All posts in "Hotels"

Eldorado Resorts and Caesars Entertainment Complete Merger

September 17, 2020

Caesars Entertainment, Inc. (“Caesars,” “Caesars Entertainment”, or the “Company”, formerly known as Eldorado Resorts, Inc. or “Eldorado”) announced that it completed its acquisition of Caesars Entertainment Corporation (“CEC”). The transaction creates the largest casino and entertainment company in the U.S. The transaction further enhances Caesars’ position as the leading regional and destination gaming operator in […]

Midas Hospitality to Open St. Louis’ First Element by Westin

September 16, 2020

Leading hotel development, management and investment firm Midas Hospitality is set to open St. Louis’ sole eco-conscious Element by Westin on Oct. 30. Located at 3763 Forest Park Ave., the $40 million Element St. Louis Midtown is a seven-story hotel with 153 extended stay rooms. The rooftop UPBAR—Midas Hospitality’s first owned and operated bar in […]

Hotel Occupancy Rises to 69.0% During First Week of September

September 11, 2020

Boosted in part by Labor Day weekend, U.S. hotel occupancy increased slightly over the previous week, according to the latest data from STR. 30 August through 5 September 2020 (percentage change from comparable week in 2019): Occupancy: 49.4% (-18.9%) Average daily rate (ADR): US$100.97 (-17.1%) Revenue per available room (RevPAR): US$49.87 (-32.8%) Hotel demand grew to […]

Hotel Occupancy Slightly Decreases for Second Week in a Row

September 3, 2020

U.S. hotel occupancy decreased slightly for the second consecutive week, according to the latest data from STR. 23-29 August 2020 (percentage change from comparable week in 2019): Occupancy: 48.2% (-27.7%) Average daily rate (ADR): US$98.39 (-23.2%) Revenue per available room (RevPAR): US$47.38 (-44.5%) The industry sold 237,000 fewer room nights than the previous week, which […]

Hotel Occupancy Moves Further From 50% Occupancy in August

August 28, 2020

As U.S. hotel occupancy almost approached 50%, it fell to a three-week low during the period of 16-22 August, according to the latest data from STR. 16-22 August 2020 (percentage change from comparable week in 2019): Occupancy: 48.8% (-30.3%) Average daily rate (ADR): US$100.08 (-22.7%) Revenue per available room (RevPAR): US$48.81 (-46.1%) The prior week, […]

Hotel Industry Moves Closer to 50% Occupancy in July

August 26, 2020

U.S. hotel gross operating profit per available room (GOPPAR) reached positive territory for the first time since February, according to STR‘s latest monthly P&L data release. In a year-over-year comparison with July 2019, the industry reported the following: GOPPAR: -93.3% to US$5.74 TRevPAR: -74.1% to US$60.04 EBITDA PAR: -115.1% to US$-9.24 LPAR (Labor Costs): -64.8% […]

U.S. Hotels Reach 50% Occupancy During Second Week of July

August 20, 2020

U.S. weekly hotel occupancy hit 50.0% for the first time since mid-March, according to the latest data from STR. 9-15 August 2020 (percentage change from comparable week in 2019): Occupancy: 50.2% (-30.0%) Average daily rate (ADR): US$101.41 (-23.0%) Revenue per available room (RevPAR): US$50.87 (-46.1%) U.S. occupancy has risen week over week for 17 of […]

The Hotel Industry is Facing a Historic Wave of Foreclosures

August 18, 2020

A new national report shows that the hotel industry is facing a historic wave of foreclosures as the COVID-19 pandemic continues to devastate small business hotel owners and its workforce. Since the beginning of the pandemic, the hotel segment has faced a historic number of delinquencies and is the most heavily hit sector of the commercial […]

To Meet in Person or To Meet Virtually… How About a Hybrid Meeting at The Marriott St. Louis Airport?

August 18, 2020

By Astrid Zeppenfeld These last few months have been trying, to say the least. Early precautions related to a novel virus that made its way around the world in a matter of weeks led to statewide shutdowns of many businesses rather quickly. Everything from small barbershops to multi-million-dollar corporations took a hit, but perhaps no […]

Branson: Missouri’s Destination City

August 18, 2020

By Anita K. Parran Nestled in the Ozark Mountains is one of the most popular destinations in Missouri for families, companies, and all visitors to the area. Lynn Berry, Director of Communications for the Branson/Lakes Area Convention and Visitors Bureau describes it best. “The natural beauty of the mountains and lakes, the unexpected levels of […]