In year-over-year measurements, the industry’s occupancy ended the month virtually flat with a 0.4-percent decrease to 45.1 percent. Average daily rate dropped 7.1 percent to finish the month at US$93.93. Revenue per available room for the month decreased 7.4 percent to finish at US$42.35.

The current year for the Europe hotel trade is likely to be one of recovery rather than growth, predicts STR Global.

The overall picture emerging from the Hogg Robinson Group (HRG) 2009 Hotel Survey shows room rates falling by between 3-4% on average between 2008 and 2009, a graphic indication of the worst year for the global economy since 1946. World GDP fell in 2009 for the first time since demilitarization after the Second World War. However, the survey also illustrates the different pace of recovery across economies and highlights long term global economic trends that have been accelerated by the global recession - with the economic ‘balance of power’ shifting from West to East.

Marriott International Inc. announces that its board of directors has declared the issuance of a cash dividend in the amount of US$0.04 per share on each share of Class A common stock outstanding of the company, payable on April 9 to shareholders of record on February 19.

Hospitality provider’s unique approach helps it outperform the market as it acquires properties and sees upturn in 2010