International Visitors Spent Nearly $20.1 Billion Traveling Within the United States in March
National Travel and Tourism Office (NTTO) | May 23, 2024
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Market Reports
Room Service or Is It Food Delivery?
Kirby D. Payne | October 26, 2015
By Kirby D. Payne, Oct 26, 2015 Room service should be more than just food delivery. This article has reminders for full service hotels and ideas for limited service hotels. I admit I am addicted to certain cartoons, including some serial ones. As a result, I regularly turn to the cartoon pages of the daily paper. I could not help but get an extra chuckle when I saw "The Family Circus" by Bill Keane on October 24, 1997. I wish we could reprint it here but they wanted $150 for that, which is reasonable, but would not let us use it on the internet version of this column which is unreasonable as it would have been a nice promo for the...
Travel Leaders Laud Surface Transportation Bill
U.S. Travel Association | October 23, 2015
WASHINGTON (October 23, 2015)—U.S. Travel Association President and CEO Roger Dow issued the following statement: "The travel community is grateful to members of the House Transportation & Infrastructure Committee for approving today a surface transportation bill that is innovative and emphasizes return-on-investment. While the bill doesn't solve the problem of chronic underinvestment in our surface infrastructure, it does eliminate the uncertainty that had plagued the system and allow states and municipalities to move ahead with key projects. "Most notably, the bill includes language that encourages state d...
W Hotels Worldwide Debuts in the Netherlands with Opening of W Amsterdam
W Hotels Worldwide | October 22, 2015
AMSTERDAM--October 22, 2015--W Hotels Worldwide, part of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), today debuted in the Netherlands with the highly anticipated opening of W Amsterdam. Owned by Europe Hotels | Private Collection, the hotel brings the W brand's distinctive New York energy, Whatever/Whenever® service mentality and upbeat programming to the Dutch capital. Just steps away from the vibrant Dam Square and the Royal Palace, the hotel introduces WET DECK®, the city's first rooftop pool, and electrifying culinary venues, such as THE DUCHESS and MR PORTER. "The long awaited and much anticipated opening of W...
New York City #1 Reports Lodging Econometrics
Lodging Econometrics | October 22, 2015
OCT. 22, 2015 - PORTSMOUTH, NH Lodging Econometrics reports that New York City continues to have the largest construction Pipeline of any market in the world with 210 Projects/33,875 Rooms. New York is forecast to open a total of 38 hotels with 5,505 rooms in 2015. The city will have twice as many hotel openings this year than any other market in the U.S. but, interestingly, fewer openings than at least seven markets in China. According to the current forecast, New York is scheduled to open another 59 hotels and 7,986 rooms in 2016 and in 2017 is predicted to open 39 hotels with 6,527 rooms. ...
Five Key Takeaways: The Lodging Conference 2015
HVS | October 20, 2015
By Brett Russell, Ryan Wall, and Adam Lair Presentations at this year's Lodging Conference shed light on how far the U.S. hotel industry has come, as well as how long the current upturn could last. The Lodging Cycle Just last year, at hotel conference events across the nation, hoteliers were sharing strategies for facing an inevitable downward trend in the industry. The thought was that, after years of stellar performance, the current up-cycle was approaching its last year or two, a premise supported by historical data showing how previous cycles, from peak to peak, lasted about ten years. It would follow that the next peak for most U....
Budget Accuracy Benefits All
the Authors and PKF-HR | October 20, 2015
by Robert Mandelbaum and Viet Vo Since 2001, PKF Hospitality Research, a CBRE Company (PKF-HR), has assessed the accuracy of hotel budgets. Over the past 14 years, one trend has become very predictable. During times of industry prosperity, hotel budgets are extremely accurate. During the depths of the 2001 and 2009 industry recessions, hotel managers underestimated their revenue levels by an average of 10.4 percent, while the profit deficits averaged 23.4 percent. Conversely, when the industry has been in periods of growth, the budget variance for revenues has been a positive 0.6 percent on average, while profit goals were exceeded by 1...
