Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover
Adam and Larry Mogelonsky | January 11, 2023
Four Creatively Destructive Forces for the Hotel Industry
Larry and Adam Mogelonsky | July 13, 2022
Hotel Recovery
Visa Progress in India Results in 50% Reduction in Applicant Wait Times
U.S. Travel Association | April 18, 2023
WASHINGTON (April 18, 2023)—Wait times for U.S. visitor visas among applicants in India, a top source of visitors to the United States, declined rapidly in recent weeks—dropping from 669 days in mid-March to 337 days in early April. This signals much-needed progress that follows steps taken by the U.S. Department of State to reduce extreme visitor visa delays. “The results we’re seeing in India are proof that—with the right tools—State can make significant progress on this issue,” said U.S. Travel Association President and CEO Geoff Freeman. “However, there is clearly more work ahead to lower wait times worldwide.” ...
U.S. Travel Applauds Federal Return-to-Work Plan, Encourages Admin to Set Timeline
U.S. Travel Association | April 17, 2023
U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on the Biden administration’s new guidance for federal employees to return to in-person work: “This action is a positive step toward returning the country’s largest employer to the office and engaging with the private sector. Federal employees are critical to the business travel segment, driving innovation and collaboration at meetings and conferences across the United States. These workers are also vital to strengthening urban centers, making these communities more attractive to visitors. We thank the Bide...
The Pennsylvania State University’s Emma Carlson and Kara Booth Win 2022 Hospitality Asset Managers Association (HAMA) Student Case Competition
HAMA | April 13, 2023
Students Provided Insights Into “After Effects of COVID-19: Labor Challenges" STATE COLLEGE, Pa., April 13, 2023—Officials of the Hospitality Asset Managers Association (“HAMA”) today announced that the 4th year students Emma Carlson and Kara Booth of The Pennsylvania State University were selected as the 2022 winners of the Seventeenth Annual HAMA Student Case Competition. The PSU team was chosen from a select field of top hotel schools. Student teams researched and prepared a case study from a list of topics that currently impact the hotel industry, including: Inflation and the rising cost of labor and raw materials ...
Nashville Q2 2023 Lodging Update
Marc Greeley | April 10, 2023
By Marc Greeley Nashville hotels recovered substantially over the last twelve months, as corporate and meeting and group demand bounced back in 2022 following slower growth in the year prior. In the same period, ADR reached unprecedented peaks across the Nashville market, buoyed by less price sensitivity among travelers and new luxury hotels, the latter becoming a strong focus for investors. Moving forward, rate growth will likely moderate, as negotiated group and commercial rates normalize overall rate levels; however, as the rate ceiling continues to rise and demand returns, hoteliers are unlikely to discount rates. Nashville 2023–2...
The Economic Impact of COVID-19 on Switzerland and Other Developed Countries
Dr Isabella Blengini | April 6, 2023
By Dr. Isabella Blengini How Covid hit the economy The Covid health crisis translated into an economic crisis through two main channels. On the one hand, health issues reduced the availability of labor force, thus reducing production. On the other hand, the great lockdown, necessary to fight the disease, limited the ability of some sectors to produce (either because they were directly blocked or because they could not receive intermediary goods necessary for production). Besides the above-mentioned negative supply shocks, the economy was also hit by a negative demand shock due to several reasons including people losing their jobs and...
Recent Lodging Trends and Outlook for Chicago, Illinois
Amy Schmidt | April 5, 2023
By Amy Schmidt, Brian Arevalo Despite the COVID-19 pandemic, readers of Condé Nast Traveler magazine have voted Chicago as the best big city in the U.S. for the last six years. Chicago’s numerous attractions include unique dining experiences, modern hotels, diverse neighborhoods, and an abundance of arts and entertainment venues. The market also benefits from its proximity to other major markets and its popularity as a meeting and group destination. Data for the Downtown Chicago market is outlined below, illustrating a strongly rebounding economy as of year-end 2022. Data for Chicago as of December 2022 Sources: Choose Ch...
