Latest news with #hotelgrowth
Travel Daily News
3 days ago
- Business
- Travel Daily News
CoStar, Tourism Economics downgrade U.S. hotel forecast through 2026
CoStar and Tourism Economics lowered 2025–26 U.S. hotel growth forecasts, citing weaker demand, higher costs, and cautious consumer sentiment. WASHINGTON – CoStar and Tourism Economics downgraded growth projections in a revised 2025-26 U.S. hotel forecast just released at the NYU International Hospitality Investment Forum. Given Q1 underperformance and elevated macroeconomic concerns, forecasted growth rates were lowered across the top-line metrics: supply (-0.1 ppts), demand (-0.6 ppts), ADR (-0.3 ppts) and RevPAR (-0.8 ppts). Similar adjustments were made for 2026: supply (-0.5 ppts), demand (-0.3 ppts), ADR (-0.7 ppts) and RevPAR (-0.6 ppts). 'Top-line performance is still growing even in the current environment,' said Amanda Hite, STR president. 'Until consumer confidence improves, however, demand is going to remain softer—especially in the middle and lower price tiers. Rate is pushing the top line in the group segment, and business transient should continue to recover in a lot of industries, but leisure gains are going to be more isolated. Our forward-looking data continues to support the observations of many industry stakeholders that booking windows have shortened. That adds to the challenges hoteliers will face in the coming quarters.' 'We're looking ahead to a second half of the year with consumers facing higher prices and a weaker labor market, businesses tapping the brakes on investment, and soft international visitor volumes,' said, director of industry studies at Tourism Economics. 'While recession risks have eased, the economy – and the travel sector – will walk on a tight rope through this period.' The projection for gross operating profit per available room (GOPPAR) was also lowered $3 for 2025. 'While GOP growth will continue, the pace will be modest due to softer demand, rising departmental costs, and limited margin gains from ancillary revenues,' Hite said. 'When adjusted for inflation, GOP is down from last year.'
Al Bawaba
27-05-2025
- Business
- Al Bawaba
Hyatt's Brand Footprint in Africa Set for 50% Rooms Growth by End of 2030
Hyatt ( announced that Hyatt expects around 50% rooms growth across new and existing markets in Africa by the end of 2030. In the past two years, Hyatt saw 51% rooms growth in Africa, fueled by the addition of several milestone properties and first-time brand entries. These included Park Hyatt Marrakech, introducing the luxury brand to Morocco; Hyatt Centric Cairo West, the brand's debut on the continent; Hyatt Regency Harare – The Meikles, Hyatt's first hotel in Zimbabwe; and Hyatt Regency Nairobi Westlands, its first hotel in Kenya. Most recently, in March 2025, Hyatt Place Nairobi Westlands and Hyatt House Nairobi Westlands opened along Lower Kabete Road. This marks Hyatt's first dual-branded development in Africa, offering guests two distinct stay experiences under one roof, just minutes from Westgate Mall, the Nairobi National Museum, and Karura Forest. 'Last year marked a breakthrough year for Hyatt in Africa, and we're just getting started,' said Stephen Ansell, Managing Director, Hyatt, Middle East and Africa. 'Our growth across key leisure and business hubs reflects a strategic focus on having hotels where our guests and World of Hyatt members want to travel most. As we expand, we remain committed to delivering high-quality hospitality experiences that resonate with both global travelers and local communities.' In the next two years, Hyatt hotels are set to debut in new markets within the region, including the anticipated opening of Hyatt Regency Lagos Ikeja in Nigeria. Additionally, the launch of Park Hyatt Johannesburg is set for later this year, following an extensive renovation of The Winston Hotel. The luxury property will include 31 guestrooms and is expected to be popular with business and leisure guests alike, offering understated luxury and an elevated home away from home experience with highly personalized, intuitive, and fully engaged service. 