Hotel Industry Outlook
PKF: A Hospitality Investment Boom is on the Horizon
What Are the Main Challenges Facing the Hospitality Industry in 2024?
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Hotel Trends Page 3
The Bottom Line
JLL: Hotel Brands Check into New Verticals
Hotel companies are seeking fresh revenue streams from bespoke experiences and strategic partnerships.
U.S. Economic Outlook
Deloitte: Americans Still Aren't Thinking About Spending Like They Did Pre-inflation
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%
Hotel Operating Costs
Hotel Insurance - A Rising Expense With Limited Control - By Robert Mandelbaum and Christopher Nassa
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%.
North American Meeting Trends
Knowland Reveals a Significant Lift in Data Usage by Conference and Convention Centers
Knowland’s recent meeting planner survey revealed that groups are more likely to relocate events to alternative markets than move down in chain scale to reduce costs. This indicates an opportunity for non-hotel venues to compete more strategically for group business.
Market Report U.S.
U.S. Hotel Performance for Week Ending February 17th
U.S. hotel performance showed mixed results over the previous week, according to CoStar's latest data through 24 February.
U.S. Hotel Industry Outlook
Hotel Experts Predict Demand Shifts, Gauge Inflation's Impact on Room Rates - CoStar
Hotel executives say demand for hotels is growing but different than before, and new supply will be limited for years.
Paris Olympics
France Experiences Surge in Travel Demand Ahead of 2024 Summer Olympics with Americans Leading the Charge
Tickets for the 33rd Olympic Games went on sale on 30 November 2023, and travel demand to France has already increased substantially. For the period of the Olympic Games in 2024, flight bookings, not just searches, to Paris are up 125% compared to the same travel period last year.
Market Report India
Hopeful - an HVS ANAROCK HOPE 2024 Special Edition
As we unveil this special edition of 'hopeful' for the HVS ANAROCK HOPE 2024 conference, it's a time to reflect on the resilience and vibrant future of India’s hospitality sector. This edition is not just a collection of articles; it’s a beacon of optimism, mirroring the spirit of our magazine's name.
Global Construction Pipeline Trend Report
Over 1 Million Hotel Rooms Are Currently Under Construction Worldwide
There are 6,160 projects/1,096,748 rooms currently under construction worldwide at Q423, for a 2% increase by projects YOY.
Ancillary Revenues
Retailing for Success in 2024: Beyond the Hotel Room to Increase Bottom Line with Retail - By Mandy Murry
RevPar is no longer only tied to room revenue at your property - it's the total square footage. This is not groundbreaking news, but ask yourself this question. What are you doing to drive revenue separately from your room rate strategy? It is time to invest energy into thinking beyond the room and amenity packages that will lead you to discover ways to drive revenue beyond nightly stay and food and beverage.
Global Hotel Industry Performance
Global Urban Hotel Performance is Accelerating According to JLL
Global urban market performance is strengthening, propelled by a surge in international travel and the return of business and group demand. Markets like London, New York and Tokyo are expected to lead global RevPAR performance in 2024 as travelers continue to return to cities.
Gen Z Travelers
TikTok and Sober Travel: Gen Z is Redefining Travel - USATODAY
'I want to get there before it gets too touristy'
Global Hotel Industry Performance
74% of Global Hotel Markets Increased RevPAR to Start 2024
Growth was balanced with 64% of markets showing increased occupancy and 70% achieving a higher average daily rate (ADR) than last year.
All-Inclusive Resorts
JLL Report - Americas All-Inclusive Resort Sector Trends & Outlook
Demand for all-inclusive resorts is surging, with AI resorts in Mexico and the Dominican Republic averaging an occupancy recovery of 77% on a March 2022 TTM basis relative to 2019.
Online Travel Agencies (OTAs)
OTAs - Hotels Need a Chance to Compete, Including Through Consolidation - RealClear Markets
According to Morning Consult research commissioned by the American Hotel and Lodging Association, hotel bookings make up 15 percent of all U.S. e-commerce, with over 500 bookings occurring every minute. This is an extremely lucrative business model and generates billions of dollars for Online Travel Agencies (OTAs) every year.
Market Report Seattle
HVS Hotel Market Report - Seattle Hotel Market: A Shining Beacon of the Pacific Northwest - By Eileen Bosworth
In 2023, Seattle was a beacon of renewed strength in the Pacific Northwest given its vibrant concert and sports event calendar, record-breaking cruise season, and $1.9-billion expansion of the Seattle Convention Center. As a result of these factors, Seattle was one of the nation’s best-performing hotel markets during the summer.
Cloudbeds Platform
Cloudbeds Unveils Annual State of Independent Lodging Report
The second annual edition of the report offers a unique and data-rich perspective on the global independent lodging segment, shedding light on insights and trends from property types and segments often overlooked in industry reporting.
Spring Break Travel Trends
AAA Spring Break Trends - Cruises and International Trips on the Rise; Florida Tops List of Domestic Destinations
Cruising is off to a splashy start in 2024 with sold-out ships and inaugural sailings, and that strong demand is evident in Spring Break bookings. AAA Travel data shows a 28% increase in cruise bookings for March and April compared to last year, and a 60% percent increase for cruises departing from South Florida.
Global Hotel Industry Performance
STR Weekly Insights: 11-17 February 2024
The 10 highest hotel supply countries outside of the U.S. saw occupancy that was largely in line with the comparable week last year. Seven of the 10 countries saw an occupancy change between -2ppts and +2ppts.
Market Report Las Vegas
Super Bowl LVIII in Las Vegas Produced Unprecedented Hotel Performance Levels - Not Just for the Super Bowl but for Any Weekend in History
Las Vegas achieved the highest Super Bowl weekend average daily rate (ADR) and revenue per available room (RevPAR). However, the market's levels surpassed the forecast, easily overtaking the previous records held by Miami (2020). Friday and Saturday performance in Las Vegas was so high that it boosted weekly levels for the entire U.S.
Market Report Manhattan
HVS Hotel Market Report Manhattan - Post-Pandemic Momentum in Manhattan - By Roland DeMilleret and Patricia Shih
The Manhattan market was severely affected by the COVID-19 pandemic but has been experiencing a rebound, primarily driven by strong gains in average rate over the last three years. Legislative and supply changes are expected to positively affect hotel market trends going forward, and our demand forecast shows a rebound beyond 2019 levels by 2025.
Market Report U.S.
U.S. Hotel Performance for Week Ending February 17th
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar's latest data through 17 February.
Food And Beverage Trends
UNLV William F. Harrah College of Hospitality Students Reveal Top Three Trends from Specialty Food Association 2024 Winter Fancy Food Show
Upcycled and Upscaled, Fruits as Snacks, Non-Alcoholic Comes of Age among Trends from the 2024 Winter Fancy Food Show
Market Report Canada
Canada Hotel Occupancy Dipped in January, but Continued Growth in ADR
Transient occupancy fell 3.7% year over year, with most of the decline taking place on the weekends, suggesting that individuals are pulling back on discretionary spending