Each day, we curate a bite-sized round-up of the best industry news from across the world. We search the web for the latest hospitality updates and travel trends, so you don’t have to. Get comfortable with a coffee and tuck in to our daily must-reads
1. US hotel industry reports positive results for February
Three key US hotel industry performance metrics saw growth during February 2019, according to data from STR. In a YOY comparison with the same period last year, occupancy increased 0.7% to 62.2%, while ADR increased 1.9% to US128.94 and revenue per available room grew 2.6% to US$80.15.
2. Number of hotel rooms in Bucharest to rise by 10%
According to Collies International, the number of hotel rooms in Bucharest is expected to increase this year by up to 1,500 units (10%). This growth follows the inauguration of four big hotels, including new brands: Indigo (brought by Intercontinental), Courtyard (by Marriott), Autograph (by Marriott) and Corinthia Hotels International.
3. Hotel investment in Singapore to get a boost this year
Hotel transaction volume for Asia-Pacific is expected to hit US$9.5bn this year, showing an increase of 15% from last year’s US$8.3bn, according to JLL’s latest Hotel Investment Outlook. A series of recent transactions, including the sale of Ascott Raffles Place, Singapore to a private investor for S$353.3m, indicates greater investor appetite.
4. Most sustainable tourist destinations named for 2019
After its many efforts to protect its environment, Palau has been named the world’s most sustainable destination at ITB Berlin. Ljubljana, Slovenia took home the Best of Cities award, while Gozo in Malta received Best of Communities and Culture. Portugal was also recognised with the Best in Europe award, while the Republic of Guyana was named Best in Ecotourism.
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Nicola Donovan is a travel writer for Click.More by Nicola Donovan
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