'This is an exciting chapter in the growth of Hyatt's portfolio across Africa, as we add hotels with intent in high-demand destinations,' said Felicity Black-Roberts, Senior Vice President Development, Hyatt, EAME. 'We are proud to collaborate with our trusted owners to thoughtfully introduce Hyatt's diverse brands to both new and established markets across the region.' The upcoming properties are expected to join the Hyatt brand portfolio in Africa, with Hyatt hotels currently present in South Africa, Algeria, Morocco, Ethiopia, Tanzania, Zimbabwe, Kenya and Egypt. Some of the Hyatt branded hotels in the region include: Park Hyatt Zanzibar – Located in Stone Town, the luxury hotel holds 62 rooms and provides the ultimate haven amongst the area's winding alleys, bustling markets, mosques, and famed Zanzibari doors, featuring magnificent ornate wooden carvings. Park Hyatt Marrakech – Opened in 2024, this luxury resort is ideally located, with stunning views of the Atlas Mountains and next to Al Maaden Golf course. Hyatt Regency Harare – The Meikles – Marking the first Hyatt branded hotel in Zimbabwe, this hotel offers iconic architecture, charm, luxury, and easy access to major attractions in Regency Dar es Salaam, The Kilimanjaro – A modern oasis in the heart of Tanzania's largest city, this hotel boasts a superb waterfront location and spectacular views of the harbour. Hyatt Centric Cairo West – Opened in October 2024, this art-focused hotel offers travellers a convenient location near iconic landmarks such as the Giza Pyramids and The Grand Egyptian Museum. Hyatt Regency Cape Town – located in one of Cape Town's most vibrant neighborhoods, Bo-Kaap, this property offers guests the opportunity to immerse themselves in the culture while enjoying views of Table Mountain. Hyatt Regency Nairobi Westlands – Nestled in the heart of Nairobi's bustling city centre, travellers can enjoy sophisticated lodgings, diverse dining options, and a contemporary selection of amenities and services.
Travel Daily News
27-05-2025
- Business
- Travel Daily News
Hyatt: 50% rooms growth by end of 2030 in Africa
Hyatt's expansion plan follows a significant 51% rooms growth across Africa in the past two years, with openings in Kenya, Morocco, Egypt and Zimbabwe. JOHANNESBURG, SOUTH AFRICA – Hyatt announced that the company expects around 50% rooms growth across new and existing markets in Africa by the end of 2030. In the past two years, Hyatt saw 51% rooms growth in Africa, fueled by the addition of several milestone properties and first-time brand entries. These included Park Hyatt Marrakech, introducing the luxury brand to Morocco; Hyatt Centric Cairo West, the brand's debut on the continent; Hyatt Regency Harare – The Meikles, Hyatt's first hotel in Zimbabwe; and Hyatt Regency Nairobi Westlands, its first hotel in Kenya. Most recently, in March 2025, Hyatt Place Nairobi Westlands and Hyatt House Nairobi Westlands opened along Lower Kabete Road. This marks Hyatt's first dual-branded development in Africa, offering guests two distinct stay experiences under one roof, just minutes from Westgate Mall, the Nairobi National Museum, and Karura Forest. 'Last year marked a breakthrough year for Hyatt in Africa, and we're just getting started,' said Stephen Ansell, Managing Director, Hyatt, Middle East and Africa. 