Destination Residences Hawaii Names David Dreisch General Manager of Wailea Beach Villas
Storieology Communications | October 15, 2015
MAUI, HAWAII (Oct. 15, 2015) – David Dreisch is the new general manager for Wailea Beach Villas' Association of Apartment Owners (AOAO). Destination Residences Hawaii, the official on-site management company for Wailea Beach Villas and one of the largest private home vacation-rental companies on Maui, appointed Dreisch. As general manager, he is responsible for the resort's facilities and maintaining the high-level of luxury and service Wailea Beach Villas is recognized for. Wailea Beach Villas, A Destination Hotel was named the "Top Resort in Hawaii" on Conde Nast Traveler's 2014 Readers' Choice Survey with a rating of 94.242. Wa...
China Pipeline Posts Modest Growth According to Lodging Econometrics
Lodging Econometrics | October 15, 2015
OCT. 15, 2015 - PORTSMOUTH, NH Lodging Econometrics reports that growth of the China Hotel Construction Pipeline, at 2,591 Projects/538,268 Rooms, is up modestly from a year ago, 10% by projects and 5% by rooms. The slowdown in its manufacturing industries, coupled with a falloff in real estate and infrastructure construction, has tempered pipeline growth and is likely to continue doing so in the immediate future. ...
PKF-HR Issues U.S. Lodging Forecast at Historic Hotels of America Annual Conference
PKF Consulting, USA, a CBRE Company | October 15, 2015
Historic hotels achieve a substantial premium in ADR and REVPAR over comparable contemporary hotels. Washington, DC – October 15, 2015 - The outlook for the U.S. lodging industry, particularly historic hotels, continues to be extremely strong, according to PKF Hospitality Research (PKF-HR is a CBRE company). For the second consecutive year, PKF Hospitality Research, a CBRE Company (PKF-HR) presented a Historic Hotels of America – PKF-HR five-year forecast at the Historic Hotels of America annual conference. PKF-HR relies on historical hotel performance data from STR, Inc., and economic forecasts from CBRE Economic Advisors, ...
Europe’s Economic Recovery and Construction Pipeline May Face New Challenges
Lodging Econometrics | October 14, 2015
European economies have been slow to recover from the Great Recession but began to gain momentum in early 2014. Today, optimism about the economy is more tempered as the economic shockwaves from China's downturn and those of its major trade partners may threaten Europe's fledgling recovery. Overall, the investment climate has changed markedly as much of Europe is now in a reactionary mode, on the watch for further economic and political headwinds. Since early 2014 the hotel construction pipeline has experienced five consecutive quarters of modest YOY improvements and has grown to 890 Projects/143,744 Rooms (Chart 1), the highest...
HVS Publishes the 2015 Lodging Tax Report – USA
HVS | October 14, 2015
The fourth annual edition provides lodging tax rates/collections in all 50 US states and across 150 US cities. Chicago: HVS Convention, Sports, & Entertainment Facilities Consulting (HVS CSE) is pleased to announce the release of its fourth annual Lodging Tax Study – USA, which explores the current status and historical trends in the imposition of lodging taxes in the United States. This annual report provides the most comprehensive information on lodging tax rates levied at the state, county, city and special district levels, and the collection and distribution of revenue from lodging taxes levied in all 50 states and the 150...
U.S. Business Travel Spending Growth Slows in 2015
the GBTA Foundation? | October 13, 2015
Airfares Drop Due to Plunge in Oil Prices, But Rising Ancillary Fees Negate Savings Alexandria, VA (October 13, 2015) – U.S. business travel spending will increase by 3.1 percent in 2015 and 3.7 percent in 2016, yet the global oil price collapse and economic weakness in China, Russia and the Middle East dampen the outlook for growth this year and next. These findings are part of the GBTA BTI™ Outlook – United States 2015 Q3, a report by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), and sponsored by Visa, Inc. "Growth in U.S. business travel spending is softening ...
