Vacation & Leisure Real Estate Real Estate News
Vacation & Leisure Real Estate
U.S. Hotel Market Performing Well in Early December
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the first week of December. In year-over-year comparisons for the week, occupancy rose 2.7 percent to 51.0 percent, average daily rate increased 2.7 percent to US$99.42 and revenue per available room finished the week with an increase of 5.4 percent to US$50.71.
U.S. Travel Association Applauds New Canadian Border Processing Deal
The U.S. Travel Association is commended the new agreement that will speed the border process for Canadian travelers visiting the United States while enhancing security. President Barack Obama and Canadian Prime Minister Stephen Harper announced highlights of joint action plan at a White House ceremony on December 7.
Art Basel Miami Becomes $500 Million Economic Stimulus Package for Local Economy
(MIAMI BEACH, FL) -- As the world's art aficionados, celebrities and super wealthy converge on the shores of South Beach this week to celebrate the tenth anniversary of Art Basel Miami, the real celebrating should be done by the business proprietors in the local economy who will enjoy a multi-hundred million dollar economic windfall left in their wake.
Marriott Finalizes Fractional, Timeshare Spin-offs
Hospitality giant Marriott International has completed the spin-off of its fractional ownership and timeshare division, with equity shares of the new company, Marriott Vacations Worldwide Corporation, being distributed tax-free to Marriott International shareholders.