'Our growth across key leisure and business hubs reflects a strategic focus on having hotels where our guests and World of Hyatt members want to travel most. As we expand, we remain committed to delivering high-quality hospitality experiences that resonate with both global travelers and local communities.' In the next two years, Hyatt hotels are set to debut in new markets within the region, including the anticipated opening of Hyatt Regency Lagos Ikeja in Nigeria. Additionally, the launch of Park Hyatt Johannesburg is set for later this year, following an extensive renovation of The Winston Hotel. The luxury property will include 31 guestrooms and is expected to be popular with business and leisure guests alike, offering understated luxury and an elevated home away from home experience with highly personalized, intuitive, and fully engaged service. 'This is an exciting chapter in the growth of Hyatt's portfolio across Africa, as we add hotels with intent in high-demand destinations,' said Felicity Black-Roberts, Senior Vice President Development, Hyatt, EAME. 'We are proud to collaborate with our trusted owners to thoughtfully introduce Hyatt's diverse brands to both new and established markets across the region.' The upcoming properties are expected to join the Hyatt brand portfolio in Africa, with Hyatt hotels currently present in South Africa, Algeria, Morocco, Ethiopia, Tanzania, Zimbabwe, Kenya and Egypt. Some of the Hyatt branded hotels in the region include: Park Hyatt Zanzibar – Located in Stone Town, the luxury hotel holds 62 rooms and provides the ultimate haven amongst the area's winding alleys, bustling markets, mosques, and famed Zanzibari doors, featuring magnificent ornate wooden carvings. – Located in Stone Town, the luxury hotel holds 62 rooms and provides the ultimate haven amongst the area's winding alleys, bustling markets, mosques, and famed Zanzibari doors, featuring magnificent ornate wooden carvings. Park Hyatt Marrakech – Opened in 2024, this luxury resort is ideally located, with stunning views of the Atlas Mountains and next to Al Maaden Golf course. – Opened in 2024, this luxury resort is ideally located, with stunning views of the Atlas Mountains and next to Al Maaden Golf course. Hyatt Regency Harare – The Meikles – Marking the first Hyatt branded hotel in Zimbabwe, this hotel offers iconic architecture, charm, luxury, and easy access to major attractions in Harare. – – Marking the first Hyatt branded hotel in Zimbabwe, this hotel offers iconic architecture, charm, luxury, and easy access to major attractions in Harare. Hyatt Regency Dar es Salaam, The Kilimanjaro – A modern oasis in the heart of Tanzania's largest city, this hotel boasts a superb waterfront location and spectacular views of the harbour. The Kilimanjaro – A modern oasis in the heart of Tanzania's largest city, this hotel boasts a superb waterfront location and spectacular views of the harbour. Hyatt Centric Cairo West – Opened in October 2024, this art-focused hotel offers travellers a convenient location near iconic landmarks such as the Giza Pyramids and The Grand Egyptian Museum. – Opened in October 2024, this art-focused hotel offers travellers a convenient location near iconic landmarks such as the Giza Pyramids and The Grand Egyptian Museum. Hyatt Regency Cape Town – located in one of Cape Town's most vibrant neighborhoods, Bo-Kaap, this property offers guests the opportunity to immerse themselves in the culture while enjoying views of Table Mountain. – located in one of Cape Town's most vibrant neighborhoods, Bo-Kaap, this property offers guests the opportunity to immerse themselves in the culture while enjoying views of Table Mountain. Hyatt Regency Nairobi Westlands – Nestled in the heart of Nairobi's bustling city centre, travellers can enjoy sophisticated lodgings, diverse dining options, and a contemporary selection of amenities and services.