Bags Packed: Reuniting With Lost Vacations
Deloitte | April 3, 2023
By Anthony J. Jackson, Peter Caputo, Maggie Rauch, Stephen Rogers Prolonged inflation has taken its toll on consumers’ finances. Even as inflation rates show signs of easing,1 roughly four in 10 Americans surveyed in Deloitte’s Global State of the Consumer Tracker feel financially worse off compared to a year ago.2 Many continue to cite concerns around savings and nearly half still say they’re delaying large purchases.3 Americans’ sense of financial well-being seems to have taken a hit, and over the past year, so has spending confidence.4 Recession warnings certainly aren’t making matters any better. Through all the gloom, ...
With Summer Travel on the Horizon, 7 in 10 Americans Are Ready to Roam Despite Economic Challenges
MMGY Global | March 31, 2023
MMGY Global survey observes decrease in overall travel intent but also notable upticks in trip frequency, international trips and planned spending With the spring break travel season in full swing for most Americans, new research by MMGY Travel Intelligence suggests that U.S. travel intentions may be softening somewhat overall. According to the latest edition of the research firm’s 2023 Portrait of American Travelers®study released today, 7 in 10 U.S. adults plan to take a vacation in the next 12 months. While still a strong majority at 70%, the figure is down from 73% in October and down significantly from 86% a year ago. “Any so...
Norfolk-Virginia Beach MSA: A Full Recovery
Chelsey Leffet | March 31, 2023
By Chelsey Leffet The Norfolk-Virginia Beach MSA comprises several cities aside from Norfolk and Virginia Beach, including Chesapeake, Suffolk, Newport News, Hampton, Portsmouth, and Williamsburg. The region’s economy revolves around the federal government, the military, the aerospace industry, and the transportation, construction, and healthcare sectors. Norfolk-Virginia Beach MSA vs. Top 25 U.S. Markets Historically, this MSA has performed roughly 50% below the top 25 U.S. markets in RevPAR. However, in 2020 and 2021, the market was able to outperform many other top 25 markets and closed the gap substantially in RevPAR performanc...
Vaccine Mandate Repeal Will Boost Travel, U.S. Economy
U.S. Travel Association | March 30, 2023
WASHINGTON (March 30, 2023)—U.S. Travel Association President and CEO Geoff Freeman issued the following statement on the U.S. Senate’s passage of H.J. Res. 7, a bill to terminate the federal COVID-19 emergency declaration ahead of its May 11 expiration date: “Today’s bipartisan action by Congress to lift the vaccine requirement for travel to the U.S. eases a significant entry barrier for many global travelers that will move our country forward. “To further increase global competitiveness, the Biden administration must set a goal to reduce wait times to 21 days for U.S. visitor visas, which still exceed a year in our top 10 vi...
2023 Hotel Performance Outlook for Denver
Katy Black | March 22, 2023
By Katy Black With occupancy nearing the 70% mark and ADR levels approximately 4% above 2019 levels, the Denver lodging market achieved a RevPAR level in 2022 that was approximately $5 below 2019 levels. In line with the top 25 major metropolitan areas in the U.S., ADR has led the way in the recovery, with occupancy remaining below prior peaks. Compared to the overall statistics for the top 25 major metropolitan areas, Denver has recovered more from an occupancy perspective but less from an ADR perspective. For the major markets, ADR is up $15 from 2019, on average, while Denver’s ADR only increased $5. As a result of slower ADR growt...
Santiago Leads the Recovery of the Travel and Tourism Sector in Chile
WTTC | March 17, 2023
In 2022, international spending grew by 490% compared to 2021, reaching more than 0.5 trillion dollars Jobs corresponding to the sector increased by 26.4%, equivalent to almost 2% of total local jobs London, United Kingdom: The World Travel and Tourism Council ( WTTC ) revealed in its Economic Impact of Cities report that Latin America is making steady progress in reactivating the sector, and highlighted the role of the Chilean capital in tourism recovery. The Economic Impact of Cities report, produced in collaboration with Oxford Economics, analyzed key factors for the Travel & Tourism sector in 82 cities around the world, inclu...
