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After many months nay, years of speculation, Virgin Group officially announced cheap international airfare ticket the launch of Virgin Hotels , a new 4-star lifestyle hotel brand. The company plans to develop and operate up to 25 hotels within seven years, with the first property expected to open within 12-18 months, according to a report from HotelNewsNow.com s Patrick Mayock.
The recovery in the European hotel market continues in August with increases across all three performance measures when measured in euros , said Elizabeth Randall, managing director of STR Global. Whilst these results are still influenced by the weak comparables last year, the better economic conditions and the return of the business and MICE segments have assisted the recovery. This demand pick up has helped hoteliers to start rebuilding their average daily rates which is for year to August, however, still about 10 (US$13.38) below the YTD results achieved in 2008.
The region s occupancy ended the month with a 9.4-percent decrease to 53.0 percent, average daily rate increased 7.4 percent to US$137.83, and revenue per available room fell 2.8 percent to US$73.05.
Big news out of the Wyndham Hotel Group global conference, according to HotelNewsNow.com s Stacey Higgins. The company announced a license agreement with Planet Hollywood International to franchise the Planet Hollywood Hotel brand, making it Wyndham s 13th brand.
It will be a few months before Wyndham can discuss franchise opportunities, according to Eric Danziger, president and CEO of Wyndham Hotel Group, but the lion s share of growth will come from management contracts.
The hotels threatened with forced sale include the Crowne Plaza Hotel North Dallas-Addison, the Radisson Hotel Suites Dallas-Love Field and the Element Dallas Fort Worth Airport North. Hotels with more than US$120 million in debt are up for auction next month by the lenders, cheap international airfare ticket Foreclosure Listing Service reports.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects reported the August ABI score was 48.2, up slightly from a reading of 47.9 the previous month. This score reflects a continued decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was also up, moving from 53.1 to 54.6.
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