Man walking in hotel lobby to the left and man checking in at the right

BREAKING INDUSTRY NEWS

Hotel Industry Seeing Positive Signs

  • Hotels are doing better overall – Occupancy reached 60%, with room prices (ADR) up 2.2% and revenue per room (RevPAR) up 3.4% compared to last year.
  • Chicago’s hotel occupancy jumped 14.4%, while New Orleans hotels made more money thanks to hosting Super Bowl LIX.
  • After hosting Super Bowl LVIII in 2024, Vegas hotels saw fewer bookings and lower prices compared to last year. | SOURCE: HotelNewsResource

MGM Resorts Data Breach Settlement

  • MGM Resorts Settlement: MGM Resorts has agreed to a $45 million settlement for data breaches in 2019 and 2023, which exposed guests’ personal information, including names, addresses, emails, and in some cases, Social Security numbers and passports.
  • Compensation Details: Affected individuals can receive up to $15,000 if they provide documentation of significant financial losses. Most claimants will get between $20 and $75, depending on the type of personal information exposed.

  • Claim Deadline: To receive compensation, claims must be submitted by June 3, 2025. Victims may also be eligible for one year of identity theft protection and $1 million in fraud/identity theft insurance. | SOURCE: The Sun

Roosevelt Hotel Sale

  • New York City’s iconic Roosevelt Hotel, owned by Pakistan International Airlines, is expected to be sold for up to $1 billion after the city relocates migrants currently housed there by June. The property, adjacent to Grand Central Terminal, is attracting interest from major developers. | SOURCE: NY Post

HOTEL REVENUE & PRICING STRATEGIES

Hilton’s Optimism

  • Hilton Worldwide Holdings Inc. expressed increased optimism for 2025, citing a favorable business environment post-U.S. elections. The company forecasts a 2% to 3% systemwide top-line growth, with net unit growth expectations at 6% to 7% for 2025. In Q4 2024, Hilton reported a 3.5% increase in RevPAR and adjusted earnings of $1.76 per share, surpassing estimates. | SOURCE: Hilton

REGULATORY & LEGAL UPDATES

New York’s Plastic Ban

  • Effective January 1, 2025, New York banned single-use plastic toiletry bottles in hotel rooms under 12 ounces. Hotels with 50 or more rooms must comply immediately, with all hotels expected to adhere by 2026. Non-compliance can result in fines up to $500. | SOURCE: NY Post

SEASONAL TRENDS

Mardi Gras Impact

  • Best Mardi Gras hotel occupancy since COVID-19 – New Orleans hotels averaged 86% occupancy between Feb. 28 and Mardi Gras, with Endymion Saturday peaking at 95%.
  • Still not back to pre-COVID levels – Before the pandemic, Mardi Gras hotel occupancy regularly hit 95%, but numbers are improving compared to last year’s 81% average.
  • Super Bowl week boosted tourism – French Quarter and CBD hotels hit 97% occupancy during Super Bowl weekend, with average room rates nearing $1,000 per night. | SOURCE: Axios