Latest news with #occupancy
Skift
a day ago
- Business
- Skift
Hyatt Launches Unscripted Brand for Essentials Portfolio
STR reported China hotel data for the week ended May 24th. Hotel RevPAR in China was down 9.4% year-over-year. The week's RevPAR was up against a drop of 4.1% in the comparable week last year. While occupancy was down 1.8% year-over-year for the recent week, ADR was the reason for the decent-sized decline, down 7.8%. Macau's average hotel occupancy rate rose by 4.7 percentage points in April to 87.8%. The number of guests rose 3.4% to 1.2 million. The Macau Statistics and Census Service said there were 147 hotel establishments providing accommodation services to the public as of the end of April, up by four establishments versus the year before. The number of available rooms declined by 4.5% to 45,000 as more IR owners renovated, combining rooms to suites. Five-star hotels' occupancy rate was 90.9%, up by 6.2 percentage points year-on-year. In the first four months of the year, the average hotel occupancy rate increased by 5.1 percentage points to 89.6%. The number of guests decreased by 3.2% to 4.8 million. Hyatt Hotels Corporation announced a franchise agreement with PT Lombok Torok Developments to open a new hotel in Lombok, Indonesia. This marks the debut of the Destination by Hyatt brand in Southeast Asia. The Samara Lombok will feature 249 rooms, part of a larger integrated development project on the island. The hotel is set to open in 2027. The Samara Lombok project spans over 300 acres and includes two sites: Samara Bay and Samara Hills. The development will include a wellness village, multiple swimming pools, and more than 10 dining venues. This will increase Hyatt's portfolio in Indonesia, where it currently operates 15 properties across seven different brands. Hyatt Hotels Corporation announced Unscripted by Hyatt, the newest brand in its Essentials portfolio. Unscripted by Hyatt hotels will bring to life a flexible, collection-style approach where each property reflects its own identity and local flavor yet remains unmistakably Hyatt in quality and care. The Unscripted by Hyatt brand has over 40 hotels globally in active discussions to join the brand. As Hyatt scales its select service offerings within its Essentials portfolio, it is simultaneously expanding its Lifestyle and Luxury portfolios to grow in more markets, with more members, for more stay occasions. The Lifestyle portfolio added more than 30 new properties and 3,500 rooms between the first quarter of 2024 and the first quarter of 2025, including openings and the acquisition of Standard International's brands. The Standard, StandardX, and Bunkhouse Hotels are generating strong demand from guests, group customers, and owners alike as Hyatt increases its lifestyle offerings. IHG Hotels & Resorts and GI Capital Management held a ground-breaking ceremony to mark the construction start of the Regent Kyoto, set to open in 2028. The property is set around a central garden originally landscaped over a century ago and will offer luxury, world-class facilities, and 83 rooms, located in one of the city's most affluent areas of Okazaki. The hotel site is home to Tsuruya, recognized among Kyoto's top dining destinations. Work on Singapore's first zero-energy hotel, the Hotel Indigo Changi Airport, is scheduled to be completed and fully operational by 2028. The hotel is being developed beside Terminal 2 and will offer a distinctive local experience, developed under a joint venture by OUE with Japanese non-banking financial services company, Tokyo Century. The 255-room hotel will include an oasis on the 8th floor with an infinity pool, gym, and a bar. There will be an indoor rainforest with seven stories of greenery. The hotel will have direct access to Terminal 2, but will be linked to the rest of Changi Airport. Acrophyte Hospitality Trust, formerly known as ARA US Hospitality Trust, is undergoing a strategic review. The Singapore-listed hotel trust was renamed in 2024 after the family of billionaire Gordon Tang completed the takeover of the trust's managers. On May 30, the managers of Acrophyte Hospitality Trust said they are evaluating a range of strategic options in light of the potential capital expenditure needed to enhance its portfolio of hospitality assets in the United States. The hospitality stapled group comprises Acrophyte Hospitality Property Trust and Acrophyte Hospitality Management Trust. OYO Hotels founder Ritesh Agarwal is asking for name suggestions for its parent firm, Oravel Stays, ahead of its next attempt at an IPO. We don't think the name is the reason they have been unsuccessful at getting to the market, but a fresh name may work. He wants a bold, one-word corporate name, global in feel, not tied to one culture or language, tech-forward, sharp but also human and memorable. Meanwhile, five investment banks will be meeting with investor SoftBank this month to try to convince them to support an IPO. The banks include Citi, Goldman Sachs, Jefferies, ICICI Securities, and Axis Capital. Schloss Bangalore, owner of The Leela, launched their IPO, laying an egg on the first day with a decline of 6.7% on its debut. Even with that, the company is valued at US$1.62 billion. Sponsor Brookfield Asset Management had been targeting a valuation of about $1.7 billion. In the Philippines, casino and leisure firm Hann Holdings Inc. filed a preliminary prospectus for an IPO to raise up to P12.98 billion to fund expansion plans and strengthen its position in the country's integrated resort industry. Hann Holdings said it will offer 500 million common shares at a maximum price of P23.60 each, plus an additional 50 million secondary shares to cover an overallotment option. Its flagship properties include Hann Casino Resort in Clark Freeport Zone, Pampanga, which includes a casino floor and international hotel brands such as Swissotel and Marriott, high-end retail, and fine dining. The company is also developing Hann Reserve, a 450-hectare luxury mountain resort in New Clark City, Tarlac, envisioned as the country's first luxury eco-leisure estate with plans for high-end hotel brands, golf courses, and residential villas. Global hospitality names such as Banyan Tree, Sofitel, and The Luxury Collection by Marriott are expected to be part of the lineup there.
