Denver achieved the largest increases in average daily rate and revenue per available room during the week of 17-23 July 2011, according to data from STR, the parent company of HotelNewsNow.com.
The market’s ADR rose 17.2% to US$116.74 and its RevPAR increased 32% to US$107.13. Denver’s occupancy was up 12.7% to 91.8%.
Overall, the U.S. hotel industry’s occupancy rose 2.2% to 73.4% its ADR increased 3.7% to US$103.71, and RevPAR finished the week up 6% to US$76.11.
• Read “Denver leads ADR, RevPAR weekly increases.”
Meantime, The Canadian hotel industry reported increases in all three key performance metrics for the week of 17-23 July 2011, according to data from STR.
In year-over-year measurements, the Canadian hotel industry ended the week with a 2.5% increase in occupancy to 74.6%, ADR rose 0.5% to CAD$130.53 (US$137.75) and RevPAR increased 3% to CAD$97.40 (US$102.77).
• Read “STR: Canada performance week ending 23 July.”
During his first interview as president of the Americas region for InterContinental Hotels Group, Kirk Kinsell, most recently serving four years as president of the Europe, Middle East/Africa region for IHG, said his time abroad offered a different point of view.
“If the perspective is, ‘We don’t know what we don’t know’ and you don’t know your blinders until they’re pointed out, then hearing diverse views and working in a distinctly different environment and framework helps open up your mind,” he said. “You hone your listening skills.”
He also offered insight into the Holiday Inn branding and growth strategy.
• Read “Kinsell returns to US with global perspective.”
The U.S. lending markets are shut down as lenders eye the approaching deadline to raise the country’s debt ceiling, reports HotelNewsNow.com’s Shawn A. Turner.
Lenders are having difficulty gauging property values because of the debt ceiling uncertainty, said Joel Ross, principal of Citadel Realty Advisors.
“The market’s closed,” he said, adding, “What the hell’s a treasury worth? No one knows what anything is.”
• Read “US lending ‘closed’ as debt deadline nears.”
The best revenue managers are those who can not only mine the most data but those who can present it in the simplest way to support organizational goals, reports HotelNewsNow.com’s Patrick Mayock.
So concluded a panel of experts during a HSMAI University webinar Tuesday titled “How will you measure your success?” co-hosted by HotelNewsNow.com and STR.
“When we look at measuring success, we are all very data-driven. We have to realize that not every person who looks at data looks at it in the same way,” said Klaus Kohlmayr, senior director of consulting for IDeaS.
• Read “Defining success in revenue management.”
Starwood Hotels & Resorts Worldwide reported second quarter results this morning.
Worldwide RevPAR for Starwood branded same-store owned hotels increased 18.5% (12.5% in constant dollars) compared to 2010. RevPAR for Starwood branded same-store owned hotels in North America increased 10.8% (8.7% in constant dollars).
Net income was US$131 million and 68 cents per share in the second quarter of 2011 compared to US$114 million and 61 cents per share in the second quarter of 2010.
• Read “Starwood Q2 earnings per share up 43%”
Compiled by Stacey Higgins.