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