RevPAR

H World Announces Q4 and Full Year of 2023 Operating Results, Full Year RevPAR in China Recovered to 122% of the 2019 Level

Retrieved on: 
Wednesday, March 20, 2024
Momentum, RevPAR, ADR, City, DH, OCC, HKEX, Tourism

Breaking down into each month, the RevPAR in October, November and December 2023 recovered to 120%, 117% and 123% of the 2019 levels, respectively.

Key Points: 
  • Breaking down into each month, the RevPAR in October, November and December 2023 recovered to 120%, 117% and 123% of the 2019 levels, respectively.
  • For H World International (formerly known as DH), the ADR was EUR115, and the OCC for all H World International hotels in operation was 63.8%.
  • Commencing from February 2023, each monthly RevPAR consistently surpasses the 115% relative to the recovery of the 2019 level.
  • While the RevPAR growth in 2023 was primarily driven by ADR, H World also experienced continuous recovery in the occupancy rate.

Atour Lifestyle Holdings Limited Reports Fourth Quarter and Full Year 2023 Unaudited Financial Results

Retrieved on: 
Thursday, March 28, 2024
PIN, RevPAR, Exchange, Disclosure, Bank statement, Investment, Depreciation, Marketing, Quarantine, Webcast, Public expenditure, Telephone, GAAP, Forecasting, Growth, ADR, COVID-19, Table, ADS, Government, Video game

Selling and marketing expenses for the fourth quarter of 2023 were RMB207 million (US$29 million), compared with RMB54 million for the same period of 2022.

Key Points: 
  • Selling and marketing expenses for the fourth quarter of 2023 were RMB207 million (US$29 million), compared with RMB54 million for the same period of 2022.
  • For full year 2023, selling and marketing expenses were RMB470 million (US$66 million), compared with RMB140 million for full year 2022.
  • Technology and development expenses for the fourth quarter of 2023 were RMB22 million (US$3 million), compared with RMB16 million for the same period of 2022.
  • Other operating income for the fourth quarter of 2023 was RMB40 million (US$6 million), compared with RMB7 million for the same period of 2022.

Cloudbeds unveils inaugural State of Hostels report

Retrieved on: 
Thursday, March 21, 2024
ADR, Travel, LATAM, RevPAR, Research, Growth, Market development, Tourism

San Diego, CA, March 21, 2024 (GLOBE NEWSWIRE) -- Cloudbeds , the hospitality management platform powering more reservations and happier guests for independent lodging businesses around the globe, has released its inaugural State of Hostels report.

Key Points: 
  • San Diego, CA, March 21, 2024 (GLOBE NEWSWIRE) -- Cloudbeds , the hospitality management platform powering more reservations and happier guests for independent lodging businesses around the globe, has released its inaugural State of Hostels report.
  • The first-of-its-kind report draws on extensive data, research, as well as daily interactions with hostels around the world to share insights and trends in travel for 2024.
  • Despite higher prices, consumers have demonstrated a determination to travel and a desire for distinctive experiences only hostels can provide.
  • To download a free copy of Cloudbeds’ 2024 State of Hostels report, visit https://www.cloudbeds.com/hostel-report .

KBRA Assigns Preliminary Ratings to HTL 2024-T53

Retrieved on: 
Monday, April 1, 2024
Professional Services, Finance, ADR, HTL, TTM, CMBS, KLTV, RevPAR, NCF, Engineering, KBRA, Telescopic sight

KBRA announces the assignment of preliminary ratings to six classes of HTL 2024-T53, a CMBS single-borrower securitization.

Key Points: 
  • KBRA announces the assignment of preliminary ratings to six classes of HTL 2024-T53, a CMBS single-borrower securitization.
  • The collateral for the transaction is a $631.5 million fixed rate, interest-only mortgage loan.
  • The loan will be secured by the borrowers’ fee simple interests in 53 hotels, all located in 14 states.
  • As of TTM 1/2024, the portfolio achieved weighed average occupancy, ADR and RevPAR penetration rates of 106.9%, 109.1% and 118.8%, respectively.

KBRA Assigns Preliminary Ratings to BX 2024-BRVE

Retrieved on: 
Tuesday, March 26, 2024
Professional Services, Finance, ADR, BX, CMBS, KLTV, Methodology, RevPAR, NCF, Engineering, KBRA

KBRA announces the assignment of preliminary ratings to seven classes of BX 2024-BRVE, a CMBS single-borrower securitization.

Key Points: 
  • KBRA announces the assignment of preliminary ratings to seven classes of BX 2024-BRVE, a CMBS single-borrower securitization.
  • The collateral for the transaction is a $428.5 million floating rate, interest-only mortgage loan.
  • The loan has an initial two-year term with three, one-year extension options and requires monthly interest-only payments.
  • The resulting in-trust KBRA Loan to Value (KLTV) is 77.9%.

LuxUrban Hotels Inc. Provides Preliminary Unaudited 2023 Fourth Quarter and Full Year Financial Results

Retrieved on: 
Tuesday, March 26, 2024
Commercial Building & Real Estate, Construction & Property, Professional Services, Other Travel, Lodging, Vacation, Destinations, Residential Building & Real Estate, Travel, Other Professional Services, Tax, Letter, RevPAR, Growth, Exchange, Partnership, Risk, Dislocation, Accountant, Form 10-K, Audit committee, Life, Bank statement, Adjustment, MLA, City, Annual report, Superior, GAAP, Depreciation, Wyndham Hotels & Resorts, TRevPAR, Marketing, Total, Commercial property

As further discussed herein, the completion of the Company’s audit for 2023 includes additional procedures that are in process.