Hospitality Net
2 days ago
- Business
- Hospitality Net
STR Weekly Insights: 11-17 May 2025
U.S. hotels posted a modest advance in the week ending 17 May with a strong ending offsetting lackluster performance at the beginning. Revenue per available room (RevPAR) rose 0.9%, lifted by a 1.3% gain in average daily rate (ADR) as occupancy fell. RevPAR on Thursday through Saturday increased 2.4% with Friday on top at +3.3%. Tuesday/Wednesday was flat (+0.4%), and the start of the week was down (-1.7). This is notable because last week, it was the weekend that saw the largest loss. It is difficult to pinpoint the cause of this weekend flip, but it's possible that a shift in high school and college graduations occurred due the later start of the semester after the Christmas/New Year holidays. Highlights Weekend nights and non-Top 25 Markets drove U.S. RevPAR Global RevPAR slowed but remained positive Mixed signals ahead for summer Weekends made up for lackluster weekday performance U.S. hotels posted a modest advance in the week ending 17 May with a strong ending offsetting lackluster performance at the beginning. Revenue per available room (RevPAR) rose 0.9%, lifted by a 1.3% gain in average daily rate (ADR) as occupancy fell. RevPAR on Thursday through Saturday increased 2.4% with Friday on top at +3.3%. Tuesday/Wednesday was flat (+0.4%), and the start of the week was down (-1.7). This is notable because last week, it was the weekend that saw the largest loss. It is difficult to pinpoint the cause of this weekend flip, but it's possible that a shift in high school and college graduations occurred due the later start of the semester after the Christmas/New Year holidays. — Source: STR — Source: STR Detroit earned top honors during a slow week across the Top 25 Markets Markets outside the Top 25 drove performance with a 2.2% RevPAR gain, while the Top 25 Markets (T25) dropped 0.4%. However, 11 of the T25 saw RevPAR advance, led by Detroit (+26.1%), which hosted Automate 2025. Chicago saw its RevPAR increase 13.5% with double-digit gains Tuesday through Saturday. All seven submarkets saw RevPAR growth in the week, ranging from +1.4% in Chicago Southwest to +27.6% in Chicago North. The Chicago CBD submarket was up 14.4% for the week and is up 5.9% since 5 January 2025 all on ADR. Los Angeles and San Diego rounded out the list of double-digit RevPAR gainers. On the flip side, two of the country's five largest markets, Las Vegas and Atlanta, each saw double-digit RevPAR declines. Atlanta's slowdown was driven by a decrease in Group demand. A range of leisure-focused events lifted performance across cities outside the T25 Across the seventy next largest markets, three markets posted notable RevPAR growth - Daytona Beach, which hosted the annual music festival, Welcome To Rockville 2025, as well as Charlotte, with the 2025 PGA Golf Championship, and Tucson, the site of a nature photography conference, NANPA 2025. Overall, only 50 markets outside the T25 saw RevPAR fall for the week, down from 73 in the week before. College graduations make the grade across smaller markets RevPAR across several smaller markets were impacted by college graduations from some of the nation's largest universities. The top three RevPAR markets included Blacksburg (Virginia Tech), Binghamton (Rochester Institute of Technology) and Champaign-Urbana (University of Illinois). All three saw RevPAR increase by more than 100%. Group demand slipped Group demand in Luxury and Upper Upscale hotels declined 3.2% with Thursday-Saturday seeing the largest decline, likely impacted by high school and college graduations. Group ADR increased 2.3%, matching transient ADR up 2.4% while Transient demand increased 1.4%. Across the T25, five markets posted healthy group demand led by Detroit, Oahu, Las Vegas, San Diego, and Anaheim (Orange County). Over the past four weeks, Group demand is down in Atlanta, Las Vegas, and New Orleans by more than 10%. Atlanta shows the largest Group demand decline (-15.6%) the last four weeks) but is flat as of May YTD). — Source: STR Global RevPAR slowed on falling demand RevPAR across the globe, excluding the U.S., rose 3.2%. Occupancy retreated 1.2 percentage points (ppts) after two weeks of growth while ADR continued to grow (+4.7%). Global RevPAR has increased 65 of the past 72 weeks and in 18 of 20 weeks this year. — Source: STR Once again, Japan led among the 12 key countries with RevPAR up 44%, driven by a 44% ADR increase. The country's occupancy also increased slightly and stood at 79.5%. Other countries seeing RevPAR gains included Mexico, France, Spain, and Canada. RevPAR was up by more than 5% in those countries, except in Canada where it increased by 2.6%. China, Germany and India saw RevPAR