super Bowl is providing a big boost to hotel performance in host city New Orleans, where hoteliers are projecting significant increase in demand, according to a report from Patrick Mayock. Committed occupancy and average daily rate are up 51% and 126.9%, respectively, for the Friday-to-Monday period this weekend, according to TravelClick.
ADR increases in the most recent three host cities—Indianapolis, Indiana; Fort Worth-Arlington, Texas; and Miami—have ranged from double- to triple-digit increases, according to STR, parent company of HotelNewsNow.com.
Thailand’s major hotel markets recorded robust investment activity during 2012, according to Jones Lang LaSalle Hotel’s “Spotlight on Thailand – Hotel Investment Market” report. Phuket, in particular, saw four major hotel transactions of over 1 billion Thai baht ($34 million) each.
The last hotel transaction recorded in Phuket was the sale of the Bundarika Villas & Suites on Layan Beach for approximately 1.1 billion Thai baht ($37 million), which includes redevelopment and acquisition costs. The other three transactions include The Movenpick Resort & Spa Karon Beach, The Evason Phuket Resort & Bon Island and Laguna Beach Resort, with combined value in excess of 8 billion Thai baht ($268 million). The Movenpick Resort & Spa Karon Beach was the largest hotel transaction recorded in Thailand in 2012 at 2.87 billion Thai baht ($96 million).
Another Asia/Pacific-focused report from Amadeus has identified the geopolitical, social, economic and technological trends that will have the greatest impact on the region’s travel industry during the next 20 years:
The “me” effect: The travel market is fragmenting into ever-increasing niches, which marks a stark contrast from the group leisure packages that dominated the regional industry in years past.
The “red tape” effect: Greater economic convergence and integration across the region will gather pace and governments will continue to liberalize the regulations that have impeded trade and associated travel.
The “leapfrog” effect: Technology, infrastructure and behaviors in the Asia/Pacific region will leapfrog ahead of those elsewhere.
The “barbell” effect: As economic growth and greater integration occurs, travelers will tend to become more extensive at the upper and lower ends of the economic spectrum.
While social media is still primarily a hotel marketer’s game, the use of platforms including Facebook and TripAdvisor has begun to wriggle its way into the due diligence process for investors who are trying to gain further insights about potential acquisitions, reports HotelNewsNow.com’s Alissa Ponchione.
“When we’re looking at new investments and existing assets, we’re looking at how aggressive that hotel has been (on social media), how that hotel is really engaged with the consumer (on social media) and what the consumer is saying about that asset,” said Mit Shah, CEO of Noble Investment Group.
But while sources said social media has become a great resource, it in no way replaces the traditional fact-finding process.
Hotels in Anaheim-Santa Ana, California, reported the largest occupancy and revenue-per-available-room increases during the week of 20-26 January 2013, according to data from STR. The market’s occupancy rose 16.4% to 74.7% and its revenue per available room jumped 34.5% to $96.87. Properties in Anaheim also experienced a double-digit gain in ADR, increasing 15.6% to $129.64.
Overall, the U.S. hotel industry’s occupancy was up 0.6% to 54%, its ADR rose 4.4% to $106.31 and its RevPAR increased 5% to $57.42.
Compiled by Patrick Mayock.