STR has come out with the latest weekly data for the United States and Canada.
U.S.: The luxury segment achieved the largest average daily rate increase among the chain-scale segments for the week of 26 December-1 January 2011, according to data from STR.
The segment’s ADR increased 8.4% to US$343.35.
Overall the industry’s occupancy increased 4.2% to 47.4%, ADR was up 2.3% to US$102.76, and revenue per available room finished the week up 6.6% to US$48.75.
Canada: The Canadian hotel industry reported mixed results in the three key performance metrics for the week of 26 December 2010-1 January 2011, according to data from STR.
In year-over-year measurements, the Canadian hotel industry’s occupancy was up 4.3% to 41.3%. ADR decreased 1.6% to CAD$118.87 (US$119.61). RevPAR increased 2.4% to CAD$49.05 (US$49.35).
HotelNewsNow.com contributor Carlo Wolff took a detailed look at the growth of budget brands in China.
Leading domestic brands Home Inns, Jin Jiang Inns, 7 Days Group and China Lodging Group will open hotels throughout China, focusing on second-tier and third-tier cities, such as provincial capitals. By the end of 2011, if their plans pan out, they will be some of the biggest brands in the world.
Real-estate investment trusts will face more competition for assets this year, but the REITs should again lead the buying during 2011.
More debt flowing into the industry will make it easier for other groups to acquire properties, but REITs’ financing flexibility still gives them an edge.
“People are mostly over their fears of a double-dip,” FelCor Lodging Trust CEO Rick Smith said. “I look for 2011 to be an up year.”
For those ski enthusiasts out there, you have a new resort brand to consider: Snotels.
Snotels, a new midmarket hotel brand (2- to 4-stars) that aims to “create altitude, experience and freedom for snoteliers and guests,” is gearing up to enter mountain markets such as France, Switzerland, Colorado, British Columbia and California, according to founder and director Michael Metcalfe, reports HotelNewsNow.com’s Stacey Mieyal Higgins.
Seasonally adjusted initial claims for unemployment rose by 18,000 to 409,000 for the week ending 1 January 2011, according to the U.S. Department of Labor. http://www.dol.gov/opa/media/press/eta/ui/current.htm
The four-week moving average, however, fell by 3,500 to 414,250.
Compiled by Shawn A. Turner.