Advance hotel booking data in 25 major North American markets shows that first-quarter corporate demand is down 2.4 percent year over year, according to TravelClick's North American Hospitality Review. The average daily rate on those bookings, however, is up 7.3 percent. Stronger group and leisure demand are offsetting the corporate booking decline, with overall committed occupancy up 1 percent. For full-year 2013, corporate transient demand is trending down 2.5 percent compared with last year, but group sales are up 2.2 percent, with strong gains on the books for the second and third quarters, according to the report.
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Kirk Kinsell, president of InterContinental Hotels Group's operations in the Americas, will become CEO of Loews Hotels & Resorts in March 2015,... read more »