cheap hotels

Total Hotel Revenues Fell for the First Time, Further Pressuring Profits

March 17, 2026 Fadila

CBRE US Hotels State of the Union May 2024 Edition

CBRE US Hotels State of the Union May 2024 Edition

Key Takeaways:

Economy
Q1 economic growth was slower than expected.
1Q GDP came in at 1.6%, below CBRE’s 2.3% estimate. We expect disappointing 1Q growth will result in a downward revision to CBRE’s full-year 2024 real GDP growth forecast of 2.3%. Inflation is proving stickier than expected, resulting in a 70-bps increase in CBRE’s 4Q Fed Funds rate from 4.4% to 5.1%.

Higher leverage and the burndown of COVID savings put consumers at risk.
Excess Covid savings fell to essentially zero in March, from a high of $2.16 trillion in September 2021 and the personal savings rate fell to 3.2%, below the long-term average of 6.6%. Consumer leverage remains below pre-pandemic levels but has increased 0.24 percentage points since 1Q23.

The 82-bps contraction in borrowing rates drove a 3x increase in loan size.
The average hotel CMBS loan size increased from $15.3 million in March 2023 to $48.9 million in March 2024, however the number of loans originated fell from 28 to 10. Credit spreads contracted ~140 bps y/y partially offsetting the higher base rates.

Current Trends
March RevPAR decline was steeper, partly because of the shift in Easter.
March RevPAR declined 4.1%, owing to a 1.1% ADR decline and a 3.1% occupancy decline. Surprisingly, despite the benefits of the Easter shift, Resort RevPAR continued to decline in March, dropping 5.3%. Independents continued to weaken as trends continued to normalize to pre-pandemic levels.

Brand.com continued to take share from other channels during the quarter.
Brand.com market share increased 350bps in the quarter and segment demand hit 120% of 2019’s levels. Corporate and Group continued to improve, with demand nearly reaching 2019’s levels.

Total hotel revenues fell for the first time, further pressing profits.
Total hotel revenues per available room fell 0.2% in February, the first decline since the post-pandemic recovery. Top line declines and a 0.8 percentage point contraction in margins resulted in a 4.8% decrease in GOP.

Food for Thought
Easter shift drove short-term rental outperformance in March.
Short-term rental demand rose 15.2%, outpacing the 2.5% decline in hotel demand. This is no surprise as STRs are essentially 100% leisure, and they benefitted from the Easter shift. Cruise lines and short-term rentals continue to take share from traditional hotels, reaching 113% and 142% of 2019 levels, respectively in Q1.

Outbound international travel continues to outperform inbound.
Outbound international travel was 117% of 2019’s level in March compared to inbound visitation of 94%. Inbound visitation to both the East and West Coast hit post-pandemic highs in March as inbound visitation from Asia continued to increase, hitting 74% of 2019 in March.

TSA throughput increased 5.1% year-over-year in April.
TSA throughput reached 106% of 2019 levels during the month. Despite continued strength in passenger volumes, searches for paid and redeemed travel remained soft in April and Airport hotel RevPAR has lagged at down 1.5% in Q1.

Click here to download the report.

Tragedy as Malaysian influencer couple’s toddler son drowns in hotel pool while they were asleep

March 14, 2026 Fadila

A Malaysian influencer couple’s two-year-old son tragically drowned in a hotel pool while they were asleep in the room next door.

Jasmine Yong, took to Instagram on Saturday 18 May to tell her 464,000 followers the devastating news of her son, Enzo’s passing.

She wrote: ‘On Saturday (11 May), our family of three checked into a hotel to celebrate Mother’s Day.

Two-year-old Enzo, pictured, tragically died in a hotel pool while his parents were asleep next door

Mum of Enzo, Jasmine Yong and her husband, Lim Kong Wang pictured posing with their son. The couple had checked into a hotel to celebrate mother’s day when things went horribly wrong

Jasmine pictured holding Enzo. Everything had seemed normal when the couple fell asleep with Enzo snuggled up to them

A tribute to the couple’s son Enzo following his tragic death in an indoor hotel pool

‘On Sunday, Enzo was lying on our hotel bed. He had, as usual, snuggled up with us as he drank his milk and fell asleep.

‘We then took a nap, but realized Enzo was no longer in the bed with us when we woke up.

‘We noticed that the locked door to the indoor pool was unlocked and open, and we found Enzo in the pool.’

The family at home celebrating a birthday together before the incident after which Jasmine took to Instagram to share the horrifying story of Enzo’s death

Jasmine, who is in her 20s, posts about lifestyle, travel, beauty, and fashion and is also active on TikTok

Enzo gives his mother a kiss on the cheek, pictured, before the fateful accident

Terrified, Jasmine attempted to give the boy CPR, but he remained unresponsive. She and her husband Lim Kong Wang then rushed him in their arms to the hotel reception, where the staff called an ambulance.

Enzo was taken to a nearby hospital, where medics managed to revive his heartbeat briefly but sadly failed to regain consciousness.

He spent the following days bravely fighting for his life, but he sadly lost his battle on Friday 17 May.

Jasmine’s husband Lim Kong Wang, pictured with Enzo, is also an influencer with several hundred thousands of followers

The family pictured dressing up together before the accident. In a grieving video, Jasmine said her son had become a ‘happy angel, free from suffering and pain’

Jasmine is pictured sitting at a restaurant in the sun before the incident. The mother had tried to give her son CPR but he failed to regain consciousness

Mum, Jasmine pictured smiling before her son’s death. It is not clear where the tragedy happened, but the family did not think to have left their home country, Malaysia

It is not clear where the tragedy happened, but the family did not think to have left their home country, Malaysia.

Jasmine had told her followers of her son’s plight while he was in hospital.