retreat by more than 10%. China's decrease was the largest since the week ending 12 April 2025 thanks to falling ADR (-7.1%). Of the 10 largest markets in China, eight saw RevPAR decrease with four noting double-digit declines. While occupancy was down 2ppts for these 10 markets as a whole, demand was somewhat flat (-0.4%) with the occupancy decline more due to increasing supply (+2.4%). — Source: STR Looking ahead Memorial Day is the unofficial start of summer. Meetings and events along with Transient business travel will slow as is typical during this time of year. There are mixed indicators ahead. Forward bookings are softer for the coming months with bookings positive in May, flat in June and then down for July and August. Shorter booking windows may be creating lower levels for July and August, but we are watching closely. TSA airport screenings were down this past week, but early indications for next week show improvement. AAA predicts 45.1 million Americans are expected to travel domestically for Memorial Day setting a new weekend record. Thus, only time will tell how people actually react to the increased uncertainty that has permeated this year. Globally, there are also mixed indicators. Performance has slowed in recent weeks and many of the blockbuster events (Taylor Swift, Euros, Olympics, etc.) from 2024 will provide difficult comps this year in Germany, France, etc. That said, the number of Americans traveling internationally has continued to increase, although this may slow due to the falling dollar. International travel into the U.S. has slowed, which could prove to be a benefit for other regions of the world. — Source: STR About CoStar Group, Inc. CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France's leading commercial real estate news service. Thomas Daily is Germany's largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group's websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, as a channel of distribution for material company information. For more information, visit This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that future media events will not sustain an increase in future occupancy rates. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2023 and Forms 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2023, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar's other filings with the SEC available at the SEC's website ( All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. View source
Hospitality Net
2 days ago
- Business
- Hospitality Net
U.S. hotel results for week ending 24 May
ARLINGTON, Va. - The U.S. hotel industry reported mixed year-over-year comparisons, according to CoStar's latest data through 24 May. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 18-24 May 2025 (percentage change from comparable week in 2024): Occupancy: 67.5% (-0.4%) Average daily rate (ADR): US$164.57 (+1.5%) Revenue per available room (RevPAR): US$111.02 (+1.1%) Demand for the Friday and Saturday of Memorial Day weekend was the third highest on record behind 2022 and 2019. Among the Top 25 Markets, St. Louis saw the highest gain in occupancy (+19.3% to 76.7%), while the largest inclines in ADR and RevPAR were recorded in New York City (+12.6% to US$358.57) and San Francisco/San Mateo (+24.3% to US$169.87), respectively. The steepest decline in occupancy was seen in Houston (-16.2% to 62.1%). New Orleans reported the largest decreases in ADR (-7.3% to US$155.45) and RevPAR(-17.8% to US$94.78). For more information about the company and its products and services, please visit Additional Performance Data: CoStar's world-leading hotel performance sample comprises more than 88,000 properties and 11.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests. About CoStar Group, Inc. CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France's leading commercial real estate news service. Thomas Daily is Germany's largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group's websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, as a channel of distribution for material company information. For more information, visit This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that future media events will not sustain an increase in future occupancy rates. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2023 and Forms 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2023, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar's other filings with the SEC available at the SEC's website ( All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Karolina Capova Senior Media Relations Executive – STR STR
Yahoo
2 days ago
- Business
- Yahoo
Globe Trade Centre SA (FRA:G91) Q1 2025 Earnings Call Highlights: Revenue Growth and Strategic ...
