Continued modest growth is projected for the U.S. hotel industry through 2018, according to STR and Tourism Economics latest forecast released on Thursday morning at the 2017 Hotel Data Conference.
Sydney's hotels reported performance gains in July, according to preliminary STR data. Occupancy rose 4.2% to 86.9%, while ADR increased 4.7% to 206.90 Australian dollars ($163.28) and RevPAR increased 9.1% to AU$179.75 ($141.82).
Looking ahead of the curve, prospects of future business activity for China's hoteliers decreased in June according to the latest reading of the country's Hotel Industry Leading (HIL) indicator. e−forecasting.com's China HIL - a predictive analytic which gauges monthly what's next for business in China's hotel industry - fell 0.2% in June to a reading of 100.3, following an increase of (+0.1%) in May.
The Central/South America region reported 27,333 rooms in 169 hotel projects in construction during July 2017, which is a 2.1% rooms decrease compared to the same month in 2016.