Boutique Hotel News

JANUARY 16, 2023

In total, 72 per cent of travel managers expect their business travel volume to increase either somewhat (46 per cent) or significantly (26 per cent) in 2023, when compared to 2019. Just 13 per cent say they will likely see a decrease in the travel volume of their business in 2023 relative to 2019. Rising costs spur budget increases .

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Hotel Owner

NOVEMBER 28, 2022

against 2019, and up by £295.2m compared to 2019 (2019: £42.86), while like-for-like occupancy was up 0.7pts to 81.5%, and like-for-like average room rate was up 19.8% compared to 2019 (2019: £42.86), while like-for-like occupancy was up 0.7pts to 81.5%, and like-for-like average room rate was up 19.8% for 2021.

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Hotel Owner

OCTOBER 19, 2023

A major budget hotel in Belfast has been brought to the market for sale for offers of more than £7.175m. He said: “It has been a good year for the hotel industry in Northern Ireland with occupancy levels rebounding to those last experienced in 2019 and average room rates continuing to perform at record highs. “By

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Lodging Magazine

DECEMBER 20, 2022

Meeting volumes continued to rise in 2022, attendance is nearing 2019 levels, and COVID is no longer a concern for most. Cost leveling, the return of business travel, and budget increases will support the recovery’s home stretch. […].

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Boutique Hotel News

MARCH 14, 2023

The company predominantly operates Ibis budget hotels across the UK. AGO Hotels formed in 2019 in response to the Covid-19 pandemic. The Rove London Paddington Hotel offers 75 rooms and is located close to the Paddington train station on Norfolk Street. It marks the fifteenth hotel in the AGO portfolio.

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Hotel Business

FEBRUARY 14, 2023

operations outpaced the budget hotel segment’s growth in RevPAR with an 18% rise in 2022 versus 2019. The budget hotel segment grew by only 6% in the U.S., higher growth than the other budget hotels in the region. Global travel technology company OYO’s U.S. according to STR reports. higher than industry RevPAR.

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Modern Restaurant Management

NOVEMBER 24, 2020

Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Plan for Gaps in Your Budget. That said, restaurants didn’t have COVID-19 written into their budget at the beginning of 2020.

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Hotel Owner

OCTOBER 17, 2023

Newcastle has been one of the UK’s best performing hotel markets post-pandemic, with 2022 Revenue Per Available Room (RevPAR) over 15% higher than in 2019. With an Average Daily Rate (ADR) of £69, Newcastle has the lowest ADR of all the regional markets, presenting an attractive proposition for budget-friendly overnight stays.

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Hotel Owner

FEBRUARY 19, 2024

The increase in the middle market and budget hotels was less stark, from £132.96 Cost pressures hit UK middle market and budget hotels, with GOP PAR down from £53.14 Occupancy of luxury and budget hotels also exceeded pre-pandemic levels for the first time, at 68% and 70% respectively (December 2019). in December.

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Hotel Owner

JANUARY 31, 2023

Travelodge has delivered record financial results in 2022, “significantly” ahead of its previous best year in 2019, whilst also confirming the completion of a lease re-gear with its largest landlord, LXI REIT. Total underlying revenues in 2022 were up 25% on 2019 levels while EBITDA is expected to be between £210m and £215m, up from £129.1m

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Hotel Owner

FEBRUARY 23, 2023

The hospitality association said this is because sales remain “significantly behind 2019” in real terms due to inflation. in 2022 compared with 2019, but down 13% in real terms when inflation is accounted for. As such, UKHospitality said it is urging the chancellor to address the root causes of inflation in the Budget.

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Revenue Hub

OCTOBER 31, 2023

The majority of professionals in the global business travel industry say the sector has reached near-full recovery this year since the pandemic days of 2019. On the international front, bookings reached 70 percent of their 2019 levels (up from 63 percent in April). This has not changed from a year ago.

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MBB Hospitality

SEPTEMBER 12, 2019

Is restaurant franchising on the rise in 2019? According to the International Franchise Association’s latest report which was in 2018, the overall franchise industry is expected to continue to do well all throughout 2019. The post Is Restaurant Franchising On the Rise In 2019? Are you primed for success? percent this year.

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Hotel Owner

JANUARY 9, 2024

Chris Tate, head of hotels and accommodation at RSM UK, said: “The hotel sector performed relatively well in November, with room rates and occupancy holding up better than expected for this time of year and particularly considering the continued squeeze on household budgets. We expect this to be evident in the December results too.”

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PhocusWire

JUNE 28, 2022

Founded in 2019, Journee matches travelers with "mystery" trips by collecting their preferences around budget, dates, location and experiences.

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Hotel Owner

DECEMBER 14, 2023

Whitbread acquired the location as a vacant office building and secured planning permission to comprehensively redevelop the site in December 2019. Hester King, Project and Programme manager for Whitbread, said: “Hub by Premier Inn Marylebone sets a new standard for branded budget hotels in central London.

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Modern Restaurant Management

FEBRUARY 1, 2023

TouchBistro found that only 39 percent of restaurants are investing in professional development opportunities to stay competitive, compared to 43 percent in 2019. Traditional job advertising allows you to have a fixed budget while using old job data to inform decisions as to where to post your jobs.

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Hotel Business

JANUARY 30, 2023

The hotel industry in 2023 is projected to surpass pre-pandemic levels of demand, nominal room revenue and state and local tax revenue, while inching closer to other key 2019 performance metrics, according to the American Hotel & Lodging Association’s 2023 State of the Hotel Industry Report. billion in 2019). billion in 2019).