Travel Managers Weigh In on Business Travel’s Outlook for 2023
GBTA | March 16, 2023
New report from GBTA and Spotnana reveals travel manager sentiment on post-pandemic recovery, changing priorities, economic risks, and balancing cost savings and the traveler experience Alexandria, VA and New York City (March 16, 2023) – A majority of U.S. corporate travel buyers expect their company’s business travel to ramp up and return to pre-pandemic levels by the end of 2023. Despite concerns about inflation and rising prices, only one in five travel managers say their companies have begun to limit business travel. Since the onset of the pandemic, however, demands on travel managers’ time and priorities have grown, including ...
The U.S. Virgin Islands: An Anticipated Record-Breaking Year
Kristina M. D'Amico | March 16, 2023
By Kristina M. D'Amico After the devasting impacts of Hurricanes Irma and Maria in 2017, the U.S. Virgin Islands, which comprise the islands of St. Thomas, St. John, and St. Croix, faced a significant rebuilding effort to reopen their hotel inventory. As the renovations and reopenings from the 2017 hurricane season were nearing completion, COVID-19 began to affect the islands. However, the U.S. Virgin Islands have a significant competitive advantage over the other islands in the Caribbean because they benefit from U.S. territory status. As a result, the U.S. Virgin Islands avoided the complicated COVID-19 travel restrictions that exist...
Sydney WorldPride 2023 Pushed Hotel Performance to Pre-Pandemic Levels
STR | March 15, 2023
SYDNEY—Sydney WorldPride 2023 drove the market’s hotel average daily rate (ADR) and revenue per available room (RevPAR) above pre-pandemic levels, while occupancy remained slightly below 2019, according to preliminary data from STR. During the 17-day event, Sydney’s highest occupancy levels were recorded on Saturday, 4 March (95.8%) and Saturday, 25 February (95.4%). Throughout the period, daily occupancy remained above 80% with only three days falling below that mark. “WorldPride was held for the first time in the Southern Hemisphere with Sydney hosting a series of events across two weeks to commemorate LGBTQIA+ pr...
The St. Louis Lodging Market’s Enduring Recovery
Daniel P. McCoy | March 14, 2023
By Daniel McCoy, Benjamin Giebler Similar to the rest of the nation, hotel metrics in St. Louis plummeted in 2020 at the onset of the COVID-19 pandemic, but the market had entered a healthy recovery phase by the spring of 2021. Growth accelerated through the remainder of the year, fueled by a surge of leisure travel and the slow reemergence of commercial demand, as well as the return of conventions and major events. Demand continued to improve in 2022, as corporate employees gradually returned to offices and attendance at large conventions and events increased. Rising labor costs and the shift in travel patterns, as leisure demand rapid...
U.S. Travel Comments on End of Testing Policy for Inbound Chinese Travel
U.S. Travel Association | March 10, 2023
U.S. Travel Association President and CEO Geoff Freeman issued the following statement on news that the U.S. Centers for Disease Control and Prevention (CDC) plans to end mandatory COVID-19 tests for travelers from China to the United States: “We applaud the Biden administration for implementing a sensible policy and changing that policy as the situation evolved. The same logic should be utilized to immediately eliminate the vaccine requirement for international visitors to the U.S.”...
How to Use Mobile Technology to Win Back Business Travel
Priya Rajamani | March 9, 2023
Business travel is coming back in a big way, but in order to be successful with this growing customer segment, hotels must embrace a flexible, seamless, and personalized mobile-first guest experience. By Priya Rajamani Business travel has recovered significantly as pandemic fears wane and employees return to the office. According to a recent survey by the Global Business Travel Association (GBTA), over three-quarters (78%) of travel managers expect business trips to increase in 2023, even as the global economy continues to slow. Business travel will also increase in the medium term, with the global business travel market expected to reac...