Lodging Econometrics Reports Eight Straight Quarters of Year-Over-Year U.S. Pipeline Growth
Lodging Econometrics | October 13, 2015
OCT. 13, 2015 - PORTSMOUTH, NH - According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics, the Pipeline has now posted eight straight quarters of Year-Over-Year (YOY) growth and recorded double-digit increases in each of the last four quarters. The Construction Pipeline is at 4,038 Projects/507,221 Rooms, up more than 20% YOY by room count. The Pipeline is 29% below the 2008 high of 5,883 Projects/785,547 Rooms. Analysts at Lodging Econometrics say that the number of New Project Announcements entering the Pipeline is accelerating and think that the hotel real estate cycle has about two more years ...
Revcaster® Meets Hospitality Industry Demand for Better Tools to Monitor the Competition
Revcaster | October 13, 2015
The Rainmaker Group Sees Rapid Growth for Price Comparison Solution ATLANTA – Oct. 13, 2015 – Revcaster®, a popular price comparison tool that joined The Rainmaker Group earlier this year, has seen a surge in demand by the hotel and gaming industry. A competitive rate shopping instrument, Revcaster provides deep-dive local knowledge and analysis so hoteliers can monitor market changes and maximize ADR. It is a part of Rainmaker's sophisticated, science-driven solution suite that manages hospitality revenue and optimizes profit. Revcaster's rapid growth in recent months points to the industry's hunger for smarter resourc...
Cvent Releases Results of Global Event Benchmarks Study
Cvent | October 13, 2015
Survey of 2,200 Meeting Professionals Reveals Key Planning and Execution Metrics to Improve Event ROI October 12, 2015 - TYSONS CORNER, Va. - Cvent, Inc. (NYSE: CVT), a leading cloud-based enterprise event management platform, today released results from a recent survey of more than 2,200 executives, planners and marketers that provides insights into how meeting professionals around the globe budget, target attendees, create content, market events, enhance onsite experience, collect feedback, and measure return on investment (ROI). The study showed an overwhelming 94 percent of c-level executive respondents believed their events were ef...
South Florida Continues to Boom in Occupancy, ADR and RevPAR Says HVS
HVS | October 12, 2015
October 12, 2015 - Kathy Conroy, MAI, and John Lancet, MAI, Managing Directors of the HVS Consulting & Valuation practice in Florida, presented to a capacity crowd of more than 100 operators and developers last month at the South Florida Hotel Market Connections event held at the Wyndham Shelborne Hotel on Collins Avenue in South Beach. "In assessing the statistics regarding hotels under construction as well as hotels in the final planning stages, it is important to note that the majority of inventory entering the combined Downtown Miami and Brickell hotel submarkets are in the upscale and upper midscale categories – which we ...
Nearly Half of U.S. International Business Travelers Use Extended Stay Accommodations
the GBTA Foundation | October 12, 2015
Millennials Most Frequently Use Extended Stay Accommodations Alexandria, VA (October 8, 2015) – Nearly half (48 percent) of all U.S. business travelers have used an extended stay accommodation in the past 12 months when traveling internationally for business, according to new research from the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA). The study, Extended Stay Accommodations: Awareness, Supply and Demand, produced in partnership with WWStay, also revealed interesting differences across age groups when it comes to extended stay accommodations. Millennials (18-34) use extended s...
Africa Hotel and Tourism Entering Period of Sustained Growth
October 5, 2015
LONDON, United Kingdom, 5 October 2015 -- The hotel and tourism industry in Africa is beginning a period of sustained growth, according to the sector's leading experts gathered at the Africa Hotel Investment Forum in Addis Ababa (http://www.Africa-Conference.com). The conference heard that inward international flights were recovering after being hit by the ebola outbreak. And the hotel sector reported significant expansion, as well as increased visitor numbers, boosted by demand from African business. Now in its fifth year, AHIF (30 September to 1 October 2015) brought together 500-plus leading international hotel investors, local opera...