Zawya
27-05-2025
- Business
- Zawya
Hyatt's Brand Footprint in Africa Set for 50% Rooms Growth by End of 2030
Hyatt ( announced that Hyatt expects around 50% rooms growth across new and existing markets in Africa by the end of 2030. In the past two years, Hyatt saw 51% rooms growth in Africa, fueled by the addition of several milestone properties and first-time brand entries. These included Park Hyatt Marrakech, introducing the luxury brand to Morocco; Hyatt Centric Cairo West, the brand's debut on the continent; Hyatt Regency Harare – The Meikles, Hyatt's first hotel in Zimbabwe; and Hyatt Regency Nairobi Westlands, its first hotel in Kenya. Most recently, in March 2025, Hyatt Place Nairobi Westlands and Hyatt House Nairobi Westlands opened along Lower Kabete Road. This marks Hyatt's first dual-branded development in Africa, offering guests two distinct stay experiences under one roof, just minutes from Westgate Mall, the Nairobi National Museum, and Karura Forest. 'Last year marked a breakthrough year for Hyatt in Africa, and we're just getting started,' said Stephen Ansell, Managing Director, Hyatt, Middle East and Africa. 'Our growth across key leisure and business hubs reflects a strategic focus on having hotels where our guests and World of Hyatt members want to travel most. As we expand, we remain committed to delivering high-quality hospitality experiences that resonate with both global travelers and local communities.' In the next two years, Hyatt hotels are set to debut in new markets within the region, including the anticipated opening of Hyatt Regency Lagos Ikeja in Nigeria. Additionally, the launch of Park Hyatt Johannesburg is set for later this year, following an extensive renovation of The Winston Hotel. The luxury property will include 31 guestrooms and is expected to be popular with business and leisure guests alike, offering understated luxury and an elevated home away from home experience with highly personalized, intuitive, and fully engaged service. 'This is an exciting chapter in the growth of Hyatt's portfolio across Africa, as we add hotels with intent in high-demand destinations,' said Felicity Black-Roberts, Senior Vice President Development, Hyatt, EAME. 'We are proud to collaborate with our trusted owners to thoughtfully introduce Hyatt's diverse brands to both new and established markets across the region.' The upcoming properties are expected to join the Hyatt brand portfolio in Africa, with Hyatt hotels currently present in South Africa, Algeria, Morocco, Ethiopia, Tanzania, Zimbabwe, Kenya and Egypt. Some of the Hyatt branded hotels in the region include: Park Hyatt Zanzibar – Located in Stone Town, the luxury hotel holds 62 rooms and provides the ultimate haven amongst the area's winding alleys, bustling markets, mosques, and famed Zanzibari doors, featuring magnificent ornate wooden carvings. Park Hyatt Marrakech – Opened in 2024, this luxury resort is ideally located, with stunning views of the Atlas Mountains and next to Al Maaden Golf course. Hyatt Regency Harare – The Meikles – Marking the first Hyatt branded hotel in Zimbabwe, this hotel offers iconic architecture, charm, luxury, and easy access to major attractions in Harare. Hyatt Regency Dar es Salaam, The Kilimanjaro – A modern oasis in the heart of Tanzania's largest city, this hotel boasts a superb waterfront location and spectacular views of the harbour. Hyatt Centric Cairo West – Opened in October 2024, this art-focused hotel offers travellers a convenient location near iconic landmarks such as the Giza Pyramids and The Grand Egyptian Museum. Hyatt Regency Cape Town – located in one of Cape Town's most vibrant neighborhoods, Bo-Kaap, this property offers guests the opportunity to immerse themselves in the culture while enjoying views of Table Mountain. Hyatt Regency Nairobi Westlands – Nestled in the heart of Nairobi's bustling city centre, travellers can enjoy sophisticated lodgings, diverse dining options, and a contemporary selection of amenities and services. For additional information on the Hyatt brand portfolio, visit The term 'Hyatt' is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. Distributed by APO Group on behalf of Hyatt. Media Contacts: Chloe Duncan Hyatt – Middle East&Africa About Hyatt Hotels Corporation: Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2025, the Company's portfolio included more than 1,450 hotels and all-inclusive properties in 79 countries across six continents. The Company's offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts&Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness&Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts&Spas, Dreams® Resorts&Spas, Hyatt Vivid Hotels&Resorts, Sunscape® Resorts&Spas, Alua Hotels&Resorts®, and Bahia Principe Hotels&Resorts the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Studios, Hyatt Select, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr&Mrs Smith, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. For more information, please visit Forward-Looking Statements: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as 'may,' 'could,' 'expect,' 'intend,' 'plan,' 'seek,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'continue,' 'likely,' 'will,' 'would' and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions and political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotel services agreements or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission ('SEC'), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Skift
