February's job gains appear to validate the Federal Reserve’s cautious approach to lowering interest rates. We do not expect the central bank to begin cutting rates before June.
The decision, effective from March 15, 2024, was made by Euronext Paris's Expert Indices Committee following the quarterly review of the CAC 40 index.
Do you remember back in school when you learned about homographs? You remember, of course, those are words that have the same spelling as another word but have a different sound and meaning. What does this have to do with operational benchmarking? Is spelling important? Well, yes and no, spelling is always important, but when implementing operational benchmarking as part of the finance culture of the organization, it is important to understand what is significant in terms of your operation.
Roughly 7 in 10 Americans surveyed say they are still concerned about rising prices for everyday purchases, down only slightly from summer 2022 (83%) - when inflation peaked at 9.1%
For most U.S. hotel owners and operators, one of the major challenges in 2023 has been the need to control expenses amidst slowing revenue growth. Through September of 2023, the properties in CBRE's monthly survey of hotel operating statements have seen their total operating revenues increase by 7.4% year-over-year, while total operating expenses grew by 10.0% during the same period. The net result was a decline in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 0.2%.
Hyatt Reports Fourth Quarter and Full Year 2023 Results
System-wide rooms grew organically by 3.5% year-over-year, a record high. Development pipeline grew 1% sequentially and by 10% year-over-year to a record 240,000 rooms.
Scandic releases year end report 2023
In the hospitality sector, the Uniform System of Accounts for the Lodging Industry 11th edition (USALI) serves as a standardized framework, enabling hotels to utilize operational benchmarking effectively to assess and enhance their financial performance. When hotels adapt USALI reporting, leveraging its structured approach, they can compare their financial performance against industry standards and competitors.
Fourth quarter 2023 comparable systemwide constant dollar RevPAR increased 7.2 percent worldwide, 3.3 percent in the U.S. & Canada, and 17.4 percent in international markets, compared to the 2022 fourth quarter