Article - Hotel Spas Fill In Revenue Void During Recession - By Robert Mandelbaum and Tim Dick - To assess the impact of hotel spa departments on recent hotel operations, we analyzed the performance of 139 U.S. hotels that operate a spa and participated in CBREs Trends survey each year from 2018 through 2022. In 2022, these 139 hotels averaged 63.5% occupancy, along with a $426.78 average daily rate (ADR).
Article - Hotel Financial Performance Influenced by Changes in Hotel Food and Beverage Offerings - By Robert Mandelbaum and Ed Stacy - To learn how changes in hotel food and beverage operations have impacted revenues and expenses, we have analyzed the operating statements of 2,500 U.S. full-service, resort, and convention hotels that participated in CBREs annual Trends® in the Hotel Industry in 2021 and 2022.
Article - U.S. Hotel Property Tax Relief Varies By Geography - By Robert Mandelbaum - Based on a sample of more than 3,000 hotels from CBREs Trends in the Hotel Industry database, U.S. hotel property tax expenditures averaged $2,626 per available room (PAR) in 2022. This is 10.8% less than the $2,943 PAR recorded in 2019, before the COVID-19 pandemic. Concurrently, the earnings before interest, taxes, depreciation, and amortization (EBITDA) for these same properties fell by 1.7%.
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Rebecca Hillman is the first correction officer convicted and incarcerated for committing criminally negligent homicide on the job, the Manhattan District Attorney’s office said.