Latest news: Marriott on China booking window; Maui leads Hawaii; Alterra’s $300M investment

Marriott: 3-day booking window in China. Marriott International said the booking window in greater China is now under three days, which amplifies caution around the travel environment in the world’s second-largest economy. CEO Anthony Capuano said at the Bank of America Gaming and Lodging Conference in New York City that the three-day window is the shortest he has seen. During its second-quarter earnings call, Marriott lowered its 2024 room revenue growth forecast, citing softer domestic travel demand in China and North America.

US hotels up YOY. The U.S. hotel industry from August 25-31 had positive comparisons year over year, according to CoStar data. Occupancy was 63.9% (up 1.9%), ADR was $153.67 (up 1.6%), and RevPAR was $98.18 (up 3.6%). Among the Top 25 markets, Tampa saw the highest year-over-year occupancy lift (up 15.2% to 61.7%) while Seattle posted the largest increase in ADR (up 12.5% to $218.08). The steepest RevPAR declines were seen in San Francisco (down 22.2% to $122.95) and Oahu Island (down 10.3% to $194.51).

$300M investment for Alterra. Alterra Mountain Co., a family of year-round mountain destinations which is owned by Denver-based KSL Capital Partners, announced a capital investment program of over $300 million focused on on-mountain improvements across its portfolio of North American destinations. Alterra will invest in new and refurbished lifts, additional snowmaking enhancement programs, summer activities and resort infrastructure. The improvements will include a major expansion of its Deer Valley Resort in Utah.

Airbnb: ADR, rent up in NYC. One year after New York City passed short-term rental regulations, Airbnb said consumers are facing all-time high hotel prices and residents are facing all-time high rents. The average hotel prices in New York rose 7.4% in 12 months, compared with only a 2.1% increase nationally, according to data from CoStar. Rent in New York City continues to rise as it increased 3.4% during the first 11 months of the law, according to StreetEasy, suggesting that other factors are driving up rent prices while vacancy rates for apartments in New York City have remained virtually unchanged (at 3.4%) since the law took effect, according to Apartment List.

Raines adds in New Orleans. Florence, South Carolina-based Raines has added the 101-key Hotel Theo, a Tapestry Collection by Hilton property in New Orleans, to its management portfolio. The hotel has rebranded from Hotel Magnolia and is now part of Woven by Raines, the lifestyle division of Raines. The property is owned by a pair of Dallas-based companies, TCOR Hotel Partners and TriGate Capital.

Maui remains top Hawaii market. A year after a series of tragic fires in Hawaii, Maui remains the top market for the state despite hotel performance declining year over year, according to STR data. Maui maintains the nation’s highest 12-month ADR at $551 and is approximately $120 higher than the second-highest destination, the Hawaii/Kauai Islands, with the Florida Keys achieving the highest 12-month ADR outside of Hawaii, at $357. Oahu was the only market in Hawaii that achieved hotel performance growth over the past year.

IHG adds first voco in Sweden. IHG Hotels & Resorts is opening its first voco hotel in Sweden with the 201-key voco Stockholm – Kista. First launched in 2018, voco hotels is one of IHG Hotels & Resorts’ fastest-growing brands with 71 open hotels and over 79 in its pipeline.

Radisson adds in Jordan. Radisson Hotel Group is adding the Radisson Collection Residence, Amman Abdoun in Jordan. The hotel will have 128 rooms, including 18 two-bedroom apartments and is scheduled to open in 2028.

Hyatt adds in India. Hyatt Hotels Corp. is opening the 150-key Hyatt Place Aurangabad Airport in India. The hotel marks the second Hyatt Place hotel in the state of Maharashtra and the 11th Hyatt Place hotel in the country.

Minor adds Avani in Singapore. Minor Hotels is partnering with Singapore-based Kajima Development and Abu Dhabi-based Alwathba Investment to open an Avani hotel in Singapore. The 13-story, 200-key Avani Singapore is scheduled to open in 2027. Avani currently operates 42 hotels and resorts in 24 countries.