Key Points: 
  • As further discussed herein, the completion of the Company’s audit for 2023 includes additional procedures that are in process.
  • Accordingly, undue reliance should not be placed on the preliminary results set forth herein.
  • The management team believes these non-GAAP financial metrics are useful to investors to provide supplemental information in addition to the GAAP financial results.
  • To supplement the condensed consolidated financial statements, which are prepared in accordance with GAAP, we use EBITDA and cash net income as non-GAAP financial measures.

KBRA Assigns Preliminary Ratings to DC Trust 2024-HLTN

Retrieved on: 
Wednesday, March 20, 2024
Professional Services, Finance, Methodology, RevPAR, ADR, Acquisition, KBRA, TTM, Morgan Stanley, Washington Hilton, CMBS, NCF, FedEx, Restaurant, FedEx Office, KLTV, Engineering, Telescopic sight

KBRA announces the assignment of preliminary ratings to eight classes of DC Trust 2024-HLTN, a CMBS single-borrower securitization.

Key Points: 
  • KBRA announces the assignment of preliminary ratings to eight classes of DC Trust 2024-HLTN, a CMBS single-borrower securitization.
  • The collateral for the transaction is a $229.7 million non-recourse, first lien mortgage loan that is expected to be originated by Morgan Stanley.
  • The fixed rate loan has a four-year term and requires monthly interest-only payments that will be based on an estimated coupon of 7.90%.
  • The mortgage loan will be secured by the borrower’s fee simple interest in the Washington Hilton, a 1,107-key full-service hotel located in Washington, DC, in the Dupont Circle neighborhood.

Atour Lifestyle Holdings Limited Riding Waves of Shift to Experience-Focused Tourism

Retrieved on: 
Wednesday, April 3, 2024
RevPAR, Growth, Sport, Tourism, Trust, ADR, Travel, City, OCC, Ministry

SHANGHAI, April 3, 2024 /PRNewswire/ -- Atour Lifestyle Holdings Limited (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, reported robust growth in 2023 fueled by a rebound in domestic travel and its focus on experience-led offerings.

Key Points: 
  • SHANGHAI, April 3, 2024 /PRNewswire/ -- Atour Lifestyle Holdings Limited (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, reported robust growth in 2023 fueled by a rebound in domestic travel and its focus on experience-led offerings.
  • Atour, a trailblazer in the "lifestyle hotel" category, prioritizes delivering tailored, high-quality experiences for diverse consumers and scenarios.
  • Beyond an uptake in financial figures, Atour also saw major business metrics rise rapidly in 2023.
  • As of December 31, 2023, Atour had 1,210 hotels in operation across its network, representing a year-on-year growth of 29.8%.

H World Attends Hotel Investment Conference Asia Pacific Update 2024

Retrieved on: 
Friday, March 15, 2024
Conference, RevPAR, Growth, HICAP, Huazhu Hotels Group, Ecosystem, Multimedia, Deutsche Hospitality, Airline

HONG KONG, March 15, 2024 /PRNewswire/ -- From March 13th to 14th, the Hotel Investment Conference Asia Pacific Update 2024 ("HICAP UPDATE") was successfully held in Hong Kong. This conference focused on the dynamics and future prospects of the hospitality and travel industry in the Asia-Pacific region, discussing the latest development and investment opportunities and challenges in a variety of the region's hot markets. Nearly 75 leading industry experts were invited to speak at the 2024 conference. Ms. He Jihong, the Chief Strategy Officer of H World Group Limited("H World" or "the Group") attended the conference and delivered speeches on the Group's business and the development of the travel industry.

Key Points: 
  • HONG KONG, March 15, 2024 /PRNewswire/ -- From March 13th to 14th, the Hotel Investment Conference Asia Pacific Update 2024 ("HICAP UPDATE") was successfully held in Hong Kong.
  • He Jihong, the Chief Strategy Officer of H World Group Limited("H World" or "the Group") attended the conference and delivered speeches on the Group's business and the development of the travel industry.
  • As one of the fastest-growing hotel groups globally, H World ranks sixth in terms of the number of hotel rooms.
  • He emphasized that Southeast Asia emerges as a nascent market for H World, signaling a promising frontier ripe with untapped potential and strategic opportunities.

Steelman Partners Creates Mohegan's Inaugural Asian Resort - Celebrated Grand Opening March 5

Retrieved on: 
Friday, March 15, 2024
Local, Resorts World, Garden, Steelman Partners, Mohegan Sun, RevPAR, INSPIRE

LAS VEGAS, March 15, 2024 /PRNewswire/ -- Local architect agency Steelman Partners, who designed both Circa and Resorts World and was led by Paul Steelman, celebrated the opening of Inspire Korea on March 5. Steelman Partners was contracted in 2018 to be the resort's Design Architect. Inspire Korea is the largest privately funded construction project in Korea. 

Key Points: 
  • LAS VEGAS, March 15, 2024 /PRNewswire/ -- Local architect agency Steelman Partners, who designed both Circa and Resorts World and was led by Paul Steelman, celebrated the opening of Inspire Korea on March 5.
  • Steelman Partners was contracted in 2018 to be the resort's Design Architect.
  • "Creating Mohegan's inaugural Asian Resort, Inspire, was a delight, drawing upon the design ethos of Mohegan Sun, a prominent figure in Integrated Entertainment Resort development.
  • "We aimed to transport guests into an immersive Asian experience featuring opulent accommodations, exquisite dining options, and captivating entertainment.