Taylor Swift may be singing, “You Need to Calm Down,” but fans in Asia aren’t listening. The singer’s highly anticipated Singapore tour in March is stirring up a travel storm in Southeast Asia.
09.12.2023 - 06:49 / skift.com
The Biden administration’s infrastructure spending blitz has put more construction laborers on the road for work this year, fueling a race by extended-stay hotel operators to win their business.
Data from Navan, a corporate travel management company, shows construction industry extended-stay lodging bookings are up 120% in the two years through the end of November. More broadly, the industry has outspent all other sectors on work travel overall by 9.2% in the 12 months through August as more workers temporarily relocate to live around project sites.
“If you look at the infrastructure bill and reshoring of American jobs, there’s a huge amount of new business coming in – 50 million to 100 million room nights over the next decade that really are going to feed the extended-stay profile,” Scott Oaksmith, chief financial officer of Choice Hotels, said during a recent third-quarter earnings call.
The Infrastructure Investment and Jobs Act passed in 2021 had targeted $1.2 trillion of transportation and infrastructure spending over five years and has been credited in part for helping construction employment weather a homebuilding downturn caused by rising interest rates. Construction employment has risen by 2.2% so far this year, outpacing the 1.55% increase in overall employment.
From the end of 2019 through the end of June, Choice Hotels experienced 73% growth in revenue per available room in the South Atlantic and a 400% increase in the Mountain West, a spokesperson for the chain said, areas that have seen a raft of project announcements under the IIJA.
Expansion of Choice Hotels’ extended-stay brands, which include Everhome Suites and MainStay Suites among others, has involved tracking large-scale infrastructure project announcements in order to cater to construction workers and related trades, said Anna Scozzafava, chief strategy officer and senior vice president for technology at Choice Hotels.
“We can follow the funding, and see where these jobs and investment dollars are going,” said Scozzafava.
This year and 2022 were among the strongest years for demand growth for Choice’s extended-stay brands, she said. “We’re getting construction crews, but also some trades that go along with construction as well. We had a big win … with a steel company in Georgia that needed rooms for six to seven months.”
Choice is not alone in looking to grow the category and in fact faces competition from Wyndham Hotels & Resorts, for which it has launched an unsolicited $7.8 billion takeover bid.
Choice is confident it can sell its offer to Wyndham shareholders without the opinion of Wyndham executives.
Wyndham has expanded investment in hotel-level marketing and its loyalty program in an effort to boost infrastructure-related
Taylor Swift may be singing, “You Need to Calm Down,” but fans in Asia aren’t listening. The singer’s highly anticipated Singapore tour in March is stirring up a travel storm in Southeast Asia.
The U.S. Travel Association is praising President Joe Biden's administration this winter after the U.S. Departments of State and Homeland Security moved to extend the visa interview waiver authority for low-risk applicants ahead of its previous December 31 expiration.The decision comes one month after the organization sent a letter to Secretary of State Antony Blinken and Secretary of Homeland Security Alejandro Mayorkas urging both agencies to extend the visa interview waiver authority, which gives consular officers the discretion to waive in-person interviews for certain low-risk nonimmigrant visa applications.These eligible applicants have previously visited the U.S. and are still subject to the same strenuous background checks and screening that all nonimmigrants receive.
With just weeks left in 2023, travelers are tallying their status-earning achievements.
Wyndham Hotels & Resorts announced that its Board of Directors unanimously determined the unsolicited exchange offer from Choice Hotels International to acquire all outstanding shares of the hospitality company is not in the best interests of its shareholders.
It’s been a busy year for the capital’s luxury hotel scene. A string of high-profile, and often high-priced, openings was crowned this autumn when the long-anticipated Raffles London at the OWO flung open its doors, taking over the building that once housed the Old War Office. Beyond such headline-grabbing launches, the accommodation offering in the city remains in rude health, with plenty of character available for travellers looking beyond the very top end of the market. There are boutique hotels squirrelled away in Georgian townhouses, budget pads in the midst of Piccadilly and huge complexes offering a world of bars, restaurants and entertainment across multiple floors.
A survey of hotel owners found many of them raising concerns about Choice Hotels‘ proposed hostile takeover of its rival Wyndham. Issues include the effect on their revenue and a potential increase in fees they pay.
Good morning from Skift. It’s Wednesday, December 13. Here’s what you need to know about the business of travel today.
Choice Hotels International announced the completed integration of the Radisson Hotels Americas business, just 16 months after Choice acquired the brand in August 2022.
Choice Hotels said on Tuesday it had bought enough Wyndham stock to nominate candidates to the board of Wyndham, its takeover target.
Stayntouch, the property management startup owned by hotel company MCR, has raised $48 million in venture capital.
The global aviation industry is expected to experience a significant increase in passenger traffic in 2024, according to the International Air Transport Association (IATA). This is good news for the airlines, though passengers may find that flights are even more full than they were this year.
AvantStay confirmed late Tuesday afternoon it cut 37 employees, or nearly 10% of its workforce. Responding to a Skift inquiry, the Los Angeles-based vacation rental property manager tied the layoffs to platform and tech improvements, adding that the company is profitable.