WASHINGTON – 19 September 2024 – The U.S. hotel industry reported mostly negative year-over-year comparisons, according to CoStar’s latest data through 14 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

8-14 September 2024 (percentage change from comparable week in 2023):

• Occupancy: 66.6% (-1.7%)
• Average daily rate (ADR): US$162.05 (+0.2%)
• Revenue per available room (RevPAR): US$107.86 (-1.4%)

Among the Top 25 Markets, San Diego saw the highest year-over-year increase in occupancy (+10.5% to 79.9%).

Chicago reported the largest lift in ADR (+15.5% to US$216.57).

The steepest RevPAR decline was seen in San Francisco (-37.2% to US$171.26), due to a comparison against the week of Dreamforce 2023.

For more information about the company and its products and services, please visit www.costargroup.com.

A total of 456 deals (mergers and acquisitions (M&A), private equity and venture financing) were announced in travel and tourism sector for the period of January to August 2024, which was a year-on-year (YoY) decline of 12.6% in deal volume, according to GlobalData, a leading data and analytics company.

An analysis of GlobalData's Deals Database revealed that the travel and tourism sector saw the announcement of a total of 522 deals during January-August 2023.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector's deal activity reflects a cautious approach by deal-makers even though the regional and country-specific data reveal a mixed picture with majority experiencing contraction.”

During January to August 2024, North America, Asia-Pacific, and South and Central America regions reported YoY decline in deals volume of 32.9%, 17.9%, and 21.4%, respectively, whereas the number of deals for the Middle East and African region mostly remained at the same levels. However, Europe saw a 12.5% improvement in deal volume during January-August 2024 compared to January-August 2023.

Similarly, the US, China, Australia, and France experienced YoY decrease in deal volume by 32.9%, 44.1%, 25%, and 47.6%, respectively, during January-August 2024. However, deal volume in the UK, South Korea and India mostly remained at the same levels, whereas Japan, Germany and Spain witnessed improvements.

Meanwhile, the number of M&A deals and venture financing deals YoY decreased by 9.2% and 25.8%, respectively during the review period. Private equity deal volume, on the other hand, remained flat.

Bose concludes: “This period of reduced deal flow could signal an impending shift, with potential for strategic realignments and targeted investments as the sector adapts to new post-COVID-19 pandemic realities and evolving consumer preferences. Deal makers should remain attentive to the emerging trends and opportunities that may drive future growth in this dynamic sector.”

Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

SOOKE, British Columbia, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Sooke Harbour House today announced its grand reopening after a four-year closure for extensive renovations. Located on the rugged west coast of Vancouver Island, this oceanfront boutique resort now offers 28 thoughtfully renovated rooms, unparalleled outdoor spaces, and the signature Copper Room Restaurant, serving locally inspired, made-from-scratch cuisine.

Sooke Harbour House has a rich history dating back to the 1920s, and through its recent transformation, it continues to honor its legacy while embracing a fresh, modern approach.

“We’ve built on the past, but we don’t live in it,” said General Manager, Manfred Agath. “Sooke Harbour House has always been ahead of its time, and now we are taking it forward into a new era. The extensive renovations—especially our state-of-the-art kitchen, redesigned grounds, and updated rooms—will help us create a new level of service and hospitality for both local guests and travelers from around the world.”

Renovation Highlights:

• Cost: $14 million.
• Length: Renovations began in 2021 and took three years to complete.
• Materials & Design: The renovation emphasizes the use of local materials, including live-edge wood and hardwoods, reflecting the natural beauty of Vancouver Island.
• Top Features: The resort boasts a new outdoor patio seating area for up to 125 people, a wedding pavilion just steps from the ocean, and upgraded guest rooms that blend west coast charm with modern amenities.
• Kitchen Features: The newly designed, state-of-the-art restaurant kitchen supports a culinary program focused on innovation and excellence, facilitating an elevated dining experience.

Guest Room Details:

• Artwork & Design: Each room showcases carefully curated artwork from local and regional artists celebrating the spirit of the Pacific Northwest.
• Smart Rooms: Guests can enjoy modern conveniences such as voice-activated controls and high-speed Wi-Fi.
• Views & Atmosphere: With 27 rooms offering direct ocean views, private balconies or patios overlook the majestic Olympic Peninsula and the Pacific Ocean, where guests may spot whales, seals, sea lions, and eagles.
• Fireplaces: Every room features a uniquely designed west coast-style fireplace with available fireplace service.

Culinary Program:

• The Copper Room: Open from 3–5 PM for Happy Hour and 5–9 PM for dinner, The Copper Room features a west coast-inspired menu using fresh, local ingredients.
• Local and Regional Ingredients: Highlights include Fanny Bay oysters, Metchosin area farm-fresh vegetables, and Two Rivers meats.
• Cocktail Program: The restaurant offers an expanding, signature cocktail menu utilizing international and locally sourced spirits and a focus on creativity.

VICTORIA, BC, Sept. 25, 2024 /CNW/ - Today, the Parkside Hotel & Spa announces the launch of two new stargazing packages in partnership with the Centre of the Universe in Victoria, BC, offering guests a unique experience under the night sky.

The two packages are designed to provide an unforgettable adventure for guests of all ages and interests.

The exclusive Spectacular Stargazing package add-on starts at $250 and requires a minimum advance booking of a two-night suite stay. This intimate experience is perfect for couples seeking a romantic getaway or families looking to create lasting memories under the stars. Package details:

• A Welcome Stargazing Package with a Star Trail Map of Victoria, Binoculars, Red-Light Flashlight and Virtual Parkside Guide to Stargazing
• One-night Private Patio Setup for star viewing, including:
  • High-Quality Telescope and Picture Telescope
  • Books, Sky Maps and Star Finders
  • Lounge Chairs, Blankets, Pillows and Rug
  • Cozy Fire Pit
  • Treat Cart with Complimentary Hot Chocolate and Four Star-Themed Sugar Cookies

The Celestial Exploration package add-on starts at $100 and requires advance booking of a minimum two-night suite stay, allowing guests to explore the night sky at their leisure. Ideal for astronomy enthusiasts and curious minds, this package offers a perfect blend of education and adventure. Package details:

• Stargazing Trail Map and Virtual Parkside Guide to Stargazing
• Blankets to snuggle up in
• Pair of Binoculars

The Centre of the Universe is a renowned astronomical education facility in Victoria, BC. Known for its engaging programs and knowledgeable staff, the Centre of the Universe offers visitors an opportunity to explore the wonders of the universe through interactive exhibits, planetarium and full dome movies, virtual reality experiences and the chance to see the historic Plaskett telescope. This amazing machine mapped the Milky Way Galaxy. "This collaboration with The Parkside Hotel and Spa brings more awareness to astronomy and inspires people to look up and explore the night sky," shares Centre of the Universe Board Member Ben Dorman. "We're so fortunate to have  the national historical site—The Dominion Astrophysical Observatory—right here in Victoria and are delighted to be able to share the wonders of the sky with more and more people."

The Parkside Hotel & Spa guests are invited to explore The Centre of the Universe. Admission details and Star Party event information are available at https://centreoftheuniverse.org/.

By blending luxury, education and environmental stewardship, these new stargazing packages further establish The Parkside Hotel & Spa as an innovative leader in the hospitality industry in Victoria. Committed to sustainability and providing unique experiences, The Parkside Hotel & Spa continues to offer guests opportunities to connect with the environment and community.

"We are excited to partner with the Centre of the Universe to offer our guests unique stargazing experiences to connect with the natural beauty of the night sky in a truly memorable way," said Trina White, general manager of The Parkside Hotel & Spa.