23-05-2025
- Business
- Skift
Six New Canadian Hotels Reflect the Country's Evolving Hospitality Landscape
Canada's hotel sector is entering a new era of growth, marked by eco-conscious builds, luxury upgrades, and culturally rich conversions. These six properties show how developers are meeting both traveler expectations and event planner demand in 2025. Canada's hotel sector is entering a new era of growth, marked by eco-conscious builds, luxury upgrades, and culturally rich conversions. These six properties show how developers are meeting both traveler expectations and event planner demand in 2025. 2025 is shaping up to be a strong year for new Canadian hotel activity, which will reach its highest level since 2019, according to CBRE's Canadian Hotel Industry Outlook. This year will see twice the number of new rooms — 6,500 — than last year. Canada's hotel options are as vast as the nation itself. These six new entrants range from a sustainable beachside resort on Prince Edward Island, to an art deco gem atop a mall and office complex in downtown Montreal, to a conversion of an iconic hotel overlooking Niagara Falls. You can explore Skift Meetings' list of 135 new and newly renovated properties around the globe, featured in our just-released report, What's New in Meetings and Incentive Travel 2025. 1. Blackbush Beach Resort Grand Tracadie, PEI Blackbush Beach Resort is a sustainable eco beachside resort overlooking the National Park, the ocean, and the dunes of Blackbush Island. The resort offers various accommodation options, such as beach villas and cottages, and The Hotel Acadia, which provides 30 rooms for guests with direct access to the beach. With two meeting spaces, the largest of which can accommodate 50 attendees theatre-style, organizers can incorporate a bonfire amphitheater and coastal experiences into events. 2. HISTORY Ottawa Ottawa, Ontario HISTORY Ottawa is an entertainment venue scheduled to open in 2026 in downtown Ottawa, developed in partnership with Canadian rapper Drake. Located in the Byward Market, at the site of the former Chapters bookstore, it will soon be unveiled as a two-level special events venue. The venue will offer numerous services, including ticketing access, talent buying, built-in audiovisual, convertible seating for any event type, and full-service planning and catering. 3. La Nesr Montréal, Quebec La Nesra is a new special venue in Montreal's Griffintown neighbourhood. It can host events of over 1,800 guests in cocktail format or 1,500 seated theater-style. The more than 20,000 square feet of usable space can be divided into three separate spaces. 4. Le 9e Montréal, Quebec Montréal's fabled Art Deco Le 9e sits atop the Centre Eaton de Montréal. The was classified as a heritage property under Québec's Cultural Heritage Act in August 2000. It lay dormant for decades before it was restored and reopened in May 2024. Now, it includes the 120-seat Île-de-France restaurant; La Grande Salle venue for live shows, exhibitions and private functions; and the multipurpose Gold and Silver rooms. 5. Sofitel Montréal Golden Mile (Renovation) Montréal, Quebec Located next to McGill University and the Montreal Museum of Fine Arts, the Sofitel Montréal Golden Mile offers 256 guest rooms, including 17 suites, all featuring panoramic views of Montréal's skyline and Mount Royal Park. The hotel offers two naturally lit ballrooms each divisible into smaller breakouts. Adjacent foyers offer additional flexible space for receptions, breaks, and welcome desks. Culinary services, led by acclaimed Executive Chef Olivier Perret, complement the refined atmosphere. 6. The Brock Niagara Falls, Tapestry Collection by Hilton (Conversion) Niagara Falls, Ontario Previously the Crowne Plaza Niagara Falls - Fallsview and located directly across from Niagara Falls, this hotel has just completed a $15 million renovation. It now offers 237 guest rooms and 15,000 square feet of versatile event space across 11 meeting rooms, some with direct views of Niagara Falls. The largest event room accommodates up to 850 guests, theater-style. Additional amenities include on-site dining, a fitness center, and proximity to local wineries.
