Hotel News Now each week features a news roundup from a different region of the world. Today’s review covers the Americas.
STR, STR Global July performance results
US: During July, the U.S. hotel industry’s occupancy rose 1.7% to 71.1%, its average daily rate was up 4.1% to $112.18, and its revenue per available room increased 5.8% to $79.73, according to data provided by STR, parent company of Hotel News Now.
Americas: Compared to July 2012, the Americas region reported a 1.7% monthly increase in occupancy to 71%, a 3.8% monthly increase in ADR to $114.07 and a 5.5% monthly growth in RevPAR to $80.97, according to STR Global data.
STR, STR Global July pipeline data
US: The total active U.S. hotel development pipeline comprises 2,730 projects totaling 328,382 rooms, according to the “July 2013 STR Pipeline Report.” This represents a 9.1% increase in the number of rooms in the total active pipeline compared with July 2012 and a 23.1% increase in rooms under construction.
Caribbean/Mexico: The Caribbean/Mexico hotel development pipeline comprises 129 hotels totaling 22,090 rooms, according to the “July 2013 STR Construction Pipeline Report.”
Central/South America: The Central/South America hotel development pipeline comprises 248 hotels totaling 39,727 rooms, according to the “July 2013 STR Global Construction Pipeline Report.”
North Texas climbs out of the trough
Both the Dallas and Ft. Worth hotel markets are near new peak levels of RevPAR, according to an analysis from STR Analytics’ Carter Wilson. On a 12-month moving average basis, peak RevPAR for Dallas was $56 in September 2008; through June 2013 it was approximately $53, or 95% recovered. Peak RevPAR for Ft. Worth/Arlington was $61 in June 2008; now it stands at $57, or 90% recovered.
Hyatt launches two all-inclusive brands
More than a month after acquiring a stake in all-inclusive owner-operator Playa Hotels & Resorts, Hyatt Hotels Corporation announced two new all-inclusive brands: Hyatt Zilara and Hyatt Ziva. The former will focus exclusively on adults, while Ziva will focus on families.
Hyatt already has three hotels eyed for conversion. The Royal Cancún and Barceló Los Cabos will be rebranded as Hyatt Zilara Cancún and Hyatt Ziva Los Cabos, respectively, during the fourth quarter. Hyatt Ziva Rose Hall, Jamaica, formerly the Ritz Carlton Golf Resort & Spa, Rose Hall, Jamaica, will open in early 2014. Each resort will undergo a multimillion dollar renovation as part of its rebranding.
Brazil hotels maintain growth
Brazil hotels haven’t missed a beat during the past eight years, maintaining consistent growth, according to Jones Lang LaSalle’s “Lodging Industry in Numbers Brazil 2013” report. Brazilian hotels’ RevPAR grew another 8.8% in 2012 compared to 2011. According to Brazilian investors, hotels are still on the “hot spot” list as operating results continue to show gains above inflationary rates, with average gross operating profit increasing by 7.9% year over year.
Caribbean hotels report double-digit NOI boost
Caribbean hotels enjoyed an average 10.9% increase in net operating income in 2012, according to a survey conducted by PKF Consulting USA. This is the second consecutive year Caribbean hotels experienced a double-digit increase in NOI and the highest annual growth in profits Caribbean hotels have seen since 2008.
Peru plans off-balance, cliff-edge hotel
Designed by Spanish architecture firm OOIIO, the Unbalance Hotel (the project's working title) resembles a tilted photo frame at the edge of a high cliff in Lima, Peru, according to a report on cnn.com. A private Latin American investor, who]ich OOIIO won’t name, is said to be pleased with the design.
If approved, the Unbalance Hotel is meant to serve as both a hotel and congress center, consisting of 125 rooms, restaurants, conference rooms and an exhibition space.
Panama gets a second Tryp by Wyndham
Wyndham Hotel Group on 5 August announced the opening of the 331-room Tryp by Wyndham Panama Albrook Mall, marking the select-service hotel brand’s largest hotel in Central America and second property in Panama City, Panama. The hotel will be owned by Corporacion Hotelera de Panama, S.A., and managed by Bristol Hospitality Group.
A Hilton for San Juan
A 571-room hotel in San Juan, Puerto Rico, formerly known as Conrad San Juan Condado Plaza, has been renamed and rebranded as The Condado Plaza Hilton, which will be the fourth Hilton Hotels & Resorts property in Puerto Rico, joining Caribe Hilton, San Juan; El San Juan Resort & Casino; and Hilton Ponce Golf & Casino Resort.
In 2008, the property was revamped and redesigned by noted designer Leo Daly, and in 2009, branded as part of Hilton Worldwide's Conrad Hotels & Resorts portfolio.
FibraHotel closes on Mexico hotel acquisition
FibraHotel, a real estate investment trust specialized in urban business-class hotels in Mexico, closed the acquisition of the Real Inn Mexicali Hotel, formerly known as the Crowne Plaza Mexicali Hotel. This is the second closing by the company of a hotel to be rebranded under the Real Inn brand and professionally operated by Hoteles Camino Real S.A. de C.V.
With the closing of the 158-room Real Inn Mexicali Hotel, FibraHotel's portfolio consists of 41 hotels with 5,881 rooms, three of which are under development.
Compiled by Samantha Worgull.