A new study commissioned by the city of Aspen and produced by former Aspen planning director Julie Ann Woods reveals that fractional ownership units in the Colorado ski resort have higher occupancy levels than traditional lodging alternatives.
The study is based on interviews with hospitality industry professionals in the area, surveys filled out by the general managers of two Aspen fractional properties, and confidential occupancy data shared by another Aspen properties. It concludes that occupancy at Aspen's fractional properties averages 60 to 65 per cent on a year-round basis, and can be in the 80 to 95 per cent range during peak season..
The study found there are 288 fractional occupancy rooms in the town, equivalent to around 13 per cent of all the lodging rooms in Aspen.
According to the Aspen Daily News, Woods recommends that the city, tourism information and booking services and the fractional properties devise a method where the properties can anonymously share lodging information so it can be aggregated into a community-wide average fractional occupancy number. Fifteen area traditional lodges participate in such a system with the Mountain Travel Research Program (MTRiP), which compiles occupancy data for Aspen, Snowmass, and 13 other western mountain resort destinations.
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the first week of December. In year-over-year comparisons for the week, occupancy rose 2.7 percent to 51.0 percent, average daily rate increased 2.7 percent to US$99.42 and revenue per available room finished the week with an increase of 5.4 percent to US$50.71.
The U.S. Travel Association is commended the new agreement that will speed the border process for Canadian travelers visiting the United States while enhancing security. President Barack Obama and Canadian Prime Minister Stephen Harper announced highlights of joint action plan at a White House ceremony on December 7.
(MIAMI BEACH, FL) -- As the world's art aficionados, celebrities and super wealthy converge on the shores of South Beach this week to celebrate the tenth anniversary of Art Basel Miami, the real celebrating should be done by the business proprietors in the local economy who will enjoy a multi-hundred million dollar economic windfall left in their wake.
Hospitality giant Marriott International has completed the spin-off of its fractional ownership and timeshare division, with equity shares of the new company, Marriott Vacations Worldwide Corporation, being distributed tax-free to Marriott International shareholders.
Based on new hotel data compiled by STR Global, hotel markets across the world reported mostly positive performance gains in October 2011. The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for October 2011.
(MARCO ISLAND, FL) -- Marco Island Marriott Beach Resort recently announced the expansion of its resort golf amenities with the addition of the 18-hole Hammock Bay Golf Course. The off-site facility, located only 10 minutes from the resort, is available exclusively to members and resort guests.
Join 34,000+ real estate professionals worldwide who receive our free weekly newsletter