As Students and Families Head to Spring Break, the Hospitality Industry Ramps Up Hiring
PeopleReady | March 7, 2023
TACOMA, Wash., March 7, 2023 -- With spring break underway, hotels, restaurants and resorts across the country are gearing up for an influx of guests. Many experts are seeing a year-over-year increase in spring break-related online searches, with some predicting this season to be busier than pre-pandemic's spring break of 2019. To meet this surge in seasonal demand, many businesses in the hospitality industry are ramping up their hiring efforts to ensure they can continue to provide quality experiences for their guests. A new analysis by staffing giant PeopleReady finds that close to 450,000 hospitality-related jobs were posted in January...
Phoenix Hotels Scored Second-Highest Super Bowl Weekend ADR and RevPAR
STR | February 28, 2023
As forecasted, Phoenix’s hotel industry ranked second all-time among Super Bowl host markets in average daily rate (ADR) and revenue per available room (RevPAR) during the weekend of the big game. While the market’s rankings were as forecasted, the values that produced that status were different than projected. ADR ($538) and RevPAR ($468) beat forecasts, while occupancy (86.9%) was lower. When adjusting for inflation (real), Phoenix’s ADR and RevPAR were easily all-time highs for the market. The real RevPAR value dipped to third among Super Bowl hosts behind Miami (2020) and New Orleans ($482). This year’s big game too...
UNWTO Looks to “Re-Write Tourism History” at Official Re-Opening of China
UNWTO | February 24, 2023
UNWTO has heralded the re-opening of China as ‘the final piece in tourism’s recovery’ from the biggest crisis in the sector’s history. Leading a high-level delegation to the city of Hangzhou to join in the official re-opening, UNWTO Secretary-General Zurab Pololikashvili, warmly welcomed the lifting of travel restrictions as a major boost to economic growth and social opportunity both in Asia and the Pacific and globally. According to UNWTO data, the pandemic cost destinations worldwide a combined US$270 billion in Chinese outbound tourist spending in 2020 and 2021 alone. The re-opening of borders therefore represents “the moment...
STR: U.S. Hotel Results for Week Ending 18 February
STR | February 23, 2023
HENDERSONVILLE, Tennessee—U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 February. 12-18 February 2023 (percentage change from comparable week in 2019*): Occupancy: 60.8% (-5.5%) Average daily rate (ADR): US$156.10 (+19.5%) Revenue per available room (RevPAR): US$94.94 (+12.9%) U.S. weekly hotel occupancy reached the 60% mark for the first time since the week ending 19 November 2022. Among the Top 25 Markets, Washington, D.C., saw the only occupancy increase over 2019 (+2.2% to 59.1%). Helped by Super Bowl LVII, Phoenix reported the highest ADR (+58.4% to US$2...
STR: Canada Hotel Performance Surpassed Pre-Pandemic Levels in January
STR | February 23, 2023
HENDERSONVILLE, Tennessee—Canada’s hotel performance fell slightly from the previous month but surpassed the 2019 comparables, according to STR’s January 2023 data. January 2023 (percentage change from 2019) Occupancy: 50.7% (+0.3%) Average daily rate (ADR): CAD167.96 (+14.0%) Revenue per available room (RevPAR): CAD85.11 (+14.2%) “Canada’s hotel industry started off the year on a high note, as performance came in above the 2019 benchmark,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “Despite downward pressure on household di...
GBTA Forecast Expects Key Business Markets in Europe Will Fully Recover in 2026
GBTA | February 22, 2023
Europe makes up lost ground and is anticipated to be the fastest growing business travel market in 2023 London, UK (22 February 2023) – The business travel industry in Europe continues its progress towards full recovery to its pre-pandemic spending levels of USD $392 billion, but the divergent recovery in business travel continues across the region. Europe’s business travel spend now accounts for approximately 20% of global spend compared to 27% in 2019. Emerging Europe and Western Europe were the only regions globally to experience spending declines in 2021, as COVID-19 impacted domestic and regional business travel markets. ...
