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International Family Travel Is Back
by CoStar

‘A new survey from the Family Travel Association shows a strong rebound in international travel among families, with 81% of parents surveyed saying they are "likely to travel with their children in the next year."

Key findings of the survey include:
50% of parents plan to travel with both grandparents and children.
The top reasons for travel include beach vacations (54%), visiting family and friends (49%) and visiting cultural attractions such as museums (41%).
Summer is the most popular travel period for families, followed by spring break.
Typical hotels are the most used form of accommodations for families at 84%, followed by resorts at 50% and vacation rentals at 47%.

READ THE FULL STORY: https://www.costar.com/article/1945723855/international-family-travel-is-back

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Fall Brings Group, Business Travel Back
by CoStar

Group business is back, business-transient demand is boosting hotel average daily rates and U.S. cities are enjoying their comeback.
In the latest episode of "Tell Me More: A Hospitality Data Podcast," CoStar National Director of Hospitality Analytics Jan Freitag and STR Vice President of Analytics Isaac Collazo revel in the traditional high-performance period on the U.S. hotel industry calendar.
"We're seeing pretty darn good occupancies and ADR growth, especially since September," Collazo said. "We're getting more of the traditional business traveler back, and more of the convention traveler."
Freitag added that group room nights sold in September were only a little bit lower this year than in September 2019. That reinforces the idea of a more normal U.S. hotel trend line, where typically occupancy peaks before Halloween, then begins to dip through the end of the year.

READ THE FULL STORY: https://www.costar.com/article/482566046/fall-brings-group-business-travel-back

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Meet the Entrepreneur Championing Young Women As Hotel Investors
by CoStar

‘She Has a Deal’ Program Teaches Underwriting, Investment Steps and Connects Participants to Capital.



Prigmore’s goal: to raise the next generation of female hoteliers, bridge the gaps that make hotel investing unattainable for women, and provide aspiring commercial real estate investors with the tools to succeed that weren’t available to her.



“Our mission is to create new pathways to hotel ownership and development for women. Increasing the number of women owning and developing hotels is inherent in that, but I say ‘new pathways’ because the way others have gotten there in the past is not necessarily how we're going to get there now, so let’s identify our barriers and take them down.”



While women make up 70% of the tourism and hospitality workforce, they only make up 10% of hotel development roles, according to data from Wyndham Hotels & Resorts.



It was the inception of She Has a Deal, which Prigmore launched in 2019.

The signature She Has a Deal program is broken down into three major segments: education, mentorship and an annual hotel pitch competition.

READ THE FULL STORY: https://www.costar.com/article/761017981/meet-the-entrepreneur-championing-young-women-as-hotel-investors?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8s1MSkuazeRWZgF6UMjlQMyPHD_rON5u-KR2TkMIajK1JNvWoL6N68cA-Tyew5-X-b7xod

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Formula One Grand Prix Lifts Austin Hotel Demand; Las Vegas, NYC Hotels Achieve Nearly 90% Occupancy

A “normal” week, in which comparisons were not skewed by the timing of holidays or religious observances, affirmed just what the new normal is for U.S. hotels this time of year: softer occupancy overall, revenue gains driven by higher rates, and rising demand from business and group travelers.

The third part of that equation is evidenced by stronger occupancy on the weekdays than on the weekend, as well as a larger number of hotel room nights booked at higher-end hotels and in the largest hotel markets.

Groups booked 2.3 million rooms at luxury and upper-upscale hotels, the highest level since the start of the pandemic and just 27,000 rooms shy of the same week in 2019. Year over year, group demand grew 1%, and week over week, it grew 7.9%. Groups paid an average daily rate of $266, up 5.9 percentage points week over week and 1.9 percentage points year over year. The top 25 markets posting the greatest year-over-year group occupancy increases included Seattle, Atlanta, Philadelphia and Oahu. Upper-upscale class hotels, which are most likely to host group events, posted their third-highest room demand since early March 2020.

Meanwhile, total U.S. hotel industry occupancy for the week was 69%, up half a percentage point from the previous week but down a little more than that compared to last year. It marked the third week in a row that occupancy has declined year over year, and that decline is being driven primarily by lower demand for economy hotels. On the upside, ADR increased 3.8%, its fifth consecutive week above 3%, resulting in a 2.9% gain in revenue per available room.

Read the full story: https://www.costar.com/article/815416924/groups-business-travelers-events-continue-to-drive-weekly-us-hotel-performance?utm_source=newsletter&utm_medium=email&utm_campaign=hospitality&utm_content=p3