Survey by Partners NATHIC & Lodging Econometrics Finds High Interest in Buying/Developing Hotels
Lodging Econometrics | October 1, 2015
Miami, Fla., October 1, 2015—Officials of the North American Tourism & Hospitality Investment Conference (NATHIC) in conjunction with Lodging Econometrics, the lodging industry's leading consulting partner for global real estate intelligence, today announced that respondents to a survey of hotel owners and investors found high interest in both buying and building hotels-signifying a continuation of the current Lodging Real Estate Cycle. The survey includes responses from hoteliers who currently are "active" in the market. The 7th annual NATHIC event will be held November 4-6 at the Fontainebleau Hotel in Miami. NATHIC is a par...
Ocean Properties to Debut Opal Sands Resort in Clearwater Beach, Florida Early Next Year
Opal Sands Resort | September 30, 2015
Luxury beach haven opening in Early 2016 CLEARWATER BEACH, FL – September 2015 – Opal Sands Resort, the newest property under Ocean Properties, Ltd. & Affiliates, is set to open by March 2016 in Clearwater Beach, setting the bar for luxury beachfront accommodations in Florida's #1 Best Beach Town, as named by USA Today. Inspired by the powdery white sands and lively atmosphere, the highly anticipated resort brings upscale accommodations with a contemporary feel to Florida's Gulf Coast. The curvature of the property, designed by Design Duncan Miller Ullmann, gives every room a clear view of the stunning gulf sunsets with ...
Travel Community Lauds Senate Introduction of Bipartisan JOLT Act
U.S. Travel Association | September 30, 2015
WASHINGTON (September 30, 2015)—U.S. Travel Association President and CEO Roger Dow issued the following statement on the Senate introduction of the JOLT Act, which would expand and enhance numerous programs that address the security, efficiency and volume of inbound international travel: "The U.S. travel community unambiguously praises this legislation, which identifies and implements valuable enhancements to inbound travel from Canada, trusted traveler programs, and the Visa Waiver Program. "Inbound international travel is already the No. 3 U.S. export, annually supporting more than one million American jobs, but that ...
European Hotel Transactions up 58% Year-on-Year, Says HVS
HVS | September 30, 2015
30 September 2015, London: Transactions in the European hotel sector have seen a big increase with volume reaching €12bn in the year to date, according to Charles Human, HVS managing director, speaking yesterday [29 September 2015] at the Hotel Investment Conference Europe at London's Jumeirah Carlton Tower. Introducing a session on private equity, Human painted a positive outlook of today's hotel investment sector, outlining the fact there had been a 58% year-on-year volume increase. The UK, he said, had seen the biggest number of deals, with €6.8bn-worth, representing 55% of total European volume. Some €5.2bn had been p...
Advance Booking Uptick is Welcomed News for North American Hoteliers
TravelClick, Inc. | September 29, 2015
NEW YORK – September 29, 2015 – As the fall season comes into full swing, hotels in major North American markets are experiencing an improved advance booking pace, as well as healthy increases in both transient (individual reservations that are made by business and leisure travelers) and group bookings, according to data from the September 2015 TravelClick North American Hospitality Review (NAHR). Committed occupancy* for Q3 2015 through Q2 2016 is up 2.2 percent compared to a year ago, and new reservation commitments that have been added over the last month are up 3.4 percent. When broken down further, new group business bo...
Commerce Department Applauds New U.S.- China Agreement To Increase Travel And Tourism Exports
NTTO | September 28, 2015
Leaders announce the U.S.-China Tourism Year for 2016, a new initiative that celebrates the recent reciprocal extension of visa validity and supports increased travel and tourism exports. September 28, 2015 - WASHINGTON - Today, U.S. Secretary of Commerce Penny Pritzker joined President Obama and President Xi for the conclusion of a week of productive discussions between the two countries. The two leaders announced the U.S.-China Tourism Year for 2016, a new initiative that celebrates the recent reciprocal extension of visa validity and supports increased travel and tourism exports. Partnering under the framework of the U.S.-China Joint...
