Since 2014, U.S. lodging industry owners and operators have seen a steady decline in the pace of revenue growth. In 2014, rooms revenue per available room (RevPAR) increased by a healthy 8.2 percent according to STR. Per the December 2017 edition of CBREs Hotel Horizons®, RevPAR is forecast to increase by just 2.5 percent in 2018. Facing lackluster revenue growth, hoteliers sights are now focused further on down the operating statement to determine what the impact of slow top-line gains will be on bottom-line profits.
Destination Resort Invests $15 Million to Develop a Unique Sleeping Under the Sea Experience Debuting Q4 2018
The hotels are adjacent to the Amazon headquarter campus and the new Google campus in the South Lake Union market of Seattle. South Lake Union is also a hub for life science and biotechnology organizations such as the Fred Hutchinson Cancer Research Center, the Allen Institute for Brain Science and the University of Washington School of Medicine.
Meliá Hotels International has just announced, during the main tourism fair of the Arab market (the ATM of Dubai), two new hotels that will open throughout this year in the United Arab Emirates and Morocco.