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Q2 2019 shows ‘negative’ results for APAC hotel performance

By ASAP Newsdesk On 26th July 2019 · Add Comment · In APAC, Breaking News, Global News, Trending News
New data from STR, which samples more than 65,000 hotels and 8.8 million hotel rooms around the globe, reveals that hotels in the Asia Pacific region showed negative results across the three key performance metrics during Q2 2019. Occupancy, ADR and RevPAR are all down, the last falling 1.6% to US $67.25. May performed worst [...]
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Red Roof adds an economy extended stay brand

By ASAP Newsdesk On 21st August 2018 · Add Comment · In Americas, Breaking News, Extended Stay, Global News, Trending News
Occupancy, ADR and RevPAR for extended stay hotels in the US have continued to grow, despite the addition of 30,000 new rooms in the first half of this year. In response to this, Ohio-based Red Roof is adding HomeTowne Studios and Home Town Studios by Red Roof to its portfolio, spending over $50 million converting 30+ existing hotel [...]
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London hotel sector enjoys ‘Record-breaking performance’ in July

By ASAP Newsdesk On 10th August 2018 · Add Comment · In ASAP Business Partners, Breaking News, Front Page, STR Global, UK News
According to ASAP Business Partner STR, due to the heatwave and events such as Wimbledon and London Pride July saw record-breaking ADR and RevPAR across London’s hotel sector, even beating the levels achieved for the opening days of the London 2012 Olympics. Occupancy was up 4.0% to 91.2%, ADR up 4.7% to £171.25, and RevPAR up 9.0% [...]
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ASAP & STR: UK serviced apartments H1 2018 – slight occupancy decline, rate growth

By ASAP Newsdesk On 26th July 2018 · Add Comment · In ASAP Business Partners, ASAP News, Breaking News, Front Page, STR Global, Trending News
H1 2018 performance results for the UK serviced apartment sector showed a marginal 0.6% decline in occupancy to an actual level of 79.0% and a 1.2% increase in ADR (average daily rate) to GBP140.28, resulting in a 0.6% increase in RevPAR (revenue per available room) to GBP110.84. In terms of individual city performance, London’s occupancy [...]
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A fall in UK hotels average daily rate for the first time since October 2016

By ASAP Newsdesk On 25th June 2018 · Add Comment · In ASAP Business Partners, Breaking News, STR Global, Trending News, UK News
According to new data for May from ASAP Business Partner STR, UK hotels recorded the first drop in ADR for 19 months, a decline of 0.8% to £93.31, despite a 2% increase in supply outpacing a 1.4% growth in demand. RevPAR was also down 0.3%, to £74.47, despite a rise in occupancy of 0.5%. Hotel [...]
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CBRE on what’s new with extended-stay hotels

By ASAP Newsdesk On 14th June 2018 · Add Comment · In Americas, Breaking News, Global News, Trending News
Commercial real estate services firm CBRE has released its most recent analysis of the extended-stay hotel segment, looking at occupancy, ADR, revenues and profits, and the differing performance of upper- and moderate-priced properties, using its annual “Trends in the Hotel Industry” survey 2010-2017 figures. The main points include: Compound annual growth rates in revenue and [...]
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Positive outlook for North American hotels during Q2 2018

By ASAP Newsdesk On 30th April 2018 · Add Comment · In Americas, Breaking News, Global News, Trending News
According to TravelClick’s April North American Hospitality Review , hoteliers in North America are seeing bookings are up by 2.7% and ADR up 2.5% in the second quarter of 2018, with group bookings up 7.5% on last year. Forecast for the next 12 months, group bookings will rise 1.2% with group ADR up 3.1%. Read [...]
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ASAP & STR: UK occupancy marginally down Q1 2018, but operators remain positive

By ASAP Newsdesk On 30th April 2018 · Add Comment · In ASAP Business Partners, ASAP News, Breaking News, Front Page, STR Global
ASAP Business Partner STR’s Q1 results for the UK serviced apartment sector confirm that it has been a more challenging start to the year, with occupancy for the UK as a whole down 1.5% to 74.9% compared with Q1 2017. Meanwhile, average daily rate (ADR) rose 3.5% to GBP133.87, resulting in a 1.9% growth in [...]
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PwC forecasts weaker growth for next two years

By ASAP Newsdesk On 8th March 2018 · Add Comment · In UK News
PwC’s latest UK hotels forecast offers a range of headline findings. It predicts a more modest outlook for 2018 and 2019, due to continuing Brexit uncertainty and the weak pound having less effect; The outlook for London remains positive but slower growth expected at 0.4% this year; ADR will only grow by 0.2% to £149, [...]
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UK serviced apartment sector achieves strong 81.7% occupancy level in 2017

By ASAP Newsdesk On 1st February 2018 · Add Comment · In ASAP Business Partners, ASAP News, Breaking News, Front Page, Serviced Apartments, STR Global
The UK serviced apartment sector posted strong performance growth in 2017, according to ASAP and Business Partner STR, with London and Edinburgh accounting for much of this. Based on STR’s year-end performance figures, UK serviced apartments recorded an actual occupancy level of 81.7%, a 0.2% increase over 2016. Meanwhile, average daily rate (ADR) rose 5.4% [...]
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