? Time is ticking! Don’t miss your chance to secure the special room rate for #CAQHConnect at the JW Marriott in Washington, DC, from September 25-27. The exclusive room rate expires this Friday, September 13! Don’t wait—lock in your spot and get the link to secure your stay today. Register: https://bit.ly/3xRCFui
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As higher interest rates keep deal underwriting difficult, the bid-ask spread continues to be elevated. Owners with strong operating histories encountered buyers looking for distress, and neither side was willing to give in 2023. Read our newsletter to find out more about how the start to the new year has been so far for the US hotel sector here - https://lnkd.in/dxEsj3Ni Vivek Shah Ronak Gajaria #hotelvaluation #ushotelvaluation #uslodging #ushotels #hotelappraisals #hoteltaxsavings #ushoteltaxappeals #knavus #beyondbetter
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From the article: “In a traditional price-fixing arrangement, rival executives gather in a smoke-filled room to rig rates. In the modern version, competitors do not need to talk. Instead, companies who ordinarily would compete send their internal data to a third party. The third party then uses an algorithm to advise the companies on the "optimal" prices to charge customers. “ “Although the mechanism is different, the outcome is the same; customers pay significantly higher prices than they would in a truly competitive market. “ “An ongoing federal lawsuit filed last year alleges that many of Atlantic City's casino-hotels, including Caesars, Harrah's, Tropicana, Borgata, and Hard Rock, are "engaging in an ongoing conspiracy to fix, raise, and stabilize the prices" of rooms. Collectively, these properties control about three-quarters of the rooms in Atlantic City. According to the lawsuit, the casino-hotels conspire through the use of "a shared pricing algorithm platform," Cendyn”
How hotels are colluding to jack up room rates, according to two lawsuits
popular.info
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HOSPITALITY SECTOR WITH ADVANTAGEOUS ROI FOR LED CUBES. In the hospitality sector, bars, and nightclubs that prioritize creating unique and engaging environments are likely to see an advantageous ROI with LED cubes. Here are some specific types of establishments: https://ledcubes.com/
Re: - 28 July 2024
https://www.loom.com
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Ready to be able to manage reservations effectively?? Want to be able to optimise seating arrangements?? Have a streamlined system?? ? Learn more about Guestline F&B here:?https://lnkd.in/ey29Tm_z
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?? According to STR for the week of February 11-17, 2023, the U.S. hotel performance shows: ?? Occupancy decreased by -2.5% from 2023 to 59.2%. ?? The average daily rate increased by +4.2% over 2023, to $162.24. ?? Revenue per available room increased by +1.6% from 2023 to $96.10. ?? Among the Top 25 Markets: The largest YOY occupancy increase was posted by: ?? Boston increased +14.6% to 64.7%. ?? New Orleans increased +14.6% to 75.7%, thanks to Mardi Gras. Due to Super Bowl LVIII, Las Vegas posted the highest increases in ADR and RevPAR. ?? ADR increased +76.7% to $318.88. ?? RevPAR increased +81.4% to $257.72. Last year, Phoenix hosted the Super Bowl. This year, we saw a YOY decrease of -21.6% to $173.63. ?? Notably, Las Vegas weekly occupancy increased by 2.7% to 80.8% and topped 80% on Sunday. And its ADR was higher than $800 on Sunday. Read more here: https://bit.ly/435JKmq #TheHotelBroker
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?? According to STR for the week of February 11-17, 2023, the U.S. hotel performance shows: ?? Occupancy decreased by -2.5% from 2023 to 59.2%. ?? The average daily rate increased by +4.2% over 2023, to $162.24. ?? Revenue per available room increased by +1.6% from 2023 to $96.10. ?? Among the Top 25 Markets: The largest YOY occupancy increase was posted by: ?? Boston increased +14.6% to 64.7%. ?? New Orleans increased +14.6% to 75.7%, thanks to Mardi Gras. Due to Super Bowl LVIII, Las Vegas posted the highest increases in ADR and RevPAR. ?? ADR increased +76.7% to $318.88. ?? RevPAR increased +81.4% to $257.72. Last year, Phoenix hosted the Super Bowl. This year, we saw a YOY decrease of -21.6% to $173.63. ?? Notably, Las Vegas weekly occupancy increased by 2.7% to 80.8% and topped 80% on Sunday. And its ADR was higher than $800 on Sunday. Read more here: https://bit.ly/435JKmq #TheHotelBroker
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I'll be there, will you? Reach out if you want to connect about the panel on GenAI or how you can set up a strategy to become more data informed! #hospitality #genai #HOTELDATA
The 16th annual Hotel Data Conference is just one month away! Get ready to hit the road and join fellow hospitality leaders for an incredible event in Nashville. It all kicks off with our opening reception on Wednesday, August 7th. We’ll see you soon!
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Don't miss out on this one! This is a very unique opportunity to network and learn more about accessing funding for affordable housing, rural development, transportation, brownfields, renewable energy, infrastructure, agricultural finance, trends in the bond market, changes to SSBCI programs and much more. #cdfa, #sustainabilitygoals #sustainability #supplierdiversity #economicdevelopment #developmentfinance #funding #bondmarket #bonds #learning #ssbci #smallbusinessowner #minorityownedbusiness #cleanenergy #networking
The 2024 CDFA Federal Policy Conference is right around the corner, and rooms are filling up fast! The event will be held at the Washington Marriott Georgetown Hotel, and to make your stay worry-free, CDFA has arranged a significantly reduced room rate of $274 (plus tax and service fees). Hotel rooms are available at a reduced rate if reservations are made before Monday, March 4, or until the block fills, so reserve your room now! https://lnkd.in/g3nm2bdu Check out our packed agenda and register for the conference today! https://lnkd.in/dz53tXnQ
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Ready to be able to manage reservations effectively?? Want to be able to optimise seating arrangements?? Have a streamlined system?? ? Learn more about Guestline F&B here:?https://lnkd.in/ey29Tm_z
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