Propelled by the driving force of the University of Alabama and the automotive manufacturing industry, Tuscaloosa’s lodging market quickly rebounded post-pandemic and trended upward through 2023. The outlook for area hotels remains positive, and interest in new hotel development is thriving in the greater market.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
According to flight tickets issued as of 13th February, total international travel from China in Q1 2024 is predicted to experience a 31% decline compared to 2019 levels, although showing a 7-percentage point increase from Q3 2023.
RevPAR showed modest year-over-year (YoY) growth in January, reflecting a return to pre-COVID patterns of low single-digit gains. RevPAR was lifted by a healthy ADR increase, which was partially offset by an occupancy decline. Demand across the U.S. has declined year over year for the past 10 months. Fortunately, supply increases have remained modest and are expected to remain low for the rest of the year as the pace of rooms in construction has slowed.
U.S. hotel performance showed mixed results over the previous week, according to CoStar's latest data through 24 February.
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.
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.
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.
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.
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