From the desks of the Hotel News Now editorial staff:
- California led 2017 hotel sales in US
- Survey spotlights women’s perceptions of travel dangers
- Marriott CFO outlines company growth, future plans
- Jump in Hawaii tourism spikes ADR
- Midas Hospitality planning to raise $100m for growth
California led 2017 hotel sales in U.S.: According to data gathered by Atlas Hospitality Group in its 2017 year-end California hotel sales survey, California executed the most individual sales transactions of any state with 369, which is a 14.6% increase from 2016. The state also set a record for median price per room at $106,496.
Los Angeles County buoyed these numbers for the entire state, according to the survey.
Atlas forecasts California will continue to attract capital from international investors, namely from the Asia/Pacific region. However, potential hindering factors such as rising labor costs, increasing interest rates and hotel supply could continue to be issues for hotel buyers and sellers, Atlas reported.
Survey spotlights women’s perceptions of travel dangers: According to a recent study released by independent communications agency Eric Mower + Associates, women in the United States feel “uncomfortable or unsafe traveling solo.” The study polled 400 women in the U.S. on their perceptions of traveling alone.
Two in five women report they have experienced sexual harassment while they were travelling alone, which has resulted in more cautious trip planning.
“A full 80% of women have considered personal safety issues related to potential harassment or assault when planning a trip,” the survey said.
Marriott CFO outlines company growth, future plans: Marriott International EVP and CFO Leeny Oberg spoke with HNN’s Bryan Wroten in a video interview during this year’s Americas Lodging Investment Summit about the company’s achievements in 2017 and where it is headed.
“I think we’re particularly pleased with the combination of the success that we had in integrating the acquisition of Starwood and really making great progress there as well as business as usual,” she said. “So in addition to strong performance at the hotels and with RevPAR growth around the world, we also were able to make just terrific strides adding even more rooms to our pipeline.”
Jump in Hawaii tourism spikes ADR: Last year, Hawaii saw a record 9.3 million tourists, a 4.6% increase from 2016, and more visitors has translated into higher rates at hotels, the Los Angeles Times reports.
In 2017, average daily rate at Hawaii hotels rose to $264 per night, up $10 from 2016. It marked the sixth consecutive year in which ADR increased, the newspaper reports. Because of room tax that took effect on 1 January, visitors in 2018 will likely pay 1% more than they did in 2017.
Some of the tourism increase is due to the boost in flights from the U.S. mainland and Japan to Hawaii Island, according to the Hawaii Tourism Authority.
Midas Hospitality planning to raise $100m for growth: St. Louis-based hotel operator Midas Hospitality has plans to acquire and develop in key markets and raise $100 million to fund the projects, reports the St. Louis Post-Dispatch.
The markets Midas is targeting for expansion include Charlotte, North Carolina; Dallas; Atlanta; Denver; and St. Louis. So far, the company has raised approximately $5 million, the newspaper reports.
Since 2006, Midas has developed about $500 million worth of hotel properties spanning 14 states, with two projects underway in midtown St. Louis (the $25-million, 153-key Element by Westin and $28-million, 219-room Aloft Hotel.
Compiled by Dana Miller.