the source for hotel and hospitality trends
The International Air Transport Association (IATA) announced global passenger traffic data for October 2019 showing that demand (measured in total revenue passenger kilometers or RPKs) climbed 3.4% compared to the year-ago period. This was a modest slowdown from 3.9% growth recorded in September, owing to softer traffic performance in domestic markets.
During the week of 24-30 November, U.S. hotel occupancy dropped 11.6% to 50.6%, ADR fell 6.7% to $112.28 and RevPAR declined 17.5% to $56.83.
Canadian hotel occupancy fell 5.1% to 59.3% during the week of 24-30 November, and a 2.1% ADR decline to 144.35 Canadian dollars ($109.67) drove RevPAR down 7% to CA$85.63 ($65.06).
STR projects average daily rate between $520 and $540 for Super Bowl weekend in Miami in 2020.
In our most recent review, we found that equity yield rates, on average, have shown a continued trend of decline in the full-service and luxury hotels sector, as well as the lower-tier limited-service sector, with the select-service and upscale limited-service sector showing stability.
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased by 3.5% in October 2019, compared to the same period in 2018. This marks a weak start to the traditional peak season for air cargo and the twelfth consecutive month of year-on-year declines in freight volumes.
Turkish Airlines Ranks Highest in Overall Satisfaction among Airlines Flying to Europe; Japan Airlines Ranks Highest among Airlines Flying to Asia
If travel plays its cards right, it will harness the acceleration of AI to achieve an end-to-end customer experience, direct revenue and a reawakening of loyalty.
As for most industries, it’s important for the hotel industry to adapt to the digital age in order to remain successful, especially with the expansion of people searching for the best hotel deals online. To remain competitive means constantly being up to date with the latest digital marketing trends.
Today, everyone is talking about the term coworking. The business is thriving, different styles and forms are developing. New players are entering the market. At the same time, more and more synergies and complements are being recognized between coworking and hospitality.