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Hotel Business

JANUARY 23, 2023

According to the report, last year consumers were willing to stretch their budget for their holiday plans, with 86% of travelers planning on spending the same amount or more on international travel than in 2019, with U.S. tourists leading the list as big spenders. But 2023 is looking even better in terms of travelers’ spend. .”

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Revenue Hub

APRIL 6, 2023

According to data released by the International Air Travel Association (IATA) in November 2022, passenger traffic reached 74% of 2019 levels. According to the latest market data generated from our portfolio of hotels in March 2023, group enquiries currently represent 90% of 2019 levels.

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Revenue Hub

APRIL 30, 2024

The base management fee typically covers the services provided by the management company for the day-to-day operation of the hotel, including overall management oversight, staffing, training, budgeting, financial reporting, and operational support.

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eZee Absolute

DECEMBER 7, 2023

Myth #2: Revenue management is only for mathematics enthusiasts When we talk about aspects like pricing, revenue, or budgeting, many think that it is the job of someone who has a strong grip on mathematics. And this makes the budget players feel that they need a humongous amount of money to reap its benefits. That’s not all.

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Hotel Owner

JULY 5, 2023

It comes as the budget hotel chain said that London was a “key growth area” for the group, and it is currently searching for a further 127 sites across the city. London Peckham Travelodge is managed by Fellipe Rodrigues, who joined Travelodge in 2019.

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Hotel Owner

NOVEMBER 28, 2022

As the sector calls on the government to reconsider its decision on 9% VAT rate, hoteliers across Ireland have “broadly” welcomed the energy support announced in the recent budget, according to the Irish Hotels Federation (IHF).

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Hotel Business

APRIL 12, 2023

based and European executives with travel budget oversight, fielded between Feb. and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. respondents expect international trips to account for 33% of 2023 spend, up from 21% in 2022 and similar to 2019 levels.

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Hotel Business

MARCH 15, 2023

operations recently revealed that it had outpaced budget hotel segment growth in RevPAR with an 18% rise in 2022 versus 2019. The budget hotel segment in the meantime, grew by only 6% in the U.S. We are seeing growing demand coming in from both independent hotels as well as branded properties.”

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Modern Restaurant Management

JULY 8, 2021

In Edelman’s 2019 Trust Barometer Report , 63 percent of consumers said they trust what influencers say about brands over what the brands say themselves. Micro influencers are often more budget-friendly options that are perfect for new or small restaurants. And there’s even more trust with micro influencers.

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Hotel Owner

MARCH 7, 2024

B&B Hotels, the European budget hotel chain, has agreed a long-term lease for Arora Park Hotel, which was originally built for British Airways crew before being converted to a hotel for the general public. Since being acquired by Goldman Sachs in 2019, the company has been on the expansion trail.

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Hotel Business

MARCH 16, 2023

The report highlights the following insights: ADR and occupancy Among independent properties, hotel rates increased slightly from 2019 to 2020 and continued to grow in 2021 and 2022. In 2022, ADR exceeded the 2019 ADR by 17%. In 2022, pent-up demand for travel shifted the balance back in favor of OTAs and reached 2019 levels again.

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Hotel Owner

DECEMBER 20, 2022

Aimbridge EMEA has reported an average of 15% uplift in RevPAR across its UK portfolio against 2019, with certain locations doubling that performance at points during 2022. It said the increase follows a strong year for the third-party management company which has seen multiple property signings and openings.

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Hotel Business

DECEMBER 20, 2022

Meeting volumes continued to rise in 2022, attendance is nearing 2019 levels and COVID is no longer a concern for most. Cost leveling, the return of business travel and budget increases will support the recovery’s home stretch. Highlights from the survey: More than 70% of 2022 events had attendance at, or above, 80% of 2019 levels.

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Revenue Hub

NOVEMBER 4, 2022

from the comparable period in 2019, according to STR data, travelers don’t seem to mind. below the 2019 level. The rise of “bleisure” is also driving reconfiguration of hotel rooms, but not all hotels have the budget to overhaul their rooms. Hotel occupancy in July was 69.9%, just 5.4%

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Revenue Hub

APRIL 14, 2023

based and European executives with travel budget oversight, fielded between Feb. and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. respondents expect international trips to account for 33% of 2023 spend, up from 21% in 2022 and similar to 2019 levels.

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Revenue Hub

FEBRUARY 6, 2023

from December 2021 to December 2022 and up 17% in December 2022 compared to December 2019 (pre-pandemic). Even as households tighten budgets and reduce discretionary spending, there are a number of studies that indicate consumer interest in travel has remained largely unscathed. To this effect, the U.S.

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Serviced Apartments

JUNE 13, 2023

Turnover during 2022 hit €175 million, up from €78 million in 2019, with EBITDA finishing the year at €30 million and RevPAR up 10 per cent on 2019 driven by a 15 per cent improvement in achieved room rates. We have now extended this out to 2027 when Staycity will be debt-free,” said Walsh.

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Hotel Owner

JULY 12, 2023

With London’s ADR tracking above inflation and ADR for regional hotels on par with 2019, this resilience in trading is attracting investor sentiment in the sector, according to Knight Frank. It argued that an appetite to secure quality hotels in prime locations, or sites with repositioning and value-add potential, remains strong.

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Serviced Apartments

MARCH 7, 2023

The average length of stay is up by 12 per cent on last year to 46 nights, and requests for pet-friendly accommodation are up five-fold since 2019. Budgets are sensitive with some companies enforcing stricter rate caps and others having hiring freezes.

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