Improved air connectivity and seat capacity are helping to make travel easier, both regionally and internationally, as airlines respond to traveller demand. Plus, interest in Asia-Pacific destinations is continuing to accelerate from its popularity surge last year.
The hotel supply across Metro Atlanta has grown significantly since the onset of the pandemic, particularly as compared to the rest of the nation. In this article, we provide an overview of notable supply and demand trends, both recent and on the horizon.
Occupancy: 58.9% (-1.8%) - Average daily rate (ADR): US$158.23 (+3.9%) - Revenue per available room (RevPAR): US$93.19 (+2.0%)
The rise in e-commerce platforms on the digital marketplace has lead to many successful peer-to-peer businesses operating on an apparent trust basis between provider and user. However, as the platforms expand and become distanced from their initial incarnation, the process of maintaining transparency has in many cases been disrupted. In this article, we examine the crucial role of transparency and effective conflict management in sustaining the success of two-sided markets such as Airbnb. As these platforms continue to evolve, addressing these challenges becomes paramount for their continued growth and viability.
In the recently released HSMAI Foundation Special Report: The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2023-2024, the second trend investigates how the gig economy and fractional staffing models are changing talent sourcing. Employers in the hospitality industry must adopt a marketing mindset to effectively attract and source the best talent.
The forecasted trends demonstrate a surge in outbound leisure spend and a staggering rise in future cruise bookings as well as strong interest in foreign destinations like Costa Rica, Portugal, Japan and Thailand.
Group business is driving industry performance. For the 10th consecutive week, group demand (among Luxury and Upper Upscale hotels) increased, rising 7.4% YoY. Group demand was just one percent below 2019.
While 2023 Lunar New Year produced positive performance, especially as the first since 2019 outside of a COVID lockdown, this year's holiday brought a different level of success to the country.
U.S. hotel performance increased from the previous week but declined year over year, according to CoStar's latest data through 9 March.
BCD Travel releases 2023 Cities & Trends Report
Drawing from a data set of 3000+ properties across 95+ countries, and representing everything from small hostels to hostel groups, Cloudbeds' State of Hostels report is packed with data. Stay ahead and discover why 2024 is the year of chasing demand.
We know that reputation management is important, but how involved should revenue managers be in that process? I brought this topic to the leaders of the HSMAI Revenue Optimization Advisory Board to discuss our role in reputation management. Here are our top five takeaways.
The benefits of a large hotel management company may seem obvious. However, when choosing a management company for your hotel, consider looking beyond the obvious and evaluating whether a more personalized and strategic approach is appropriate for your hotel investment goals. This article outlines the benefits of selecting a small hotel management company for the day-to-day operation of your hotel.
The report reveals that Canadians rank as the second highest global market for anticipated average trip spend and are prioritizing spontaneous, bucket list, and once in a lifetime vacations.
Tulsa's tourism industry has experienced a strong recovery from the COVID-19 pandemic. Tulsa experienced record-breaking revenue from tourism in 2022 and 2023, encouraging the local chamber of commerce to focus on sustaining tourism and community-building for the foreseeable future.
Sustained investor interest and strong operating conditions kept the hotel real estate market active in 2023 with transaction volume of approximately $1.72 billion, pacing slightly ahead of 2022 levels ($1.63 billion). Despite interest rate headwinds, confidence in the hotel asset class was evidenced by a diverse investor pool including new entrants eyeing hotels in a quest for cash flow amidst inflationary pressures.
National Associations and Technology groups lead in four out of five markets
Wellbeing in a hotel requires more than just a bigger spa - this was made plain by the participants in the Wellbeing Panel at ITB Berlin. The motto: think more holistically.
Hotel demand fell 2.0% in January, while short-term rental demand rose 1.3%. Despite taking share from hotels, increasing supply has created occupancy headwinds for short term rentals causing RevPAR to contract 6.6%.
American Express Releases 2024 Global Travel Trends Report
The market’s hotel performance was helped by several events including Gulfood (19-23 February), the 2024 FIFA Beach Soccer World Cup (15-25 February), the 2024 Dubai Duty Free Tennis Championships (18 February-2 March), and Untold Dubai Festival (15-18 February).
Boosted by Taylor Swift’s Eras Tour, the hotel industries in both Sydney and Melbourne posted their highest average daily rate (ADR) for any month on record, according to February preliminary data from CoStar.
Helped by Carnival, Rio de Janeiro's hotel industry recorded its highest average daily rate (ADR) and revenue per available room (RevPAR) since 2016, according to February preliminary data from CoStar.
Hospitality experts say customers at every price point want some of the same amenities during their stay, and owners must balance that.
Social media plays a complicated role in the fame game. It can be used to publicize good information about where to go and how to behave but can also be used to spread information about overrun destinations or undesirable behaviors.