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Minimum Room Rates a needed market push: Hiran Cooray Jetwing Hotels Chief Hiran Cooray defended the Minimum Room Rates (MRR) as a necessary market push under the current environment for Colombo City hotels to return to profitability while increasing earning capacity for  their employees. “You try to market a hotel and see, it’s not easy. People don’t have the confidence, and when there is fear, you don’t necessarily go out and sell at a higher price. That’s why it’s necessary for someone to come and push it up. Finally, hotels are making money, do you want to stop that? ” Cooray questioned. He pointed out that MRR which came into effect from 1 October last year has not only supported hotels to return to profitability, but also their employees to increase their income in service charges, averaging up to around Rs.70,000-80,000 per month. #SriLanka #Tourism #Colombo #Jetwing #CityHotels #Hotels https://lnkd.in/g8wjdsgd

ADR gains driven by the continued strength of upper-tier #hotel segments “offers a redeeming trend” for the industry in 2025, which is set to see muted supply and demand growth, according to PwC. #hotels #hoteltrends

Intercontinental Hotel Group's growth rate halved during the third quarter amid continued struggles in the Chinese market. The Holiday Inn owner reported that revenue per available room (RevPAR) rose by only 1.5 per cent year-on-year in the three months ending September, compared to 3.2 per cent in the previous quarter.

Navigate the Pendulum Effect in Spanish Hospitality! 🗺 Get on top of the new and dynamic changes in hotel rates post-pandemic and how to adapt your pricing strategies effectively. Our latest post covers: 🔍 The unprecedented growth in Average Daily Rates (ADR) 📊 Key factors driving these changes in the Spanish hospitality market 🔧 Strategies for hotels to dynamically adjust prices and maximize revenue Dive deeper into these insights and prepare your hotel for future market shifts. Read more here: https://bit.ly/4ca4DAp

In its latest U.S. Hospitality Directions report, professional services company PwC forecasted that ADR and RevPAR will increase through 2024, up 1.2% and 2.2%, respectively.  Despite “contracted” hotel demand in the first quarter of the year, PwC predicted demand growth will resume in Q2, resulting in 63.6% occupancy for 2024, up slightly from its November forecast.  PwC maintains its November outlook that economic headwinds and geopolitical tensions, as well as changing traveler behavior, will impact hotel performance in 2024 and beyond. Despite those factors, “marginal growth” in domestic hotel occupancy, room rates and RevPAR is expected in 2025, according to the company.

PwC forecasts that the U.S. lodging sector will experience muted growth in 2025, driven by moderate ADR increases and stable occupancy levels. The continued strength of upper-tier chain scales will drive the expected ADR growth in 2025. Article courtesy Hoteldive #hotels #hospitality #hotelbroker DM me for a no obligation #BOV (Brokers Opinion of Value) for your hotel.

In its financial results for the second quarter of 2024, Minor Hotels showcased a strong performance that saw quarterly revenues climb 11% year-on-year, continuing its double-digit growth. Read more: https://lnkd.in/d6_hvcsQ #hotelierindia #hospitalityindustry #hospitalitytrends #financials #minorhotels #secondquarter Minor Hotels

Our team at Lighthouse has just released our latest report 📊 📈 on global hotel pricing trends for 2024 with some actionable strategies for 2025. While the report covers key trends and insights from around the world (including pricing benchmarks for different hotel categories and regions), the key to success lies in ⏩ remaining agile, data-driven, and market-specific in the approach. As the hospitality industry continues to evolve, it's more important than ever to stay up to date with the latest trends and data. Our report can help you do just that. 👉 Check out our blog post for more information and to download the full report: https://lnkd.in/eyhekwmH #hospitalityindustry #hotelpricing #dataanalysis #Lighthouse #travelindustry #trends #globaltrends #hotelindustry #hospitalitytrends

Hotel occupancy, ADR and RevPAR will rise this year and into 2025 even as “economic uncertainty and geopolitical tensions” continue, according to a new PwC outlook. "Since our last issue of Hospitality Directions US in November, we’ve seen two additional quarters of decline in hotel occupancies, for a total of four, but expect to see a gradual rebound [in] the balance of this year and into next, off of easier comps,” Warren Marr, U.S. hospitality and leisure managing director at PwC, said. #hotels #revpar #occupancy #hospitalityindustry

📈 Global Hotel Rates Show Moderate Growth: What This Means for the Industry 🌍 As we navigate an evolving hospitality landscape, it's encouraging to see global hotel rates beginning to rise at a more moderate pace. This shift reflects a stabilizing market, offering a balance between recovery and sustainable growth. For industry professionals, it’s an opportunity to reassess pricing strategies and further align value with guest experience. With 14 years in the hotel industry, I've witnessed first-hand how vital it is to maintain agility in response to these market trends. The key now lies in leveraging data, optimizing revenue streams, and continuing to deliver exceptional service to stand out in a competitive space. How is your organization adapting to these changes? Let’s exchange insights! #Hospitality #RevenueManagement #BusinessTravel #HotelIndustry #SustainableGrowth