Decelerating: Third-quarter results for the U.S. lodging industry “continue to disappoint,” according to PwC’s November Hospitality Directions publication, which covers the sector’s near-term outlook. Growth is decelerating, with RevPAR growth less than 1%, the lowest it’s been since the beginning of the recovery from the 2008 recession; lodging supply growth outpaced demand, pulling down occupancy levels. The outlook for 2020: ADR will increase 0.5%; supply growth at 2.0%; occupancy slightly down to 65.9%.
Swiss-Belhotel in Vietnam: Hong Kong-based hotel manager Swiss-Belhotel International plans to add two properties to its portfolio in Vietnam: Swiss-Belhotel Suites & Residences Ha Long Bay will open before year-end, with 298 apartment-style rooms. In 2022, Swiss-Belresort Bai Dai Phu Quoc will open with 218 rooms and villas.
Hotel Group adds: Management, investment and development company The Hotel Group added a TownePlace Suites by Marriott in Ellensburg, Washington, to its portfolio. The 107-room property is scheduled to open in February 2021 and is be developed in partnership with Hogback Development. Marriott branded hotel.