Release Date: May 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Globe Trade Centre SA (FRA:G91) reported a 9% increase in combined revenues for the CE and German residential portfolio. The company improved its occupancy rate by 2 percentage points in the first quarter. Significant disposals added approximately 88 million to the company's cash position, demonstrating the high quality of its asset base. The portfolio is well-diversified across sectors and geographies, with 51% in offices, 30% in retail, and 19% in residential properties. The company has strong relationships with banks, which aids in refinancing efforts and managing upcoming maturities. FFO1 declined to around 12 million due to increased interest costs from new funding. The company faced increased finance costs due to additional senior facilities in Bulgaria and Germany. There was a loss from the revaluation of assets due to capitalized expenditures on completed properties. The weighted average interest rate increased to 3.63%, impacting financing costs. Administrative expenses increased, partly due to the integration of the German portfolio and additional employees. Warning! GuruFocus has detected 8 Warning Signs with FRA:G91. Q: Could you elaborate on the short-term blocked deposits and what drove their increase in the first quarter? A: The increase was due to a voluntary dedication of 45 million for deleveraging the company. We will decide how to utilize these funds, potentially for repaying bank loans or other facilities. - Unidentified_2 Q: Is the 45 million dedicated for deleveraging restricted to specific uses, such as bond repayment? A: The funds could potentially be used for bond repayment or senior facilities. We have not concluded on this yet, but it will help manage credit metrics. - Unidentified_2 Q: Can you provide details on the 37-38 million CapEx spent on investment property in Q1? A: The spending was on developments, fit-outs, and building maintenance. Approximately 20 million was spent on developments, including renovations, with the remainder on fit-outs and improvements. Most of it was financed through cash. - Unidentified_2 Q: What are the expected major cash outflows in the coming quarters? A: Significant cash outflows include interest costs and 42 million for an option to buy 10% of the German portfolio. We aim to finance these from external sources. - Unidentified_1 Q: Could you clarify the impact of the German portfolio on financials, particularly the increase in interest costs and admin expenses? A: The German portfolio's initial lower occupancy contributed to lower gross margin, but improvements are underway. Admin costs increased due to additional employees in Germany. Other finance expenses were largely one-off items. - Unidentified_2 For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
2 days ago
- Business
- South China Morning Post
Hong Kong's Link takes rental hits amid fight to retain retail tenants
Hong Kong-based Link Asset Management expects more tenants to negotiate lower rents in the near term as it prioritises keeping its properties occupied, according to top executives at the company that manages Link Reit , Asia's largest real estate investment trust. While Hong Kong continued to suffer a retail slump, assets in Singapore and Australia performed better than expected, the company said on Tuesday as it reported revenue and profit increases for the financial year ended in March. Link is not ruling out acquiring properties in challenged markets including Hong Kong, added George Hongchoy Kwok-lung, executive director and group CEO. 'There will be ongoing pressure' in the year ahead for rent reductions, but 'one of the things that we're very focused on is preserving occupancy', he said. The company's rental rate reversion – the industry term for when tenants negotiate lower rents upon renewal – was negative 2.2 per cent in Hong Kong during the financial year. Retail assets in Singapore had a positive reversion of 17.8 per cent. Link's earnings rose 4.6 per cent to HK$7.02 billion (US$896 million) for the year, while revenue increased 4.8 per cent to HK$14.22 billion. Net property income jumped 5.5 per cent to HK$10.6 billion. Its total portfolio was worth HK$226 billion as of March 31, with more than 150 properties in Hong Kong, mainland China, Australia, Singapore and the UK. Three quarters of its assets were in Hong Kong, spanning retail properties, car parks and offices. Link owns 12 properties in mainland China, accounting for about 14 per cent of its portfolio, with assets in retail, office and logistics, while overseas, it also owns 12 properties in the retail and office segments.
