The volume of hotel rooms currently being built in the United States hit its highest level in 16 months, according to CoStar’s latest June 2024 data. While globally, the real estate information and analytics company finds hotel construction has dropped or leveled...
Timm Hotel | Sep 20, 2024 | 5 min read
Household Spending Trends, Strength of the Economy Boosts Leisure Dema Runway for More Leisure Travel According to consumer surveys, projected leisure traveler spend in the next 12 months is "off the charts," Ryan said. "People want to be out there...
Timm Hotel | Jul 18, 2024 | 5 min read
The U.S. hotel industry reported improved performance results from the previous month, according to May 2024 data from CoStar. May 2024 (percentage change from May 2023): Occupancy: 65.7 percent (+1.5 percent) Average daily rate: $160.40 (+2.4 percent) Revenue per...
Timm Hotel | Jun 24, 2024 | 1 min read
Project Mid-T by Marriott conversions will cost between $15-30K per room with a “low bundled fee” of 10.5%. Note: This story first appeared in Travel Weekly NEW YORK CITY – Marriott International has released details about its new midscale brand, which is under...
Timm Hotel | Jun 6, 2024 | 2 min read
Wyndham Hotels & Resorts is launching its 25th brand through a new partnership with extended-stay company WaterWalk. The deal adds 11 hotels and more than 1,500 rooms to the Wyndham ecosystem, reflagging them under the newly-created upscale WaterWalk Extended...
Timm Hotel | Apr 8, 2024 | 2 min read
Cost increases plagued the nation's biggest hotel chains in 2023, with expenses like labor and insurance eating into margins. But a steady stream of leisure travelers and higher room rates helped the companies maintain profitability. On their fourth-quarter...
Timm Hotel | Mar 8, 2024 | 6 min read
The US Federal Reserve building is seen past caution tape in Washington, DC, on September 19, 2022. (STEFANI REYNOLDS/AFP via Getty Images) Holiday cheer never really infiltrated the US. commercial real estate finance sector. Entering the new year, the country’s...
Timm Hotel | Jan 22, 2024 | 9 min read
Hotel Outlook BCD projects average global hotel rates to increase by 6.8 percent year over year in 2024, according to the forecast. "Even as the pace of the recovery shows some signs of slowing, demand should continue to outpace available supply in many markets,"...
Timm Hotel | Dec 11, 2023 | 2 min read
U.S. hotel companies and real estate investment trusts reported higher revenues from groups booking rooms in the third quarter. Business Transient Demand Slow and Steady Many publicly traded U.S. hotel companies and real estate investment trusts reported a pickup...
Timm Hotel | Nov 30, 2023 | 9 min read
One of the biggest challenges for PIPs and renovations right now comes down to aligning project costs with scope. “It’s difficult to always put your thumb on what pricing for specific products will be in today’s market and then in the future, so it’s important to...
Timm Hotel | Oct 25, 2023 | 4 min read
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