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Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have struggled to recover from the pandemic, any rise in cost ratios is an area of concern for owners and operators. ....
Article - Short-Term Rentals Continue Trend of Taking Market Share from Hotels - CBRE U.S. Hotels State of the Union March 2024 Edition - Hotel demand fell 2.0% in January, while short-term rental demand rose 1.3%. Despite taking share from hotels, increasing supply has created occupancy headwinds for short term rentals causing RevPAR to contract 6.6%. ....
There are so many things that make working at CBRE Hotels rewarding for me: my team (you are the secret sauce), working with industry-dedicated seasoned experts from across the globe (more than 500 professionals in every region), our range of services, our solutions mindset, and the ability to partner with you, our clients. You challenge us with your questions. You make us better, more thoughtful, more informed. You trust us with your data and trust us to guide you with our insights. We appreciate you. ....
Article - JLL: Hotel Brands Check into New Verticals - Hotel companies are seeking fresh revenue streams from bespoke experiences and strategic partnerships. ....