When announcing Enzo’s death to her followers, she said: ‘We are grateful for everyone’s prayers and blessings.’

In a heartbreaking moment, the grieving mother added that she ‘has now become a happy angel, free from pain and suffering’.

Jasmine, who is in her 20s, posts about lifestyle, travel, beauty, and fashion and is also active on TikTok, where she has 507,900 followers. Similarly, her husband has several hundred thousand online fans, who love his funny videos.

At the moment, it is unclear if the police will investigate the case.

Hotel owners’ association moves HC against full day ban on sale of liquor on LS polls counting day

March 9, 2026 Fadila

An association of owners of hotels, restaurants and bars on Tuesday moved the Bombay High Court, challenging the orders passed by the Mumbai city and suburban Collectors, declaring the entire day of June 4, when the votes of the Lok Sabha elections will be counted, as a dry day.

A dry day means the purchase and consumption of alcohol are completely restricted at stores, restaurants and other places.

The Indian Hotel & Restaurant Association (AHAR) filed two separate petitions through advocates Veena Thadani and Vishal Thadani, claiming that it was arbitrary to ban the sale of liquor for the entire day as the counting of votes is likely to be completed and the election results would be declared by afternoon.

The plea is likely to be heard on Wednesday by a vacation bench.

As per the plea, the petitioner association had in April approached the Mumbai City Collector and the Mumbai District Suburban Collector, requesting them to review their decision declaring the entire day of June 4 as a dry day.

However, the collectors said no such review could be done as the orders were passed according to the directives from the Election Commission of India (ECI).

The petitions claimed that the association members pay huge amounts as license fees to the state government for carrying on business, whereas there are several illicit liquor manufacturers and bootleggers who have been manufacturing and selling illicit liquor as well as Indian Made Foreign Liquor (IMFL) and beer in Mumbai.

Whenever the authorized outlets for sale of liquor are closed, for various reasons, such as illegal businesses thrive and bootleggers make huge profits through the illegal and illicit sale of liquor, taking advantage of the fact that liquor is not officially available.

The pleas sought for the collectors’ orders to be modified to state that the establishments which sell liquor be permitted to open up for business after the declaration of results instead of the whole day.

Historic Hotel of America: The Biltmore Los Angeles inducted into famed organization | Business

March 4, 2026 Fadila

The Biltmore Los Angeles was inducted into Historic Hotels of America, the official program of the National Trust for Historic Preservation for recognizing and celebrating the finest historic hotels in the United States.

“Historic Hotels of America is delighted to induct The Biltmore Los Angeles, a Beaux-Arts style hotel built and opened on Oct. 2, 1923,” said Lawrence Horwitz, executive vice president of Historic Hotels of America.

“We commend The Biltmore Los Angeles team for its careful historic preservation work, stewardship and vision that will allow future generations of travelers to experience this unique historic destination.”

The Biltmore Los Angeles is managed by Millennium Hotels and Resorts.

To be selected for Historic Hotels of America, a hotel must be at least 50 years old; Been designated by the US Secretary of the Interior as a National Historic Landmark, eligible for listing in the National Register of Historic Places; and recognized as having historic significance.

“This prestigious recognition is a testament to the rich history, timeless elegance and exceptional hospitality that has defined The Biltmore for a century,” said Jimmy Wu, general manager and owners representative.

“Since our doors opened in 1923, we have had the honor of hosting presidents, celebrities, and discerning travelers from around the world, each leaving with unforgettable memories of their time spent within our hallowed halls.

“Being welcomed into the Historic Hotels of America family further underscores our commitment to preserving and celebrating our heritage while continuing to provide unparalleled experiences for our cherished guests.”

The ‘largest new resort’ in Cape May County set for grand opening – NBC10 Philadelphia

February 28, 2026 Fadila

Organizers, elected officials and other “guests and dignitaries” are set to gather in Wildwood Crest, NJ, on Thursday afternoon for the ribbon cutting of a property that is said to be the largest single resort in all of Cape May County.

On Thursday afternoon, Donald Cabrera, the mayor of Wildwood Crest will join Dan Alicea, president of Madison Resorts for the ribbon cutting on the $52 million Madison Resort Wildwood Crest — a property created after the company purchased The Oceanview Motel followed by the addition of the Royal Hawaiian in Wildwood Crest and to combine the two into one resort.

Organizers said, in a statement ahead of Thursday’s grand opening, that the new resort will “bring together the historic doo-wop stylings of the Oceanview Motel and combine it with the iconic Royal Hawaiian property next door, for one giant resort that will feature 200 guest rooms, three restaurants, two pools, cabana and poolside seating for 100+, two hot tubs, beachfront weddings, two fitness centers, five conference rooms, two rooftop event spaces and pet-friendly accommodations.”

In a statement, Alicea said this was a project two years in the making.

“We’re thrilled to bring our Madison Resorts family to the Wildwood Crest community,” he said in a statement. “With this opening, we’re excited to help save and preserve an important piece of Wildwood Crest history, while bringing the Jersey shore its largest new resort. We’ve invested more than $52 [million] in this project as we’re feeling bullish about the future of Wildwood Crest, Cape May and the Jersey Shore.”

Organizers said that they performed “major top to bottom renovations at both former hotels – while celebrating and preserving the doo-wop style architecture that Oceanview Motel was famous for.”

The new resort will offer over 200 rooms, three restaurants, two pools, two hot hubs and a wealth of other amenities.

For those looking to visit the new property, organizers say that the first tower of rooms is immediately available for those who want to be the first guests to experience the resort, with all towers and rooms online by grand opening weekend starting May 16th.

For more details, visit the Madison Resort Wildwood Crest’s website: www.madisonresortwildwoodcrest.com.

Tag: cheap hotels