In 2017, the U.S. hotel industry saw occupancy increase 0.9% to $65.9%, and a 2.1% ADR increase to $126.72 drove RevPAR up 3% to $83.57 over 2016.
For 2018 the U.S. hotel industry is projected to report a 0.3% increase in occupancy to 66.1%, a 2.4% rise in average daily rate (ADR) to US$129.77 and a 2.7% lift in revenue per available room (RevPAR) to US$85.82.
Hyatt Hotels Corporation (NYSE:H) announced today the opening of Grand Hyatt Manila, the first Grand Hyatt hotel in the Philippines. The 461-room luxury hotel tops the tallest skyscraper in the Philippines at 1,043 feet, offering breathtaking and unobstructed panoramic views of the Makati skyline and Manila Bay.
Marcus Hotels & Resorts announced it has been selected to manage the Murieta Inn and Spa in Rancho Murieta, California, which opened today. The newly constructed luxury inn and spa is located southeast of Sacramento among the foothills of the Sierra Nevada Range in what is known as Gold Country.