Based on a sample of more than 3,000 hotels from CBRE’s Trends in the Hotel Industry database, U.S. hotel property tax expenditures averaged $2,626 per available room (PAR) in 2022. This is 10.8% less than the $2,943 PAR recorded in 2019, before the COVID-19 pandemic. Concurrently, the earnings before interest, taxes, depreciation, and amortization (EBITDA) for these same properties fell by 1.7%.
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Key steps to building a high-impact training program for hotel staff
By Tanya Galton The front-line employees of a hotel are the first point of contact for the guests. They represent the hotel brand, and in many ways, the very first impression about your hotel or chain that your guests get depends on your line staff. Major psychology researches confirm that the first impression is the most important one for any business and is very hard to override. Imagine how … [Read More...]
SiteMinder: Return of international travel drives up U.S. hotel bookings for Christmas
DALLAS, Texas—Hotel bookings at American properties for the days leading up to Christmas, 21-25 December, are up 22% from last year, shows new data from SiteMinder, the world’s leading hotel distribution and revenue platform. International bookings are driving the surge, rising by over 15% annually to 32% of total bookings at American hotels this year, compared to 28% during the same … [Read More...]
CBRE: Growth forecast to improve in Q4
Despite facing challenges from subdued summer demand and a sluggish third quarter, U.S. hotel performance is expected to reaccelerate in the fourth quarter and extend into 2025, according to CBRE’s latest forecast. CBRE now forecasts a 0.5% increase in RevPAR growth for 2024, down from the previously estimated 1.2% in August. This revision reflects a 40 basis point (bps) decrease in expected … [Read More...]
Autumn Budget could cost independent hotels £750,000
Reading Time: 2 minutes UK: A recent survey by Best Western Hotel Group (BWH Hotels) UK has found that independent hoteliers face cost increases up to £750,000 as a result of the Autumn Budget. According to the survey, 91 per cent of hoteliers say that costs have surged since the Autumn Budget. Six out of 10 report an increase of more than 20 per cent, and more than one-third of hoteliers … [Read More...]
The Cheval Blanc Spa by Guerlain reopens with a brand-new look at Cheval Blanc St-Barth
Marking the 10th anniversary of Cheval Blanc St-Barth, the Spa has been completely reimagined by Guerlain with renowned architect Isabelle Stanislas. Hidden away in the Maison’s tropical gardens, surrounded by hibiscus flowers and resident tortoises roaming the undergrowth, the spa features five treatment rooms – including a VIP double suite, an outdoor … [Read More...]